$100,000 Diamond Bought on Taobao
Better choose EMS…
You might think that it would be crazy to buy a $100,000 custom-crafted 2.62 karat diamond online. Zoccai says that it would be crazy not to buy it online. The Valentines holiday has been very good to this Taobao diamond shop.
Scroll through Zoccai’s past transactions if you’re a fan of big numbers. Besides the 695,000rmb high-water mark, there are plenty of 60,000rmb to 90,000rmb transactions. I originally thought people wouldn’t want to buy this kind of super expensive stuff like diamonds on Taobao. If you think about it, this is one area where you can probably save the most money.
Avoiding the jewelry shops
If someone was going to buy this kind of diamond in a store, it would probably be on Shanghai’s Nanjing Lu or some similar posh part of town. These shops have high overhead and are empty most of the time, just sitting there like a mousetrap waiting for their big score.
Wisdom of the crowds
Going into a store cold, you have no idea what they have sold in the past and at what price. You would have to be some sort of Diamond Wizard to know what the shiny rocks are worth. But when you buy online, you see the full record of past transactions. You see what sold at what price, and you can benchmark the diamond you are considering to that market value.
Thanks Xinmin.cn (中文)