After all, they’ve already changed their business model. Although there is a guarantee, you can’t be sure that this tech company will still be around in a few years. The second drawback to using Rare Carat is that because you are buying from a technology company, not a jeweler and you don’t know who actually made the ring you are buying, you have to check the quality of the craftsmanship yourself.
So that great price you found might be on a not-so-great diamond. Rare Carat itself explains this on its website: “A good deal score does not mean the diamond is high quality, just good value.” The most important drawback to using Rare Carat to find a diamond is that even if you find the best price, you can’t really be sure that you have found the best diamond. If Rare Carat is willing to sell you the diamond you want at a smaller profit, you can save money. It provides an automated assessment of diamond value and you have access to human gemologists to give you an opinion, just like on other retailers.
Used correctly, Rare Carat can help you get a good price by providing a price comparison to better-known online jewelry retailers like Blue Nile or James Allen. So that listing page that looks like lots of brand competing? It’s really just a feed of loose stones from many wholesalers, just like on other online retailers like Blue Nile. They call this “a brand created on Rare Carat.” That’s why none of the retailer names sound familiar and there’s no way to confirm who made the ring or the quality of the craftsmanship. Instead of referring consumers to other retailers for a commission, Rare Carat now takes the orders themselves and makes the jewelry. Like most online retailers it offers consumers a database of diamonds from wholesalers around the world. Today, Rare Carat has become a more conventional retailer. Founded by Ajay Anand, Rare Carat calls itself the “Zillow for diamonds,” a way to easily compare the pricing on diamonds so you can get a good deal. Rare Carat started as a diamond aggregator. It’s been touted as “the secret to buying the perfect diamond.” But is shopping for your diamond engagement ring through Rare Carat the best way to get a great price on a great diamond?