Short listing Merchants

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Short listing Merchants

Once you have decided the type of merchant that you want to purchase your diamond from, you then need to talk with and visit several of them and obtain quotes for the specification of diamond that you want to buy.

From there, you need to create a shortlist of between 2 and 4 merchants who you will then “play-off” against each other in negotiations. So how should you arrive at this shortlist?

	Question	Excellent Indicator	Bad Indicator
1	Is the merchant a registered Company in the UK?	Yes	No
2	How long has the business been operating?	10+ Years	Less than 6 months
3	What diamond industry experience does the proprietor have?	10+ Years	Less than 6 months
4	Does the business have a professional image?
5	How much word-of-mouth business does the business do?	25%+	5% or less
6	Have you been provided with a good-quality personalised service so far?	Yes	No
7	Are their customer testimonials available for viewing?	Yes	No
8	Do you have a “gut-feel” of trust for the proprietor?	Yes	No
9	How long has the merchant operated from their current physical premises?	10+ Years	Less than 6 mths
10	Has the proprietor ever been declared bankrupt?	Yes	No
11	Has the proprietor ever been convicted of a criminal offence?	Yes	No
12	Does an internet search of both the trading name and proprietor’s name yield only positive comments?	Yes	No

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