Diamond trading is one of the types of trade that is not suitable for everyone, as it requires capital and prior experience. Otherwise, failure in it may be closer.
But what about those who have sufficient capital and necessary experience? These people can make huge profits.
If you have the experience and capital, we invite you to think about this project. If it is not available, you can obtain experience by working for several months to obtain experience, while you can obtain capital through one of the financing methods. Below we talk about the diamond trade in detail.

Diamond Trade Project Website:

The diamond trade project targets the wealthy, so the project should be in one of the areas famous for the presence of this category of people, such as capitals, new cities, and tourist cities.
Therefore, searching for a store in one of the large commercial malls is recommended, and this is the best place from our point of view. It is also possible to search for a shop in a vital location in a high-ranking area with a large population density and movement. This ensures that you will reach your target customers with this expensive jewelry.
It is necessary to find a store in a visible place exposed to passers-by so that people can see it clearly, thus increasing the chances of customers entering your store.

Diamond shop space:

Since you are targeting the wealthy category with your project, you should know that this category prefers spacious places. Although diamonds, jewelry, and precious stones are minor and do not need a prominent place for display or storage, you must provide a vast space for your project to attract these people.
Therefore, it is recommended that the area of the shop be significant. Not less than 100 square meters to equip the shop with attractive decorations and gain customers’ trust, but at the beginning of the diamond trade, you can start with a shop of 70 square meters. This is only a start.

Diamond Shop License:

It is natural for countries’ laws to require the owners of diamond shops to obtain the necessary licenses so that taxes are collected correctly, and the state guarantees the source of the diamonds.
However, diamonds and precious stones must be issued with special invoices, as mentioned in the equipment section.
So you must obtain licenses to operate a retail store and then obtain specific licenses to start trading diamonds. And these licenses differ from country to country, so research your country’s laws first.
As for the papers that you must submit to be able to obtain a license to practice diamond trading, they are as follows:
A copy of the ownership or lease contract for the place.
An engineering drawing and a detailed map of the location of the shop.
You must ensure everything inside the shop, including furniture, equipment, and diamonds.
Obtain a record and tax card, and provide a copy and the original for perusal only.
Health certificates for all project workers.
It is also necessary to obtain permission from the National Defense Department, approval from the Traffic Department, and approval from the Department of Organization, Administration, and Industrial Security.
This is if you want to do your diamond trading project or shop legally and free from suspicion so as not to expose yourself to fines or penalties, which may amount to a complete closure of your project.

Diamond trading project equipment:

Indeed, the diamond trading shop project needs special equipment, and it is necessary to provide all the following equipment to ensure your project’s success and attract a large number of customers.
First, you have to provide several shelves and glass showcases, as they are the best used for displaying jewelry and diamonds, and always keep them clean, and their transparency is high so that customers can search through them.
The project has many surveillance cameras distributed to reveal all corners of the place and some alarms that sound if any theft occurs.
And some firefighting devices, such as fire extinguishers or fire alarms and extinguishers, operate electronically via smoke and temperature sensors.
You must also provide these windows in a way that allows you to close them with locks and open them on one side only to ensure they are not stolen.
The fixtures also include mirrors and attractive decorations, such as wall paintings, in silver, gold, and white colors, which give an aesthetic appearance.
And an air-conditioning device to soften the atmosphere. It is not advisable for customers to feel uncomfortable due to the inappropriate climate inside the store. The more pleasant the atmosphere, the more customers search.
And also, among those things that must be provided in your project to sell diamonds is a modern electronic safe to store rare jewelry and the daily profits of the shop.
And many sensitive weighing devices operate with high accuracy, and some magnifying lenses are used to detect the type of diamonds and are also used to identify fake diamonds from the original.
This is not the computer or the printers used to print invoices. Diamonds are not sold without an invoice that bears their type, weight, date of sale, manufacturer, price, shop name, seal, and buyer’s name.
Finally, provide many expensive and comfortable chairs, so that customers can use them while they are inside the store.

Types of diamonds that can be traded:

As for the types of diamonds with which you can start the diamond trade, they are different, and before you choose the type that you sell through your project, you must first know what the target audience prefers in your store.
Diamonds are divided based on several classifications, such as color. Diamonds are colorless and go to dark yellow.
Or, based on cutting or how diamonds are cut, some diamonds cannot be adequately cut, indicating their poor quality.
The third classification is the degree of purity of diamonds. The fewer impurities present in diamonds, the higher their price. There are 11 degrees of diamond purity, starting with (F1), which is entirely free of impurities and ending with (I3), which is the diamond in which impurities can be seen. With the naked eye.
The best and very famous types of diamonds are the brick diamonds, the Millennium and Jubilee star, the Florentine, the Shah, and the Regent.

How to get diamonds:

To be able to start in the diamond trade, you want to know how to get diamonds or jewelry made of diamonds, white gold, and rare gemstones, and among those ways are the following:
The first method is the common one, which is done by contracting with famous brands selling diamonds and expensive jewelry, including Carter and Dior, two very famous brands.
Or you can deal with the local manufacturers of this jewelry if the quality of what they make is high and suits the target group of this project.
And you can provide the service of buying used diamonds from customers to provide quantities of diamonds at reasonable prices.
There are extensive electronic stores that sell diamonds, white gold, and rare gemstones, through which you can get everything you want, including what you can get diamonds from, at very excellent prices.
The last method, which is the most expensive and requires the presence of a workshop specialized in manufacturing, is to import diamonds and jewelry from countries famous for extracting it from the mines, and one of the most significant, most important, and most famous of these countries is India. India extracts the equivalent of 90% of the diamonds in the world.