The Waitrose Paradox

People often tell me they don’t need a Gem Dealer as they have their own suppliers in the East and they go to Bangkok or Hong Kong to buy themselves once or twice a year and that’s enough.The assumption is that they can surely buy better and cheaper themselves. And in some cases this is true There is however a very strong case when it isn’t. I have likened it to what I call the Waitrose paradox.

Waitrose is regarded as one of the highest quality supermarkets (grocers) in the UK. It is also one of the most expensive. The assumption is that you are paying over the odds for everything you buy there and this is true for some things – cleaning products, juices, water etc. but there are products where this is definitely not the case and that is with fresh produce. While the perception of the cost may be more, you are buying what you need/want and are getting a superior product. This means there’s little or no wastage and your food tastes better. Better food makes you feel better and your outlook on life is more positive. You work better you make better money (simplistic but you get the idea).

Think of the alternative. For your fresh produce you buy cheaper, firstly
it doesn’t last as long so you throw some of it away (you had to buy more in the first place to get such a cheap price) it’s already costing you more than you paid for it. Then it doesn’t taste as nice. Your meal times become a disappointment your quality of life deteriorates and you have low morale.

What’s this got to do with gemstones? With the right supplier in place, you can buy what you want, when you want it and invariably have a choice. Are you buying better and improving your jewellery? Yes!. Did it cost you more? In real terms probably not! Have you got what you want? Yes! Otherwise you wouldn’t be buying it. When you go on your buying trips what you forget is that you can rarely buy one stone, you have to buy a few. The stones you do want to use wait six months until you get round to using them. Inevitably some won’t be as good as you thought when you get home. They sit in your safe and tie up your money. A bit like the cheap groceries you buy because they’re cheap, but end up throwing away because they are rubbish.