How Not To Fall Prey To Jewellers’ Sales Tactics

 

Some useful tips for you not to fall prey to jewellers’sales tactics

 

Shopping for diamonds is an art. Diamond shopping is a test of meticulousness.  All diamonds may look equally impressive in jewellery stores, but only when viewed under natural daylight will it reveal its true brilliance. In a bid to make your diamond shopping a wiser one, JannPaul highlights 5 of the most common marketing tactics.

  1. There can be GIA triple Excellent diamonds that are poor performers.

When a diamond is said to have a triple excellent rating, it refers to the rating of the diamond’s cut grade, polish and symmetry. Often, this is how a salesperson would benchmark their diamond, by saying a “triple Excellent diamond is the best.”

However, there is much more to this. A more reliable way to determine the quality and performance of a diamond, is by measuring the light performance (measured with an Ideal Scope or ASET Scope) and symmetry of the diamond (measured with a Hearts and Arrow Scope).

The Ideal Scope reveals the amount of light return and light leakage in a diamond. Through the scope, the greater the red areas, the more intense the light return. What this means is a lot of light is coming into the diamond and reflected out, giving the diamond a brighter look. The white areas you see on the Ideal Scope represents the amount of light leakage, which you want to minimize.

diamond

A more advanced version of the Ideal Scope is the ASET Scope. The ASET Scope determines the strength of a diamond’s light return. Red areas are indicative of strong light, while green areas represent weak light return. White areas show full light leakage, which is regarded as poor light performance in a diamond. The blue areas are a diamond’s contrast, which gives an idea of where the colourful sparkles you see on the diamond are. It should ideally have sharp and crisp arrows.

Both the Ideal Scope and ASET Scope are not commonly found in local jewellery stores, but it can be easily found online.

Although these two diamonds have different light performances, they can cost the same! This is because diamonds are sold based on what is shown on the GIA certificate, and GIA does not grade the light performance of a diamond.

  1. “The diamond is GIA-certified.”

Gemological Institute of America (GIA) is the world’s oldest, largest, and one of the most respected independent laboratories. Their laboratories are regarded as one of the most respected laboratories in the diamond industry, simply because of their consistency and unbiased diamond grading systems. As such, most of the diamonds manufactured now are graded according to the GIA standards, making it one of the most popular diamond certification in the industry.

GIA grades a diamond on according to the 4 “C”s – Carat, Colour, Cut and Clarity. That being said, there are other facets of a diamond that determine the quality of the diamond, which the GIA certificate does not take into consideration. For instance, two diamonds with the same GIA certification grades may differ greatly in terms of their light performances.

  1. “The diamond is a ‘’Super Ideal Cut’’.”

The term Super Ideal Cut is used to label a diamond that is cut to the maximum light performance. The Super Ideal Cut standard was introduced into Singapore by Paul Hung from JannPaul in 2010.

In order to prove that a diamond has high light performance, various tools are needed, such as the HCA tool, Ideal Scope, ASET Scope and Hearts & Arrows scope. Without these analytical tools, a jeweller cannot label their diamond as a Super Ideal Cut.

Unfortunately, there is no regulation for this type of grading in the industry. That is to say, any jeweller can brand their diamonds as a “Super Ideal Cut” according to their own parameters. Hence, it is important not to fall into these marketing labels, and to learn how to check if the diamond you’re purchasing is truly a Super Ideal Cut.

In other words, no scopes, no talk.

  1. The Hearts & Arrows scope does not measure a diamond’s brilliance

The Hearts and Arrow Scope reveals the symmetry of a diamond. A good diamond appears symmetrical and crisp under the scope, with no clefts or visible flaws. This scope is most commonly found in most jewellery stores, but is by no means the most representative way of determining the cut of a diamond.

What this scope does not reveal is the amount of light leakages in a diamond. Light leakage is indicative of poor light performance in a diamond, as the light leaks out instead of being reflected out. A diamond with poor light performance can still look good under the Hearts & Arrows scope, as all it means is that the diamond is symmetrically cut or it has symmetrical light leakages.

  1. “The greater the carat size, the bigger the diamond.”

Carat size is the weight of a diamond, but it does not tell you anything about a diamond’s brightness or how well it sparkles, much less its cut and size.

For the same carat weight, a diamond can be cut deeper, making it look smaller. A deeply cut diamond can affect its light performance as well, causing it to appear darker and duller. Hence, a well cut diamond will appear larger, brighter and more brilliant compared to a poorly cut diamond of the same carat weight.

The next time you shop for diamonds, equip yourself with this common language to defend yourself and your pockets from harm. With the appropriate tools for accessing a diamond’s quality, it is not as difficult as one might imagine to pick out one that’s worth the price tag attached to it.

Special thanks to Casey Lai from JANNPAUL for these useful tips.

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Why The Local Telecoms Are Ceasing The Sales Of Samsung Galaxy Note7

Before its release, people have been clamoring over the great possibilities that the Samsung Galaxy Note7 can bring. Its innovative design focuses on offering better usage with the dual-curved screen and shaping a comfortable grip with the 5.7-inch unit. Continuing the legacy of the preceding Galaxy phones, the latest Note7 along with the S Pen is waterproof. The privacy features went up a notch with the “iris scanning”. The improvements did not stop there!

Samsung came up with a larger battery that minimizes the charging speed and expands the longevity of the phone. However, this turn out to bring more problems than solutions. The battery of several Note7 units all over the world either bloated or exploded. In UAE alone, the Consumer Protection Depart at the Ministry of Economy has removed about 19,000 faulty Note7 off the market.

To control the damage and to address the gravity of the situation, Samsung has taken the full responsibility by issuing prompt recall of these units. All the local telecoms adhered and they ceased the sales of the device. This is followed by the introduction of an exchange program.

As the name suggests, customers who can exchange their defective units from September 16 to October 2. Given that these said customers purchased their Note7 from any local telecom operators, authorized mobile retailers, Samsung Experience Stores, Samsung’s Lazada Singapore online store, and major electronic shops. Self-collection of the new devices in the same color is done by visiting the Suntec Singapore Convention & Exhibition Centre or by having it shipped in your home.

If you are eager to get your defective unit exchanged, follow these simple steps:

1. Go to samsung.com/sg/note7exchange and enter a preferred collection time slot. This link will only be live on Friday (September 9, 2016).

2. Booking period begins from September 9 and extends until September 25. Register yourself if you are eligible for the replacement.

3. You shall return your Note7 afterwards. Worry not about having no means of communication as courtesy devices will be available for loan while you wait for a better unit of Note7.

4. If deemed to be qualified, your warranty period will be extended to commence from the date of the exchange.

 

May these information ease your worries about your newly purchased Note7!

Source: Vulcan Post

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How To Conquer A Mountain Of Debts

Hiking up successfully to a mountain of debts is a difficult task to anyone but, it is doable. All you need to get started is the application of money management skills.

The first step is to take a hard look at your cash flow. It is important to track where your money is going through observing the previous months’ bank statements and receipts. If an expense category is not necessary then, reduce or eliminate it from your budget. This includes magazine or newspaper subscriptions, cable television bundles, postpaid plans, gym memberships, and so on. Doing so will force you to come out of your comfort zone and live by your needs.

Instead of frequenting the gym, you can visit the nearby parks freely to have a recharging jog. You may also view the publications and reading materials available at the library at no cost. Read more books about personal finance to supplement your journey.

Now, we move on to a type of debt that most Singaporeans fall for – the credit card debt. There were more than 101,000 delinquent debtors in 2015 alone. Not to mention, the largest accumulation of debt last year was a whopping $1,552,000!

Its pervasive nature gave rise to the importance of controlling our credit card habits. Begin by collating all your credit card statements. List down your current balances and corresponding interest rates. Put these in order by starting with the greatest interest rate and down with the least interest rate. Pay of the debts with the highest interest rates first as it will be the most beneficial move in the long run.

Create a realistic budget that incorporates what you discovered about your cash flow and your debts. Stick with this budget! When all these are said and done, it is important to maintain healthy financial habits. Keep yourself motivated by setting financial goals. Sharing your progress to the significant people in your life can encourage you even more. You may also make an illustrated board (e.g., filled with pictures of your dream house or vacation) to visualize your goals.

Image Credits: pixabay.com

Image Credits: pixabay.com

The road ahead may seem impossible at the moment. So, you better hang in there!

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Frugal Mums’ Guide To Saving Money In Singapore

Here are five ways to save money as the head of the household:

SHOP ONLINE FOR SCHOOL SUPPLIES

There are many retailers that offer promotions and clearance sales on their own websites. You will not save money on the supplies but you will also save a lot on gas or transportation costs. If you have the time, purchase online.

Lion Stationery and Evergreen are the two local stationery websites you can visit.

LEAVE YOUR KIDS AT HOME

If you have the option to leave your children behind with a family member or a babysitter then, do so. Children play a huge role on what goes inside your basket. This is why marketers and store strategists put their items on a child’s eye-level.

You do not have to give in to what your playful kids wants if you go to the store alone. This will help you to save a lot more money!

Image Credits: pixabay.com

Image Credits: pixabay.com

MAKE A LIST AND STICK TO IT

Say you have no choice but to bring your precious little ones along. Turn grocery shopping into a fun task by making a game out of it. Start by planning your menu throughout the week. Then, list down the ingredients and other products you need to purchase. Save more money by opting for the generic or store brands.

Have your children find each item on the list (much like a treasure hunt). The person who finds the most items at the end of the shopping trip will win a prize. It is up to you to choose which prize will entice your children.

SAVE ON KIDDIE PARTIES

You are not forced to send invites to everyone in your kid’s entire class. If your budget does not allow you to invite your kid’s entire class, employ the “age plus one rule”. For example, you are planning to throw a party for your 6-year-old son then, invite 7 guests. Keep the numbers down by making it clear that the guests’ siblings are not invited.

Aside from that, you can forgo printing services by sending out electronic invitations through Facebook or email. This gets the job done – fast.

STOCK UP DURING GSS

An easy way to save money in Singapore is to take advantage of the “Great Singapore Sale”. This event which happens once a year includes numerous retailers from all over the nation. Bargain hunters like you can get good deals on baby clothing, child’s school supplies, toddler’s toys, and so much more. Stock up on these items to cover your annual needs but, do not go beyond your budget!

You may also buy several gifts to be prepared for the upcoming festivities (e.g., Christmas or Chinese New Year).

Image Credits: pixabay.com

Image Credits: pixabay.com

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Do’s And Don’ts When Loaning Your Money To Family And Friends

Family gatherings and friendly reunions can be less awkward if you follow these tips:

DO FIGURE OUT THE WEIGHT OF REPAYMENTS

A friend or a family member asked for financial help from you instead of loaning from a credible financial institution. Before anything else, you must ask yourself about how important it is for a person to repay you. Are prompt payments necessary or will intermittent payments work?

Keep in mind that if an individual approaches you, it is typically due to weaker credit history. This means that there is a risk of not receiving the repayment. You must figure out the weight of repayments earlier on before emotions get in the way.

DO NOT EXPECT FOR ANYTHING IN RETURN

When you do good deeds for others, it best to not expect anything in return. There is nothing wrong with earning the cash you previously had. However, you may feel disappointment if you are expecting more than what you have agreed upon.

Reciprocity is not a part of everybody’s values. This is why it is unfair to place personal expectations on unsuspecting family members or friends. This statement does not only apply to loans.

DO GET EVERYTHING IN WRITING

If you are releasing a relatively large sum of money or if you are strict on full repayment then, you must get everything in writing. Make an agreement that states the terms of the loan. This agreement is called a promissory note. Have the promissory note signed by both parties and and a lawyer (if possible). This will ensure that pursuit of legal actions when necessary.

You may also document the entire process before handing over the money.

DO NOT BE TERRIFIED TO SAY “NO!”

Your hard-earned money belongs to you and you are in charge of it. If you do not feel comfortable in lending money to a friend or a family member then, be assertive. Genuinely say that you cannot loan the money at the moment due to your financial responsibilities. Discuss the matter in a mature manner.

People who care about you will understand. If they take it against you, you may be better off without them.

DO OFFER GENTLE REMINDERS

All was said and done. To approach the situation in a warmer light in respect to your relationship with the borrow, offer gentle reminders instead of asking direct questions. You are not in the business of interrogating or threatening people about repayment. Instead, you want to cultivate an smoother discussion.

Image Credits: pixabay.com

Image Credits: pixabay.com

Sources: 1, 2, & 3

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