What should Diamond Buyers Consider?
Diamonds may be a girl’s best friend but they also are a major expense for those who are looking to buy them. Diamonds are a limited resource which is controlled by the major diamond miners to limit the amount produced and released to market as a way of inflating the cost of diamonds and to retain their value. Buying diamonds that are both a good value and which retain their value can be a major challenge for a diamond buyer. Here are some factors that should go into your decision as a diamond buyer and where to turn for bargains on diamonds.
The Four C’s
Diamonds are often purchased with the four C’s in mind; color, clarity, carat, and cut. Which of these is the most important is at least partially at the discretion of the diamond buyer themselves. Carat refers to the size of the diamond, cut how the diamond is shaped, clarity refers to how clear and how many imperfections there are in diamond, while color refers to the color of the diamond (clear tending to be the most coveted though truly colored diamonds can also be quite valuable). Each of these factors are rated by the GIAA and assigned a number rating which helps to determine its value and scarcity level and helps users who are untrained in diamonds to make a more logical decision regarding the best option for their diamond buying experience.
How A Diamond Setting Will Impact the Price You Pay
The four C’s rating process that compares one diamond to another without consideration for other factors that can go into pricing. The major factor that can impact a diamond’s price is the setting of the diamond. The setting of a diamond is the piece of jewelry that the diamond is placed into, whether it be a ring, necklace, or other piece of jewelry. Some settings tend to retain the value over a lengthy period of time, while other settings end up being more of a fad. Many diamond buyers will simply buy a piece of jewelry to fit their individual tastes while others are more interested in the manner in which the diamonds and the related jewelry retain their value. Still, the setting for your diamond is something that a diamond buyer should be aware of as a factor that will impact their purchase.
The Skill of a Jeweler and Impact on Price
The individual skill of a jeweler will impact the value of a diamond above and beyond the quality of the diamond itself. Simple settings will often be priced as the commodities that they are, while elegantly set diamonds will command a premium price compared to other similarly rated stones. Finding a well-regarded jeweler can be challenge but look for someone who is experienced in the industry, produces pieces that speak to you, and does not charge a significant amount for the diamonds that you are looking to have set.
How to Pay a Fair Price for a Diamond
With a wide range of diamond sellers in a particularly unregulated market you may find that it is challenging to find a diamond seller that you can trust. Stick to well-established diamond sellers who rely on their reputations and do not be afraid of having an independent valuation done on your diamond purchases if you are buying an expensive diamond. The peace of mind that you get by knowing that the diamond that you bought is authentic is well worth the money you spend on an appraisal. Another alternative to get a fair value on a diamond purchase is by using an online diamond broker. Some of the largest online diamond brokers will work directly with third party diamond sellers on open exchanges which result in a greater number of high quality diamonds being sold at fair prices. These online diamond brokers will review the diamonds and make sure that they are properly rated before selling them to you which can thereby provide you with assurance regarding the authenticity and quality of the diamond that you are buying. Further, these online diamond brokers have a wide range of products that are available for sale and can provide you with access to their extensive inventory. Since online diamond brokers depend heavily on their online business reputation they have controls in place to make sure complaints are handled and that the inventory that they sell is authentic.
Finding Bargains on Diamonds
Finding a bargain on a diamond can be challenging and many diamond buyers will be content if they do not get overcharged. Finding bargains on diamonds is much more challenging. There are a number of different places where a diamond buyer can reach out to in order to try to locate a bargain on their purchase. One of the best places to turn to is estate sales where the relatives of the recently deceased are often trying to quickly unload assets and don’t want to go through the process of getting current value. Even if you don’t like the setting on these pieces the diamond itself may be worth more than the price you pay and you can have the diamond reset. Antique stores also will sometimes have real bargains for diamond buyers and with unique and interesting settings which may have their own value as a niche piece of jewelry. Websites have recently sprung up which even sell diamond rings and jewelry from couples who are divorcing and who want to recover some money in any way possible. While the idea of buying a diamond from a failed marriage may seem troubling, it can provide a real value to those who are looking for a bargain diamond. Finally, loose diamonds can be your best value and window into a quality piece of diamond jewelry. While you may need to spend some extra time and money to have the diamonds you buy fashioned into a quality piece of jewelry, the price that you pay will generally be significantly cheaper than a finished piece and can let you have a fully customized piece of jewelry.