Diamond Buying Tips
Buying a diamond is one of the most important purchases that you will make in your life, whether it is an engagement ring, wedding ring, loose diamond or jewelry for a loved one it is extremely important to put lots of thought into your purchase. Here are some tips on buying diamonds that will make sure you find the diamond that you want at a fair price.
It is important to educate yourself on diamonds before ever stepping into a retail store. Learning about diamonds is the biggest advantage that you can have in the buying process. Not only will being educated about diamonds help you get a fair price and understand if the diamond is a good value, but knowing about diamonds will help you choose a diamond more to your liking.
Start off learning the basics including the 5 C’s which are carat, cut, color, clarity, and cost. These are truly the main foundation of good diamond knowledge. Since most consumers already know about the 5C’s which are usually covered extensively, here are some tips on learning about the actual buying process in a retail or wholesale diamond environment.
As in any industry, there are good establishments and bad establishments. While at the retail level fraud is rare, you might find people that are willing to take advantage of a situation. A good retailer will try to help you find the diamond that is right for you. A good retailer will also take their time with you and ask you lots of questions.
Be aware of retailers that will immediately try to up-sell you on a diamond. They might not be interested in what you would like and automatically try to persuade you that a specific diamond is the diamond that you should look for. Beware of these types of retailers; they may be trying to get rid of hard to sell diamonds due to quality issues. A good retailer will also help educate you on what is a good diamond and the various traits of a diamond that are beneficial or decrease its value.
When buying a diamond from a retailer it is also important that they disclose everything about the diamond, that they tell you what is guaranteed and what services are included. A shady retailer will usually give you as little information as possible, will not write anything down and will just nod his or her head saying, don’t worry, everything is good.
If you want to find a reputable diamond dealer contact organizations such as the Better Business Bureau to see if a retailer has had complaints in the past, there are also diamond organizations that can point you in the right direction such as GIA (Gemological Institute of America) and American Gem Trade Association.
Once you find a good retailer and choose a stone, before purchasing it, ask to get it appraised by an independent appraiser. If the retailer says absolutely not, walk away from the sale. One of the strongest advantages that you have is having the stone independently appraised. A good retailer will give you the stone for it to be appraised by anyone you would like. You can have it appraised to see if the clarity, carat and color match what the retailer stated, and also to find out if there are any treatments such as fracture filling or color treatments that would decrease the value of the stone.
It is important for you as a consumer to exercise your preference to have the stone independently appraised. Some retailers will demand that you have it appraised by a certain appraiser. This should not be acceptable; you should be able to bring it to any appraiser that you would like.
Not only will an appraiser help you determine the quality of the stone, but will usually give you a dollar value for the stone. Some appraisers will give you both a retail and wholesale value for the stone (Retail prices are usually higher than the wholesale cost). Armed with this information will help you determine if you are getting a good deal on the stone or paying top dollar. This information will help you if you need to negotiate a fair price with the retailer.
Buying a diamond is one of the most important decisions in your life, so make sure you put lots of thought into the purchase and protect yourself using your diamond knowledge, independent appraisal and consumer organizations. Purchase your diamond the right way and you and your loved one will enjoy the diamond for many years to come.
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Should I be worried ? I purchased a diamond in Australia from an online seller.
The stone was certified by a company in Melbourne.
I have since returned home and found that the diamond may not be a natural stone?
I am not sure what this means but what was explained to me is that the stone is treated.
my jeweller was very upset that I we been sold this stone and wants to send it to the GIA for confirmation.
What should I do?
Sally Williams
Comment by Sally
— October 11, 2007 @ 1:22 am
“Buy your Diamond from a Reputable Retailer!”
What does this mean? How do I tell if the retailer is reputable or not?
Buying a diamond can be a scary undertaking these days. There is an abundance of information available to consumers, but not all of it is accurate. Hopefully we can clear up a few of the myths and give you some guidelines.
Most diamond buying guides advise you on the 4 C’s and suggest that you only shop at honest, reputable retailers, but how does the average consumer determine this?
Our advice is to ask if the diamond is certified and to see which laboratory issued the certificate or grading report. The quality of the certificate, or lack thereof, goes a long way towards telling if you are dealing with someone reputable and professional.
A diamond certificate or diamond grading report is only as good as the laboratory who issued it.
The certificate should come from a reputable, independent and recognised laboratory.
Diamond certificates from respectable labs, meaning GIA, HRD, AGS or DCLA, are totally necessary if you want to compare diamonds intelligently.
If you are unsure we suggest you do some investigation.
Laboratories such as GIA, HRD, AGS and DCLA issue grading reports of the highest international standards. All of these diamond grading laboratories utilise strict procedures, have the most advanced equipment, and affiliations which meet the strict requirements for recognition by international trade organisations.
It is up to you, the consumer, to verify the credentials of a diamond grading laboratory.
If you are told certification is unnecessary, or that the diamond certificate will cost you extra we suggest that you shop elsewhere.
Valuations or appraisals are NOT the same as a diamond certificate or grading report.
One important thing to remember is that a diamond certificate or grading report never includes an appraisal, or any kind of statement about the monetary value of the diamond.
Be even more cautious of website vendors who issue their own ‘in house diamond certificates’ or ‘manufacturer’s grading reports’ as these simply are NOT independent certificates and they are NOT from a recognised laboratory.
A diamond certificate, is only useful if it is reliable and has been issued by a reputable independent laboratory which has no financial interest in the stone. If you’ve never heard of the institution that is offering a grading report, don’t hesitate to ask about its credentials and that of the people who graded the diamond.
Diamond grading laboratories which grade to IDC International Diamond Council rules, do not just use the opinion and expertise of one person. They must grade the diamond and have the opinion and consensus of three qualified diamond graders before the grade is applied to any diamond.
Do not judge a certificate by its cover and title alone
Just because someone calls themselves a laboratory or opens up a business to do diamond certificates and valuations after having completed a gemology course, that does not mean they have the needed technical equipment, qualifications, knowledge and expertise.
These small local labs often lay claims of being independent, recognised, and having state of art equipment but what about the qualifications of the directors, graders and that of the person who graded the diamond? Did they test for all types of treatments and any enhancements? Do they guarantee that the diamond is natural? Was the diamond laser inscribed using a cold laser? Do they grade diamonds to set international rules and standards?
It is one thing to produce great looking certificates but it is extremely important that the certificate or grading report has accurate information and is technically correct.
As a consumer, the diamond certificate or grading report is your safe guard when buying a diamond. Diamond certificates are invaluable documents that show in detail a diamond’s credentials, so why wouldn’t you check the credentials of the laboratory who graded the diamond and the retailer as well?
Comment by Craig
— December 4, 2007 @ 3:13 pm
Auscert Melbourne -Scientific Gem Testing Laboratories (SGTL )
http://www.auscertdiamonds.com.au/
PRINCIPALS: Monica Crofts Gem Dealer ? FGAA & Anthony Bates Jeweller qualifications unknown
Auscert is a JAA member
AUSCERT IS UNRECOGNISED BY WFDB, IDC & CIBJO
JAA is a member of CIBJO
The two principals provide a diamond certification service in Melbourne while trading in gems and jewellery.
Under the CIBJO Diamond Blue Book guidelines to avoid a conflict of interest both gem or jewellery traders and vendors are not permitted to certify diamonds.
I am at a loss understanding why both Messrs Croft & Bates object to my earlier blog re: Non Compliant Diamond Grading Laboratories.
http://thediamondguru.blogspot.com/2007/11/non-compliant-diamond-grading.html
I am perplexed at the role of the JAA allowing this to continue with their endorsement while being the Australian jewellery association representative body of CIBJO.
In addition there are members of the Diamond Dealers Club of Australia (DDCA) who are selling Auscert certified diamonds online.
The DDCA is seeking affiliation with the World Federation of Diamond Bourses(WFDB).
The DDCA would be making a mockery of the WFDB should it be allowed to become affiliated when it’s own members choose to ignore what is a very basic requirement
I fail to see any distinction between the WFDB,CIBJO and the JAA rules and guidelines in recognising any non compliant and unacreditted diamond grading laboratory where the two principals mentioned admit to trading in gemstones and jewellery.
If Ms Crofts would like to email The Diamond Guru rather than telephoning me I look forward to being enlightened by her response.
Comment by Danny
— December 7, 2007 @ 12:35 am