Posts Tagged ‘jewelers’

How to Sell A Diamond

There are many reasons why you may want to sell a diamond that you own. Perhaps you?ve gotten divorced, or you are strapped for cash. The reasons why don?t really matter ? getting the best possible price is what counts! The way to obtain the best price for the diamond is to not be in a rush. Slow down, and carefully consider all of your options ? there are many.

First, have the diamond appraised. In fact, have it appraised by two or three jewelers to get an accurate idea of the diamonds value. Tell the appraiser that you want the Rapaport Value. This is the wholesale value of the diamond, and it basically tells you the highest price that you can sell your diamond for. If your diamond has no certificate, you should consider getting a certificate from GIA. This may help you get a better price for the diamond as well.

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Buying Diamonds Online

With all of the potential for scams concerning diamonds, buying diamonds online almost seems unthinkable! However, you actually can purchase diamonds online, without any problems ? as long as you are careful.

First, think about your reasons for wanting to purchase the diamond online, as opposed to making a purchase from a local jewelry store. The most common reason is price. Due to low overhead costs, online jewelers and wholesalers are able to offer lower prices. However, you must be careful ? sometimes a price that is too low is a sure indication of a scam.

One of the best things about purchasing online is the unlimited selection. When shopping offline, you are limited to the selection in the stores in your general area. Online, there are no limits. But again, you must use a great deal of care and consideration before handing your money over to someone that you cannot see and have never met!

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Diamond Brands and What They Mean

Diamonds are one of the few products that simply cannot be ?branded.? Even though there are different cuts, different grades, and different values placed on each and every diamond in existence, no diamond is any specific brand ? just as gold is not a specific brand.

Branding is actually based on who owns the diamond. For instance, if DeBeers owns the diamond, it is a DeBeers Diamond ? but it is still just a diamond. If the diamond was cut by a specific well known cutter, then it might be branded in that way as well ? but it usually isn?t. It is still branded based on who owns it at the time. So basically, when it comes down to it ? diamond brands mean absolutely nothing at all.

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Insuring Your Diamonds

Insuring a diamond takes a bit of thought, planning, and shopping around. Diamond insurance isn?t like purchasing car insurance. It is quite different. Depending on the state that you live in, there are basically three different types of policies that will cover diamonds, and all insurance policies that cover diamonds are considered Marine type policies.

The first type of insurance policies for diamonds is an Actual Cash Value policy. If the diamond is lost or damaged beyond repair, the insurance company will replace the diamond at today?s market value, no matter how much you paid for the diamond to begin with. This type of insurance policy for diamonds actually is not that common.

The most common type of insurance for diamonds is Replacement Value insurance. The insurance company will only pay up to a fixed amount to replace the diamond that was lost or damaged beyond repair. This does not mean that they will pay that amount ? it means that they will pay up to that amount. In most cases, the diamond can be replaced at a lower cost.

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How to Spot A Fake Diamond

In this world of advanced technology it is almost impossible to simply look at a diamond and determine whether it is real or not especially if you don’t know much about diamonds. There are some steps that you can take to avoid buying a fake diamond, however.

First, only deal with reputable jewelers, and when you find a reputable jeweler, stick with them. Avoid buying diamonds or other jewelry from jewelers that you have never dealt with before in the past. Ask to see the certificate for the stone. If no certificate exists, walk away.

Look at the setting that the stone is in. Fake diamonds, such as zirconias, are usually set in low quality metals. Take a close look at the stone. Fake diamonds are not durable natural diamonds, on the other hand, are the most durable stone on the planet. Look for scratches or nicks.

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Bonded Diamonds

Before you start shopping for diamonds, consider dealing with a bonded jeweler. Bonded jewelers sell bonded diamonds, and there are very few bonded jewelers in the world. In fact, out of all of the jeweler?s in the world, only about 5% of them are bonded. Buying a bonded diamond will cost more than buying a non-bonded diamond, but when you look at what you get with the bonded option, you will see that it is well worth the extra expense.

First, bonded diamonds have a buy back policy for the life of the diamond. No matter how long you have had the diamond, you can take it back to the bonded jeweler and sell it back to him or her, for a 100% refund. If a jeweler does not offer a 100% buy back guarantee, for the life of the diamond, then you should take a closer look at the diamond to see what is wrong with it.

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