Finding a reputable buyer and diamond grader is critical.
As the price of gold rose in recent years, so did the companies advertising that they purchased gold, silver, diamonds and other precious metals. The trouble is that while any company can purchase these items, very few are actually qualified to evaluate these pieces accurately and assign a fair value to them.
Figuring out which diamond buyers are actually qualified can be a tricky task if you do not know what to look for. Below are some simple guidelines and tips to follow if you find yourself in the position to sell a diamond or a piece of diamond jewelry.
How diamonds are valued
There are many variables that contribute to a diamond’s value. Think of the diamond as a used car for a moment – when you go to value the used car, you must know the make, model, year and mileage to start. The same is true for a diamond – you must know the carat weight, color, clarity, and cut in order to determine the value.
Once these characteristics are known, the value of the diamond or diamond jewelry can be obtained. However, if the business or diamond buyer you are working with is unable to accurately grade the diamond, they are unable to accurately assign a value to it.
The common result is that the consumer is greatly under paid for their diamond. The difficulty is finding a qualified buyer who can accurately grade diamonds, and know how to associate a fair value.