Diamond Buying Or Selling Tips
You may experience uncertainty when purchasing a diamond, particularly an engagement diamond. This is not unjustified with the increased incidence of treated diamonds, synthetic diamonds and diamond simulants, no to mention incorrectly certified or graded diamonds.
Some Quick Tips
- Buy from a reputable jeweller. A reputable jeweller sells with genuine Diamond Grading Reports or Certificates.
- Buy with a diamond grading report or certificate from an independent and recognised diamond grading laboratory. This ensures you have a natural, untreated diamond that has been graded accurately. DCLA is the only independent and internationally recognised laboratory in Australia.
- Note that a “valuation” or “appraisal” is NOT a certificate.
- Read the certificate carefully to ensure that you make an informed decision
- Price comparison is only possible if you are comparing certified diamonds. Diamond Grading Reports and Certification allows you to compare prices without unknowingly sacrificing quality or natural origin.
- Be cautious of “sales” which appear to be genuine but are nothing more than a large discount off an inflated price. If it seems to good to be true, it probably is.
- Be cautious of internet retailers offering a huge selection of diamonds. Often many are not available – this is a classic baiting scam.
- Buy a diamond that is cold laser inscribed. This identifies the diamond and ensures you get the one described by the diamond’s report or certificate.
- Do not buy your diamond overseas, buy locally. This ensures you have recourse if anything is wrong.
- Diamonds are priced the same way worldwide -there are no cheap diamonds, only lower quality.
- Never buy a diamond without seeing it first. The internet has become the perfect marketplace for selling the “leftovers,” which are impossible to sell for the asking price through traditional diamond channels.
- Do not buy a diamond with a bogus or in-house diamond “certificate”. If you are unsure, do your research on the laboratory that issued the diamond grading report. Examples of in-house “certificates” are manufacturer reports and appraisals generated by the seller.
- The seller’s valuation or certificate it is not independent and may be overstated. Genuine diamond grading laboratories do not sell diamonds nor do the employees have any interests in the jewellery trade, as this represents a significant conflict of interest.
- Do not accept unknown diamond certificates or photocopies of the original diamond grading report or certificate.
- Never shop based on price alone – this generally results in a lower quality, not a better deal. Generally speaking, you will get what you pay for.
Knowledge is key to any decision. Certification is vitally important to ensure you make an informed diamond purchase.
For more information, feel free to contact the DCLA on our Diamond ‘Trustline,’ established as a hotline for all of your diamond inquiries.
When Trading or Selling a Diamond:
DCLA can help you sell or auction your diamond jewellery and get you the correct value:
If you are you considering selling your diamond, but feel as though you have no idea how or where to begin with the process?
This article will give you a few tips to help you along the way.
TIP #1 Diamonds are usually given to display love, making the sentimental value higher to the seller than the actual value to a buyer. Should you be in the market to sell your diamond, make sure you are ready to part with the diamond before beginning the process.
TIP #2 Be sure of the quality and authenticity of what you are trying to sell. Make sure of the quality and the grade of the stone. This is most important for the ultimate value of the diamond. There have been many instances where a seller is committed to selling their diamond only to find out the quality isn’t as described when originally purchased.
There are Jewellers or services available, who will give an unbiased assessment of your stone. But it is far more valuable in the long run to get a report from a recognised Laboratory.
It is also recommended to verify the report matches the Laser inscription before placing your diamond on the market, to assure your diamond is the same stone should it not sell.
TIP #3 Now that you have an accurate report of the quality, make sure you get a realistic selling value. Believing the diamond holds a higher value than it truly possesses will lead to a challenging, frustrating experience which can be dragged out.
An appraiser can assist you with determining a fair selling, price so you can avoid this pitfall. Diamonds are priced in US dollars, so your diamonds price will be affected when converted to your local currency.
A good way to see current retail values is to visit online stores like www.dcladiamondexchange.com.au or bluenile.com.
TIP #4 There are many ways to sell a preloved diamond or diamond jewellery. Research your selling options to make an educated decision that works best for you. Be it an online market or exploring options through a local jeweller or dealer, be sure you are using the best option for your needs.
Example, if time is not of the essence, an online market or an auction house could be the best way forward. If you want a quick sale, visiting your local dealer may be the best option.
DCLA Diamond Laboratory provides an internationally recognised and respected report to any seller or prospective buyer.
DCLA will provide you with an experience expert to advise you and give you the accurate value protecting you when selling. Our goal is to provide you with as much knowledge as possible.