Since there are so many conflicting and opposing views on the internet about diamonds, finding their actual value can be a strenuous endeavor.
According to Forbes, “Unlike gold, which has a quantifiable melt value, resale prices for diamonds have no one objective measure, making it easy for inexperienced sellers to become confused and overwhelmed.”
It’s difficult to know the actual second-hand value of a diamond without deep professional understanding of the market.
In this article you’ll learn how to measure your diamond’s value, what affects it, and how you can get an honest offer for your diamond without being scammed.
DIAMOND FEATURES THAT AFFECT ITS VALUE
Diamonds can be worth hundreds of thousands of dollars or mere hundreds, it all depends on their features.
Similar to other valuable things like cars or houses, there are many different features that together define a diamond’s value,
Like shapes, sizes, colors, clarity, polish and other internal or external qualities
The core test of a diamond’s grade is usually made from the four C’s:
Color: values range from D to Z, where D is 100% transparent and Z is yellow.
This the measure of the amount of color in the diamond, where D is the most valuable as it causes more light to be reflected on the facets which creates that unique sparkle that people are so attracted to.
Clarity: also known as inclusions (internal) and blemishes (external) marks.
The values range from FL to I3 or flawless to visible respectively, they refer to the amount of marks, in which I3 is when marks are visible without equipment and flawless has none even with equipment.
Sometimes damages to a diamond’s exterior or interior can only be seen with special magnifying equipment.
Carat Weight (ct): the net weight of the diamond in carats.
Cut Grade: these range from excellent to poor, and refer to the cut quality and shape of the diamond – if proportional or not.
Excellent cuts enhance the prism effect and reflect light better, and thus are more desirable.
There are a few more factors to keep in mind for the diamond’s value (SSTFP):
Shape: there are several popular cuts; the most popular is the round brilliant, then the “Fancy” cuts: heart, pear, oval, emerald, cushion, radiant, and princess cuts.
Their popularity changes according to fashion trends in the industry.
Symmetry: ranges from excellent to poor, and is graded of how the facets are aligned with one another; facets like the table, culet, crown and griddle.
Treatment: some diamonds are artificially enhanced to have better clarity or color, this can be detected by special equipment and these diamonds are considered less valuable than naturally clear or colored diamonds.
Some treatments use fracture filling or HPHT for enhancement.
Fluorescence: valued from none to very strong, and refers to the amount of shine under UV lights. The less shine the better, as it is caused by impurities.
Polish: valued from excellent to poor, and refers to the degree of smoothness of each facet.
Roughness can be spotted with specialized magnifying equipment.
MEASURE MY DIAMOND’S VALUE
Online diamond calculators are usually inaccurate, even though they claim to be top-notch.
The main reason is the inexperience of the person doing the calculations.
This process is complex and requires a specialist, preferably a GIA certified gemologist, who also understands the second-hand diamond industry.
The Gemological Institute Of America (GIA) has the reputation of being the most specialized laboratory on the market, and their appraisals are nearly indisputable.
When you’d like to measure your diamond’s worth follow these steps:
- Find all the four C’s of your diamond.
- Present it to an expert gemologist.
- Get at least three appraisals.
HOW TO GENERATE THIS REPORT?
You might have been lucky and have the initial GIA report when you bought the diamond.
That report details all the diamond’s traits and shows it’s authenticity.
The diamond might also have come with an appraisal from another institute, or even an insurance company.
These reports will have all the diamond’s traits and qualities listed, which will allow you to get a quote from an expert.
But if you don’t have any reports or certificates for your diamond, follow these steps to understand it’s value:
Carat Weight: Find out your diamond’s carat weight using an online calculator.
Color and Clarity: show your diamond to a local jeweler to get a rough idea of its color and clarity grades.
Shape: Determine the shape of your diamond.
GETTING A FINAL QUOTE FOR MY DIAMOND
If you’d like to get a final price quote from a buyer, the buyer will obviously need to see the actual diamond.
They will need to compare the real diamond to the information they received on paper, and make sure it matches.
When selling your diamond, make sure to check the reputation of the buyer you’re doing business with.
You can use the Better Business Bureau (BBB) business reputation registry to see the history of the buyer and make sure you can trust them.
Then make sure the entire process has no fees attached to it, as it should be entirely free.
You should have the option to either sell remotely or on location;
Some businesses will ask you to come in for a quote immediately, but that should raise a red flag as they might have something shady going on
Follow these steps to get a final quote for your diamond:
- Come to the jewelry store for a free consultation.
- Receive a price quote.
- Get paid (if you approve the offer).