This is the third of a three part series all about diamonds and how to understand the value of diamonds and so the price of diamonds.
So where do you buy diamonds?
You can buy diamonds from your local jewelers of course. Here you pay the biggest mark up and are less likely to have an independent certificate issued with the diamond. The diamond is usually set in a ring, broach, bracelet etc. So it is more difficult to have it properly examined and appraised.
Loose diamonds can be properly examined and an accurate assessment made.
You can also buy diamonds from online dealers and auctions. Here some due diligence is required and some knowledge of diamonds as described in the prior two articles in this series and on this website.
With regard to dealers one needs to ensure that the dealer is genuine. Does the dealer have a fixed address? Is there adequate contact details available? Importantly does the dealer have a returns policy? Especially for online dealers as you have no way of knowing how genuine the diamond is until you can have it appraised yourself.
All genuine diamonds should come with a certificate of authenticity. See the appraisal pages on this site for more information on appraisal and certificates.
Buying on auction also requires some common sense and due diligence. Who is the seller? If you are buying on eBay then you can know something about the seller through his or her feedback. Also are they a power seller? Do they have a eBay ’store’? Answering these issues will determine the authenticity of the seller before you even look at the authenticity of the diamond!
Check out all their auctions. A power seller will have many going at one. Check out where the item is stocked. Ask the seller questions about the diamond. A certificate of appraisal should also be displayed with a picture of the diamond.
Other auction houses will have similar ways of verifying the genuineness of the seller.
You don’t have to know all about diamonds but certainly knowing something about the value and price of diamonds is an essential part of understanding before you buy.
Here’s to happy diamond hunting and buying!
Part 3 of a 3 part series
All About Diamonds Part 2