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Archive for December 18th, 2006

How do I Best Sell My Vintage Diamonds

Monday, December 18th, 2006

how do i best sell my vintage diamondsHow do I best sell my vintage diamonds is a question I am often asked. Well you do have a number of choices when it comes to selling vintage diamond jewelery.

Here are some points to selling diamonds that it is good to know.

Firstly you need to realize that you are unlikely to get the full value of a diamond when selling it unless you sell it privately. There is a big mark up on diamonds and if you sell one to a dealer, the person you are selling to (unless it is a private sale to an individual) will also want to make some money when they on sell it, usually to another dealer.

So it is usual, if sold to a dealer, that you will get around one third of the retail value of the diamond. Selling to a dealer is the quickest option of course. The dealer will pay you up front their price for the diamond. You will get the least amount of money however.

Selling by auction of course may net you more but, by virtue of it being an auction and subject to the bidding at that time, you may even get less. One can sell through an auction house such as Sotheby’s and this may be the best way to go, particularly if the diamond or diamond jewelry is of a high value. It will cost around 10 to 20% but they do work to get the best price on the day.

One can also sell by online auction. Here you need to establish the genuineness of the buyer to ensure that, a) they are a genuine buyer and not just bidding for fun and b) that they are actually going to pay for the diamond. It can be tricky also as the buyer has to buy the diamond without seeing it. This means that if they are unsatisfied they can return it or complain so your description online has to be scrupulously accurate.

Selling to a private individual can net a better result financially. The individual can inspect the diamond and see if it is what they want. This way can take longer and is perhaps more suitable if you are not in any hurry.

It helps, in any sale, if you have a certificate of appraisal or a valuation of the diamond (Really no one should buy a diamond without a certificate accompanying that diamond). In fact it would be good to have two independent valuations and you can keep the diamond in a bank vault or with a trusted person perhaps so that it can be inspected without being removed until the actual sale takes place. Especially if it is a large and high value diamond.

Another method of selling diamonds is by consignment. You simply hand the diamond over the a dealer or jeweler and get them to sell it for you at an agreed price. You can get more this way and of course will have to pay the dealer but, again, it can take some time this way.

There may be other ways of selling vintage diamonds but the above is a good guideline to start with.

DeBeers Conflict Diamonds

Monday, December 18th, 2006

DeBeers Conflict Diamonds

There is a lot of information about what are known as DeBeers Conflict Diamonds and many Conflict diamond papers have been written.

This all affects the price and value of diamonds but it is not necessary to know all about conflict or blood diamonds to understand it.

Very basically whereas once money was used to finance arms and wars, now diamonds are being used. Not just in Africa but also in South America.

But some wars are fought over the control and mining of diamonds also. These are blood or conflict diamonds.

A chequered outline of the events in Sierra Leone and conflict diamonds is featured in the up and coming movie “Blood Diamonds”, and there are many sites that outline the atrocities people are willing to commit.

After something like 17 years of ignoring the issue and dealing in diamonds that could be suspect, DeBeers finally moved out of Sierra Leone selling their stake to the corrupt officials in charge at that time and distancing themselves from conflict diamonds. DeBeers have been an active proponent of the Kimberley process designed to prevent conflict or blood diamonds hitting the market..

The Kimberly process is a certificated system of tracing diamonds from their origin to the retail market, has been set up to control the illegal traffic in diamonds

This, however is largely a paper tiger as many diamonds, some say up to 25 percent of the worlds production, is still trafficked illegally and not just in south Africa. South America plays a significant part with Brazil and Venezuela having a flourishing illegal trade in diamonds outside of the Kimberly Process (see Kimberley Process for more information on the Kimberley Process.

Diamonds can be moved illegally however from one country to another and then certified in the other country so a better way is really needed.

In Venezuela, for example, most if not all of the diamonds produced are smuggled out of the country and then can be certified elsewhere.

Laser marking diamonds at source has been one method proposed to ensure that diamonds, when they hit the market, can be considered not conflict or blood diamonds. This would assist, despite the extra cost, in ensuring that illegal diamonds are not hitting the market place.

Certainly something more substantial needs to be done.

When you go and buy a diamond, it is a good idea to ensure there is a certificate to state the diamond you are purchasing is not a Conflict or Blood Diamond.

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