Purchase An Unsold Diamond For The Fraction Of The Price They Were Just A Few Years Ago!
The After–Sale Value of most items we buy is rarely considered. Diamonds, while being a retail commodity, are not one of these frequent goods. Most of us are concerned with how much we would be able to collect in exchange for the diamond if we ever needed to sell it. Unfortunately, our wishes may be diluted since the resale value of diamonds is extremely modest.
A Stunning Diamond that your future bride-to-be raved about in a fashion magazine has just been bought buy you. It was a steep amount to pay for such little jewellery, but it was well worth it, and you are not concerned about your budget. After all, purchasing a diamond is considered an investment, is it not.
Regrettably, as soon as you pay for your purchase and leave the shop, the ring is worth 50% less than what you paid for only five minutes before. You are probably wondering how that can be. There are a few possible explanations for this stunning truth. This together with the fact that unsold diamonds have been piling up over the period of the pandemic has caused these beautiful stones to plummet in resale value. Keep reading to find out how diamonds can be snapped up for a small sum and why this is.
A diamond ring is worth twice as much at a jeweler’s shop as it is after it has been bought. This is because they acquire their diamonds in bulk and hence get the wholesale price. This provides them with more items at a lesser cost, but it also poses a problem with mark-ups.
When the jeweler purchases the diamond from the manufacturer, it has been finalized in terms of cut, clarity, color, and carat. The GIA has performed, documented, and validated all of these evaluations.
It is common knowledge that retail things are overpriced. Diamonds are particularly vulnerable due to their great monetary worth. If a jeweler buys a diamond for $1,000 from a wholesaler, he raises the price to $2,000 to protect himself against the slow-moving commodity.
A jeweler will not want to purchase a wedding ring since it is not in high demand and he can always obtain a new one at a lower price from a manufacturer. Based on current market trends, a diamonds mark up, and the reduction in diamond value, the resale value of diamonds often falls between 25% and 50% of the original price.
Once you’ve decided to buy a diamond, there are a few things that both the buyer and the seller must consider in order for both of you to control your expectations and prevent being misled. Understanding your diamond’s features and attributes can assist you in making an informed selection when selecting a seller. A GIA grading certificate covering all facets of your diamond crystal should be included with your purchase.
Clarity is the degree to which inclusions or defects are visible in a diamond crystal. To record varying stone clarities, the GIA has developed a unique grading system.
The Hue of a diamond crystal is quite important. Possibly the most crucial element. If your crystal has tints of other hues, such as yellow or brown, it is deemed contaminated and its categorization and price are reduced. The less color fund on a crystal, also evaluated on a scale, the more expensive it gets.
The Cut of a diamond is seen in its form in terms of the number and arrangement of facets. All cuts have precise requirements, although they are not as stringent as those enforced for round cut diamonds. The cut of a diamond controls its reflectivity and brightness, therefore the better the cut, the more bling and the higher the price.
The Weight of the diamond crystal is measured in carats. A carat is equivalent to 0.2 grams. The larger the diamond, the greater the carat value, and the more money required to purchase it.
Brokers are not only convenient, effective, and courteous, but they are also entertaining and may assist you in finding the best cut down price for your sought after diamond.
This is where the grading certificate comes in helpful since it will assist you in comprehending the kind of diamond you are dealing with, and with a few images and perhaps one or two personal meetings, you may be able to purchase up to 40 – 70 percent less than the diamond’s initial worth. That’s rather remarkable.
Even with all of their contacts and accessible diamond market network, the quality and features of your diamond will determine how much money you part with. If your crystal has spotting inclusions, color taints, or unpopular cuts, you are likely to get it to for practically nothing. However do not expect to sell it later.