Whether you want to buy or sell a diamond, you'll want to see or have certain paperwork and information about the diamond to ensure the sale price you pay or receive is the best possible. Diamonds in general are tracked throughout the journey to the piece of jewelry you have in order to ensure the diamond isn't a "blood diamond" and to ensure it's the real thing. Having certain paperwork and information helps you and anyone else involved in the transfer ensure that the whole sale goes well.
A Report
Diamonds vary in value based on factors like cut and clarity, in addition to more esoteric things like rarity, backstory, and reputation. A report or certificate is a form issued by an authority like the Gemological Institute of America (GIA), which details the cut, clarity, carats, and color of the diamond. The report also looks at inclusions in the diamond that could affect those four qualities. The report spells out everything on paper so that you know what you're getting if you're trying to buy that diamond, and other buyers know what they're getting if you're trying to sell that diamond. A lack of a report won't prohibit you from selling or buying the diamond, but it will make it harder to determine if the stone is truly real.
An Inscription
Many diamonds are given a serial number that's engraved along the girdle of the diamond, that thin strip that forms the widest point when you look at the stone from the side. The number is too small to see without a microscope, but it is a valuable way to track the diamond from point to point. That ensures you're getting the diamond you're actually paying for, and so on. While some don't like having things engraved into the stone, this is truly a small detail that won't show up when you look at the stone in jewelry, for example. Again, it's not required for sales or purchases, but it is desirable.
An Appraisal
Inscriptions and certificates don't show the value of the diamond. That's something you get through an appraisal, and you'll definitely want that. A third party evaluates the diamond and issues a value, and you can base your sale or purchase on that. Having the diamond appraised also helps with insurance matters once the diamond changes hands.
Buying and selling diamonds doesn't have to involve paperwork, but really, it's better if it does. Speak with a diamond buyer about getting diamonds graded and appraised, and then sold before you buy or sell.
Share16 August 2023
When I was looking for ways to diversify my financial portfolio, a friend of mine suggested something interesting. He said that it might be smart to invest in high-end jewelry, so I started looking into it. I found out that many of my friends and family members had done just that--invest in designer pieces that appreciated in value over time. Unfortunately, I wasn't sure what to look for. I had to spend a lot of time learning the ropes before I purchased my first piece. Check out this blog to find out more about high-end jewelry so that you know what to buy.
