3 Reliable Ways to Determine Diamond Prices
Whether you are looking to sell or purchase a diamond, you may find yourself in need of determining what a diamond's fair price is. While this can depend on many changing factors, such as the market, country, whether it's being sold alone or in wholesale, etc, there are three reliable ways to determine a ballpark price.
1. What is the diamond's quality?
You should only be looking into diamonds with reliable certification. GIA and AGS certification are both considered very reliable and provide detailed information about the diamond. You will need to look at what is called the "four Cs". The "four Cs" are the carat, clarity, color, and cut. You can go to an appraiser for this, but a lab report from GIA will provide you with all of this information and is much more convenient and reliable when purchasing online.
• Carat - The carat is the diamond's weight. The higher the carat, the higher the price.
• Clarity - This refers to the imperfections, even microscopic, in the diamond. There are different possible grades ranging from FL (flawless) to I3 (noticeable inclusions under 10x magnification).
• Color - Actually, it's the lack of color that is measured. A pure and perfect diamond will have no color at all and will have a higher value.
• Cut - The cut is the diamond's proportions, polish and symmetry and is not to be mistaken for its shape. The cut is one of the most important visual factors in determining the beauty of a diamond.
2. Research Diamond Prices
Understanding the diamond's quality will help you get a better idea of what it's worth, but that does not necessarily mean you know the price. What it's worth and what it can be sold for are two different things. The end price depends on the current market situation in the target country and other variables that have nothing to do with the diamond itself.
Once you know everything about the diamond, you can use services like the Rapaport Diamond Report to see recent wholesale pricing for diamonds similar to yours. Look up other sellers and retailers to see what the going price is for the diamond in question.
3. How is the Diamond Being Sold?
How are you planning to sell the diamond and to whom? The price for a private buyer and a regular trader may differ. Wholesale prices also tend to be lower and often time’s buyers will offer a certain discount to first-time buyers to encourage them to be repeat customers.
These 3 reliable tips will help you understand what your diamond is worth, what it can be realistically sold for, and how to change the price depending on how the diamond is being sold.
As long as you do your research and deal only in certified diamonds, like Moti Israeli, you're good to go.
