How important it is to understand what you want...
Dec 20, 2000 Write an essay on this topic.
Pricing a diamond can be difficult, especially depending on your prior experience with expensive, rare jewelry. There are a few suggestions I would take advantage of (and did when I purchased my wife's ring)...
The first thing I would suggest is a trip down to a local bookstore. Purchase a book on diamond grading. There are quite a few to choose from, but basically you want a book that covers the 4 "C"s which are:
Cut, Clarity, Carat weight, and Color.
You don't need to become an expert or become certified, but you certainly want a good understanding of what you are purchasing. Also, these books usually aren't too thick, so you won't spend more time reading on diamond grading then you would studying for a Microsoft Exam.
Next, you and the person you are buying it for (if it isn't yourself) need to understand exactly what it is you want. Some of the most important things to consider are how nice of a diamond you want, the size in comparison with the setting it will be placed in, and last but certainly not least is a budget that you expect to spend on it. (Remember, you probably want to add it to your homeowners insurance n case it is lost or stolen. Check with your insurance agent to see how much it will bump up your premiums based on the value of the diamond.) It is a wise idea to have some parameters set on what you are looking for so that you can stay in range of your budget. Checking with search engines online can give you an idea of what online retailers are asking for your diamond.
Once you have an outline of what you want, next it is time to search for a diamond. This is the tricky part. The yellow pages are good, but don't forget to look for years in service (when I was searching for a diamond for my wife, I talked with a jeweler who was in business for 8 years. I decided to go with someone else, and 3 months later this person was out of business! So much for his guarantee in quality and fixing any problems in the future as he has promised.) Also, having someone who is certified is another wise choice. Online retailers are also an option, but as with any online purchase you aren't able to see the actual product other then a scanned picture or downloaded digital picture. Once you get in front of a jeweler with an idea of what you are looking for, always remember that the asking price isn't necessarily the selling price. More often then not, as with any salesperson, they will barter with you to make the sale. Remember, a diamond doesn't pay the owner's bills sitting in a display case or safe!
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