A Shopper’s Guide To Buying Loose Diamonds At Just The Right Price
Is your 50th wedding anniversary coming up? Gifting your loved one diamond stud earrings or a beautiful brooch is an incredible way to commemorate this event. Presenting her with a loose diamond, sitting in the middle of a velvet lined box will be even better!
Is your budget holding you back? Navigating the diamond market can become confusing, especially if you are a first time buyer. Furthermore, loose diamonds hold a completely different selling/buying structure that you must be aware of before venturing inside.
Calculating Diamond Costs
The very first thing that must be understood before delving deep into pricing variable and mechanisms of loose diamonds, is the concept of price per carat.
Cost = Carat Weight x Diamond Price per Carat
Additionally, the numbers for price per carat are derived from widely used price sheets (Rapaport and IDEX).
In the past, this information was only available to industry members—diamond sellers and traders. They have now been made available to the public, i.e. the reliable price figures can be purchased. Below is an example of a market price sheet:
Price Guide: (1.00 – 1.49 CT.): 19/October/2016
First Time Diamond Buyers Need To Tread Carefully
Not many consumers know, but Rap report doesn’t take several important factors into account when determining established market price. Additionally, the figures represent average of high cash asking prices when diamonds are traded. The factors not considered by the above report are:
- Diamond’s cut
- Payment terms
- Certification from grading lab
- Grading accuracy
Find the Right Diamond Price by Researching Online
Conducting price comparisons with help from online diamond retail listings will make your job a whole lot easier. Price comparisons will also provide an accurate measure or ‘base cost’ of similar loose diamond prices being sold in the market.
Make Apples to Apples Comparison
An accurate comparison is only possible when several differentiators are eliminated from the research. Ensure a fair diamond price comparison by selecting the same qualities when selecting the 4Cs of your diamond.
What Are The Price Adjustment Factors for Diamonds That Feature Same 4Cs?
Ask yourself the following questions when setting the parameters for the ideal diamond within your budget:
- What are the symmetry and polish grades?
- Is there any presence of fluorescence?
- Is the diamond eye-clean?
- How perfect is the diamond cut?
- Does the diamond have a cutlet?
- Are there any inclusions or imperfections?
- What is the color/tint/hue of the diamond?
- Is the grading report from a reliable (GIA, AGS) or unreliable (EGL, IGI) lab?
One of the most important considerations when it comes to purchasing a beautiful loose diamond is budget. Don’t let this factor hold you back! JBE Diamonds Inc. offers an extensive and truly beautiful collection of loose diamonds in all cuts, carats, and grades. So, put in your search parameters and browse away!