Current Diamond Prices
When it comes time to buy a diamond sometimes it gets a little stressful as you walk into a jewelry store and feel like you might be being put on. I mean who really believes that the store is actually discounting their prices 75% off. If they had it marked up that high then how in the world are we supposed to know what a normal retail price for a diamond really is? It’s complicated when you look into it. A search on the internet will take you through several pages of spam related sites with no real information about current diamond prices in site. The Rapaport Price List is the first real unbiased informative price list I came upon. Jewelry stores use it to price their diamonds and so should you if you can figure out how to use it.
Top 5 Tips to finding the current diamond price
1. Find a few diamond stores
You need to go to at least 5 different diamond stores in town. I went to James Avery, Sam’s wholesale, Americus Diamonds, and Jim’s Jewelers. I asked about what type of certification they had for their diamonds, if they were clarity enhanced, what carat, cut, color, depth and quality they were. I wrote this information down along with the diamond price and compared. What I discovered through this process is that certain stores would come down on their price once they realized you were shopping around. This allows you to establish even further what the real retail prices out their are.
2. Learn about the Diamond certification agencies out there.
There is the GIA certfied diamond. The diamond stores that offer these diamonds are serious. They advertise to the consumer in the know. The GIA certification is a certification of the diamonds quality and not a price appraisal. It is very important to know the diamond you are buying is worth the price you are paying for it. Knowing that your diamonds has a guarantee to be a certain color, cut, depth and quality gives you the peace of mind you need before forking out $5,000 or more if you are buying a large diamond. Even if your spending $3,000 it’s still very important to know the quality of the diamond. There are a few other certification agencies but they are diamond appraisals rather then a certification of the diamonds quality. Many of these appraisals are allowed to be done by the jeweler selling you the diamond. This type of appraisal is not to be trusted. If I can be as clear as possible, make sure you get a GIA certified diamond. GIA certified is the standard.
3. Get on Craigslist.com
Skip looking around on ebay. There are many stores on ebay selling diamonds and many of these sell clarity enhanced diamonds. A clarity enhanced diamond is one that is filled with glass in any cracked areas to make it look like their are no flaws. Not to say that all ebay diamonds are like this but the ones that are not like this have a suspicious way of getting bid up beyond a discount price. Ebay can very easily get you in trouble with something you haven’t actually seen and that does not have a GIA certification.
Craigslist on the other hand has many recently previously engaged people that had a recent broken relationship. They have the “I don’t want it syndrome”. Many times they still have the receipt of the store they bought it at. Several jewelry stores will give you a chance to trade in your ring for something at least 20% greater in value.
4. Make use of the “I don’t want it syndrome”
Now what you do is buy your diamond ring from one of these recently heart broken people, God bless them. I really hope they find someone else but you can help them move on. You can likely get $1,000 to $2,000 off what they paid for the ring. If they bought it at a store that allows trade ins then you can actually buy an even nicer ring of your choice at 20% or greater value. One of these stores that offers such a choice is Americus Diamonds This store like many just like it have daily low prices with sales people that earn no commission. You can go in and not have to worry about whether or not they have their 75% off sale that day. There are many other discount jewelers out there with this type of trade in and sales policy. If you don’t understand yet, you are in charge of finding the current diamond prices with just a little research and work. This article will lead you to water but you have to drink.
5. You make out with a wholesale diamond ring of your choice.
That’s all there is to it. You buy a ring from someone who was recently broken up and you trade up. There are not many people who know about this yet so I would take advantage while it’s not spread across the internet. You have the knowledge so get on it!
The author is a energy trader on a large trading desk in Texas for one of the 40 Retail Electric Providers. He has over 30 years of experience trading energy and writing Risk Management policies for Electric companies.
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