Our most frequently asked questions.
There are several different factors when assessing the value of your diamond. Firstly is determining the 4 C’s of your diamonds (Cut, Clarity, Carat, Color). Once these have been determined, we will make you an offer on your diamond.
Most appraisals are issued for insurance replacement purposes. The amount on the appraisal is to ensure you that if your ring is lost or stolen over the next five years it can be replaced with equal quality. Your appraisal must account for currency fluctuations. (Diamonds are bought in and sold in U.S. dollars on the world market) and also must account for changing diamond prices. Our offer to you is for immediate payment, often we have to re-cut the diamond or renew the ring style and sell it into the wholesale market again.
A certificate is a diamond grading report issued by an independent laboratory detailing the diamond’s weight, dimensions, color, clarity and cut. The GIA (Gemological Institute of America) and AGS (American Gem Society), whose standards are the strictest in the diamond industry, are the undisputed international authorities on diamond grading and gem identification.
You will realize the highest price by selling your diamond ring to a friend or acquaintance that appreciate it. If that is not the case, we can post your ring on our gallery and will help you sell it for a reasonable commission.
A buyer’s premium is a stated percentage added to the winning bid to determine the total price paid by the buyer. Our premiums are fully disclosed within the bidder contract and hover at or below the industry standard. The buyer’s premium is charged after the sales tax is applied.
EXAMPLE: If an item sells for $1000.00 and the announced buyer’s premium is 12%, the total cost of the item will be $1120.00 plus all applicable taxes.
Fine Jewelry-Diamond Value vs. jewelry Diamond Appraisal
How does a your jewelry or Diamond Appraisal reflect what you can expect to sell a diamond for?
Many of our customers provide us with an appraisal in our first meeting. It is often one of our more challenging discussions as we explain that appraisals are issued for insurance replacement purposes only. In other words, that really high dollar amount on the appraisal is to ensure you that if your diamond is lost or stolen over the next five years it can be replaced with one of at least equal quality. Your appraisal must account for currency fluctuations: diamonds are bought in and sold in U.S. dollars on the world market and also must account for changing diamond prices.
On the other hand, we assess the value of your diamond (and the price offer we can provide to you) based upon a number of factors including:
- The four Cs: cut, carat, clarity, colour
- Certification Details (GIA, AGS etc….)
- Ease of resale of your cut (for example, round brilliant diamonds are the easiest to resell)
- Whether re-cutting required: for example, an old mine cut might need to be re-polished
Although we appreciate that you may have paid more on a branded diamond ring (ex: Tiffany®, Cartier® Tacori®), we cannot value the diamond based upon the brand of the ring. Our value (which is the price offered to you) is almost exclusively based on the intrinsic diamond value. We offer a price also on the setting (the metal, whether gold, platinum, etc…).
While we generally cannot offer anything close to the dollar figure on your appraisal (and we try to explain this as gently as possible, although it is a touchy conversation when hopes are high!), what we do offer to you is immediate and fair payment (cheque, cash or money order depending on amount). Nothing makes us happier than a satisfied customer who refers other customers to us!