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Resale value of diamonds: A good selling price for diamond jewelleryBY: Swati | Category: Shopping | Post Date: 2009-08-22
"Diamonds are forever", we have all heard this phrase over and over again from our grand parents and possibly parents. Diamonds were considered precious even among ancient human civilizations. Obviously the question is - What exactly makes diamonds so precious and valuable. The common part among metals (ex: gold, platinum etc ..) and precious stones (like diamonds, ruby etc..) is that they all of them have a shine and all of them are extremely rare.
Among all precious stones and metals combined, diamonds are the costliest. Diamond is also the world's hardest element, therefore only a diamond can cut another diamond. Infact the cost of diamond rises exponentially with size (or carat). Most diamond businessmen buy raw-uncut diamonds from diamond mines, it is then cut by experts and resold in the open market or in an auction. Resale value of diamonds is a large subject and there are many factors that decide the value of your diamond jewellery when you decide to sell. Most buyers will try to give you minimum value for your diamonds since there is no standard price printed on diamonds themself. The resale price of diamond keeps changing with time. The price of diamond also varies differently in different countries.
What determines the price or the resale value of diamonds:
What is the true value of diamonds, what is the resale value of diamonds are some questions which often cross our mind. The value of a diamond is determined by 4C's: Clarity, Color, Cut and Carat Weight. Each diamond has a personal score based on the combination of all these factors. Therefore a transparent/white diamond, which is large, has a good cut and does not have impurities or noticeable inclusions will have a very high score. The resale value of such a diamond will be very high.
Carat weight directly equates to the size of the diamond.
Colorless diamonds are the most desirable diamonds. Diamonds are graded on a scale of D (almost clear white) to Z (useless diamonds).
Diamonds can contain impurities, inclusions or slight imperfections. A Large number of impurities lowers the score of a diamond. Some impurities are so small that they are invisible to the naked eye, in that case the resale value of the diamond may not be too low.
The cut of a diamond depends a lot upon its uncut shape and then how a human expert can cut it. The cuts are determined based on how the diamond will glitter (reflect and refract light).
Blue and Pink Diamonds:
These days some specific shades of flawless pink and blue diamonds are the costliest. These shades are also extremely rare. For example, Pink diamonds cost at least 20 times more than processed white(colourless) diamonds and only 40 to 60 pieces are available worldwide, with each stone weighing 40 to 60 carat.
Other interesting facts about the resale value of diamonds and their valuation:
There are experts who actually have to do an academic course on how to value diamonds. Jewellers and other experts also put a value of the diamond based on some pre-determined rules and their experience. Therefore the valuation of diamond may slightly differ among different experts. Therefore if you are planning to sell your diamond jewellery, you may get different prices based on the person valuating it.
Good diamonds are like a collectors item and their value keep rising with time. Therefore if you want to buy a diamond for investment purpose, always buy one good quality of diamond instead of buying several low quality diamonds. Low quality diamonds cost more to the buyer but they fetch a very low value when they are resold.
Costliest diamonds of the world:
1. The Golden Jubilee, Weight: 545.67 carats , estimated worth $4-$12 million.
2. The Cullinan I , Weight: 530.20 carats, $400 - $500 million.
3. The Incomparable, Weight: 407.48 carats.
4. 4. The Cullinan II, Weight: 317.40 carats.
5. The Spirit of de Grisogono, Weight: 312.24.
6. The Centenary, Weight: 273.85 carats.
7. The Jubilee, Weight: 245.35 carats.
8. The De Beers, Weight: 234.65 carats.
9. The Red Cross, Weight: 205.07 carats.
10. The Millennium Star, Weight: 203.04 carats.
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