You probably know how much you paid for your diamond engagement ring, tennis bracelet, necklace or earrings. Do you ever wonder what they’re worth now?
You may have always guessed at the value of the diamond brooch you inherited from Aunt Emily, or the loose diamonds you found in your parents’ safe deposit box after they passed. Isn’t it time to find out what they’re really worth?
It’s easier than you might imagine: just send your jewelry or loose stones to the experts at Luxury Buyers for a quick, free and secure diamond appraisal. You may discover that you’ve been sitting on some serious cash without even knowing it.
What’s Involved In Online Diamond Appraisals?
If you have a general idea of the piece (or pieces) you want appraised, Luxury Buyers can give you a ballpark idea of its worth in an email or phone call. We’ll need to know things like the details of the setting and the diamond (size, color, clarity and cut), whether it’s GIA certified, whether you bought it from a name designer like Cartier, Tiffany & Co or Harry Winston, and if it’s been appraised in the past.
For a more complete and accurate evaluation, of course, we’ll need to have our experts inspect the diamond jewelry or loose stones. The process is fully insured through every step, we cover the postage both ways, and it only takes a few days. After that, we’ll be prepared to make you a realistic and generous offer for your jewelry – or to ship it back to you if you decide you want to keep it. It’s as simple as that.
The beauty of having your diamonds appraised by a reputable buyer like Luxury Buyers (other than the fact that you only have to walk to the mailbox) is that you don’t have to worry about whether the people evaluating your stones know what they’re doing. We’ve been doing diamond appraisals for decades, and have a staff trained not only in the nuts and bolts of appraisal, but also experienced in recognizing vintage older than 25 years, antique older than 100 years and rare pieces which will bring much more on the secondary market than an inexperienced jeweler or pawnbroker would guess. And unlike local retail jewelers, we don’t have to take time out from your appraisal to help customers who walk in the door; our appraisers work full-time at evaluating jewelry and devote all of their attention to it. Some retail outlets or pawn shops will just look up an approximate price for a diamond (on the Rapaport Diamond Report or similar table) based on an estimate of its size and a guess at its other attributes. Not us. We fully appraise every stone sent to us.
How Are Diamonds Appraised?
Most people who own diamonds are familiar with the “4 C’s” – carats, cut, color and clarity. Those are the primary factors involved in determining the value of a diamond, and if a piece of diamond jewelry like an engagement ring, bracelet or necklace is being evaluated, the value of the precious metal must also be considered.
Before that stage of the appraisal can take place, however, the piece must be checked for a number of other potential issues. First, of course, is to ensure that diamond is real and not man-made, and that it hasn’t had its color or structure altered. If the stone has had a permanent or temporary treatment applied, or if it has been damaged in some way (chipped or cracked, for example), that would affect the value of the diamond.
Once those preliminary checks have been done, our experts can get down to the serious appraisal. The stone’s size will be meticulously measured, the diamond will be inspected under a microscope and with special tools that can check its cut, clarity, fluorescence and other attributes. It will also be compared to standard stones to properly determine its color. All of the metrics will then be checked against any previous GIA certifications or appraisals, to be sure that the stone is indeed everything it’s supposed to be. We’ll also do a rigorous inspection of the setting or piece, determining the type of metal, its quality and age, and whether it is vintage, antique or rare.
Having learned everything we need to know about your items, our experts will then prepare a diamond appraisal for you and we’ll make an offer to purchase your diamond jewelry. The rest is up to you.
Understanding Diamond Appraisals
Many people are shocked when they receive their diamond appraisal because it’s much lower than they had expected. There’s a good explanation for that common reaction.
When you first buy diamond jewelry, the setting and the stone – whether it’s certified or non-certified, sparkling white or fancy colored, half-a-carat or five carats – will normally be appraised for insurance coverage. This “retail replacement value” determines the amount that the piece is insured for; in other words, it’s the price you would have to pay to replace the item with an exact duplicate, in the event of loss or theft. It’s only used for insurance purposes, and is a very different number than the actual cash value of the jewelry.
Why is there such a difference? When you pay retail price for jewelry, you’re paying for a lot more than the actual value of the stones and setting. You’re also paying for all the work that was done to produce the piece: everything from mining the metal and the gems, to cutting and setting the stones, to transportation, advertising and other fixed costs. Additionally, there’s profit made all along the production chain, and sometimes a premium is even tacked on for a brand name piece. All of those costs mean that the actual cash value of jewelry is much lower than its original price tag.
Here’s what that means: unless you specifically want an appraisal done to determine replacement value, a diamond appraisal from Luxury Buyers (or from anyone else) will be for the actual cash value of the jewelry – the amount that the piece is really worth when bought or sold on the open market.
Once you know the appraised value of your jewelry, you can intelligently consider offers from potential buyers. And with a large customer base that’s always ready to snap up new pieces which come onto the market, Luxury Buyers has the ability to offer more for your diamond jewelry than anyone else.