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Published On: Mon, Oct 9th, 2017

How not to get conned while buying a diamond

You buy your diamond with love and care. Years later, when you’re getting it appraised, you are informed that it’s not nearly as valuable as you were led on to believe. Sure, the ring has sentimental value to you and your family and partner, but when you think about the money you’ve spent on the stone, you can’t help but cringe. If you’re lucky, you can demand a redressal of the issue. If not, you’re left with a dent in your savings and a bad taste in your mouth. Is there a way to not get conned while buying a diamond?

There is.

Here’s how.

photo courtesy of ascot diamonds dallas

1. Do your homework

It’s easy for a veteran vendor to know what the nature of the customer is. From the moment you walk into the store, you’re being assessed for whether you’re there to window shop or buy, if you know your diamonds or are going to rely on the experts, whether you’ll be an easy or difficult customer. There’s no harm in relying on the expert, but do your homework as well. Understand what it means to buy a diamond and what it entails. Go online, get on the forums, track news, ask questions and be better informed.

2. Learn about the 4Cs

This is the holy grail of all diamond evaluation. Read up and understand:

Cut

The right cut diamond will have facets that catch the light in just the right angles and cause brilliance to happen. The flash of the diamond comes from the cut of the stone, to a large extent.

Clarity

The clearer the diamond, the better the quality of the stone. It’s hard to find a perfectly clear stone- what you can look for is a stone with very little or very small flaws and inclusions. If it’s not visible to the naked eye, and can flash light, then that may be a good thing to consider.

Colour

The most popular diamonds are colourless, or white. They are versatile, have good resale value and complement other stones. Black diamonds are in vogue this year, but trends come and go and colourless diamonds have not gone out of style yet. Colour is fine, but do consider what you need the diamond ring for.

Carat

The perfect carat number, a round number, costs a lot. That’s because these large stone dimensions are harder to find in nature. Carat determines the size of the ring- a one carat diamond can be made up of a series of small stones as well. Or you can go in for one single stone. This is something to think about.

3. Understand your budget

All of us dream about a large diamond on our finger, or a huge stone to gift a loved one. Sometimes it’s not possible because of spending constraints. Be clear about how much you want to spend on the stone. You could get financial assistance or a loan, but it may not be worthwhile if you have to spend the next year or two paying it off. So don’t let people convince you to buy a bigger stone or a more expensive setting. Be clear about how much you can afford and buy a stone of your choice. The best part? You can always upgrade at a later point of time in your life when you’re in a more comfortable position.

4. Trust a good jeweller

There are people who have been in the business of diamonds for years and generations. They know this stone in and out and can be invaluable in your journey. On the other hand, you might be tempted to go to a store that offers great deals, too good to be true options and you might end up making a really costly mistake. Part of your research must also include who the trusted jewellers in your city are. Go to the store, be open about your requirements, listen to their advice and make good decisions.

5. Insist on certification

A simple way to know that your purchase is legitimate is to ask for a certification with your stone. The certificate will give you all the details you need about the stone and can be very useful for any number of things- for insurance, appraisal, resale, etc. Get a grading report and a number on the stone as well.

6. Online purchase

It’s not a great idea to buy online, but if you are check the credentials of the seller on the site. Ask for the purchase history and origins of the stone and the certification. But again, online purchase for such an important piece of jewellery is not advised. Put your faith in a store, rather than an online vendor.

Go to someone reputed, take your time with the decision making, and come home with the most gorgeous stone you can find.

Author: Pankaj Deb

On the DISPATCH: Headlines  Local  Opinion

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