Diamonds are priceless. That’s why experts advise getting an independent appraisal for loose diamonds to ensure you’re paying the right price for the precious stone you’re buying. Did you know appraisals are not the same as diamond grading? We simplified the total know-how on what is an independent appraisal to finding the best appraiser for your loose diamonds. It will help you keep away from scams and find the best diamond you’ve ever seen. Get started already!
What is Independent Appraisal for Loose Diamonds?
An appraisal refers to the evaluation of a precious rock to assess its value based on the crystal structure. Appraisal for Loose Diamonds is necessary to ensure you’re paying the right price for the rock you buy.
Diamond appraisal refers to the value of a diamond using the appraisal tests and checks. An appraisal helps to identify whether a loose diamond is fake or not, in addition to its value. However, appraisals are not bills or receipts of purchase that gets reimbursed at the time of exchange. An appraisal helps you assess the real values of a stone based on its intrinsic flaws, illusions and nature.
In addition, diamond grading and appraisal are often used interchangeably, yet both are distinct. While diamond grading assesses nothing but the specifications of the stone, a diamond appraiser also encloses the market value of the stone.
Read more on Appraising diamonds for engagement rings.
How to Get an Independent Appraisal for Loose Diamonds
Now that you know appraisals are mandatory for diamond purchases, you need to decide ways to get an independent appraisal for the loose diamonds you want to buy. After getting the approval of the diamond vendor to inspect the stone with a third party gemologist, you can proceed to the following steps to get an independent appraisal for loose diamonds you’re planning to buy.
1. Find a Certified Gemologist
Your first task is to find a gemologist who is qualified to evaluate your loose diamonds. It is best to use an independent appraiser instead of the gemologist provided by the jewelry store to ensure unbiased and reliable conclusions.
2. Give your Diamond for Analysis to the Gemologist
Once you’ve found the right appraiser for your stone, entrust the precious rock to the appraiser for analysis. He/she uses state-of-the-art technology to assess your stone under a magnified loupe.
3. Get the Appraisal
Next, receive the appraisal and compare the selling price with the value of the diamond. Once you’ve independently appraised the stone, re-selling it will be hassle-free. You can also ask doubts about the stone to the appraiser while reading the report.
How to Select an Appraiser for Loose Diamonds
Whether you’re buying the ring offline or online, an appraiser will have to see the ring personally. Hence, if you want to appraise your loose diamonds independently, the online thumbnail image is not enough. We’ve rounded the complete set of ways to find the right appraiser for your precious diamonds.
· Credibility
The first thing to remember when picking independent appraiser for diamond jewelry is the history of the gemologist. Does he have a keen eye for value? How many people who appraised from the same Gemologist do you know?
Entrusting a precious bauble such as diamonds is not good unless you can trust the appraiser.
· Fees
Every gemologist or appraiser charges a fee for the labor and conclusions drawn from the report. The same fee differs from person to person. If you have a pre-set budget for appraisal, select your appraiser after crosschecking the fees.
· License
You must reassure the certifications as well as licenses possessed by the Appraiser. Without authentic certificates, you can never trust diamond appraisers. Seek a license or academic qualification of the diamond geezer before you trade.
· Valuation
When you’re picking the best appraiser for your diamonds, it is best to run a thorough check on the person. You must ensure the gemologist actually has the heavy machinery and paraphernalia to observe the traits of the diamond singly.
When should you appraise your diamond?
Appraising a diamond is important right when you buy the precious rock. While most diamond sellers with a credible reputation provide a free appraisal of the diamond stones you bought, you can appraise your diamonds independently before or after buying it.
Besides the time of purchase, you can also appraise the diamond when insuring your commodities. Try it out the next time you’re shopping and you will know whether you’ve made a swooping profit or loss on the rock since you bought it.
Before you go …
Finding an independent appraiser is not tough if your appraiser is really independent. As diamond vendors tie up with appraisers, you must select the gemologist for your loose diamonds carefully.
Read more on Why Get an Independent Appraisal if you’re buying diamonds.
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