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:
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!