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You know you need a diamond appraised and you found a good appraiser that you can trust, but you don’t quite understand what an appraiser does. There is a definite need for an appraiser because with the new technologies comes more ways that an unknowing diamond buyer can be taken advantage of. The appraisal should always be in writing. When you have an independent appraiser, it will help you avoid the following when buying a diamond:

Diamond has a temporary or permanent treatment applied to it Color altered diamond A diamond that has filler added Man-made diamond being sold as a real diamond Different diamond delivered than that which was purchased Damaged diamond Inaccurate or altered grading document Diamond doesn’t match the grading document Incorrectly cut diamond

In addition to having an accurate appraisal of a diamond for purchasing purposes, it is important to have an accurate appraisal for insurance purposes as well. An inaccurate appraisal given to an insurance company can be interpreted as fraud. Jewelry stores, auction houses, pawnshops, and other businesses that sell diamonds or diamond jewelry offer “in house” written appraisals. Not all appraisals that are not accurate are appraised wrong to take advantage of the buyer, some appraisers just are not trained properly or are not certified. Though many were done correctly, there were enough done fraudulently and inaccurately that there became a need for independent appraisers. Buyers feel more secure when someone who does not profit from the sale of the diamond does the appraisal. VARIOUS TYPES OF DIAMOND VALUE When you request an appraisal, you will need to let the appraiser know what the appraisal will be used for. The appraisal will be different for an insurance company than for a diamond purchase.

Retail value-this is what it will cost to replace the diamond. This is often used for insurance purposes and may be the average of three different estimates. Market value/fair market value-this is what the diamond is worth in the current market. Current supply and demand will have an impact on the value of the diamond. Sale price-this may or may not be an actual lower price. The original price may be manipulated to make the sale price appear like a better deal than it actually is.

Buying diamonds from a reputable and established jeweler, like Gray & Sons is always recommended. Gray & Sons Jewelry has been in the jewelry business for over three decades. Diamonds can be bought and sold online or from their jewelry showroom in Miami, Florida. To keep up on the latest diamond jewelry available, request a free catalog.