A Guide To Getting Your Diamonds Valued

May 31

A Guide To Getting Your Diamonds Valued

Diamonds and diamond jewellery can be a great asset to have if you ever need a quick cash boost in unexpected circumstances. That’s why it’s a good idea to get it valued so you know approximately how much you have to hand. Take a look at our guide to find out more about what this involves.

• Loose stones or jewellery?

You can obtain a valuation for both loose diamonds and those set in jewellery such as engagement rings and bracelets, so it’s worth going through your jewellery collection in full to see what you have available. You might be surprised at what you could get for your pieces, depending on the quality of the diamonds.

• In-person or remote valuations?

You can take your diamonds to a physical valuation centre and actually observe the experts while they examine your assets, which is a good idea if you’d like to have the chance to discuss the value of your diamonds in person. However, you can just as easily arrange a valuation by post if you don’t have the time for this.

• The four Cs

Diamond valuations are based on an expert’s opinion of how well the stone meets recognised grades and classifications for colour, clarity, cut and carat, although it is the carat element that has the most influence on prices.

Colourless diamonds with no imperfections, an excellent cut and a high carat weight will be worth the most, but are extremely rare. Values will otherwise vary quite significantly depending on the four Cs.

• Expert qualifications

The experts who examine your diamonds will usually hold qualifications that show they know what they’re talking about. When looking at the credentials of potential valuers, it’s a good idea to note any endorsements from or associations with organisations such as:

• The Goldsmiths’ Company
• The Royal Institute of Chartered Surveyors
• The Gemmological Association of Great Britain
• The Gemmological Institute of America
• The National Association of Goldsmiths
• The Institute of Registered Valuers
• The National Association of Jewellery Valuers
• The Appraisers Association of America

This will help you ascertain who best to turn to for a valuation.

• Market fluctuations

One thing that’s important to remember is that diamond prices change in line with the market, just like any other commodity. So, the valuation you receive may not be the same a few months or even weeks down the line thanks to factors like the state of the global economy, supply and demand, and recent developments in the diamond industry.

To give you an example, diamond prices rose by 1.8 per cent in March compared with the previous month, according to the IDEX Online Polished Diamond Price Index. However, they were still 3.3 per cent lower than in March last year, giving you some indication of how much the market can fluctuate.

That’s why it’s wise to get your diamonds re-valued if you do decide to release their value some time after their first appraisal, so you know exactly what you will get when you do sell your diamond ring or take out a loan against that diamond necklace you’ve been treasuring for years. The latter might be a particularly sound option if you want to keep your prized piece of jewellery and potentially release its worth again at a later point.