Renowned for their durability and brilliance, a diamond is the most infamous gemstone in the world. Because the price and quality of a diamond can depend heavily on how it is cut and shaped, it’s possible to save money by purchasing rough or uncut diamonds for wholesale prices.
Most buyers who opt to purchase rough diamonds then have the diamond cut down into either one or multiple stones by a professional gem cutter or jeweler. Buyers and jewelers typically go this route if they have a particular style or design that they want to fit the diamond into and can’t use a standard, already-cut diamond.
If you’re planning to purchase rough diamonds, know that this can be a great way to save money, but it can also be a great way to get scammed. Before you make a rough diamond purchase, you need to be aware of the product and the market. So, keep reading for some critical tips that will help you with your next rough diamond purchase.
1. Always use an accredited and respected seller.
Even though they’re not yet cut and shaped, rough diamonds are still an expensive commodity. As with any major purchase, you should do your business with a seller or retailer whom you trust and believe is accountable. In turn, stay away from unreliable or potentially suspicious sources that could be trying to sell illegally stolen or fake diamonds.
2. Look for an ethical or conflict-free product.
Because rough diamonds are easier to sell and unload on the open market, it’s important that you don’t inadvertently sell an illegally procured or unethical diamond. Diamonds that are certified under the U.N.’s voluntary Kimberly Process certification program are conflict-free and their purchase will not fund arms or military conflict.
3. Always seek an expert’s advice.
If you can afford it, bring an expert appraiser along with you when you go to make your rough diamond purchase. Otherwise, ask the seller for an escrow arrangement where the purchase funds are held in trust until you can have the stones appraised by an independent gemologist or lab. If the seller is unwilling to guarantee their product or allow for an inspection, look for another seller.
4. Have your rough diamond appraised before and after you bring it to a jeweler.
While jeweler fraud is rare, it does occur. If you’re bringing a rough diamond to a jeweler to have it cut and shaped, bring the appraisal with you and let the jeweler know you’ll be having it appraised after the piece is cut. This simple action can prevent the temptation of fraud or possible misrepresentation.
Source by Jared Adams