Services

• Appraisal Services

News & Events

• Articles
• Classes & Seminars

General Info

• FAQ's
• Glossary

"The American Society of Appraisers is the country's oldest multi-disciplinary appraisal certifying organization and has a strict code of ethics as well as a stringent re-certification program which is required at 5 year intervals. This program assures up to date gemological and valuation competence of all senior members."

Following are facts you must know before purchasing your next diamond as well as the most common questions my students and clients have asked over the years. If you are searching for an answer to a question that you don't see addressed here, go to www.igsdiamonds.com or feel free to e-mail me with your question.

-- Ed --

Q. What are the most important things I need to know before I buy a diamond?

First, realize that, like automobile sticker fine print or long distance phone charges, when high dollars are involved many sellers will use deceptive tactics.

Second, educate yourself (the web site for our diamond company <www.igsdiamonds.com> contains excellent information).
Third, deal exclusively with G.I.A. certified diamonds and become familiar with their grading.

Fourth, keep the sale protected so you can return the diamond after third party review. Fifth, work with a competent appraiser, have him verify the diamond, buy a good quality loupe (its a lifetime investment) and don't leave the appraiser until he shows you some landmarks on your diamond you can identify with your loupe.

Q What do the 4 C's mean?

Color, Clarity, Carat weight and Cutting. While many people have some grasp on the first three, it is cutting that is most confusing. Cutting does not refer to the shape of the diamond. It refers to the quality of the cutting which might be the most important quality factor of all. For a review of the four C's, you may wish to consult the educational information on our diamond company site at www.igsdiamonds.com.

Q What is a "point?"

A point is one hundredth of a carat (.01ct). Think of points like percentages. A 25-point diamond is 25% of a carat (or a quarter carat.) A 1ct diamond is a one hundred point diamond.

Q Is a carat the same as a karat?

No. The word carat refers to a unit of weight (.2g) traditionally used for diamonds and gemstones. The word karat refers to the fineness or purity of gold. Example …the 1.2ct (carat) diamond was set in a 14k (karat) white gold lady’s ring.

Q Is Italian gold better than American gold?

No, they are the same. Gold (symbol Au) is a naturally occurring metal that is atomic number 79 on the Periodic Table. Gold is gold no matter where it is mined. Various karats (dilutions) such as 10K, 14K and 18K are made through the use of alloying metals like copper and silver.

Q Why is platinum so much more expensive than gold?

Platinum is used in jewelry at 90-100% pure, so it is nearly all precious metal. Gold is used at 42% (10K) to 75% (18K) so there is a nearly 2:1 ratio of amount of precious metal. Second, platinum is more expensive than gold by about 2 times. Third, platinum is much denser than gold (about 1.6 times the density of 14k) which means the same size piece in platinum weighs 1.6 times the identical piece in 14k. Combined, this accounts for platinum being over 5 times the cost of 14k gold on the metal side alone (without consideration of labor).

Q Can I stay with my items while the appraisal is performed?

YES, most certainly. I enjoy your presence and encourage you to stay, learn and ask questions.

Q How do I determine which of my items to appraise for my insurance policy?

You must first consult with your insurance agent. The appraiser can’t answer that. However, once you determine the minimum value of an item for appraisal, the appraiser will be happy to do a sorting for you.

Q I am thinking of selling a diamond ring in the newspaper. Does that mean I need a Fair Market Value appraisal?

Technically yes; practically no. The use of Retail Replacement appraisals as reference has been done for so long, the advice is to jump in and sell with a Retail Replacement appraisal. Most of your prospective buyers will not be familiar with a Fair Market Value appraisal and will want it discounted as though it were a Retail Replacement appraisal.

Q Why if you appraised my ring for $5,000.00 is the pawnshop only offering me $1,000.00 for it?

Is the $5000.00 appraisal a Cash Value appraisal? If not, you are comparing apples to oranges. If the appraisal is Retail Replacement, you are comparing the item's retail value in a modern jewelry store (new) with its cash value as offered by a professional buyer. This is the most frequently misunderstood feature of appraisals.

Q A counter person at a secondhand shop told me my diamond was an "old miner" and not worth anything. What’s an "old miner"?

While there is an Old Mine cutting style, most of these diamonds are actually Old European cuts. These diamonds have a round outline (rather than square for the Old Mine) and are reasonably abundant in comparison to their predecessor the Old Mine. To the contrary, these diamonds are certainly not worthless and are frequently re-cut to beautiful stones or left in their original form as a beautiful token of an age gone by.

Q I have an old white gold ring and the inside is stamped "Pall", what does that mean?

Your ring is not white gold, it is palladium, a very durable metal that sees some limited usage to this day. Palladium is another noble medal like gold and platinum.

Q How is a single cut diamond different from a full cut?

A single cut diamond has far fewer facets than a full cut and costs less to produce. These diamonds are erroneously called "chips" which they are not. In small stones of equal quality, single cuts are 25-30% less expensive than full cuts.

Q What’s the best way to identify my diamond?

There are several methods that can be used for this purpose. The marking of the girdle with a laser inscription is excellent. Exact measurements combined with certain physical properties is another. Nature and location of inclusions is yet another. Learning these methods is not as difficult as many people think. A good 10X (ten power) loupe is necessary, however.

Q What is a "laser drilled" diamond?

Laser drilled diamonds are those that have had their clarity improved by drilling to an unsightly inclusion followed by immersion in a powerful acid solution to dissolve out the imperfection. This used to be a technique a seller had to inform the buyer about. Presently, the buyer need not be informed under Federal Trade regulations. Laser drilling is now considered part of the cutting process. Note: Not all diamond people feel this is a proper interpretation.

Q How often should I have my jewelry appraised?

Many recommendations and company requirements have been mentiond over the years. To be certain, check with your insurance agent. Five years is probably a wise time period for "renewal."