Buying a diamond does not conjure the gut-wrenching emotions as seen in commercials. In fact, purchasing a diamond can be more stressful than buying a new car. Unlike a pair of earrings, a necklace and bracelet, buying a diamond ring for a betrothed comes with significant consumer savoir-faire. (After all, why pay more than necessary?)
Despite, the diamond’s ability to be a girl’s best friend, these gems tend to be overrated. At the beginning of the millennium (2000), diamonds were marked up by more than 60 percent. The present mark-up price for a diamond, today, runs roughly between 20 and 40 percent. A decent quality 1-carat diamond is around $5000. Although, 2-carat diamonds have a wide price variation ($6,000 – $32,000), lower- priced ones are usually tantamount to purchasing 4-figured rubbish.
So, for those about to shop for a diamond ring to pop the question, here are a few smart consumer-shopping tips provided by http://TheConsumerJournal.com :
7-Diamond Shopping Tips
1) Research. Research. Research. Visit online resource sites about diamonds; such as, PriceScope.com and DiamondHelpers.com.
2) Shop at stores where the jewelers are trained in gemology. It can save time and anguish if the diamond needs to be reset or repaired. (When it comes to making repairs, jewelry stores without in-house gemologists may add a hefty service charge).
3) Request to review the diamond’s lab report. The best way to verify an authentic diamond from a synthetic one is to request that the jeweler provide a copy of the diamond's certification. The document maybe issued by either the Gemological Institute for America (GIA) or the American Gem Society Lab. The report validates that the stone has not been treated and describes its preciousness based on the four-C's diamond grading system:
4) Opt for a deal on a diamond. To save money, shop for diamonds that have been clarity enhanced or fracture-filled.
5) Never buy a diamond as an investment. Investing in the stock market is significantly more rewarding than purchasing a diamond. For example: in 2005, only six percent of diamond jewelry purchases were more than $3000 and accounted for 44 percent of the entire diamond market’s value.
6) For pre-designed (non-customized) purchases, request a 30-day guarantee. In the event that engagement plans go awry or that the ring is unsatisfactory, ask for a 30-day cash credit opposed to an in-store credit.
7) Protect your purchase. Prior to leaving the jewelry store, review the receipt to ensure that all representations regarding the diamond are well documented on the bill of sales.
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