An Introduction To Diamonds – Their Value And Depreciation
If you have old diamond jewelry that you are considering reselling, don’t doubt yourself! Do diamonds increase in value over time after purchase? The simplest answer is, no. One thing about diamonds is that they depreciate over time. However, it doesn’t mean that you cannot get anything out of reselling your old diamond jewelry. Unlike other precious stones, a diamond is made of a single element. It is about 99.95% carbon, and the remaining % comprises one or more elements that influence its color. Thus, if you own diamond jewelry that you are not wearing, consider selling it immediately before it loses value further.
Are you searching for “a diamond ring buyer near me?” Consider selling your jewelry at Diamond Banc. We have offices throughout the US, making it easy to find a competent and reliable diamond ring buyer near you. Below you will read a piece of detailed information about diamonds and their depreciation. You will also get to learn about the distinctive features of a diamond.
Distinctive Features Of A Diamond
Before diving into the reasons for reselling your diamonds, let’s first examine their features.
Mined diamonds are cut and polished into different shapes. The shape of the diamond is the view from the top. The shape can be round, oval, radiant, pear, or heart, among others. The choice of a particular shape is a matter of preference. However, the most common diamond cut that has stood the test of time is Round Brilliant. Bearing in mind that the shape influences the ring design, diamond ring buyers near me can tell the shape of the diamond from which your ring was curved.
The cut is commonly confused with shape. However, there are two distinct features of a diamond. The cut is the view of a diamond from the side. It describes the design of transforming a mined diamond into a gemstone. How a diamond is cut influences its brightness and sparkle. Again, the choice is a matter of preference, as some might prefer cut grades of very good rather than excellent.
A diamond’s size or weight is determined by units called carats. However, a diamond’s weight does not always translate to its size/diameter. Thus, if you have a diamond measuring ½ carat that sells for $2,000 and another one with 1 carat but similar characteristics, you will end up paying more for size rather than quantity.
Since diamonds are 99.95% pure, it is possible to find some clean crystals while others have some sparkling colors. The diamond with the highest color is said to be lower than the one with the lower color. The highest color means lack of color or being crystal clear like ice. The choice depends on personal preference and your budget. Diamonds with high color grades are more expensive than others.
Brightness refers to the amount of light that can radiate through the surface of a diamond. As the light passes through the surface, it bends as it passes through a prism illuminating its brightness. The brilliance level is, however, influenced by the nature of the cut. If poorly cut, some light will disappear after passing through the surface, reducing its brilliance. Thus, by observing the brightness of a diamond, you can easily tell if it is perfectly cut or not.
Sparkles are like white flashes of fireworks in a diamond that it gives off as it moves. Diamond sparkle results from a ray of light reflecting on different diamond surfaces and bouncing back into one’s eyes. While every diamond has its distinct sparkles, the pattern should be evenly distributed on the surface.
Clarity refers to the amount of imperfections within a diamond resulting from how carbon particles are compressed during its formation.
Fire is the dispersion of light after bouncing back from the surface of a diamond. The fire is identified as the rainbow colors that you see on a diamond. Like a prism but shaped differently, the light does not bounce back in straight lines instead of shades of colors. For a clear view, you need to be at least three feet away.
Diamond surface quality differs. Some have smooth and well-polished surfaces, while others are a bit rough. These polished surfaces are called facets. A diamond facet can resemble a stretched, contorted, or triangular kite. As a result, polish is a significant factor as it enhances its beauty and affects its grade.
Generally, diamonds are the hardest gemstones. However, that does not mean they cannot break. How durable are diamonds? If properly stored, a diamond can have a long lifespan as it is resistant to scratch.
Diamond symmetry is a significant aspect. It refers to how perfectly the facets align, resulting in a perfect shape. A symmetrical diamond is more attractive to the eye and also affects the diamond’s grade. A diamond with an excellent grade has more value than one with a lower grade of poor.
Luster is one of the diamond’s most significant characteristics that most often go unnoticed. It is the top of a diamond. Every diamond has a distinct luster from the others. Their differences result from the diamond’s crystal structure. In other words, diamonds of different shapes have different luster. A diamond ring buyer near me will have to examine the diamond in person to determine its luster.
Fluorescence refers to the effect or glow that a diamond emits when under UV light. The fluorescence level can impact the beauty of the diamond. A diamond with a high fluorescence level will lower its quality and, ultimately, the value. Thus, it is best not to view diamonds with a strong or very strong fluorescence under strong sunlight as they might appear oily and unattractive.
Factors Affecting Diamond Resale Value
While a diamond has a resale value, you will be surprised at how fast that value diminishes immediately when you leave the jewelry shop. The resale value of your diamond jewelry is lower than the original price you bought when it was new. Some of these factors include:
- Diamond’s Retail Markup: This depends on where you bought your diamond and the difficulties of reselling a pre-owned diamond. As a result, the resale price is generally at least half of the original price.
- Selling Strategy: How do you choose to sell your jewelry? The quote will differ based on the buyer. The knowledge and experience of a buyer plays a major factor. Thus, consider visiting a legitimate diamond ring buyer nearby, like Diamond Banc, for a higher payout for your diamond.
- Diamond Quality Grades: Generally, diamonds with high color, clarity and excellent or perfect symmetry grades cost more than those with lower grades.
- Market Value: The market value of a diamond is determined by demand and how many other sellers in the market are buying pre-owned diamonds.
- The Original Cost of the Diamond: How much does a new diamond of the same caliber as yours cost? After factoring in the depreciation of a costly diamond ring, the resale price will still be worthwhile.
Four Reasons Why You Should Consider Reselling Your Pre-Owned Diamonds
Quick and Easy Cash
Do you need quick cash? If you own diamond jewelry that is rarely used, it is time that you consider selling them. Unlike some assets that are not easily convertible to cash, a diamond can be sold pretty easily. However, despite being desperate for quick cash, avoid accepting the first offer that you receive. If you are still searching “Diamond ring buyer near me,” research your diamond’s market value and contact Diamond Banc and enjoy the full benefit of your resale value.
A Faster Rate of Depreciation
You will be surprised at how fast diamond jewelry depreciates. You purchase that elegant diamond ring and leave the shop, and its resale value is never the same. Thus, the longer you hold on to those diamonds, the more their value decreases. Therefore, take the deal when it is still hot and avoid losing so much time.
You May Not Use All The Pieces of Jewelry You Own
Why hold the diamond pieces that you rarely wear when you can get a fair value for them? Is it possible that you are not using all your diamond pieces? If that is the case, there is no need to hold them longer just because of their sentimental value. You should sell them and have a chance to enjoy a fair resale price. The longer you take to sell, the more their value decreases. Take the resale deal and avoid extreme losses with once expensive jewelry.
They Remind You of a Sour Relationship or Instill Negative Emotions in You
If your diamond jewelry serves as a reminder of a past relationship, why hold on to them? Make a quick sale and buy something that brings positive vibes to your life. Take that leap of letting go of your painful memories when you sell to a nearby diamond ring buyer.
Why Choose Diamond Banc?
Diamond Banc is not only a trusted and reliable jewelry dealer but has established numerous branches across the United States. Thus, consider checking out their offices if you are still searching for “a diamond ring buyer near me.” You will receive reliable and honest feedback about diamonds and their resale values.
The rate of diamond depreciation is unbelievable but also a reality. Having read this blog in its entirety, you should now understand why it is essential to sell your ignored pre-owned diamonds sooner rather than later. Despite diamonds losing half of their value or more, it is best to conduct market research and consult with reliable diamond buyers like Diamond Banc for fair prices.