Most people think diamond appraisals and certificates are one and the same. However, while both are helpful to jewelry owners, buyers, and sellers, each one contains a different set of information and serves a different purpose. Truth be told, though, information gleaned from both the diamond certificate and appraisal usually go hand-in-hand.
Before we get into a detailed explanation of diamond certificates and diamond appraisals, let us consider the definitions of each. An appraisal gives detailed information on the market value of a ring, necklace, bracelet, or earrings whether the diamond is unmounted or already set in the jewelry. On the other hand, a certificate provides information on cut, clarity, color, and carat weight of an unmounted diamond that is yet to be set into a piece of jewelry.
Are the diamond certificate and appraisal important? Yes, especially if you want to determine the value of diamond jewelry in case you’re thinking of selling it. Why will you want to sell it? Well, there are various reasons why you may want to – divorce, unexpected medical expenses, family emergencies, etc. The possibility of negotiating a good price and getting quick cash from the sale of your diamond jewelry is better than if you pawn it. That is especially true if you decide to sell the diamond quickly at Speedy Diamond. The company will give you a very good deal on your diamond that will not make you think twice about selling it.
Understanding Diamond Certificates
A diamond certificate is provided while a diamond is still loose or unmounted, which basically means it hasn’t yet been set in a ring, earrings, necklace, or bracelet. After a diamond is mined, cut, and refined, it is brought to a wholesaler who will have the diamond certified by a gemologist to determine its value. A non-profit institute like the Gemological Institute of America or GIA will evaluate the cut, color, clarity, and carat weight of the diamond (they evaluate other gemstones, too) and provide written document (the certificate) that contains all pertinent information about the diamond. The certificate will likewise show the dimensions of the diamond as determined from the different angles of the stone.
The only time the information on the certificate may change is if the diamond is altered physically or if an incorrect evaluation was given the first time (which is highly unlikely if the GIA performed the initial evaluation).
Understanding Diamond Appraisals
A diamond appraisal is necessary to determine the market value of the diamond jewelry. However, since diamond prices can fluctuate, it’s best to anticipate that an appraisal can only give you a fair market value and that the exact price will be determined by market conditions. If you’re planning to sell your diamond jewelry for any of the reasons stated previously, it’s best to have it appraised first so you’ll know how much you can sell it for or if the buyer of the diamond is giving you a fair price for it.
Both can come in handy if you want to sell your diamond jewelry. However, if you’re selling to Speedy Diamond, there’s hardly a need for an appraisal or a certificate as they have in-house evaluators who’ll help determine the cost of your diamond.