Saturday, April 26, 2014

Natural Pink Diamonds--Your Shopping Guide for these Rare Diamonds

Pink diamonds, unlike 1 carat round colorless diamonds, are truly rare. In fact, pink is one of the rarest colors. Only red diamonds (never seen one) and blue diamonds are more rare.
Given the rarity, pink diamonds are not for the faint of wallet but more affordable ones can be found. First you have to have some understanding of the pink diamond grading scale, which is haphazard at best.

Shopping for a Pink Diamond
Few jewelry stores or personnel know anything about pink diamonds. That's because their market is typically people who are buying white diamonds. There are stores that carry more of them. But you'll find that the prices are in the stratosphere. You are often paying for the address, the atmosphere and chandelier upkeep. So while you might very well get a fabulous product, you will pay out the wazoo for it. Which is fine if you have that kind of disposable income and you like the feeling of being in a swanky establishment .

Regardless, you really have to choose your dealer carefully. Choose one that carries more than two or three colored diamonds. If you've done your homework, you might recognize a salesperson who knows less than you do. If you know more than the salesperson, move on. Choose a dealer with a track record and an established reputation for carrying colored diamonds. I often see dealers offering diamonds that are treated and not disclosing this fact. I see dealers using the same photograph to sell a diamond. I see dealers who are "drop shippers" who are offering colored diamonds--dealers who do not look at the diamond but list numbers from a GIA report and they've never seen it.

A colored diamond, particularly a pink, is NOT a diamond you want to buy sight unseen for a number of reasons. Fancy colors and fancy shapes can't be bought sight unseen if you actually want to end up with something you will enjoy looking at.

Getting a Pink Diamond Appraised
Few sellers know squat about colored diamonds. Even fewer appraisers do. The good ones will use a third party resource to validate particular facts. So ask questions before having it appraised and find out their methodology for appraising rare pinks.

If it comes back appraised double, don't go feeling great that you made such a great purchase. Ask them to adjust the appraisal so you're not paying the insurance company outrageous premiums to insure a diamond that would not cost nearly the amount it appraised for to replace. The outrageous appraisal amount might make you feel warm and fuzzy up until you get insurance and realize just how much it will cost you.

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