How to Buy Diamonds on the Internet?
Submitted On 2008-10-27
These days, you can buy diamonds on the Internet. Buying over the Internet might also save you some taxes. You need to take certain precautions when choosing this option of buying your diamond. Let us look at these.
Check the Four C's
Diamonds get their value because of certain characteristics. Key characteristics have been nicknamed the four C's - Cut, Color, Clarity and Carat. Equip yourself with a sound familiarity of the four C's before you start diamond hunting on the Internet. If you don't know what makes a good diamond, how will you select one!
Having equipped with necessary familiarity, check the four C's of each diamond you consider buying. However, don't let your amateur knowledge be a substitute for professional appraisal. Find the Best Internet Diamond Retailers
There are diamond retailers and retailers. Review their websites and observe the kinds of information and services they provide. For example, there are retailers who will send you enlarged photos of the diamond, highlighting the inclusions in the diamond.
Inclusions are 'flaws' in the diamond; not all flaws affect the diamond seriously; on the other hand some might lead to loss of brilliance or even make the diamond prone to shattering. The retailer would then explain the significance of each highlighted inclusion. You can verify these details with an independent gemologist.
Obviously, a retailer who provides that kind of information is preferable to someone who is not very forthcoming. Try to find other indicators that hint at the trustworthiness of a dealer.
Verify the Seller's Credentials
Established retailers would typically provide testimonials from satisfied customers. Check that these testimonials are verifiable. Call two or three testimonial givers and try to get some idea about the seller's service and dependability.
Call an authorized and competent contact person at the seller's establishment. Talk to that person and try to form a clear impression about their competence and trustworthiness. Does the person come across as someone who knows diamonds? And also as a person with integrity who would not try to cheat you?
Negotiate for Independent Appraisal
Getting everything down in writing and signed is an absolute must when dealing in diamonds. Each piece is of high value and if you leave anything vague, you might find yourself compelled to shell out a small fortune for no fault of yours.
An important term you must insist upon is that you would get the diamond verified independently and if you are not satisfied, you would be allowed to return the diamond for a full refund. And get adequate time, say, two weeks at the least, within which you can get the independent appraisal done, and if necessary, return the item. If you do have to return the diamond, ensure that you follow the return instructions of the seller precisely. You do not want to be accused of returning it negligently.
Take Extreme Care of the Diamond in Trust
During the permitted appraisal and return period, the diamond is in your custody and if anything happens to it, you will typically be responsible for any loss. Try to minimize any possible loss by taking extreme care of the diamond. For example, entrust it only to a dependable gemologist for appraisal. Even better, remain with and observe the person during the whole exercise. Always keep the diamond in a very safe and secure place.
Taking out insurance, or getting the seller take out an insurance, against any loss during your custody or during transit is a good idea. Try to negotiate the terms and get it down in writing before the diamond is shipped.
Ensure that the Diamond Comes with Grading Certificate
Reputed diamond sellers would only sell diamonds that have been reviewed and graded by qualified gemologists. The gemologists would scrutinize measure and evaluate a diamond before issuing a certificate that outlines the gem's characteristics. Gemological Institute of America - GIA - certificate is an example of a valued certificate.
However, don't dispense with the independent appraisal even if the diamond comes with a certificate. Certificates can be faked (just like currency notes)!
Bargain the Price
Selling over the Internet reduces the seller's overheads. Let him pass over a part of this cost reduction to you! Bargain the price once you have decided to buy a particular piece of diamond. Arm yourself with necessary bargaining chips by shopping around and finding more than one dependable seller. Learn how to bargain for a diamond, and then do it!
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