Seasons’s Greetings From The Diamond Valet!
As we speak with our clients about the potential market value of their diamond, one issue continues to surface. It seems certain dealers, either local or internet, have a habit of promising ridiculous, near retail values for your diamond. Let me be clear – unless a retail diamond jeweler has a customer waiting on the other side of the showcase for your diamond, the price offer to you by this type of dealer is going to be much lower once the evaluation is made on your diamond jewelry. Why would someone pay more for YOUR diamond, when a similar grade and quality of diamond can be had for less, sometimes even below wholesale???
As a certified GIA Diamond Graduate Gemologist, and 4th generation diamond jeweler, I can assure our clients of a near 100% truth. No one in the trade is paying more for your diamond than it can currently be bought for cash on the RapNet Exchange or NYC High Cash asking prices. No one. Notta One. Zilch. Why? Let’s do some basic math.
Suppose you have a 1 carat diamond, G color, SI1 clarity, GIA certified as a Very Good cut, with decent proportions and angles. On the wholesale market, there might be 257 other diamonds listed with these same GIA certified credentials. All of them are priced within a pretty narrow cash range of $4,100 to $4,300. This is the price which wholesalers can pay for the diamond, or retailers can pay for the diamond prior to selling it to you, the retail customer.
Based on this information, your diamond will be worth about $3,200 to $3,500 to The Diamond Valet. Funny thing is, we hear of examples where our competitors are offering $4,000, or $4,500 for this type of diamond, particularly internet dealers who have not physically evaluated the diamond. But, the sad fact is that if you choose to deal with another internet vendor, we can predict with near 100% certainly that your price offer is going to come back lower than the sight unseen estimate the company provided to you. And further, the company likely never intended to honor the quoted price to begin with!
Nothing but games and frustration for these customers.
At The Diamond Valet, we speak to you about your diamond with the reality of the diamond market today. Pricing is very efficient. Supply in shapes and sizes up to 3.00 carat are in oversupply, as consumers continue to sell back to the trade at a faster pace than consumers who plan to purchase a diamond. Since 2009, the market has been flooded with uncertified diamonds of a carat weight and under. Many dealers are not even buying or offering for diamonds under 1.00 carat!
Finding the value of your diamond from another dealer can be a frustrating waste of time. Let our company make the best offer possible, based on real market driven price data. Instead of competitors, who trick you into thinking your diamond is worth a value that is realistically impossible to reach.
At The Diamond Valet, we handle it all the way!