This is a situation that I deal with a lot. Customers ask for the price of a diamond, let’s say a 1.00ct G SI1 for example, and shop around in order to find the best price. Fair, right? Read on and you be the judge.
When shopping for diamonds, customers typically look at the diamond report to ensure that they are comparing the same stone, and often pick the diamond that has the lower price. Unfortunately, this information may not get them the best diamond and they may be very disappointed with their purchase when they see the stone in reality.
Here’s why: there are grading tolerances in diamond reports which is usually one grade in either direction. This means that a 1.00ct diamond graded as a G SI1 may vary in colour from F to H and in clarity from VS2 to SI2. In other words, the 1.00ct G SI1 may legitimately vary from a F VS2 to an H SI2. The difference in price can vary up to 56%. I kid you not. This clearly demonstrates that two diamonds with the same grading report can reflect two very different prices, while still being graded according to accepted international standards. This allows unethical sellers to take more of your money and give less value. If the diamond price is discounted, there is a good reason for that.
The GIA (Gemological Institute of America) cut grading is considered the industry standard. The top cut grade is “Excellent, Excellent, Excellent” (also referred to as TripleEX) and it encompasses cut, polish and symmetry. These three calculations assure a brilliant and beautiful diamond. If any of these 3 characteristics is any less than Excellent, it will affect the value and look of the stone. Inconsistencies and confusion can arise when other institutions use cut calculations that are different from GIA’s grading standards. The beauty of a diamond lies in its cut more than any other characteristic.
There is always a reason why one diamond is less expensive than another. Consumers tend to believe the difference in price is due to retail margins. However, the most common reason for price inequality is diamond inequality. There is more value in buying a diamond that reaches the upper end of the grading scale than one that is less expensive and poorly graded, sitting at the lower end of the grading scale.
Diamond reports do not assign dollar amounts.
Because every diamond is uniquely different, when they have equal grading reports, they can vary greatly in price and value.
At Aeron E. King Goldsmith Ltd., part of how we sell diamonds is through education. We clarify the diamond grading terms and focus on what the client wants. The most important part of buying a diamond is being aware of the ways they are sold and avoid being taken advantage of.
It is very hard to compare stones from one store to another because of the allowance for differences in grading between sellers and their sometimes limited ethics and knowledge in grading diamonds. Also, rarely will someone tell you about cut and fluorescence, two aspects that diminish the value of your diamond when it comes to appraising it.
At Aeron E. King Goldsmith Ltd, all of the stones that are carefully chosen for our customers meet the highest professional GIA grading standards and are verified by a GIA Graduate Gemmologist before they are shown to you. That way, you get exactly what you are expecting and paying for. Diamonds cannot be bought sight unseen or strictly based on paperwork. Each stone is unique and has a beauty of its own, characteristics that will “speak” to you. It is best to meet with professionals that can advise you and help you find that precious, forever stone.