Bonded Diamonds

Before you start shopping for diamonds, consider dealing with a bonded jeweller. Bonded jewellers sell bonded diamonds, and there are very few bonded jewellers in the world. In fact, out of all of the jeweller’s in the world, only about 5% of them are bonded. Buying a bonded diamond will cost more than buying a non-bonded diamond, but when you look at what you get with the bonded option, you will see that it is well worth the extra expense.

Buy-Back Policy
First, bonded diamonds have a buy back policy for the life of the diamond. No matter how long you have had the diamond, you can take it back to the bonded jeweller and sell it back to him or her, for a 100% refund. If a jeweller does not offer a 100% buy back guarantee, for the life of the diamond, then you should take a closer look at the diamond to see what is wrong with it.

Breakage Policy
Bonded diamonds also have a breakage policy. If the stone breaks or chips, the bonded jeweller will replace it with a new one – one time. No jeweller would ever offer such a policy on any stone that was not 100% natural, so just the offer of such a policy should give you piece of mind concerning the quality of the diamond. Bonded diamonds are natural and untreated.

Market Value
Bonded diamonds increase in value, with a fixed appreciation rate that is designed to keep up with inflation. This means that a diamond that is worth a certain amount of money today will be worth more in the future, as the price of diamonds continues to rise. This generally does not apply to buy backs, however. It typically applies to trade-ins.

Alternately, by purchasing a bonded diamond, you are protected against the possibility of a market crash. If a market crash occurs, the value of diamonds will drop. However, the bonded jeweller guarantees to refund you the difference between what the diamond is now worth and what you paid for it before the market crash.

It may be difficult to find a bonded jeweller in your area, but if you can, this is who you want to deal with, as opposed to dealing with an un-bonded jeweller. Specifically tell the jeweller that you are only interested in bonded diamonds. You can find a bonded jeweller in your area by using various online resources, or by calling the local jewellery stores.

Tips for Buying Diamonds Online

With all of the potential for scams concerning diamonds, buying diamonds online almost seems unthinkable! However, you actually can purchase diamonds online, without any problems – as long as you are careful.

Why Buy Online
First, think about your reasons for wanting to purchase the diamond online, as opposed to making a purchase from a local jewellery store. The most common reason is price. Due to low overhead costs, online jewellers and wholesalers are able to offer lower prices. However, you must be careful – sometimes a price that is too low is a sure indication of a scam.

One of the best things about purchasing online is the unlimited selection. When shopping offline, you are limited to the selection in the stores in your general area. Online, there are no limits. But again, you must use a great deal of care and consideration before handing your money over to someone that you cannot see and have never met!

Research First
Before shopping, learn as much as you can about diamonds – especially cut, color, clarity and carat weights. When you are knowledgeable about diamonds, it will be harder for a con artist to rip you off. Once you know more about diamonds, you will be ready to start shopping.

Take your time. Don’t purchase the first diamond that you see that interests you. Instead, look for similar diamonds for sale. Do some comparison shopping to find the lowest prices. Once you have found the lowest price, start doing your investigation. You know about diamonds, you’ve found a diamond that you love, and you’ve found the lowest price – but you are still quite a ways away from actually purchasing that diamond!

Ask about the seller’s credentials, such as professional jewellery associations that they belong to. View and print the seller’s return, refund, and upgrade policies. Also inquire about additional services, such as settings and mountings, sizing, and free shipping. Do a search for customer reviews on this particular company around the Internet. Also check online to see if there have been any complaints. Ask for a diamond grading report from an independent laboratory such as GIA, HRD, EGL or AGS. You should see this before making a purchase.

Escrow Services

Finally, use a reputable escrow service for high dollar diamonds – preferably one that will have the diamond appraised while it is in their possession. The seller sends the diamond to the escrow service, and you send the money to pay for the diamond to the escrow service. The escrow service has the diamond appraised, sends the diamond to you, and sends the money to the seller. This is the surest way to protect yourself…again, make sure that you use a reputable escrow service!