Having any documentation on a diamond is helpful when it comes to selling your stone. Three of the most common types of diamond paperwork include:
- A diamond certificate
- An insurance appraisal
- A jeweler’s appraisal
These each contain relevant information on your stone that will help a diamond buyer gauge it’s value. It is important to note however that they vary in terms of their accuracy and reliability.
Diamond laboratories were created to protect the diamond industry and consumers by providing independent and unbiased grading certificates (also known as reports). These provide detailed descriptions of your stone, including the 4 C’s but also the proportions, measurements, polish, symmetry and fluorescence gradings. While there are many different diamond-grading laboratories in the world, the GIA (Gemological Institute of America) is widely recognized as the foremost authority in gemology. Their grading standards are issued by gemologists with notoriously strict, accurate and reliable.
- If issued by a top laboratory such as the GIA or AGS, the diamond grading’s will be accurate and reliable.
- Not all laboratories provide accurate and consistent diamond grades.
- Not a free service.
DIAMOND INSURANCE APPRAISALS
An insurance appraisal does not include the same level of detail as a diamond certificate. It does however allocate a monetary value to your diamond, but this is often misleading. Insurance appraisals can be up to 100% more than the retail price of the piece, which is drastically different from its secondhand value. The reason for this extreme discrepancy between the insurance appraisal and the secondhand value is that it benefits your insurance provider, as it allows them to charge you a larger premium to insure your jewelry.
- Good for insurance reasons.
- The price estimate is inflated.
- Does not include the same level of detail on your diamond’s characteristics.
DIAMOND JEWELERS APPRAISALS
A jeweler’s appraisal will detail some characteristics of a diamond, but it is important to note that this is a jeweler’s opinion and not as accurate as that of a gemologists. The jeweler may or may not be a diamond expert and for this reason, the grading’s on a jeweler’s appraisal should not be treated as an absolute.
- Convenient and low cost solution.
- Jeweler may not be a trained gemologist.
- Grading’s may be off by a grade or two.
While it is always good to have paperwork on your diamond, a diamond certificate (preferably GIA) is the best option available. A GIA certificate provides grading’s that you can trust and the highest level of detail on the specifics of your stone. This will help you establish the value of your stone and is therefore useful both when buying and selling a diamond.