December 22nd, 2008
Another name for diamond certificate is Diamond Grading Report. Issued by the Gemological Institute of America (GIA), this report is given when you purchase a diamond. The color, cut, carat, weight, and clarity of the diamond can be verified through a diamond certificate.
The diamond certificate has advantages on your part. If you have one when you purchased your diamond, you’ll have better chances of a better price later on when you sell your diamonds. It will be your basis when a buyer would like to know the real quality of the diamond they want to purchase from you. Diamond cutting industries also use this certificate as their guide. In short, the certificate will help you to get your money’s worth and to avoid overpaying for it. If you will resell it, then you won’t be undercharging your buyer.
After buying a diamond, the copy of the certificate must be given to your insurance company for your diamond insurance. An additional cost will be charged for a diamond certificate, but it’s minimal compared to the benefits it can do to you. Only GIA has the authority to issue diamond certificates. Always expect to pay extra cost when buying an expensive diamond.
Tags: diamond certificate, Diamonds
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December 4th, 2008
How do you know if a diamond is real or not . Simply looking at it if you’re not an expert or using some technology won’t really help you determine if the diamond is real or fake. Factual information about a diamond is imperative. Here are some steps to follow to make sure you get your money’s worth for the expensive diamond you will buy.
- Always deal with reputable or certified jewelers or diamond merchants. Even when the price offered to you seems reasonable, never buy diamonds or other jewelries from jewelers that you don’t know or never dealt with before. When purchasing a diamond, ask for the certificate for the stone.
- Always inspect the quality of the stone. There are some fake diamonds, for example, the zirconians which are usually in low quality and not durable.
- Bring the diamond to another jeweler for appraisal after purchasing it, maybe even take it to two or three other jewelers. This will tell you if they have common appraisals of your diamond. To reiterate, it is very important that you have the certificate of purchase to insure you that if you discover the diamond you purchased to be fake then you will avoid being accused of switching it if you return it to the jeweler. Remember, no stones look alike.
Tags: buying diamonds, buying jewelry
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November 23rd, 2008
“Diamonds are forever…” But where do all the glistening diamonds mined?
1. Some of these were mined in the Kimberly region in the far north east of Western Australia where the Argye mine is located. This mine is the world’s largest single producer of volume of diamonds owned by Rio Tinto. Due to low proportion of gem quality diamonds it is not the value leader. It also produces the large supply of ninety to ninety five percent of pink diamonds in the world.
2. The Rio Tinto also owned the Diavik mine, a very large mine located in north of Yellowknife and south of the Artic Circle on an island in Canada. The island is connected by an ice road. This mine produces 8 million carats yearly and is significant to the economy in the region wherein it employs more that 700 people.
3. BHP Billiton Diamonds, Inc. owns the Ekati diamond mine, the first operational diamond mine in the south of the artic circle in the Northwest Territories of Canada. The diamonds that are being mined here are sold under the Aurias trade name Canada Mark Service in which is also owned by BHP Billiton Diamonds, Inc.
4. Trans Hex, operates and owns the Baken diamond mine, located along the lower Orange River in South Africa. In 2004, the Baken diamond mine produces a 78.9 carat D color flawless diamond that was sold more than 1.8 million US dollars and a 27.67 pink diamond sold for over 1 million US dollars. The average size stone for the year 2004 was 1.29 carats.
5. The partneership of DeBeers who owns the Debswana which operates the Orapa diamond mine and the government of Botswana resulted in a comprehensive development in the area. It operates seven days a week and it maintains pre primary and primary schools for the employees children and also it has a 100 bed hospital and a game park. Orapa is the world’s largest diamond mine, it is located 240 km west of Francistown. This is the oldest mine owned by the Debswana Company and it begun its production in 1971.
6. Another mine owned by the De Beers Company is the Premier, it is located in Cullinan, South Africa. It has produced the largest gem diamond ever in 1905. The cullinan Diamond weighed,106.75 carats, and also this mine produced the Golden Jubilee Diamond which weighed 545.67 carats. In 2003 the mine was renamed The Cullinan Diamond Mine for the celebration of its centennial.
7. Rio Tinto also owned the Merlin. It is the only two diamond mines in Australia. It was sold to Striker Resources, it is no longer operational but the new owner explores for the possibilities of reopening the mine.
Tags: Diamonds, mining diamonds
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November 17th, 2008
Diamond insurance is quite different to most insurances, like car insurance. Insuring a diamond takes a bit of thinking, shopping around and planning. The insurance policies that cover diamonds are marine type policies, and there are basically there are three different types of policies:
1. Actual Cash Value Policy – This is not a common policy. If the diamond is lost or damaged beyond repair, no matter how much you’ve paid for the diamond to begin with, the insurance company will replace it with today’s market value.
2. Replacement Value Insurance - The insurance company will only pay up to a fixed amount to replace the diamond that was lost or damaged beyond repair which means that they will pay that amount. In most cases, the diamond can be replaced at a lower cost. This is the most common type of insurance for diamonds.
3. Agreed Value - In the event that the diamond is lost or damaged beyond repair, the insurance company simply pays the amount that you and the company agreed upon. This is the best type of insurance to acquire, but it is rarely offered. This insurance policy is sometimes called “Value At”. Remember if you cannot get Agreed Value coverage, Actual Cash Value should be your next choice.
The insurance companies will always determine the rates by the value of the diamond, the type of coverage you’ve selected and the area that you live in. If you live in a high crime rate area, expect to pay more for the insurance coverage. It is best to get a certificate for your diamond and to provide a copy for the insurance company so that leaves the insurance company less room for arguments over the actual value of the diamond. Always remember that insurance agents are not qualified jewelers, and jewelers are not qualified insurance agents. Another thing do not rely on separate coverage to cover your diamond.
Tags: diamond insurance, Diamonds
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November 17th, 2008
Determining whether a diamond is real or not is almost impossible by looking at it, even in this world of advanced technology, especially if you lack factual information about a diamond. However, to avoid buying a fake diamond, there are some steps, these are:
1. Avoid buying diamonds or other jewelries from jewelers that you have not dealt with before. Always ask for the certificate for the stone, if no certificate, walk away. Deal only with reputable jewelers, and if you’ve found one, stick with them.
2. Always take a good look at the stone. Fake diamonds such as zirconians are usually in low quality and not durable, natural diamonds are the most durable stone in the planet.
3. Appraised the diamond to another jeweler after purchasing a diamond. It is in good reason that you should take it to two or three jewelers which has a common appraisals. In purchasing a diamond it is very important that you have the certificate of purchase to insured you if you find that you have purchased a faker one and to avoid being accused of switching if you return it to the jeweler. Remember, no stones look alike.
Tags: buying diamonds, diamond appraisal
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