Why pay extra for a brand name gem?

Branding

Why pay extra for a brand name gem?

By Scott Bohall

If you go car shopping and head to a dealership, you won’t find a Mercedes without its signature star logo. If you shop for shoes, you won’t find Nikes without their familiar swoosh trademark.

But, unlike cars and shoes, there is no reason to pay extra for a branded diamond, which increases the price. It’s possible to find a diamond in one store for $5,000 and the exact same quality diamond in another store for $10,000 because of branding. In 2017, there is no reason to overpay for a diamond. Diamonds can originate from different countries and they can be cut in others, but what the price should come down to is the quality and size of the stone, not the brand.

Learning how to not overpay for a gem takes a little knowledge and asking the right questions. Most diamonds over $1,000 will have a certificate that gives grading information. The most reliable certificates come from GIA (Gemological Institute of America). If you take cell phone photos of certificates you are comparing, another jeweler can easily compare their stone to the attributes of the other stones you’re looking at and show you the points where each stone is better, or worse. The cut grade on round diamonds will vary the price of each diamond. GIA uses a five-stage system for cut: excellent, very good, good, fair, and poor. Stay away from the last two.

Most good jewelers are interested in earning your business and will gladly try to beat the prices you’ve found somewhere else. It’s not difficult to find deals, but sometimes the deal is not really a deal because the diamond in question is graded by a substandard lab. Take that into consideration. Labs in the United States are much better than many of the overseas labs.

 

 

 

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