Saving Money With Loose Diamonds

When a couple is looking at engagement rings and wedding rings, they might be thrown off guard by the price tags attached and might also be unable to find just the right ring for their momentous occasion.  When this is the case, they might turn to loose diamonds as an option, which allows them to purchase the diamond separately and then have it placed in a setting of their choice.  This often gives them a greater variety of options in the size and cut of the stone for a lesser price than one that is already chosen and set in a ring. 

Tips and Cautions

There are certain things to beware of when buying loose diamondswhich is not an issue when buying from a jewelry store where everything is certified to be real. Loose diamonds are sold by charlatans at times who will substitute synthetic stones as the real thing and charge lesser prices than a real diamond, but still exorbitant amount for a fake stone.  One caution is to make sure that the stones are certified loose diamonds, which means that the diamonds should come with a certificate from a laboratory that gives a grading report on the diamond.  Some credible agencies that can offer such reports are the Gemological Institute of America, the European Gemological Laboratory, and the American Gem Society.  If a certificate is not given by any of these laboratories by the loose diamond distributer, then the diamonds should not be bought from that company because they are likely to be fakes.

Another tip to buying loose diamonds is to do a lot of shopping before deciding on a particular stone.  Although there might be one very interesting stone on a particular certified website, it might not be the best price on the market, and with a little shopping around, an almost identical stone can be found for an even better price.Almost sites will also provide individuals such deals as a thirty day money back guarantee so that they can be certain that they are satisfied with the diamond once they see it in reality rather than in pictures.  There is also usually free overnight shipping so that the guarantee is not wasted in shipping time.

Even though the seller might have their loose diamonds certified, they still might not be an altogether reputable seller so it is wise to do one more piece of checking before purchasing from them.  One place to check is the Better Business Bureau to see if there have been any customer complaints against the seller.  Another place to check is if there are any reviews of that seller that have customer comments or ratings.  In addition, it is important to check their refund and return policy as well as upgrade policy so that everything is clear before purchasing the diamond.

Don’t Get Scammed Buying Diamonds Online

synthetic diamonds

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

First, think about your reasons for wanting to purchase the diamond online, as opposed to making a purchase from a local jewelry store. The most common reason is price. Due to low overhead costs, online jewelers 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.

The vast selection is one of the ideal things about buying online. When shopping offline, you are limited to the selection in the stores in your general area. Online, there are no limits. Be very careful when you decide to fork over all that cash to someone who you just met!

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 on sale. Finding the lowest prices would have to be done while doing some comparison shopping. Once you have found the lowest price, start doing your investigation. You know about synthetic 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 jewelry 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 with the BBB 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. 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!