Short info about diamonds

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If your scrap gold contains diamonds, a trip to the local jeweler may be warranted for a couple reasons… First, the jeweler can give you either a written or verbal appraisal, and second, if the stone is still in a setting, such as an engagement ring, the jeweler will have the right tools to remove it. A written appraisal will cost anywhere from $50.00 to $150.00, but if the stone isn’t very large, say under 1/4 carat, it wouldn’t be worth paying for an appraisal. If you’re on a friendly basis with your jeweler, and he has a few moments, he may be willing to look at your gem and give you a verbal assessment. Something to keep in mind is that there are two types of appraisals – insurance value and “real” value.

An insurance value appraisal is a replacement cost estimate on an item if it’s lost, stolen or destroyed. In other words, it’s what it would cost to walk into a store and purchase a replacement at today’s prices. You might also want an insurance value appraisal if you’re planning to keep the item and perhaps pass it down through the family.

Short info about diamonds

A real value estimate is what you can expect to receive if you sold the item to a jeweler or on the Internet. That will be a ballpark figure because on the second hand market, something is only worth what someone is willing to pay for it. I use Ebay as a reference for what similar items have sold for, and this can apply to anything from diamonds to antiques to collectibles.

You’ve probably heard about the “Four C’s” – color, cut, clarity, and carat. They will determine the value of your gem. A small, clear, white stone may be worth more than a larger, cloudy stone, but it should be evaluated by a jeweler or certified gemologist in the event you want to keep it, sell it or re-set it. If you’ve already purchased a loupe, a little internet research will teach you what to look for when inspecting the diamond yourself. Try typing in diamond grading or diamond chart and see what comes up!