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Diamond Jewelry Store - How Diamond Prices Are Determined by Cheow Yu Yuan
Whether you are a diamond jewelry store owner or you are a consumer looking for the right diamond jewelry for your loved ones, knowing how diamond prices are determined will always be an advantage.
When it comes to pricing most products, it is quite simple. By determining how much is the cost price and how much it costs to market the product, and mark the total up by at least 15% to 30% or more to earn profits. Pricing diamonds is not quite as simple as pricing other products. There are many factors that need to be considered before launching them to the market.
The first thing that diamond prices are determined is by adding the cost of the rough diamond, the cost of cutting the diamond and all the other cost to turn a rough and unrefined diamond into a marketable diamond. After turning it into a marketable diamond, the company may need to call an independent company in to certify the grade of the diamond based on its weight, clarity, cut and colour.
As diamond changes hands, it becomes more expensive. When it reaches the retailers the price is again increased a little bit more. As you can see from here, before a diamond reaches the retailer, it must travel from the mine, to the cutter and polisher, then to the individual grading company, and lastly to the primary market. From the primary market, jewelry store owners and retailers will then purchase the diamond and sell it to the consumers. Therefore, the earlier you can purchase a diamond in the process, the lower the cost of it will be.
If you have recently just bought a diamond and do not know how much does it worth, you can send your diamonds for appraisal, but take note that the appraisal may not be accurate. A more accurate way to determine the price of your diamond is to obtain its certificate and use the cutter's guide to determine a more accurate worth for your diamond.
You can also surf the Internet and locate many diamond worth calculators. Before you can calculate the worth of your diamond using those calculators, you need to know the cuts, clarity, colour and weight of it. With this information, the calculator will be able to determine an accurate worth of your diamond.
Again, the best way to determine the price of a diamond is to get a Diamond Grading Report and use the information in it to look up the price in one of the guides that your diamond cutting industry uses. With the right worth in mind, you will be better informed about the value that you have paid for the diamond in your possession, as well as of the diamond jewelry that you are considering purchasing.
About the Author
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