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DIAMOND PRICING

DIAMOND PRICING

Diamond pricing depends upon various factors like demand and supply, its many attributes, certification and grading and finally the premium or discount set by individual jewellers and suppliers. Pricing starts from the mine. After being harvested, the rough diamond stones are auctioned to the manufacturers. This is the first time a price is set. The auctionee diamond manufacturers known as sight holders. There are 79 sight holder manufacturing companies, the majority of whom are from India.

Then the rough diamond undergoes the process of cutting, polishing and finishing. This is a very costly process as the diamond cutter have to be immensely skilled craftsmen to get the diamond right without much wastage and losing weight. Plus the equipment used to cut and polish diamonds are also quite expensive. All these add on the cost of the diamond. Later on the individual jeweller charges the price. However to standardise the pricing, an organisation called Rapapport helps moderate the diamond pricing. It is used as a baseline for pricing for basically all loose diamonds sold as single individual stones (as opposed to diamonds sold in parcels) generally SI3 or better in clarity and K or better in color. Rapapport considers all factors and sets a standard price for diamond that fit in particular scale. This report, which is updated and published weekly, is known as the Rapaport Price List.

These are the whole price set by Rap report. There after the prices are either discounted or set at premium by individual retailers. GIA certified diamond are always set at a premium as compared to non-certified ones.

Expert tips to optimise price and value of your diamond:

1. Instead of round, deliberate on fancy shapes like radiant, cushion and princess cut. Not only are they priced at a discount, they also provide a stylish touch and finesse to your personality.

 2. Buy diamonds online. Because of no middle man, the prices of diamond sold by online jewellers is always at a good discount than in-store. Plus GIA certification has made online shopping quite safe and assured.

3. Balance the 4 C’s. Try to get the perfect balance of cut, clarity, colour and carat.

4. Size down: 0.95ct diamond is priced at discount as compared to 1ct. However it is quite difficult to find diamonds with such minor difference after all it is the job of diamond cutters to make certain the weight come precisely to the critical weight.

5. Buy Loose: Consider buying loose diamond rather than the whole engagement ring. Compound package deals are lot costlier than customised. You may also be certain about the diamond weight. Many online store now provide option to make your engagement ring from the scratch.

6. Always go for certified diamonds. Don’t compromise on the quality just because you are getting at cheaper price. GIA certified diamonds come with a quality guarantee and a most recommended.