May 28, 2010
Write it Down
Once you’ve made a purchase – whether it’s a diamond or color gemstone, you should think about protecting it against loss. There is insurance available – just like you insure your furniture or car. But, you need some documentation before handing over the premium.
This documentation has been collectively called an appraisal. There are some technical differences to the title of this document, depending on who sold the item to you and who’s writing the document. But let’s discuss why you need this first.
The description and value of your item, let’s say a diamond ring, is your assurance that first, the ring is yours, and second, exactly what kind and quality of diamond ring you own. The value is what you would have to pay to replace it – sometimes the same amount as the price you paid, but not always.
You deserve a complete description of your ring, even if you don’t intend to insure it. If you have a loss, such as a burglary, you have a record of the ring being yours! If you have a picture, it’s even better. If the description is thorough, as it would be on a professional appraisal, it will contain identifying information that could help prove it’s yours when it’s found. That’s the best.
Sales receipts are usually vague and rarely include a photograph of the item. With your next fine jewelry purchase, ask the jeweler to provide a document with a full description of the item which is suitable for insurance. This is called a Statement of Replacement Cost. (This is not an appraisal when written by the jeweler who made the sale.) The information should describe the identity, measurements, weight, and quality of any gemstones as well as the metal and design of the mounting. This document should be on the jeweler’s letterhead and, it should be signed! Have a great holiday weekend…Dii
May 27, 2010
Mind Your Qs & As
Don’t hesitate to ask questions of the jeweler. Demand professionalism, honesty, knowledge, and ethical business practices.
Q: Are you a member in the American Gem Society (AGS)?
Best A: Yes, we’ve been members since [ date ]. We are among a select group of jewelers nationwide that have met the strict standards for American Gem Society membership. Our dedication to ethical business standards is your assurance that you are shopping with a jeweler you can trust.
Bottom line: If they’re not members of the AGS, what professional association do they belong to and why?
Q: Do you have any professional credentials from the American Gem Society?
Best A: Yes, my title [Registered Jeweler, Certified Gemologist, or Certified Gemologist Appraiser] was earned by having both gemological education and industry experience. Our store has [#] titleholders on staff. And, my AGS title must be renewed annually through continuing education, proven ethics, and a recertification exam. This means you can be confident in our up-to-date knowledge and professionalism.
Bottom line: If they don’t have professional credentials from the American Gem Society, what education have they completed and how up-to-date is that knowledge?
Q: Do you know how to determine the grade of a diamond?
Best A: Yes, in order to achieve my title, I had to pass a diamond grading class to prove I understand and can explain the value factors to our customers. It’s not enough to just read a report to you. It’s important that I can interpret the report and advise you on the value of the diamond – as well as verify the diamond to the report.
Bottom line: If the jeweler doesn’t know diamonds, don’t get to know him (or her).
Q: Do you guarantee the quality of your diamonds?
Best A: Yes, with every diamond, you receive a Statement of Replacement Cost documenting our grading of the diamond and its value – whether it has an independent lab report or not. In fact, only AGS stores can offer a true guarantee backed by the integrity of the AGS Laboratories. This is called a Diamond Quality™ Certificate.
Bottom line: The jeweler is responsible for the accuracy of the diamond’s quality and size. Although these grades are opinions by various professionals, the reputation of the grading report along with the jeweler’s expertise should put your mind at ease.
Only American Gem Society members are held accountable by a Grievance and Review Process within the Society guidelines. Any consumer or jeweler can file a complaint with the CEO of the AGS. (www.AmericanGemSociety.org) You deserve the correct answers – delivered with integrity. Questions? …Dii
May 26, 2010
Rules of Engagement
When asking a question – engaging with a sales associate – you may not know if you’re getting the correct answer, so tune into the manner of the answer! For example, if I ask my accountant if a certain deduction is possible, I expect she will tell me yes or no. Although I have to trust her to give me the correct answer, I wouldn’t feel too secure if her answer was, “Gee, I don’t know”. I would expect her to follow up that line with, “but, I’ll find out”.
A good jeweler may not have all the answers, but listen to the response and the manner in which it is given. Is the answer helpful or misleading? Here are a few good questions to ask:
Q: Can you tell me about clarity-enhanced diamonds?
A: Yes, and although an “enhanced” diamond may sound like it’s better than one which is not enhanced, it’s more accurate to say that they are diamonds which appear better, but are actually not. They are different in how they are priced (less than non-enhanced diamonds) and different in that additional care must be taken if you decide to purchase one.
Bottom line: A jeweler may choose not to sell clarity-enhanced diamonds, but they should be able to tell you about them.
Q: I saw a diamond on the Internet for a lot less than your diamonds. Why?
A: The Internet lists diamonds for sale with their report information; however, wouldn’t you like to see the diamond and how it looks before you make a purchase? Each diamond is unique. Tell me about some of the diamonds you’ve been researching and let me show you how they compare. Many times the lowest price is not the best value.
Bottom line: A knowledgeable jeweler doesn’t buy a diamond without seeing it – why should you?
Q: Of the 4Cs – cut, color, clarity, or carat weight – which is the most important?
A: When it comes to choosing a diamond, different people may have different ideas on what is most important to them. But when it comes to the beauty of a diamond, cut is the most important. Let me show you how cut affects the brightness and fire of a diamond.
Bottom line: The Rule is – spend wisely. You want a diamond that sparkles from across the room. …Dii
May 25, 2010
ROI
Many times I’m asked, “Is a diamond a good investment?” The main investment when purchasing a diamond is an investment in LOVE! Yes! When you invest in Love, the relationship grows, right? So, maybe a diamond’s value will grow as your love grows for each other.
A beautiful diamond receives lots of compliments and everyone loves compliments. They make you feel good, even when you’re down. And speaking of down – you don’t have to check the charts to see how today’s market is doing. You don’t have to consider the ups and the downs of day-to-day trading. (Work on the ups and downs on your relationship instead). You can take a diamond with you wherever you go. You can give it away without paying taxes on it. And, if you must, you might just decide to sell it for cash. The best ROI? Trade it in for a bigger model. She’ll love that – and you!! …Dii
May 24, 2010
Extreme Makeover
Sometimes, you almost need to start over. You get new hair, makeup, and clothing. Or, in the case of a house, take everything down to the studs. It happens with gemstones too – although I use the word “gemstone” lightly. The starting material – and the resulting material – may not deserve that description.
Ruby is the latest to receive an extreme makeover. The starting material is of such a low quality, that heat, lead glass, and sometimes other rubies are used to “fill in the cracks” and “hold the stone together”. In the jewelry industry, these are sometimes referred to as composite rubies. Personally, I don’t even think they deserve to be called any kind of ruby.
Do they look okay? Unfortunately, they do (without magnification). Do they require special care? Absolutely! Does this treatment significantly affect the value? Big time. So, be very careful of offers that seem too low to be true! Make your purchases only from a credible jeweler who has the proven knowledge and ethics to disclose all makeovers! …Dii
May 21, 2010
Home Improvement
Maybe it’s just me, but are more people taking on DIY projects at home? Tim the Tool Man Taylor consistently tried to “power up” his appliances. Today’s HGTV channel has a variety of topics from how to stage your house to showing various stages of repairs and renovations.
Improvements are made to gemstones too. It’s not just the faceting and polishing that takes a rough pebble to a sparkling gem. It may be subjected to dyes, fillers, coatings, heat, or irradiation too. What’s considered a common and acceptable treatment – and what’s not?
According to the FTC Guidelines, a jeweler should disclose any treatment or enhancement that is not permanent, requires special care, or has a significant effect on the value of the stone. Which improvements, then, might be of interest to you?
First, fracture-filled diamonds are a big problem. This treatment can make the diamond appear to look better – but it can be damaged with repeated ultrasonic cleaning, steam cleaning, or heat from a jewelry repair. It requires special care to avoid the damage, and definitely affects the value of the diamond.
Another common treatment – although more universally accepted – is the heating of sapphires and rubies to enhance their color. This treatment is permanent – the stones require no special care – and since 99.9% are heated, is hard to argue that this significantly affects the value. Will a non-heated sapphire cost more? For larger, rare gems, yes – you will pay a premium for a non-heated sapphire.
Would you like to know what a gemstone endures before it gets set into a ring, earrings, or other piece of jewelry? Shop with an expert who knows and cares. Your American Gem Society Registered Jeweler, Certified Gemologist, or Certified Gemologist Appraiser pledges to disclose all treatments and advise you on the proper care for your jewelry. Have a great weekend. …Dii
May 20, 2010
Dancing With the Stars
Star Sapphire
Guess there are many people who love the stars… so let’s talk about stars that dance on your finger rather than on a dance floor. Star sapphires, a phenomenal variety of sapphire, can be found in blue, brown (black) and pink. The sapphire is polished into a dome and the six-ray star comes out when hit with a spot light – either the sunlight or a direct beam of light.
The brown star sapphire is the most affordable and mostly found in men’s rings. Pink stars – or sometimes called star rubies – are a bit more difficult to find and therefore more expensive. Blue star sapphires can be a bit gray rather than blue – but the true blues will command some higher prices too. It can be difficult to find the deep color with the distinct star. But it’s worth the star search. …Dii
May 19, 2010
The Biggest Loser
AGS Laboratories Platinum Report
Recently, I’ve received emails about lost diamond “certificates” and their question is, how do they go about getting a duplicate? Do independent laboratories print duplicates upon request? What information is needed to prove you are the owner of the document? After all, the jeweler probably paid for the report – and then included it with the sale of the diamond.
With the AGS Laboratories, only the client who purchased the document can request a copy. Clients are either suppliers or retail jewelers – not consumers. Therefore, a duplicate cannot be obtained without the help of the jeweler who sold the diamond. A copy of the report, however, is available on the AGS Laboratories website, www.agslab.com. A consumer would need the document number and weight of the diamond to view the report. …Dii
May 18, 2010
Without a Trace
Robert Shipley, founder of AGS
Television news reporting loves to go undercover and discover jewelers who either can’t or don’t disclose gemstone treatments. I don’t particularly mind them exposing those who are incompetent or unethical, but I also don’t particularly like the fact that there are jewelers who aren’t knowledgeable or ethical. Ignorance is no excuse! “Buyer Beware” is so true!!
Here is a quote from the founder of the American Gem Society:
“Both knowledge and ethics are necessary to protect the consumer because a knowledgeable gemologist, without ethics, can cheat the customer by misrepresentation while the most ethical jeweler can innocently mislead the customer because of lack of knowledge.”
It’s difficult to trace a gemstone’s path from the mine to the jewelry display case. To make matters even more challenging, there are treatments that are difficult, if not impossible for the gemologist/jeweler to recognize.
What gemstones aren’t treated or enhanced? Very few. If we just consider the birthstones, garnet (January), alexandrite (June), peridot (August), and opal (October) make the list. (Keep in mind – never say never.) For a good source of information about gemstones and their treatments, visit www.agta.org and look for their Gemstone Info Manual. For a knowledgeable and ethical jeweler, visit an American Gem Society jeweler. … Dii
May 17, 2010
Consider Your Lifestyle
Now that you want to purchase a diamond engagement ring, what style is best for you? Today, white metal is the Hot metal of choice and round diamonds are still holding the top spot followed by princess cuts.
Keep these lifestyle tips in mind:
Into sports and exercise? Take off the ring. Even a firm grip on a bicycle can reshape the shank of your ring.
On a computer all day? Not a concern. However, frequent hand washing not only leaves your hands dry; it can leave a soapy residue on your diamond. If you take the ring off to wash your hands or apply lotion, you take the chance of leaving it at the sink. Have a jar of jewelry cleaner at home and soak your ring at the end of the day.
Love the hot tub? This and swimming pools are not good for white gold. Chemicals can react with the nickel alloy and leave the metal brittle. You might consider platinum or palladium.
The more active you are, the more you should consider a setting where the diamond is set low. Or, consider six prongs instead of four. If you like modern designs, look at a bezel setting.
If you prefer white metal, consider spending a bit more for platinum. If you like yellow gold, choose 14 or 18 karat. 22 or 24 karat is too soft to safely hold a diamond. …Dii
