It could be that you own a stunning engagement ring. Maybe you’re in the position where you’ve inherited a family heirloom. Perhaps you’ve been in the position where you’ve been able to go out and purchase an antique piece. No matter how it’s become yours, at some point you’re going to be needing a diamond valuation.
You may have an idea of what was paid for the likes of a diamond ring, but this doesn’t necessarily reflect its true value. When you start to consider things such as high-value jewellery insurance, it’s vital that you know precisely what your diamond is worth.
In this article, we’re going to take a look at the diamond valuation process. This means that, by reading on, you’ll know all the points that need to be considered when attributing a value to your own.
For many lay people, it’s hard to distinguish between one diamond and another. Simply put, if one diamond appears to be around the same size as another, it wouldn’t be unreasonable to believe that they have, roughly, the same value. Of course, when it comes to high- value jewellery insurance, nobody wants to be basing cover on ‘roughly’.
The reality is that there is much that goes into a diamond valuation. Those who carry these out are known as gemologists and they are true specialists. They have the skills and knowledge to accurately value a diamond and many are members of bodies such as The Institute of Registered Valuers. We’re going to take a look at some of the points that they consider while offering a valuation.
While it’s true that all diamonds have things in common, such as the fact that they’re all created by compressed carbon, every single one of them is unique. You’re no doubt aware that diamonds come in an array of sizes, shapes, and even colours. These all go into making your diamond different from any other.
The industry needed to standardise the way in which a diamond valuation would be carried out and it settled upon the 4 Cs. These are:
We’re going to take a closer look at each of these and the role that they play:
One of the biggest factors that will impact a diamond valuation is the diamond’s weight. The word itself comes from ancient times when the seeds of carob trees were used to balance scales. In modern times, one carat is equal to 0.007055 ounces (that’s around 200 milligrams).
As you’d probably expect, the more that a diamond weighs, generally, it is worth more. However, there are still the remaining Cs to consider.
This C is a little different to the others. They are all based on natural features that a diamond possesses. When it comes to the cut, this is something that is in the hands of the craftsman. The quality of the cut matters, and adds value, because it is this that controls the amount of light that is reflected. It is this reflection that gives a diamond its true beauty.
Three factors are considered when looking at the quality of the cut. These are:
While most of us would imagine a diamond to be white, or colourless, they actually come in a range of colours. Certainly, this is the most common diamond but they also come in black, blue, pink, and yellow. When you're exploring high-value jewellery insurance, colour is something that is certain to have an impact.
While it is the white/colourless diamonds that give the sparkle. The more colourless a white diamond is, the more that it’s worth. When it comes to coloured diamonds though, the darker the colour the more the value goes up.
The final C that comes into play with a diamond valuation is clarity. This is all about just how pure a diamond is. It is examined for any flaws or blemishes. As you’d expect, the fewer of these that there are, the more that the diamond is worth. These blemishes are identified when the diamond is closely examined in a grading lab.
While many of the imperfections found in a grading lab aren’t visible to the naked eye, they do have a dramatic impact on the value of a diamond.
There are a variety of grading labs that exist. These specialise in examining diamonds and assign them a grade. The most common of these are:
These labs will take a look at a diamond and fully examine the 4 Cs. This is what gives a diamond its grade, and its value. You’ll find that the labs vary slightly when it comes to where they place their priorities and you’ll see that the certificates that they produce are very different.
If you’ve come into the possession of a diamond from a friend or a family member, you may find that establishing its value is not always straightforward. Certainly, if you haven’t received the certificate along with the diamond it gets that much harder. While there are ways around this, it will cost you both time and money to overcome.
A diamond valuation is something that you simply need if you’re looking into high-value jewellery insurance. We are the experts when it comes to insuring items such as these and we want to be sure that you’re getting the exact level of cover that you require.
If you have diamonds or any other high-value jewellery, that needs to be insured, why not get in touch and see what we have to offer?
You may have an idea of what was paid for the likes of a diamond ring, but this doesn’t necessarily reflect its true value. When you start to consider things such as high-value jewellery insurance, it’s vital that you know precisely what your diamond is worth.
In this article, we’re going to take a look at the diamond valuation process. This means that, by reading on, you’ll know all the points that need to be considered when attributing a value to your own.
Diamonds are evaluated by experts
For many lay people, it’s hard to distinguish between one diamond and another. Simply put, if one diamond appears to be around the same size as another, it wouldn’t be unreasonable to believe that they have, roughly, the same value. Of course, when it comes to high- value jewellery insurance, nobody wants to be basing cover on ‘roughly’.
The reality is that there is much that goes into a diamond valuation. Those who carry these out are known as gemologists and they are true specialists. They have the skills and knowledge to accurately value a diamond and many are members of bodies such as The Institute of Registered Valuers. We’re going to take a look at some of the points that they consider while offering a valuation.
The 4 Cs
While it’s true that all diamonds have things in common, such as the fact that they’re all created by compressed carbon, every single one of them is unique. You’re no doubt aware that diamonds come in an array of sizes, shapes, and even colours. These all go into making your diamond different from any other.
The industry needed to standardise the way in which a diamond valuation would be carried out and it settled upon the 4 Cs. These are:
- Carat
- Cut
- Colour
- Clarity
We’re going to take a closer look at each of these and the role that they play:
Carat
One of the biggest factors that will impact a diamond valuation is the diamond’s weight. The word itself comes from ancient times when the seeds of carob trees were used to balance scales. In modern times, one carat is equal to 0.007055 ounces (that’s around 200 milligrams).
As you’d probably expect, the more that a diamond weighs, generally, it is worth more. However, there are still the remaining Cs to consider.
Cut
This C is a little different to the others. They are all based on natural features that a diamond possesses. When it comes to the cut, this is something that is in the hands of the craftsman. The quality of the cut matters, and adds value, because it is this that controls the amount of light that is reflected. It is this reflection that gives a diamond its true beauty.
Three factors are considered when looking at the quality of the cut. These are:
- The brightness - this relates to the internal and external white light reflection
- The fire - this refers to how the white light scatters into the colours of the rainbow
- Sparkle - the amount of sparkle that the diamond is able to produce
Colour
While most of us would imagine a diamond to be white, or colourless, they actually come in a range of colours. Certainly, this is the most common diamond but they also come in black, blue, pink, and yellow. When you're exploring high-value jewellery insurance, colour is something that is certain to have an impact.
While it is the white/colourless diamonds that give the sparkle. The more colourless a white diamond is, the more that it’s worth. When it comes to coloured diamonds though, the darker the colour the more the value goes up.
Clarity
The final C that comes into play with a diamond valuation is clarity. This is all about just how pure a diamond is. It is examined for any flaws or blemishes. As you’d expect, the fewer of these that there are, the more that the diamond is worth. These blemishes are identified when the diamond is closely examined in a grading lab.
While many of the imperfections found in a grading lab aren’t visible to the naked eye, they do have a dramatic impact on the value of a diamond.
Where are diamonds graded?
There are a variety of grading labs that exist. These specialise in examining diamonds and assign them a grade. The most common of these are:
- The Gemological Institute of America (GIA)
- American Gemological Society (AGS)
- The International Gemological Institute (IGI)
These labs will take a look at a diamond and fully examine the 4 Cs. This is what gives a diamond its grade, and its value. You’ll find that the labs vary slightly when it comes to where they place their priorities and you’ll see that the certificates that they produce are very different.
The difficulty with valuing a family diamond
If you’ve come into the possession of a diamond from a friend or a family member, you may find that establishing its value is not always straightforward. Certainly, if you haven’t received the certificate along with the diamond it gets that much harder. While there are ways around this, it will cost you both time and money to overcome.
Final thoughts
A diamond valuation is something that you simply need if you’re looking into high-value jewellery insurance. We are the experts when it comes to insuring items such as these and we want to be sure that you’re getting the exact level of cover that you require.
If you have diamonds or any other high-value jewellery, that needs to be insured, why not get in touch and see what we have to offer?
To discuss your insurance needs with an experienced account manager please call 01202 937430 or apply online to get an instant quote