Diamond Shopping? Know The Benefits Of Bonded Diamonds
Buying a diamond for the first time is not as simple as just going to the jewelry store and picking one out. In fact, the more you research the diamond industry, the more confused you might become. You have probably learned what you need to know concerning cut, clarity, color and carat, but you also need to know what the benefits are of purchasing a bonded or insured diamond. This guide explains what those benefits are.
Benefit #1: Buy Back Policy
Look for a bonded jeweler to purchase your diamond from and you'll have the benefit of selling your diamond back to that same jeweler for the price at which you purchased it for.
This buy back policy is good for as long as you own the diamond. Keep any receipts, certifications and other documentation that the jeweler provides you in a safe spot, in case the day you want, or need, to sell your diamond back comes.
Benefit #2: Breakage Policy
Diamonds are the hardest substance on earth. But occasionally, some may chip. Your investment in a bonded diamond is protected. The diamond is either replaced or a full refund given, no matter when the chip or breakage occurred.
This is another situation where you need the diamond's documentation to prove you have the warranty, and that the diamond is actually bonded. If the jeweler has left the establishment where you purchased the diamond, you can just show the new jeweler the documentation and you'll still receive the same refund, replacement or repair.
Benefit #3: Increase in Value
There is an old advertising slogan, which says that diamonds are a girl's best friend. However, if you're an investor, they might be your best friend as well. Diamonds don't typically lose their value, but in case there is some sort of a diamond market crash one day, your investment is protected.
The bonded jeweler will offer you the same amount that you paid for your diamond, regardless of whether the market is down when you trade your diamond in for a bigger one. If your diamond is actually worth more on the day you trade it in, you'll get the going rate.
Ask the jewelry store if their diamonds are bonded. You may pay a little more for a bonded diamond, but in the end, the investment opportunity you have from it could be worth the extra cost, especially if you want to get that special someone a bigger diamond in the future.
For more information, contact Rinehart Brothers Jewelers or a similar company.