Diamond Certification Vs. Appraisal
Diamond buyers will often have a diamond certified and appraised before purchasing the gemstone. Although the terms are frequently used interchangeably, certifications and appraisals are different processes which are both required to accurately establish a diamond's value. Does this Spark an idea?
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Certification
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During the certification process, a gemological laboratory grades a loose diamond based on several criteria, including color, cut, clarity, size and fluorescence. Certification does not determine monetary value, but rather the overall quality of the diamond.
Grading Report
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The lab prepares a grading report, which includes ratings for each of the above criteria, as well as the diamond's measurements and comments about the diamond from the gemologist. The report is sent to diamond wholesalers and retailers and should be given to the buyer upon purchase.
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Gemological Laboratories
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Most diamond wholesalers feel the Gemological Institute of America (G.I.A.) and the American Gem Society (A.G.S.) are the most reputable gem labs for certifications. Both are notoriously strict in their grading procedures.
Appraisal
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A diamond appraisal is not nearly as extensive as a certification. Diamonds can be appraised while mounted (in a setting). The appraiser bases his evaluation mostly on what he can see, which means accuracy depends largely upon the appraiser's knowledge and skill. The appraisal establishes a monetary value for the diamond, and wholesalers use the value to determine the diamond's selling price.
Independent Appraisers
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Some wholesalers use in-house appraisers to evaluate their diamonds, which can lead to inflated diamond prices. If you are looking to purchase a diamond, use a third-party to certify and appraise in order to determine a fair and unbiased price.
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- Photo Credit Image by Flickr.com, courtesy of Stephen Durham
