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Where can you buy loose diamonds?

Saturday, September 24th

Where Can You Buy Loose Diamonds?

Are you preparing to create a custom piece of jewelry, such as an engagement ring or an anniversary pendant necklace? Do you want to invest in quality loose diamonds for financial gain when their value increases down the road? Regardless of your reasons, you understandably need to know how to find quality loose diamonds for sale. While you can find loose diamonds for sale online and in local stores, shopping online may be more advantageous. For example, by shopping online, you may be able to comparison shop more easily. This enables you to find the best deal available on high-quality gemstones that are aligned with your expectations.

The good news is that there are several types of sources that you can turn to for your next purchase of loose diamonds. However, be aware that each source may offer a different type of shopping experience with varying prices and qualities. With this in mind, it is important to always choose a reputable source when you are buying loose diamonds in person or online.

Local Jewelry Stores

Some of the jewelry stores located close to your home may offer loose diamonds for sale. Because of your familiarity with local shops, these stores may be some of the first sellers that come to mind when you think about buying loose diamonds. Generally, these retailers may have more overhead than a retailer that exclusively has an online presence. This overhead may translate to a higher price than what you may pay through other online sources of loose diamonds.

In addition, local jewelry stores often have a limited amount of available space to store jewelry and loose gemstones. Because of this, they will have a limited selection available for you to choose from. The lack of variety and the cost associated with shopping for loose diamonds at a local store can turn off some shoppers. Nonetheless, if you prefer to buy loose diamonds from a source that you are familiar with, this could be an avenue to consider.

Online Diamond Retailers

Several online jewelry stores sell loose gemstones, so this may be a great starting point for your search. When you are shopping for loose diamonds, it is important to look for their certification. Some online jewelry stores that sell loose diamonds do not offer certified diamonds. When you shop online at these stores, you may not know exactly what you are buying and what the true value of those uncertified diamonds is.

You also cannot visually inspect the diamonds or have them appraised until after your purchase. As a result, you may find yourself overpaying for low-quality diamonds if you purchase uncertified diamonds. Look for certifications from GIA, IGI or AGS when you are shopping for loose diamonds from any online retailers as well as from other sources. Then, take the additional step of confirming that the gemstone listed in the paperwork matches the gemstone that you are preparing to buy.

One of the great things about online diamond retailers is that the most reputable retailers have a detailed, buyer-friendly platform that enables you to easily find what you are looking for. In fact, some online retailers have a custom search portal that helps you locate diamonds in your price range based on color, carat, clarity and cut. Through these portals, you may be able to narrow the scope of your search to the options that are the best fit for you in minutes or less. More than that, online retailers may have a far greater selection of diamonds for you to choose from.

Online Diamond Wholesalers

Diamond wholesalers purchase large quantities of loose diamonds directly from the source. By purchasing diamonds in bulk, they are able to secure excellent pricing. Generally, wholesalers do not sell individual diamonds to consumers, but you may find wholesalers who are interested in selling you a large number of diamonds with wholesale pricing. This may not work well for you if you only need to purchase one diamond for custom jewelry, but it may be suitable for your needs if you are buying loose diamonds as an investment. Because diamond wholesalers generally do not sell individual diamonds to the public, they do not usually have the same easy-to-use search portal that online retailers have.

Keep in mind that the diamond industry uses a pricing guide called the Rapaport Diamond Report. This is a compilation of average pricing for diamonds based on the four Cs, which are clarity, color, cut and carats. The guide covers diamonds that weigh up to six carats. These prices are not fixed. Some wholesalers will sell you loose diamonds that directly correspond to the pricing in the Rapaport Diamond Report, but others may offer you a discounted rate below the listed pricing.

Resellers

There are many reasons why someone may wish to sell their loose diamond to you. For example, the person may have intended to create a custom engagement ring, and that plan may have fallen through because of a failed relationship. The good news for you is that you may be able to buy a diamond directly from a reseller for a fraction of the cost that he or she paid for it. In fact, most diamond resellers who have recently purchased their gemstones will lose up to or even more than 25 percent when they sell their diamond to a third party. This translates into a great savings opportunity for you.

However, it can be challenging to find quality diamonds from a reseller. First, you must find a reseller who has the quality and size of diamond that you want. Second, you must come to an agreement on price. You can use the Rapaport Diamond Report to get good idea on the price of the diamond. Your seller should provide you with all of the original paperwork on the diamond, but you should still get it professionally appraised before you buy it. While you may get a deal on a loose diamond purchased from a reseller, the extra legwork associated with finding and valuing the diamond makes this a relatively undesirable option for many buyers.

What to Look for When Buying Loose Diamonds

If you have never purchased a loose diamond before, finding a seller to work with may be only one of the factors that you need to consider today. You need to find a seller who has loose diamonds that you actually want to purchase. Before you start shopping, narrow down important matters like your budget and what you expect from the stones. Specifically, consider the diamonds' shape, cut, clarity and carat weight.

After you know what you are looking for, you can start shopping through reputable sellers. Always look for a diamond's certificate, and take the extra step of verifying its authenticity. For example, GIA has a dedicated page on its website that enables you to confirm authenticity. When you shop online, you generally do not have the option of inspecting the diamond before you buy it, so consider buying from a reputable retailer or wholesaler with a reasonable return policy. Once you have the loose diamonds in hand, you can get them professionally appraised. You also may consider buying insurance coverage on your valuable gemstones in case they are lost or stolen.

While buying loose diamonds is similar to buying diamond jewelry in several important ways, there are important differences to keep in mind. Two of the most important factors to focus on are the reputation of the seller and the quality of the diamonds. Now that you are more familiar with your buying options for loose diamonds and what to expect from the process, you can feel more confident as you start shopping for your new gemstones.

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Diamond Store FAQ

One of the most sought-after gemstones in the world, diamonds are one of the hardest substances known to man. Diamonds form from carbon under high pressure and temperature.
Fun backstory: diamonds weren't commonly used in engagement rings until 1947, when the British mining company De Beers featured them in an advertising campaign! The rest, as they say, is history. Diamonds now represent financial success, long-term commitment, and status.
Cut, carat, color, clarity. Cut is the only human "influence" on a gemstone: round, princess, cushion, marquise and oval are some of the more common shapes given to diamonds. Carat represents the weight of the diamond, with 1 carat equal to 200 milligrams. Color evaluates the stone using letters of the alphabet; the closer to "A" , the whiter the stone, though most people find stones in the G-H rating to still be icy-white in appearance. Clarity is a little more difficult for the average consumer to see, especially without magnification: the categories measure inclusions, or irregularities that happen during the formation of the diamonds but are hard to see without magnification, as well as blemishes like scratches or chips.
The names say it all: natural diamonds come from the earth, while lab-created or synthetic diamonds come from scientists! But, other than their origins, these two types of diamonds are exactly the same chemically and optically: even expert gemologists have a hard time telling them apart without using a jeweler's loupe! And, as you might imagine, synthetic diamonds are usually much more affordable.
These acronyms all refer to gemological societies and institutes with diamond grading scales used throughout the industry: Gemological Institute of America, American Gemological Society, European Gemological Laboratory, and International Gemological Institute. Generally speaking, GIA and AGS are seen as the most accurate and scientific, so if you're buying a higher-priced stone you may want to ensure that it's been graded by one (or both!) of those two systems.
If you're looking for a one-of-a-kind piece, you're not going to find it by buying the first pretty ring or solitaires you see at your local jewelry store. Many customers want something with a story that can be handed down as an heirloom: the shape of the stone chosen to match her eyes, the setting selected to complement his personality, and so on. Buying loose diamonds is the first step in a truly unique piece of jewelry.
While you'll find no shortage of companies wanting to sell you diamonds as an investment, most experts say that the average consumer isn't likely to profit from them. Unless you're buying extremely large diamonds (e.g. 20 carats or more) or ones with a noteworthy history (like being owned by a celebrity), you may have a hard time selling the diamonds you buy for more than you paid. If you're planning on spending a significant amount of money for a diamond, do it because you appreciate the beauty or want to own (or give) something precious - but save your investments for more reliable means of generating profits!
Absolutely. Of course, you shouldn't buy a diamond from an online retailer without doing your research: choose a business with a well-established history, preferably with a high rating from the BBB, and be sure that the diamond you buy has been rated and certified by one of the independent institutes or laboratories mentioned above. You can rest assured that the diamond retailer will take every measure to get your stone delivered safely, including tracking and insurance.
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