Diamonds are expensive. However, did you know a significant addition to its value comes from the quality of the cut and processing of the diamond? Learning how to buy rough diamonds can help you make significant savings or profits by buying rough diamonds and having them cut and polished by a cutter. But it is not all as simple as it sounds, there are serious financial risks involved in the process and plenty of scams around.
Here are the 7 cardinal rules on buying rough diamonds
Rule #1: Learn about the classification of rough diamonds
Rule #2: Buy rough diamonds from a reputable vendor
Rule #3: Check in daylight/daylight lamp and get your own tools
Rule #4: Guaranteed quality rough diamonds
Rule #5: Use a skilled and reputable cutter to cut your rough diamonds
Rule #6: Appraise your diamonds before and after
Rule #7: Buy conflict free diamonds
Apart from good personal reasons of not supporting human right abuses, blood diamonds are difficult to sell and will fetch you a lower price than what you expect. Always look for Kimberly process certification of the rough diamonds you buy. Overall, buying rough diamonds and getting them cut requires considerable knowledge in the world of diamonds.
If you want to make a profit by selling them or use them as a cheaper alternative to buying cut and polished diamonds, be prepared to invest some of your time learning how to buy rough diamonds to make it worth your while.