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.
How to Buy Rough Diamonds
Here are 7 cardinal rules on how to buy rough diamonds
Rule #1: Learn about the classification of rough diamonds
This should be a given, if you plan on buying rough diamonds you simply cannot begin without knowing the basics of rough diamonds for example the crystalline structure, the color tests, pricing etc. That is, unless you have an expert or can afford one who will make all the decisions for you. Classification of rough diamonds is a whole different language from the 4Cs of cut and polished diamonds.
Rule #2: Buy rough diamonds from a reputable vendor
This is simply common sense but many do get tempted to buy from unreliable sources due to attractive prices. Just remember, buying from unauthorized sources can land you in a lot of legal trouble in many countries not to mention the odds of being scammed are pretty high.
Rule #3: Check in daylight/daylight lamp and get your own tools
If you are examining rough diamonds, proper lighting is very important without proper lighting the color of the rough diamond may be altered and its true colors may remain hidden. Also if you are making a significant investment in buying rough diamonds, consider getting your own tools for examining them.
Rule #4: Guaranteed quality rough diamonds
Even if you have a decent appraisal skills look for guaranteed products that you can send to a lab for appraisal or have it independently appraised and return it if it does not match the quality you pay for.
Rule #5: Use a skilled and reputable cutter to cut your rough diamonds
If you are buying rough diamonds, chances are most likely you will want it cut for reselling or for your own use. Just be extra careful when choosing your cutter as improper handling and poor workmanship can ruin you investment.
Rule #6: Appraise your diamonds before and after
The rough diamond can be easily exchanged for another of lower quality. Therefore it is absolutely essential that you have an expert appraiser appraise it before cutting and do the same again after cutting to ensure you do not get duped.
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 the while.