When you purchase a diamond, especially a diamond that has already been in someone else’s possession, you want to keep a number of things in mind. We’ve talked about discerning a fake from a real diamond, and we’ve talked about finding the best cut, and we have even talked about whether you should purchase an antique diamond or a new diamond. However, it is also critical to keep a number of statistics in mind. These statistics will help round out your knowledge of diamond buying and the diamond industry, and it will make you a more confident buyer. Here are some surprising statistics about diamond buying.
- The average person pays double what they should be paying for an engagement ring. This shouldn’t come as a surprise to people in the retail industry – people are always looking to make a few extra bucks. However, in the diamond world, overcharging or over quantifying a diamond engagement ring is rampant – more so than in other industries.
- One out of three diamonds sold is laser-drilled. What does this mean for the consumer? Basically, you could be under the impression that you are buying a diamond with a lot of clarity and brilliance, but the truth is that the diamond could have undergone laser treatment. Laser treatments basically improve the quality of lower grade diamonds so that to the unassuming eye, it looks more valuable and you wind up spending more money. When you purchase a diamond, keep this statistic in mind and make sure your diamond is GIA certified so that you know exactly what you’re getting.
- One out of fifty diamonds is fracture filled. This is a nifty trick adopted by unsavory diamond dealers to add more value to diamonds. Basically, if a diamond has a low grading on clarity, the diamond is treated and fracture filled, which includes adding a glass-like material called bismuth to the diamond. Bismuth is a wonderful little ingredient, because it adds no weight to the diamond. This is why you want to be careful and pay close attention to the details of the diamond. If you notice any issues, it could be fracture filled and therefore worthless.
- One out of every two diamonds has been treated. The diamond industry is awash with virtually worthless diamonds. What do some diamond dealers do? They find a way to treat the diamonds, either with irradiation, coating or doublets, to make the diamond appear more valuable. With one out of every two diamonds treated, you really have to be wary and take into account how important it is to have an outside, impartial party examine and determine the true value of the diamond you are buying.
- 78% of all round diamonds are cut with the intention to save the weight of the diamond. This means that the diamond is cut poorly, which has the consequence of taking away the sparkle of the diamond. In fact, round diamonds that are cut poorly lose two-thirds of their sparkle. In the end, if you don’t want to lose your sparkle, you want to know the ideal cut characteristics for the shape of your diamond.