Loose Diamond Prices.
We have decided on a ruby rather than the traditional diamond. How can I,
a truly inexperienced gem shopper have any way of knowing if a ruby is a
good one? I know what cut styles I like and that I want one that is a
deep color but how much should I expect to pay for a decent quality ruby?
Are they measured in carats like diamonds? In other words, if a jeweler
offers me a ruby of a particular carat weight (if that is how it is done)
for say $150, is there any way I can get a sense of whether that is a
reasonable price or if it must be a low quality stone?
I've read that better prices can be had from a "Diamond Exchange". Just
what that means I don't know -- it may be a wholesaler. I remember that
there was supposed to be one in New Haven.
A diamond "on sale" *never* means anything. Keep this in mind. Saying a
diamond is on sale is like saying "Here's this nice crisp 1993 US dollar
bill. I usually sell it for $2, but I'm having a 25%-off sale for a limited
time only and you can get it for the low low price of $1.50!"
Diamonds have intrinsic value, much like gold or platinum. Never buy a
diamond in a mounting, as the prongs can hide inclusions or cracks that can
drastically affect the value of the stone. Avoid mall chain jewlery stores
-- we made the mistake of purchasing a "25 point" stone at Shifrin, and upon
taking it to an expert for examination and insurance appraisal, we
discovered that it was either 17 point or poorly cut. We returned it, of
course.
Learn all you can about diamonds, from someone you trust, and make an
informed decision. You might want to call (313)DIAMOND (a Michigan diamond
cutting factory that does consumer education and sales) and ask them for
referrals in your area.