Things to Keep in Mind before Buying in Gemstones
Investing in gems is a big decision that you want to be serious about right from the start. Since it is unlikely for a buyer to recover from a bad investment of this kind, it is important to go prepared. Learning more about the gemstones you have in mind, talking to friends, coworkers, and others who might have valuable advice, reading online, etc., are a good way to start. But time is of the essence and that’s what makes the business of buying gemstones all the more challenging. So, here is a definitive guide for people out there who are looking to invest in gemstones.
Things to Keep in Mind before Buying in Gemstones
This article aims to cover a lot of grounds and is most likely to prepare you well for the job. So, don’t rush through. Just take a moment to glance through this page to get a hang of the affair.
What Should Be My Priorities?
Things to Keep in Mind before Buying in Gemstones
When buying diamonds (Read more: https://www.gsdiamonds.com.au/diamonds/) or any gemstones you should have a set of priorities, and you must not stop until they are fully checked. Here they are:
- One of the many things that should be a priority on a gemstone buyer’s list is the source. Selecting the right source is about as important as the product you are purchasing. Never make the purchase without confirming that it’s a certified seller.
- The second is controlling your cost. Never let the cost go out of control. If you have to downgrade your picks for that, do it but staying in control of the cost is paramount to good investment.
- No one deal is equally good for all gemstones. What’s a good deal on sapphire could be an even better deal on ruby? So, always look into the deal and the kind of difference it makes to the price of the concerned stone before grabbing it.
- Buy investment-grade gemstones if you do not want to see the price fall anytime in the future. Gems value often rises, but many times they fall it, and the lower the quality is, the lesser you get on reselling.
Anything to Bear in Mind?
Things to Keep in Mind before Buying in Gemstones
Depending on what gems you are interested in, there are some facts that you need to have in mind while purchasing.
In colored gemstones, flawless is rarer than in diamonds. So, if you have picked up a colored gem from the flawless grade, know that it is going to pinch quite a bit. So, unless you are ready for it, it’s best to avoid that section altogether.
While going for diamonds, know that the premium is where clarity is. A clear diamond is what holds all the value. But in colored gems, that’s not the case. In fact, in colored gemstones, clarity does not carry any extra value. So, if a seller is trying to push a gemstone for its clarity, know that you are in for a scam.
Inclusions are not always a bad thing. Inclusions in moderation have never hurt anybody. In fact, they are evidence that can lead you to the origin of the gemstone, its date, etc. Making an unnecessary fuss about inclusions will only push you further towards the high-end section where prices are predatory. An eye-clear stone is a fair medium between flawless and clouded.
Buyers often confuse clarity with flawlessness. While flawless is the ultimate clarity grade, it may not be what you want for your stone. In fact, the most practical way of measuring clarity is to judge against the gemstone’s normal standard. So, depending on the stone you have in mind, the standard clarity can be high or low. Prices would vary depending on that.
Things to Keep in Mind before Buying in Gemstones
What Are the Common Pitfalls Down This Road?
When you are thinking of investing in gemstones, you also want to get familiar with the roadblocks along the way. Even a seemingly innocent misstep along the way can nudge you in the wrong direction. So, here are the mistakes that you want to avoid at all costs when buying gemstones. They are pretty common and have led many before you to ruinous results. So, pay attention.
No Set Budget
It’s a serious misstep to go with an open budget. It can turn the whole endeavor on its head. You can easily skid out of the boundaries inside which you’d be comfortable. On the flip side, it is quite difficult to set a budget when you don’t have a specific gemstone in mind. Regardless, you want to go with a budget in mind or be prepared to end up making an unwisely expensive purchase. It is always in the interest of the salesmen to push for a bigger sale, and a buyer without a budget restriction is more likely to give in to that than one with.
Skipping Examination
No matter the amount of research you put into it, never miss the part where you take the stone in your hand and examine it. For those buying online, you have to wait till the stone is delivered and then you can inspect it up close. This is important even if you don’t know anything about diamonds or don’t have any sophisticated tools at hand because you never know what might come to your attention.
Missing Research Work
Things to Keep in Mind before Buying in Gemstones
The above point is interlinked with this one. Just as you can’t afford to miss inspecting your gemstone, much the same you can’t skip doing the research work. The research work should take place at the beginning when you have just started looking out. The research work can bring you critical information that gives you an edge over other buyers. Information is key, and every buyer should have enough to make an educated decision.
Buying with No Purpose in Mind
Things to Keep in Mind before Buying in Gemstones
Last but not least, always set a purpose before buying your stones. Whether it’s for putting it on a piece of jewelry or for collection or for upgrading a piece of jewelry, you have to know what you are buying stone for. That streamlines the search and gives the buyer a purpose to go after.
Things to Keep in Mind before Buying in Gemstones
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