What is Your Diamond Worth?

Whether you are a long-time collector, have fallen on tough times and need quick cash, or have inherited diamonds from a family member, you may be wondering how to determine the true value of your diamond before finding a diamond buyer in Chicago.

Diamond Cuts

There are several different cuts when it comes to diamonds. While the cut doesn’t necessarily affect monetary value, some cuts are more popular than others and may be easier to find a buyer for. These include but are not limited to: the round cut, princess cut, and oval.

Color and Clarity

Diamonds naturally come in a variety of hues such as pink, yellow, red, and even brown. While clear or colorless diamonds seem to be most common, they are quite rare in nature. Colorless diamonds have more value in the market due to their ability to reflect light. Diamonds with colored hues generally absorb light and are less appealing to buyers.

Clarity refers to a lack of imperfections in your diamond. Almost all diamonds have flaws of one sort or another. Flawless diamonds are incredibly rare. The fewer imperfections your diamond has, the higher it rates on the scale for clarity.

What is a Carat?

When talking about diamonds, carat refers to the stone’s weight. The word carat is sourced from Greek and references the weight of a standard carob pod. In ancient Greece, the carob pod was used as a standard measurement.

In modern times, a carat is considered to be 200 milligrams. This is referred to as a metric carat. While we often hear people, who boast about the large carat value of their diamond, the truth is that the carat weight of a diamond matters little if the cut and clarity are not up to par.

The weight of these aspects in diamond value may depend on your buyer. If you are selling to someone for personal use, they may be more interested in the cut and carat of your diamond. On the other hand, pawn shops and professional buyers will likely weigh color and clarity more heavily.

If you’re looking for a diamond buyer in Chicago, contact the Chicago Gold Gallery at www.chicagogoldgallery.com.

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