The world is experiencing a pandemic at this time and the diamond marked is not excluded from its effects. When you contemplate the thought “Should I Sell My Diamond In Coral Gables Or Miami”, you should be aware of the current diamond market. Diamonds are valued by taking into effect many variables like cut, clarity, shape, and color. One thing which is almost never mentioned in any article referring to diamond value is market demand. Currently, due to the Corona Virus, diamond markets are depressed as engagements and weddings are being postponed, anniversaries and birthdays celebrated with less fanfare and there is a general stoppage of the economy. All of this translates into much lower diamond prices and a lack of demand.
There is a saying in real estate, buildings sell from the top down, this means that the penthouse is always one of the first to sell and the bottom floors the last. This demand cycle shows that more exclusive, and expensive, things sell faster than regular market goods. This principle applies to almost all industries including the diamond industry. Currently, there is a small demand for high end diamonds from 3 to six carats and there is very little demand for anything else. If you are the owner of a large D color flawless diamond you may find a buyer for it at a reasonable price. Asides from that, you will be hard pressed to find buyers for smaller or more included and saturated diamonds.
Diamonds are traded based on known quantities in the market and established quality. When a jewelry store or diamond dealer buys a diamond the price paid is based on expected return. Therefore, when the expected return is low and the time the diamond dealer or jewelry store is to keep the diamond in stock is long, the prices paid are lower. This is the main reason jewelry store and diamond dealers are paying a lower price for diamonds these days.
Shape is an important part of diamond value as round brilliant cut diamonds have been America’s favorite for a very long time. The evolution of the round brilliant cut diamond is a very interesting story as the round brilliant cut diamond evolved as diamond cutting technology evolved. It is very difficult to cut diamonds as they are the hardest substance on earth. Being hard also means they can be brittle. Diamonds are also tough as they have a resistance to impact which makes diamonds an excellent choice for an every day ring. The round brilliant cut diamond we see today has 58 facets and the parameters for an ideal round brilliant cut diamond were established by the American Gem Society. The round brilliant cut diamond’s 58 facets sizes and angles were developed by Marcel Tolkowsky. Tolkowsky developed his specifications in order to improve the life and scintillation of the European Cut Diamond which although beautiful, lacked in scintillation.
Ever since Tolkowsky developed the round brilliant cut specification others have been creating their own specifications and shapes. The radiant cut diamond is also a modern invention. It was developed by the Radiant Cut Diamond Company in New York in 1977 by Henry Grossband. Radiant cut diamonds remain popular as they feature a reflective pattern which creates the illusion of great depth. Other diamond shapes such as emerald cut and pear shape were developed a very long time ago with emerald cuts created in the 1500’s and pear shapes in 1475 by Lodewyk van Bercken. The pear shape diamond, or tear drop shape, also has 58 facets and it was the first brilliant cut style diamond shape which created a symmetrical, yet scaled set of facets which caused the illusion of scintillation all the way to its point. A proper pear shape diamond has a length to width ration of 1.5 to 1.
Fancy cut diamonds, or any diamond shapes which are not round, are popular but not as popular as the round brilliant cut. Oval cut diamonds and cushion cut diamonds are very popular among the fancy shapes, yet they still only account for less than ten percent of total diamond engagement ring sales. Pear shaped diamonds and other fancy cut diamonds are less desirable and therefore bring a lower price.
With all of the above in mind, you still have the same problem, “where do I sell my diamond in Miami and Coral Gables?” To properly approach this problem you need to figure out which jewelry store or diamond dealer has a large high end clientele and will therefore be able to pay the highest price for your diamond. The jewelry store should be established with a known clientele and a way to reach them in these difficult times. The jewelry store should be reputable and be in business at the same location for a long time. The jewelry store should have offices or partnerships in cities throughout the world. In short, the jewelry store should be like Regent Jewelers. In business at the same location since 1997, Regent Jewelers has partners in Hong Kong and New York which cater to high end clients who purchase diamonds and gemstones.