Beyond all that, sales of diamond jewelry are on the rise. 916, 22 carat, BIS hallmarked gold jewelery has many valuations. Similarly, what is the value of a diamond? How do you know if it’s a real diamond or a scam with crystal or glass stones? Nowadays many people are on the buying spree during the festive season so it is important to know how a pure diamond is evaluated if you are shopping for diamond jewellery.
Here are the details on how diamonds are evaluated and priced while buying diamond jewellery.
Generally, if you search for what is the price of gold today, what is the price of 22 carat gold, what is the price of 24 carat gold, you can determine the price of gold as per today’s status. But the price of a diamond cannot be known. Then on what basis is the price of diamond determined?
Price of Diamond Jewellery
When buying a diamond as jewellery, the price of the jewelery includes the cost of the diamond and the metal in which the diamond is encrusted. Mostly diamonds are embedded in gold jewelry. So the price of diamond jewelry is determined by adding the price of the diamond and the purity of the gold it is embedded in.
Vipin Sharma, Chief Sales Manager, Bluestone, an online jeweller, says, “There is no specific measurement to determine the price of a diamond. The price of a diamond is determined based on various factors. How a diamond is mined determines its base price. Apart from that, the cut, polish and design of the diamond and the demand for the diamond all determine the price of the diamond.
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The quality of the diamond
In English, diamond quality is called 4C. (Cut, Clarity, Color and Carat)
Diamond Cut – Before using it as a piece of jewelry or a particular shape in a piece of jewelry, the diamond is cut and polished as required. Cutting a diamond into beautiful shapes enhances its beauty. Diamond cutting is a weed! The more precisely it is cut, the more beautiful it is.
Clarity of Diamond – Everyone knows that coal turns into diamond. The nature of a diamond depends on how much pressure the coal can withstand to turn into a diamond. The clarity of a diamond is defined as whether it is clear or dull.
Diamond Color – Diamonds come in many colors ranging from colorless to pale yellow. It is worth noting that colorless diamonds are of good quality.
Diamond Weight (Carat) – refers to the weight of the diamond. A carat is measured as the weight of a diamond, ranging from 0.2 grams to 200 milligrams.
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Pricing of Diamond Jewellery
The price of gold will be determined based on the price of the diamond, the purity of the gold, how many grams of gold is used, the price of the diamond based on the 4C’s and including duty and GST.
Generally, 22 carat gold is not added to the gold used to make diamond jewellery. Often, only 18 carat or 14 carat gold is added.
Fee for Diamond Jewellery
In case of jewellery, it will be charged according to its workmanship. For fine cut diamond jewelry, a minimum commission of ₹1000 per gram of diamond jewelry will be charged. It is important to note that higher commissions are charged for daily use jewelery and lower commissions are charged for rarely used large size diamond jewellery.
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