3 Misconceptions You’ll Hear When Buying Diamond Jewelry

If you are shopping for an expensive piece of jewelry, such as a diamond engagement ring, diamond earrings, or diamond tennis bracelet, there will be a lot of people competing over your business. A large sale can make or break a week for a jewelry sales person or business owner. In doing your shopping, you will hear a lot of nice-sounding things, some of which may not be totally true. Here are a three phrases to watch out for. 1. It’s an investment. There is some truth to this statement, because a piece of jewelry is certainly an investment in your relationship. Most jewelry is not, however, a sound financial investment. Unless you are dealing in gold bars, antiques, or rare stones, you will not get a higher return on your jewelry purchase. If you decide that you want to part with a diamond ring or other piece of jewelry, you will most certainly not be able to sell it for the price you paid, provided you paid retail. You have the option of either selling it on ebay or to a jewelry broker. However, do not expect to get your money back, let alone to make a profit on the transaction. 2. It’s a beautiful stone. This statement means almost nothing. Beauty is in the eyes of the beholder, as they say. Any stone can be called beautiful, but this is too subjective a term to rely on in purchasing a diamond. What you need to know is the color, cut, and quality grade of the diamond, not that it is “beautiful.” Value is the result of a precise calculation, not just descriptive adjectives. 3. Don’t worry, if anything happens to it, I’ll take care of it. When a jeweler says this to you, chances are he does mean it. Unfortunately, his sincerity is not always good enough. Who is to say he will still be there when you need help? If you purchase a diamond ring, you may have it for the next thirty years. There is no guarantee that a jeweler will still be in business five years in the future, let alone thirty. If you are dealing with an established chain store, the manager may tell you he’ll take care of it, but if he retires or moves on, will the next manager honor that promise? Be sure to get any promises of warranty in writing. These are just a few of the things you may hear from the mouth of your jeweler when you are shopping for a diamond engagement ring or other expensive jewelry item. Just remember to take everything you hear with a grain of salt, and be sure to do your homework before you buy.