The saying goes that diamonds are a girl’s best friend.
This motto still rings true as the diamond industry generates $72 billion in sales each year.
In fact, the industry has grown by 300 percent over the last 25 years. The United States is the largest diamond consumer in the world, representing more than half of the global market.
Demand for diamond jewelry is equally strong at pawn shops. For this reason, pawn shops are willing to buy your diamond jewelry for a great price.
Read on to find how pawn shops appraise diamonds. Learn how diamond appraisers determine its worth and pay cash for your jewelry.
The first step in the appraisal process is determining the weight of the diamond. This is commonly referred to as a carat. The precise weight of a metric carat is 200 milligrams.
Sometimes you will hear diamond appraisers referring to points. This is simply the diamond’s weight in carats to the hundredth decimal point. For example, a fifty pointer represents 0.50 carats.
In many cases, it is true that the heavier the diamond the higher the value. This is because larger diamonds are more desirable to consumers.
However, it would be a mistake to judge diamond value on weight alone. There are 3 other factors that drive value. Two diamonds of the same weight can have very different values due to these factors.
The next factor in diamond valuation is color. Colorless diamonds are extremely rare and fetch the highest value on the resale market.
Yellow and tan tint in the diamond reduces the resale value. To help appraisers and consumers alike, the experts developed a sliding scale for color.
The highest grade is a D-F score and means the diamond is colorless. Next, a G-J grade means the diamond is near colorless.
The final three grades include K-M, N-R, and S-Z. Each subsequent grade means there is more yellow and tan tint in the diamond.
Clarity refers to the number of visible defects on the diamond. These defects hinder the overall quality of stone as it becomes less clear.
A reliable diamond appraiser will put the stone under 10x microscope magnification. The appraiser then scores the diamond’s clarity. The sliding scale ranges from flawless to included. The term included refers to noticeable defects to the naked eye.
The final appraisal factor is the diamond’s cut. This pertains to the manufacturer’s quality when the stone was cut into a particular shape.
Like the other factors, cut quality is also on a grading scale. The scale ranges from 0 to 10, with a 0 being ideal and a 10 representing a poor cut.
The quality of the cut brings life and sparkle to the diamond. Appraisers generally use three terms to describe cut quality; brightness, fire, and scintillation.
A Recap of How Pawn Shops Appraise Diamonds
Selling your diamonds at a pawn shop is a great way to earn cash. In general, pawn shops are going to weigh the diamond and inspect it under a microscope. They are looking to grade the diamond on color, cut, and clarity.
If you enjoyed this article about how pawn shops appraise diamonds, check out our blog for other great content.