Diamond & Jewelry News, Advice and Prices for Consumers
Diamond & Jewelry News, Advice and Prices for Consumers
October 1, 2010
I'm really hesitant about buying a vintage diamond. I kind of want to but it seems risky to buy a used diamond. I guess I'm kind of hoping to be convinced. Why do people buy or avoid buying estate diamonds?
October 8, 2010
Me! me! I'll convince you (LOL). I'm a big big fan of buying vintage. Other than the fact that it's simply cool, and you're getting a diamond ring that has a long history and has been passed down and had many interesting owners, which is always interesting, there are a few good reasons to go with estate diamond rings, and estate jewelry in general, instead of buying a new diamond ring at a shop.
First of all - it is seriously a bitchin' investment. You can later auction this piece of history and fetch a higher price than you would have for diamond merchandise you would buy today. Financially this is a better investment in my opinion.
But most importantly - this is the much much more environmentally/socially conscious way to go. You don't want a new diamond to be mined for your benefit. The estate diamond is already here, above-ground, circulating, and purchasing it will probably not send its owner to go buy a new one. Such a purchase does not contribute to the diamond mining industry like buying a new diamond does. This is better for the environment and this way you are sure to not be funding mining companies that have poor humanitarian labor policies. Even if you're buying a conflict-free diamond, the terms of employment in these mines are...well... the point is you can't really know. I say definitely go with vintage.
This said, you want to make sure you have a certificate that specifies the characteristics and value of the diamond ring you're purchasing. This is the difference between buying in a store and buying a vintage diamond from a private person. You need to be sure you know exactly what you're getting and that you're getting what you paid for. I would have the estate diamond assessed before buying it. Most people won't mind this kind of arrangement, and will agree to have you take the diamond to be appraised if you sign a contract and leave a deposit or something. So you should do this, but make sure the contact says you're going to get the money back when you return the diamond ring, and describe the diamond ring in the contract as best as you can including all the details of its characteristics that you'll find on the certificate.
