Diamocycle

Diamond & Jewelry Appraisal 101

Diamond appraisal is a unique and often convoluted process. That said, it’s always worth knowing what your valuables are worth! With that in mind, here’s our Diamocycle Guide on Diamond Appraisals, to ensure you enter your jewelry appraisal equipped, educated, and informed.

What is a diamond appraisal?

A diamond appraisal is the process by which a gemologist or jewelry appraiser assigns a monetary value to a diamond or piece of jewelry. There are 27 different types of appraisals, based on their purpose, including selling a diamond or trying to discover your diamond resale value – so it’s always good to know why and what you’re looking for!

Why get a diamond appraisal?

People get diamonds appraised for a variety of reasons including inheritance, taxes, division of an estate between heirs, appraisal for jewelry insurance, an update on an insurance policy or an outdated jewelry appraisal. If you own a piece of jewelry or are aiming to sell a diamond ring, we highly recommend knowing how much your diamond is worth!

Given our long history in the diamond (and appraisal) business, we strongly recommend getting a diamond appraisal that meets your needs. Knowing what the diamond costs for inheritance taxes, insurance, resale, or just an estimate are all slightly different appraisal processes.

What are the steps to getting a diamond appraised?

  1. Cleaning. First, the diamond is cleaned, to ensure that the appraiser has a clear and full view of the stone.

  2. Condition Inspection. Next, its condition is reviewed for any damage, and its authenticity is tested, to ensure that it is a real (and not synthetic) diamond.

  3. Measurement and the 4Cs. Next, the appraiser ascertains the 4Cs of the diamond and measures it.

  4. Summary and Report, and lastly, the diamond grader will write a report with their findings and assign a market value.

What are the 4Cs of diamond grading and appraisal?

We’re glad you asked! The 4Cs of Diamond Grading and Appraisal are as follows:

Carat: This is the size of the diamond, as determined by its weight. And in case you’re curious as to how much is 1 carat: 1 carat is .2 grams.

Color: While at first glance most diamonds look clear, diamonds actually often have a slight brown or yellow tint to them. The color grade is determined on a scale form D (void of color) to Z (having a yellow tone).

Cut: This is the actual way that a diamond is cut, which is determined by the proportions and angles of each facet. Some standard cuts are: Point Cut, Table Cut, Old Single Cut, Peruzzi Cut, Mazarin Cut, and Old European Cut.

Clarity: This is the prevalence of flaws, inclusions (internal flaws), blemishes, scratches, or clouds that might occur on the interior or exterior of the stone. Compared to a chipped diamond, a diamond that is flawless is rare and incredibly valuable.

Where should I go to get a diamond appraisal?

Where you go depends on the value of the piece! While jewelry stores, independent appraisers, GIA appraisers, and other professionals might all offer an appraisal, it’s important to consider the expert you’re asking to appraise your diamond, based on the piece.

We would recommend hiring a trained gemologist with GIA credentials who’s well-versed in the qualities that make the piece unique, along with extensive knowledge of the second-hand market.

Here’s a Link to GIA Appraisal Associations, To Start.

That said, always remember that there’s no shame in asking for an appraiser’s credentials, what sorts of pieces they deal in, their specialty, and why they are best suited to appraise your stone. You’re about to hire them, there’s no problem in interviewing them for the job!

What should I look for in a diamond appraisal?

  1. A Certified and Expert Gemologist. Never be afraid to ask for your specialists credentials or expertise! You want to make sure your diamond’s in expert hands.

  2. A Process That Matches The Purpose of Appraisal. As mentioned, there are many different reasons to get an appraisal and each reason will result in a different process. Feel free to discuss with your gemologist your motives and to enquire into the process, to ensure that they are well matched.

  3. A Definitive Statement of Value with Authorized Approval. Make sure your appraise ends with documentation that refers back to your gemologist. As mentioned, we recommend using GIA-Certified Gemologists for all appraisals.

  4. A Declaration of Appraisal Purpose on Certificate. This will offer vital clarity as you move forward with the appraisal and your diamond.

  5. A Strong Rapport and Trust in Your Gemologist. You’re trusting them with your diamonds, make sure you trust them fully.

What does an appraisal cost?

An appraisal should cost roughly $50-$150.00 an hour based upon the complexity of the work, the geographic area, and the training and expertise of the appraiser.

Given the uniqueness of each diamond piece, if possible, it’s important to hire an expert who is knowledgeable in the quality of your stone, whether it’s an Old European Diamond, an Antique Diamond, or a Colored Diamond.

We strongly recommend avoiding low rates of service or percentage of value services, for the integrity of your appraisal itself.

Diamocycle offers a few expert valuations for market price, by making an offer. If we choose not to make an offer, we will assign a verbal suggestion and even advise our clients on where else they can sell their piece.

What’s the difference between a diamond appraisal and a diamond grading report?

A diamond appraisal will vary based on its specific purpose, and appraisers sometimes tend to overinflate the value of the diamond for insurance purposes or to confirm and inflate the value of a piece about to be sold. If you already own the piece, please note that appraisals do not always reflect the selling price you might receive in the retail market.

As mentioned, we strongly recommend only using GIA for Diamond Grading. A diamond grading results in a universally accepted certificate or report that insurance companies, diamond merchants, and other professionals in the business can use to determine the value of the diamond. The grading report is conducted by a trained gemologist and rates your diamond on the 4Cs (color, cut, clarity, and carat) of diamonds.

Please note that grading a diamond on the 4Cs can be incredibly subjective, and we urge you, as always, to exercise the utmost caution when having your diamond graded or appraised, and we strongly recommend using a GIA certified professional. Likewise, we encourage you to never purchase a diamond without a GIA certificate or report, as having a report will make selling your diamond or discussing its value far easier in the future.

As always, we, at Diamocycle, are here for you. Feel free to contact us with any other questions you may have about your diamonds or the process. We look forward to supporting you in your diamond appraisal.

As Always, Your Family Jeweller,

Diamocycle

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Inheriting a Diamond: How to Make Decisions in a Time of Grief

In moments of grief and loss, there are often many decisions to be made, and the decision making process can be overwhelming and isolating.

For those of you who are in the midst or may be anticipating a time of difficulty, we offer our sympathies and condolences, and gently offer you this simple framework to help you navigate this tragic moment.

  1. Take Time to Breathe. You are in a moment of transition and change, and we encourage you to take the time you need to process your emotions and your loss. While there are seemingly many decisions ahead, take the time you need to make those decisions with as much clarity and calmness as you can. It can all wait.

  2. Examine the Diamond. Once you’re in a place to make your decision, we recommend taking a moment to examine the piece you’ve inherited.

    If it’s not a piece of jewelry that you envision yourself wearing, either due to fit, aesthetic, or personal style, please know there is no shame in selling a piece of jewelry. In lieu of holding onto an item that you’ll never use, you instead honor the memory of your loved one by using the funds for an aim much more aligned to your goals or dreams, a thing surely your loved one would have wanted for you. If you decide to sell your piece of fine jewelery, know that we, at Diamocycle, would be honored to help you with this, oft tricky transaction.

    If you decide to keep the piece, it’s worth considering if you want to wear the piece as is, pass it on to someone who would appreciate it more, or have it repurposed into a piece of jewelry more matching your tastes.

    Again, as this is a highly personal matter, there is no right choice, simply the choice that you feel would allow you to get the most utility and joy out of the fine jewellery left to you.

    We also recommend reading Starting Again: How to Move Forward after Moments of Monumental Change to further guide your decision making during this extraordinary time.

  3. Find a Trusted Source. Lastly, whether you’re keeping or selling a diamond, you’ll want to make sure your decision making process concludes with putting diamond in the hands of someone you trust.

    If you’re keeping the diamond, we entreat you to make sure it is in a location or setting where it is secure.

    If you’re selling the diamond, you’ll first want to get it appraised by someone you know will not only give you the best value for the diamond, but who also will take the utmost of caution with the diamond. Diamocycle takes the utmost care in making sure your diamond is insured and secured in all steps of the appraisal process, and we’re always happy to answer any questions you may have about Our Process. Feel free to Contact Us at any time.

We’re here for you. Wishing you the calm, clarity, and strength needed for this challenging time.

Diamocycle

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A Diamocycle Framework for Having Hard Conversations

A Diamocycle Framework for Having Hard Conversations

In moments of great change, we’re often confronted with the opportunity to have hard conversations with those we love.

Whether it’s managing an estate, creating connection within a divided family, or explaining new, important concepts to little ones, we, at Diamocycle, take pride in offering our clients and customers the tools and frameworks for creating a life of connection, security, and joy. With that in mind, we’re proud to offer you A Diamocycle Framework for Having Hard Conversations.

While we encourage you to use this framework for a variety of exciting and paradigm-shifting moments, we’re proud to base our framework on our own expertise, to keep our service to you, as always, personal and non-partisan.

A Diamocycle Framework for Having Hard Conversations

The Culet | Know the Point: At the bottom of every diamond and every conversation, is a point, often known as the culet. Before embarking on any conversation – you must know the point of that conversation. What are your goals? What are your motivations? Much like you would know the dimensions of your stone before bringing it to a jeweler, know the ambitions of your conversation before bringing it to the table.

The Pavilion | Set a Foundation: From the culet come the sides of the diamond, known as the pavilion. The pavilion is the hidden foundation of any diamond – what gives it its depth and delight. Similarly, you must set a foundation for your conversation. What research and facts do you want to gather? What are the ground rules that you want to establish? How can you prepare yourself to be both clear and generous in having a conversation? The pavilion of a diamond establishes both its limits and its depth – how can you both set clear boundaries and create space for a faceted, dimensional conversation?

The Girdle | Make an Invitation: The girdle is the moment of encounter between the diamond’s hidden interior (your preparation) and its shiny exterior (the conversation). Likewise, this is the moment where you contact your conversational friend and invite them to a conversation. We encourage you to share your motivation (the culet) and some of the guidelines (the pavilion) of the conversation you’d like to have. Much like each diamond has a different girdle thickness, every invitation might have a different flavor and style. Let there be space for your conversational partner to offer input and their own suggestions on how to make the conversation be truly an equal exchange of ideas. Before having the conversation, make sure that you and your conversation partner are aligned to the same overall point (the culet) of having the conversation.

The Crown | Stay Royal, Embrace the Facets, and Climb Together: The crown is the part of the diamond that contains facets and a stair length to the table. Likewise, this will be the part of your conversation that may be jagged and contain many moments of discussion and disagreement. When you’re in this part of the conversation, we encourage you to channel a royal demeanor (think of the crown!) and listen. Let your conversational partner share, open up, and articulate their point of view. Likewise, much like a diamond, we encourage you to offer facets or vulnerabilities of yourself, which will allow your conversational partner to connect with you while you dive into the depths of the conversation. Lastly, channel the stair-like element of a diamond, and always think of this conversation as a well-directed ascent from culet (the point) to table (the agreement). Keep your cool, respect your boundaries, and let your aligned vision bring you to a smooth conversational ending.

The Table | Arrive to an Agreement and Action: After you’ve dived in and shared vulnerabilities, disagreements, and differences of opinion – while keeping the culet (the point) in mind, we are confident you’ll reach the table, or the smooth resolution of the diamond. As if you’re finishing a meal, we encourage you to admire the hard work and success of your conversation, and articulate what action item might be sparkling forth. Much as we end our meals, eager with a next adventure ahead, we encourage you to finish your conversations both with the satisfaction of a job well done, and a clear vision of what’s next in store.

Conversations, like diamonds themselves, can often seem intimidating and impenetrable. That said, much like one becomes familiar with a favorite jewel, we have faith that you’ll be able and successful in having difficult conversations with your loved ones.

As always, we can’t wait to hear of your successes and as always, remain, your family jeweller.

Diamocycle

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How to Move Forward After Life Changes

Here at Diamocycle, we are deeply invested in your emotional, financial, and physical well-being. Given the constantly changing news, we are proud to continue this series of articles intended to help you weather the current moment.

As communities and economies begin to re-open, we encourage you to take a quick personal audit to help inform your new steps towards a prosperous, sustainable, and secure future.

Physical Audit

As life slowly begins to return back to normal, take a moment to evaluate your physical health and home. What regular routines of maintenance have gone undone? What small home projects or personal health habits might you want to begin to signal the start of a new chapter? What needs mending, tending, or beginning? The toll of the past few months, undoubtedly, have been both physical and psychic. What small habits or steps might you begin with to signal the start of a new, empowered moment?

If you’re curious to start a meditation habit or tackle a decluttering project, we recommend reading Minimalism as Self-Care, a past installment in our self-care series. We’re also curious to hear what else needs doing in your life! As always, feel free to drop us a line.

Financial Audit

It’s highly likely your income and spending patterns have changed during the past few months. If you’ve saved, how might you use the money towards your long-term financial goals? If you’ve ended up dipping into saves (many of us have!), how might you either make up the gap or begin a financial initiative to help you feel financially secure as you and your community start back up?

While there are many budgeting tools available, we also encourage you to use the work from your physical audit to also see if there’s any items in your house that you might wish to declutter or sell. Obviously, we, at Diamocycle, are always here to assist regarding the sale of fine jewelery, but as always, we encourage you to look holistically at your assets. If you’re contemplating whether it’s an appropriate moment to sell a diamond, we suggest our past piece, Should I Sell My Diamond During the COVID-19 Epidemic?, which offers a helpful framework regarding the decision to move a diamond along.

Likewise, we highly recommend reading Creating Financial Security in The New Economy: Generating Income to help you bring health to your financial situation, no matter how difficult it may currently feel, to a place of stability and security.

Emotional Audit

Lastly, and most importantly, we encourage you to take a little time to take care of yourself. How have you denied yourself joy in this past time? How can you take care of yourself to bring more happiness into your home and your community? Whether it’s be letting go of old items, exercising more, or engaging in a new hobby, we strongly encourage you taking some time to nurture yourself and those around you. It’s been an exhausting time. Like you, we can’t wait to return to normal – and we hope that you’re taking a moment to find something that’ll bring joy to your life.

Whether it’s by meditation, doing something fun, or treating yourself – we support you in your quest for joy.

We’re here for you. Here’s to times ahead.

Your Family Jeweler,

Diamocycle

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Minimalism as Self-Care 

At its heart, Diamoycle is deeply invested in improving the quality of our customer’s lives through offering support, security, and excellent customer service, even in the most fraught of times.

Given the current climate, we are excited today to offer you a small feature about Minimalism as Self-Care for these pressing times. We imagine your days, like ours, are filled with even great financial, personal, and emotional concerns. As a result, we’d like to offer you the following tips to help you finish your days with a little more zen than you began.

Minimalism in Time

  1. Breathe: No matter how busy you are, you have to breathe. You must breathe! Even in your most jammed of times, attempt to be still by taking three deep breaths. If you can, take three more. Despite the chaos around us, we encourage you to take moments of stillness.

  2. Meditate: If you have a little more time, we highly suggest meditating. Even if it’s just for a minute or two! The military released a study showing that 15 minutes a day of meditation has a profound impact in the quality life of their service men. That said, even if you can’t get 15 minutes – 5 can do wonders.

    Some great meditation apps with great free functionality are: Calm | Headspace | Insight Timer

  3. Prioritize & Let Go: If silence in time and thought seem to be beyond you, we suggest and recommend that you prioritize the top things you need to get done today and try to let the rest go. Time is finite. How we respond to it will allow us to find space and calm within it. Here’s a great read on prioritizing and finding space again in your time.

Minimalism in Space

  1. Small Tidies: It’s long been shown that your surroundings can have a big impact in your interior life. If you’re feeling stressed or overwhelmed, take a moment to clean, organize, and tidy the world around you and you might feel a little more organized inside as well.

  2. Make Cleaning a Game: In Zen Habits, Leo Babauta talks about “Burst Cleaning,” or cleaning in intense bursts for greater impact. For those of you on home-schooling and work-from-homing, we suggest making cleaning a game, or enlisting the help of your little ones to “organize” or tidy one area or space in a very specific way that they can comprehend. In this way, you’re not only focusing the time and energies of your children, but hopefully, you’re cleaning and simplifying your own home as well.

  3. Kon-Mari & Let Go: Kon-Mari is the current expert on “decluttering” and letting things go if they don’t “spark joy.” While Diamocycle is, of course, the honored recipient for any jewelry pieces that don’t “spark(le) joy”- we encourage you to take a whole home audit and take some time to simplify, declutter, and let go of the objects that you no longer want or use. In this time of need, donating or gifting an item you no longer need to a neighbor might be an amazing way to both simplify your life and create goodwill in yourself and your community.

This is a busy time, full of deep pain, anxiety, and concern. That said, we, at Diamocycle, believe in staying focused on what’s important to us, and using it as a north star to moor us in uncertain times. For us, that’s you, our customer. We know that, plain and simple. And in this moment of confusion, we’d love to offer you a few tips towards minimalism as self-care, to hopefully help you heal, focus, and recharge during these long weeks.

We’re here for you.

Diamocycle

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Creating Financial Security in the New Economy: How to Generate Additional Income

With the continuation of the Coronavirus pandemic, consumers across the nation are faced with a volatile economic outlook. While there is an eventual end to the COVID-19 crisis, the exact timing and the extent of the economic impact still remains unknown. That said, there are steps that we as consumers can take to fortify our own financial picture despite the uncertainties ahead. This week, we’re excited to offer you a financial framework to help you and your family prepare for whatever may lie ahead for our families, our businesses, and our nations.

As we all know, financial security comes from having more money coming in than what’s going out, and creating automated systems and habits to maintain that surplus. This week, we’re honored to begin to explore ways to help you bolster your income in this potentially destabilizing time.

Diversify Your Income: Expand, Hustle, and Innovate

The first way to make sure that your income expands beyond your expenses is to diversify your income streams. This may mean taking on additional work, adding shifts, or starting a side hustle. While all of these are obviously stressful endeavors during this time, as labor patterns and markets shift, we recommend, as possible, examining what other skills, passions, and interests you may have, and how those might possibly monetize to better assist your family financially.

Reach Out: Apply for Assistance

With the passing of the CARES Economic Relief Act, Social Services and Benefits have never been more accessible and available for workers during this difficult time. There is no shame in asking for help. While some may have assistance available to them through educational priviledge or generational wealth, some may not have such advantage or need additional assistance. Our social services exist for just this cause. During this moment of unprecedented change, we encourage you to examine what federal and national assistance you may be eligible for to help you and your family thrive during this unprecedented time.

Minimalize and Essentialize to Create a Positive Cash Flow

At the most basic level, you may need more cash on hand, right now. While social services and side hustles are ways to create sustainable income, they may not be able to create household capital in the time frame that you need. In lieu of turning to credit card debt, we suggest looking to see what you might be able to sell online via a variety of websites that welcome the resale of clothing, household goods, valuables, and jewelry.

While Diamoycle obviously fits in the latter, we encourage you to take your entire household into stock and see how you might be able to take items that you no longer need or use and find a place for them online to generate additional income. While some of these decisions may be difficult, we at Diamocycle know that family comes first and difficult decisions often come with the privilege of caring for your loved ones.

On our end, we promise competitive prices, compassionate customer service, and a process that keeps your valuables protected and insured every step of the way. You’re part of our family and we’re here to care for you. We wish you all the best during this difficult time and will continue to offer you advice that we’ve relied on ourselves during times of difficulty to keep us all strong, safe, and united as this crisis continues.

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How to Decide Whether to Sell Your Diamond During COVID-19?

Without question, these are unprecedented times. At Diamocycle, we remain committed to helping you make the best decision for your family and financial situation. Feel free to check out Diamonds in the Time of Coronavirus for Our Three-Step Plan to help you and your family feel both physically and financially prepared during this period of change and unchartered territories.

At the heart of every big decision is discerning what is best for you and your family. For those deeply impacted by the financial changes caused by Coronavirus, and in need of extra means, it might be appropriate to sell or liquidize assets to help you and your family stay afloat for the several months ahead.

If you have decided to now is the moment to sell a piece of jewelry to support your family, we support you in making what might feel like a large or difficult decision. We’re more than happy to talk on the phone or answer any questions you may have about our evaluation and extraction process.

To further help you make your decision, here are a few key takeaways from our experts:

Stocks vs Assets: Methods for Creating Short Term Cash

Compared to the plummeting price of stocks and the likely continuation of the Bear market, diamond prices and commodities have stayed relatively strong. If you need to generate funds for the short term, we would strongly recommend selling assets over stocks. The price you are to receive for your assets like fine jewellery will be a truer reflection of the value of the item, while the price for your depreciated stocks will be far lower than what you might receive once the COVID-19 crisis has passed.

The Historical Tendencies of Diamond Prices

Using data from the 2008 market, we’ve actually seen a lack of correlation, or perhaps an inverse correlation, of diamond prices to the market as a whole. Which is to say, as the market drops, diamond prices tend to hold steady or even increase, as people turn from more volatile investments to the sale of physical assets such as diamonds and gold, which throughout time have traditionally maintained their value. If you need to sell your diamond, data from the 2008 recession says you will receive a standard, or perhaps slightly higher price, as diamond value tends to hold strong against the volatility of the stock market.

The Retail Crisis and Online Marketing in a Time of Social Distancing

With brick and mortar stores closing during this time of staying at home, we estimate that many retail stores will not be able to offer competitive prices, services, or safe environments for their clientele, as the health of their staff and the financial health of their own business is in jeopardy. Likewise, given the changing economic times, we estimate that local appetite for luxury jewelry may be low as families re-evaluate their financial situations.

For those looking to receive the true value of their item in a sale, we recommend turning to online and nationwide retailers who will have a stronger financial picture, a longer horizon for their financial survival, and will be able to offer a competitive market value for your item, given their access to markets beyond their immediate community. Beyond that, for your own health, we strongly recommend turning online for your transaction to keep you and your family out of danger of transmission by conducting your business remotely.

In a time of social distancing and “sheltering-in-place,” Diamocycle is more than happy to help you receive a free quote on your item without putting yourself in a risky position of leaving your home or letting you sell your item for less than it’s worth. On our end, we’re taking every precaution necessary to make sure our shipping supplies and processes are sterile and contamination-free and we are likewise practicing physical distancing in our workplace to protect our team.

As always, we’re here for you. Feel free to call today with any questions you may have. While we’re in uncertain times, we’re here to do all we can to make the transition a little smoother and these times a little less uncertain.

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How to Think About Diamonds During a Pandemic

In moments of great uncertainty, we often wonder about the security of our assets and the financial health of our households. As part of a lineage of jewelers who have been in business since The Civil War, we at Diamocycle know that times of turmoil can create much emotional instability and financial insecurity. With that in mind, we offer you the following framework to help you assess the financial health of your family and the best steps to take to ensure a successful few months during this unprecedented time.

Step One: Assess Your Financial Situation

Many companies and workers are beginning to work from home. If this is a luxury that is afforded to you, it is likely that your business and your livelihood will be able to continue uninterrupted during this global epidemic. If you are unable to continue earning during this period of public health risk, figuring out how to financially cover you and your family is of the utmost importance.

Step Two: Make a Plan

Given that COVID-19 will spread at an exponential rate, preparation to protect you and your loved ones is essential. Stocking up on a month’s supply of toiletries, medicines, and groceries is ideal. Continuing good hygiene habits such as washing your hands and not touching your face is ideal, as is beginning to take precautions around social distancing.

If your financial picture is not in a place where you feel secure for a several weeks of uncertainty, it is worthwhile to examine how you can support your family and supplement your income, such that you can weather out this strange period. Applying to federal emergency funds, assessing your potential assets, and beginning to create local support networks are all ways to create a new layer of social stability during The Coronavirus Epidemic.

Understanding the uncertainty of the moment, we are more than happy to offer a contingency quote to you regarding your piece, such that if, need be, you would be able to use your assets to better support your family and those around you.

We suggest understanding at what point it makes best sense for you and your family to stock up, access reserve funds, or ask for help for those around you, and until you reach that point, we strongly suggest practicing good hygiene, staying calm, and digitally reaching out to support those around you.

Step Three: Act

Until the conditions outlined in your plan have been passed, stay calm, pleasant and supportive of those around you. Pay attention to changing conditions. As things change, you will more fully understand the situation and when to proceed with your Coronavirus plan. Until your area has reached a noteworthy level of infection, we advocate practicing social distancing, and beginning to create the habits for good hygiene and a low risk of contamination. While we hope your area remains clear of Coronavirus, it never hurts to have a plan.

We at Diamocycle think of our customers as family. If there’s ever anything we can do to help you assess your financial situation, the need for a sale, or offer support in times of uncertainty, we’re more than happy to help.

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