Please Read an ARTICLE on chipped/fractured diamonds: The value of a diamond declines dramatically when it is chipped, regardless of the size or location of the chip. When an insurance company pays to replace a diamond that has been chipped, the damaged diamond becomes the property of the insurance company. In an effort to reduce their losses, many insurance companies frequently allow jewelry stores and cutting houses to purchase their “insurance salvage” for pennies on the dollar. It is not uncommon to find insurance salvage for sale in retail jewelry stores, however it is usually not represented as such. Salvage stones that re-enter the market as “bargains” are usually re-set so that the chip is hidden under a prong or bezel (gold framework). When purchasing a diamond, carefully view the diamond under 10x magnification (or higher) from all angles and pay particular attention to the facets along the girdle edge of the stone. If you discover that the diamond you are considering is chipped, it does not necessarily mean that it is insurance salvage. However, it is reasonable to assume that the jeweler paid much less for it than he would have for a diamond of comparable quality that was not damaged. In addition, to inspecting diamonds for chips you should look for characteristics that could weaken the stone and cause it to chip later. It is advisable to avoid purchasing a diamond with cracks that extend close to the stone’s surface because it could make the diamond more susceptible to damage.
Posted on: Mon, 19 Jan 2015 21:10:38 +0000
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