Thursday, March 4, 2010
How to Save Real Money when Buying a Diamond. 'Buying Shy'
Looking to save some money on the cost of that diamond? A great money-saving strategy is to buy your diamond just under certain key weight thresholds also known as 'Buying Shy'. For example, if you want a 1 ct diamond, you could buy a .92 ct diamond and save a few hundred to more than $1,000 (depending on the color and clarity).
In the 'Rapaport Diamond Report' (also know as the 'Rap Price') a .92 ct Round (6.3 mm), 'G' color, 'VS2' clarity is listed as $5,700 per carat or $5,244 for the diamond (Carat Weight x Per-Carat Cost = Total Cost of the Stone) and a 1 ct Round (6.6 mm), 'G' color, 'VS2' clarity is listed as $7,200 per carat or $7,200 for the diamond - the difference is $1,956. You would save almost $2,000 on buying a diamond with a very minimal difference in appearance i.e., the thickness of a business card! Below are a few key thresholds:
.50 ct look for .46 - .49
1.0 ct look for .90 - .96
1.5 ct look for 1.4 - 1.45
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