- How do I take delivery of my colored diamond?
- Does PG Services have a return policy?
- What are the main reasons for the upward movement of prices in the colored diamond market over the last thirty years?
- How would PG Services recommend I handle storage for privacy and discretion?
- Why are grading and certification so important in acquiring colored diamonds?
- How are coloured diamonds valued?
- How do connoisseurs acquire pieces in the colored diamond market?
- How do I re-market my colored diamond holdings?
Colored diamonds are shipped all over the world using major diamond couriers, such as Brinks and Malca Amit, to any destination. Many countries do not have a customs tax on loose diamonds, although some countries do. PG Services handles the entire shipping process and makes all the necessary arrangements for shipping and insurance of your purchase.
Although most shipments are completed within two weeks, please allow up to 30 days to ensure you receive your stone. All original certificates are sent via courier.
All orders from PG Services may be returned within thirty days of accepting delivery for a full refund. If you are not one hundred percent satisfied, PG Services will send you a refund request form to be filled out and signed. Once we receive the completed request form, we will refund the purchase price. You can contact your PG Services advisor for a refund request form.
All returns must have the original copy of the matching and/or identifying certificate(s). Returns not accompanied by all of their original documentation will not be honored. All diamonds must be in original condition without having been altered in any way. The diamond must not have been worn, mounted, or altered in any way.
PG Services will refund the purchase price of the diamond returned within the time limit and manner specified above.
The coloured diamond market has developed from a specialty area of interest to one of the most important collectable markets in the world. Connoisseurs are attracted to their durability and beauty along with the inherent rarity of coloured diamonds. Buyers are also interested in coloured diamonds because over the last thirty five years, prices have gone up approximately 100 % every seven to ten years and they have been shown to hold their value during recessions and economic downturns.
Price movements in the coloured diamond market are based on supply and demand. It has been reported that for every ten thousand carats of diamond mined, only one carat will be a fancy coloured diamond. This extreme rarity coupled with the gradual, consistent increases in demand are the main factors behind the long-term price rises. In addition, major sources of supply for coloured diamonds are expected to decrease over the next decade at a time when demand for coloured diamonds continues to rise.
Most of our clients utilize safety deposit boxes for storage or bonded storage facilities for their collection of stones. Any valuable items should be stored someplace safe for security reasons.
Colored diamond grading and certification are important aspects of any responsible purchase. Any goods acquired through the international marketplace must meet three main requirements:
- That the diamond is a natural colored diamond and not irradiated or enhanced in any way.
- The specifications of the color and the color modifiers.
- That the diamond is graded under these criteria by an internationally recognized institution.
Internationally recognized labs possess the most advanced equipment available to determine whether or not a diamond has been altered in any way, making it impossible for an irradiated diamond to pass through the certification and grading process. Furthermore, equipment for measuring color saturation has risen to the level where it is possible to determine scientifically just how much colour any particular stone has.
The main institutions for grading and certification used by PG Services are the Diamond High Council in Antwerp, Belgium and the Gemological Institute of America in New York and California. These two institutions are considered the standard for grading and certification in the industry. In addition, PG Services uses exclusive reports prepared by Stephen Hofer documenting unique aspects of specific colored diamonds, such as color composition or measurement of color. These reports are designed to increase the commercial awareness of particular colored diamonds and ultimately enhance the marketability of client holdings.
Like a Rembrandt or a Monet, some colored diamonds (bluish Green, purplish Red) are essentially one-of-a-kind pieces and are impossible to put a market value on. These pieces are primarily valued based on what a buyer is willing to pay for it. For other pieces, such as small pinks, yellows and cognacs, prices are determined by the available supply and the anticipated demand. Because each colored diamond is an individual work of art, it is difficult to quantify a static price for colored diamond types. PG Services uses general price guidelines based on the rarity of the color and the laboratory grade of the stone and then the value of each stone will be determined by the color composition of the stone, the strength of the color saturation, the quality of the cut and the size of the stone relative to its rarity. These prices are based on approximate asking prices through the major diamond districts around the world. Clarity in colored diamonds is considered a secondary issue because most colored diamonds are slightly included but we ideally want to look for eye clean stones. All of these factors are thoroughly examined to determine an accurate price range.
One option of acquiring a colored diamond is through a retail jeweler, although potential buyers are paying full retail price and the selection is normally limited to the inventory available. However, retailers are increasingly carrying a wider selection of colored diamonds in a multitude of colors. If you are planning on acquiring a piece at one of the major auctions, you are required to provide information of financial suitability in order to enter into the bidding process. Payment is normally facilitated by either a cashier's cheque or a bank wire transfer. Although you may be able to bid on a number of different stones, auctions are a sellers' market, and bargains can be difficult to find. Furthermore, bidders are generally obliged to provide more financial data than they would like to, and there is little discretion or confidentiality. A third method is through a small group of international specialty dealers. Although most specialty dealers only work with a select client base, they are often in possession of a selection of rare and special colored diamonds rarely seen at the retail level and at a more reasonable price than at an auction. Specialty dealers are intimately in touch with both auctions and the retail side of the market and therefore can be a good advisor because of their market knowledge.
There are a number of avenues available in the event that a collector would like to re-market their colored diamond position. Retail jewelers occasionally buy colored diamonds and more and more retailers are carrying a selection of colored diamonds. Retailers continue to develop their client base for colored diamonds but it must be noted that they have very high overhead so they must charge more for their diamonds. Consequently, they tend to offer lower prices than other avenues of sale. Auction houses generally bring the highest per carat prices, although stones are often held for months before the sale takes place. In the auction market patience is essential, for positioning your colored diamonds at the right time and in the correct geographic market can mean the difference between thousands of dollars. However, auctions tend to charge higher commissions and they have certain requirements as to the pieces they offer. Individuals who sell at auction should consider having their colored diamond mounted to enhance the potential for sale as most of the pieces available at auction are classified as jewelry.
Specialty dealers have a reputation for selling at fair market value, and because of their diverse client base, they can usually sell on a client's behalf in a relatively short period of time. If you are looking to tap into bidding of stones, an auction is better suited to your needs, whereas a specialty dealer has the client base and the marketing network to liquidate your position in a more timely fashion. In either case, buyers should recognize that colored diamonds are very long-term, with a time horizon of at least ten years. Like land or fine art, it is suggested that you allow yourself time to find the right buyer for your stone as each piece is unique.