Mistakes are common to all of us. While some are costly, others not so much. But, when we are talking about buying diamonds, one little misstep can burn a hole in your pocket with nothing in your hand worth the splurge. First of all, congratulations for whatever occasion you are purchasing a diamond for. The enormous collection in the market can get your head swimming with confusion, and if you do not take a rein check at the right point, you are going to run all sorts of risks that you can and cannot afford. So, here are some common mistakes that buyers before you have made that they later knew were nothing short of egregious, financially speaking.
Not Enough Research
The sight of a diamond may instantly make your heart soar, but do not be led by that when you are in for a profitable purchase. There is no excuse to not research on your investment cogently. Doing due diligence will tell you all about wholesale prices of loose diamonds, cuts of diamonds that make ornaments cheaper, comparative prices in different stores and such miniscule details that marketers do their best to keep from public eyes.
What about the Intangibles?
What about them? Buyers determinedly focus on parameters like the 4Cs, certifications and similar apparent bells and whistles that they miss out on the underlying aspects which are equally imperative to making a good purchase, if not more. Sometimes the certificates handed out with the weight of reassurance are inauthentic and that’s not for a common person to detect. So, points like choosing a legitimately certified seller and building a lasting relationship of good faith come before the guarantees and Cs.
The Thumb Rule of Three Months’ Salary
The ground rule of a purchase is to respect and stay within the margin of your means. A diamond worth three months’ of your salary sounds like a fair and manageable investment. Do not push the red tapes you have set for the purpose just because a gorgeous ring had you rethinking about the budget allocation.
There Is More than the Colorless Variety to Hypnotize You
And last of all, do not join the rest of the crowd in their single-minded obsession on colorless diamonds. Anything lesser than D- Flawless is equally swoon-worthy. The differences are unperceivable to the eyes of a commoner. Even experts need a loupe to be able to tell apart a D-flawless and a lesser grade stone.