Don’t Be Tempted By Free Diamond Appraisals – It’s A Scam!

indianapolis-diamond-buyer-diamond-scams-in-industryThere are some diamond scams out there that most people are aware of and they are easy to spot. Some scams are not so apparent. Not to worry, we are your local Indianapolis diamond buyers and we are here to help you avoid falling victim. To start with, if anyone offers you a free diamond appraisal, say; “Thanks but no thanks!” and leave immediately.

Here’s why:

Official diamond appraisals take time and are conducted by experts with years of training and experience. Subsequently, a legitimate appraisal will cost money. Be skeptical of anyone that tells you otherwise. But this is just the tip of the iceberg and there is a lot that you should be aware of when it comes to selling your diamonds.

The Difference Between An Evaluation And An Appraisal

Official Appraisals

Diamond Appraisals are conducted for a certain monetary purpose like insurance or taxes, and the education process to become a certified appraiser can take up to seven years. Professional appraisers use the initials G.G. (Graduate Gemologist) or A.A.A. ( American Society of Appraisers) after their names. There are different levels within the industry and the highest level that an appraiser can achieve is that of the Master Gemologist Appraiser.

To make a point, there are less than 50 Master Gemologist Appraisers located in the United States. So, with such rigorous standards, how could an official diamond appraisal really be free?

Free Diamond Evaluations – Not A Scam

When it comes to the diamond selling process, free diamond evaluations are legitimate. In this situation, diamond experts will conduct a more informal inspection of a diamond and provide an estimated value based on the current market trends.

Additional Diamond Scams To Watch Out For – How To Spot A Fake Lab Report

indianapolis-diamond-buyer-scams-in-diamond-apprasialsSome lab reports may appear to be official, but at a closer glance, you may discover that someone is trying to take advantage of you. Many smaller labs may, in fact, be legitimate while others may play around with the truth when it comes to the actual value of your diamond.

Here’s what to look for:
Ok“Gemological Institute of America”
Not Ok – “Gemological Institutions of America”

Ok – “American Gemological Society”
Not Ok – “American Gemological Services”

The differences here are subtle, but if you are aware of this practice, you can save yourself a huge headache.

The bottom line is, there are many terms in the diamond industry that are often times misused. No matter what, diamonds are valued based on the 4C’s of diamond grading. But when it comes to anything that is labeled “free” it is important that you do your homework and make your decisions carefully.

Get in touch with GSA Diamonds to learn more!