As an entrepreneur and/or business owner – wasting money and spending frivolously is painful.
As a friend, significant other, parent, etc. – buying gifts is a necessity.
Unfortunately, gifts often equal frivolous spending.
So, how can the two be reconciled? How do you give your significant other a pretty present and not hurt on the inside over wasted money?
Answer: Buy gifts that double as investments.
The most common way of doing so is with jewelry – diamond jewelry to be exact. Throughout the years, diamonds have proven to be a worthwhile and lucrative investment. Which makes them a perfect solution to our conundrum here, because diamonds can also be worn as beautiful jewelry pieces.
For this kind of investment, colored diamonds are typically the preferred option.
Colored diamonds, with brilliant hues such as yellow, pink, blue, and green, are much rarer than colorless diamonds and therefore make the most sense monetarily and fashionably.
Additionally, colored diamonds have a high likelihood of appreciating over time, no matter the color, due to their great rarity. While the initial investment into colored diamonds requires a very large sum of money, trading or selling diamonds can make all the difference and plus some.
Now, if you’re considering taking the plunge into buying diamonds as a gift and investment, you may be wondering where to start and what to do. Here are some of our best tips:
Before you buy, learn about the basics. If you don’t know much about diamonds, start by educating yourself about the diamond industry. The “4 Cs” – cut, clarity, color, and carat - are known as the primary factors that influence the price of a diamond.
However, when it comes to colored diamonds, the main factor is the color itself, regardless of it’s cut, clarity, or carat. Obviously, a colored diamond with other outstanding features will sell for more, but the diamond’s hue will be most important.
The initial amount required to invest will be very high, but everyone has a limit – set a budget for yourself after researching what colored diamonds sell for. Shop around to compare prices and find the best value.
It’s important to note that when it comes to any diamond purchase, if you want to make the most money out of a future sale, try to buy diamonds directly from a wholesale seller. Diamonds from a retailer are sold at such a markup that they automatically depreciate as soon as they leave the store, colored diamonds included.
Since this is not just a mere investment, but also a gift, you’ll want to make sure you pick something that looks nice and is in style. You can do so either by buying a gift with various and different color diamonds. Or, by choosing one special color -- perhaps the color of the year, or one of the season’s top color choices.
Think of this as an art investment.
Whenever you buy diamonds, you always want to obtain a GIA grading report. The Gemological Institute of America (GIA) is one of the most well-known diamond certifiers out there and their certification acts as the ultimate seal of authenticity. Whether you’re buying, giving, or selling colored diamonds, it’s essential to have the proper certification.
Before you invest in colored diamonds, there are a few things to take into consideration.
Even if you feel you are putting your money to a great use, there’s no way to ensure you are. And as an entrepreneur and business leader, sometimes you just have to live with the risk.
Additionally, you will most definitely need to purchase insurance for the diamond. This is an extra cost to take into consideration.
The best part about diamond investments, is that when you or the gift receiver decide to trade up, you don’t have to wait years for the market price to be just right.
When selling a diamond investment, the timing is up to you. The market for diamonds is not as volatile as it is for gold and silver, and that makes it easy to sell diamonds whenever you’re ready.
For more information about the value of your diamond, set up an appointment with Luriya today! Visit https://www.luriya.com/ for more information.