The Real Scoop on Buying Diamonds

Has Selling Your Gold Lost its Luster?

2010-07-21T18:15:00.003-04:00

The last 3 years has shown crazy growth in the consumer gold re-sale market, when gold hit $1000/ounce people went nuts selling their gold and other precious metals. While the buzz surrounding the high gold prices has subsided, the price of the metal has continued to rise. In fact, at the time publication time of this article, gold has hit another milestone $1200/ounce. This opens the door for even further profit to be made from selling your unwanted valuables.

I don't see the metal reaching heights much more than $1200, the economy is starting to turn around and eventually you may see investors become more enthusiastic about other investments. Most people have always considered Treasurey Bills the safest investment in the world, however the current government spending spree has killed the US dollar. So who knows maybe gold still does have legs but I personally don't see it going much further. With that being said, I think now is the time to clear out the valuables that are collecting dust and take advantage of the high prices.

Where do I sell My Old Gold?

There are 3 different ways to sell your old or unwanted jewelry and gold items, pawn shops, TV Cash For Gold Businesses, and traditional jewelry stores. From what I've seen and experienced, the best way to sell your gold is to take it to your local trusted jeweler. Pawn shops have always been notoriously seedy places, usually owned by some character that you wouldn't want to meet in a dark alley. I just don't think these are places that most people want to spent any amount of time in, you'll also get less from these types of businesses. Cash For Gold TV guys are the worst place to sell your gold, all the studies that I have reviewed have demonstrated that they are the lowest paying outlets on the planet. What's left is the traditional jewelry store and I think you'll find that this really is the best choice for selling your items. The benefit of going to a jewelry store is that you'll be working with someone that has many years experience appraising jewelry and they'll have the skills needed to assess your valuables. In most cases, gold buying is only a sideline business for jewelers and they can afford to make less profit when reselling your items. This will give you assurances and peace of mind that you've received the most for your jewelry.

What Items are Jewelers Looking For?

Jewelers are normally looking for any item made in 10k gold, 14k gold, 18k gold, and platinum. Condition doesn't matter, it could be broken or damaged and you'll still get the full value of the gold. I will caution you not to make assumptions that will disappoint you. One assumption is that an item that is in "new condition" or has never been worn should bring more money than an older or used item. Truth be known, it doesn't matter what condition the item is in because the jeweler will most likely melt the item.

Items that are of Interest

• Pocket watches
• Gold wrist watches
• Gold chains and necklaces
• Loose diamonds
• Engagement rings
• Wedding Rings
• Silverware/Flatware
• Gold coins
• Silver coins
• Rolex watches
• Tiffany & Co items

Choosing a Jeweler for Custom Jewelry Design

2010-07-12T11:44:00.001-04:00

Like any other occupation or trade there are good jewelry craftsmen and there are bad ones. It is important to pre-screen your jeweler to determine if he/she is skilled at making custom designed jewelry. Ask to see their portfolio and examine their designs to determine if the flair they have for jewelry design matches your style requirements. Also, pay close attention to their communication and interpretation skills because much can get lost in the translation of your ideas if you're not careful. Once the jewelry is made its too late to make changes and the typical jeweler will not re-make it again without added fees.

At this point higher qualified and better skilled custom jewelry designers have moved to using 3D-CAD to create their designs. If you feel 2 jewelers are equally matched in aptitude and skills then you should choose the one that is using 3D-CAD design. You'll pay a little more to have your jewelry created in 3D-CAD but the final results will be amazing. The jewelry will look 1000% better than if it were hand carved and it will last much longer because of the precision of the jewelry model.

Verragio ring style number INS-7023

2010-04-24T18:14:00.000-04:00

Verragio ring style number INS-7023 available in white gold, palladium and platinum. This gorgeous ring is available at Rokstok.com with special package pricing. Call 1-888-296-4890 to get an instant price quote.

2010-04-21T23:10:00.001-04:00

Recently, reports have surfaced that indicate that diamonds being sold are being supplied with counterfeit grading lab reports. Work with trusted sources only

Split Shank Engagement Ring

2010-04-15T22:19:00.005-04:00

Split shank engagement ring made in 14k white gold and set with round diamonds. Can be ordered at www.andrewsjewelers.com

Vintage 3 Stone Engagement Ring

2010-04-15T21:53:00.003-04:00

This ring is a new style from Rego,its made in 14k white gold and has .60ct twt round diamonds. You can purchase this ring from www.andrewsjewelers.com or www.rokstok.com

Tacori Engagement Ring

2010-04-15T21:46:00.004-04:00

This Tacori ring is made in platinum and set with diamonds, it can be made in 18k white gold. Rokstok.com is an authorized Tacori retailer and can be reached at 1-888-296-4890.

GIA vs. EGL - The Real Truth about Diamonds Part 2

2010-04-15T14:36:00.002-04:00

Recently, I’ve been getting a lot of responses and inquiries about the article that I wrote “GIA vs. EGL Certification – The Real Truth about Diamonds”. This article explored the many concerns that people have about which lab is better or which is more reputable. Not too long ago a women named Kim contacted me about a diamond she that we was considering, she loved it but she was worried that it wasn’t certified by GIA.

Diamonds are priced using a net cost basis, meaning the supplier is going to sell his/her diamonds to the internet retailer or retail jeweler based on what he/she has paid for it and then adds a markup for the desired profit. The selling price for a diamond will not change based on the certification lab or the quality grade, it changes based on what the wholesaler has paid and then what the retailer adds as profit. Values for diamonds are almost always determined the moment a diamond is cut and polished - before the diamond is even sent to a lab. At this point it doesn't matter what EGL or GIA says about the diamond or how they grade it, the supplier already paid for the diamond and knows his cost. The markup will be the markup and that's the end of it.

So what's my point? Ok, let's look at the following example:

I purchase a diamond from my supplier and it hasn't been graded yet, in my head and based on my experience I think its an SI1-G. For our example I have purchased a 1.00ct round and I paid $3000 for the diamond. I would like to make a profit of 20% on my investment so I'm going to sell it for $3600. I send the diamond to GIA for certification and grading, it returns with an SI2-G quality grade. I then send the same diamond to EGL for certification and grading, it comes back an SI1-F. The million dollar question is which grading report is correct and how much will the diamond be sold for???????

The answers:

Who cares!!!!!!
-and-
$3600

The value of the diamond doesn't change because the diamond hasn't changed, its still the same diamond. I won't price it any differently because I already know what I paid for the diamond and what I need to sell it for. I won't sell it for more because it was graded SI1-F by EGL and I won't sell it for less because GIA graded it SI2-G. In the end, diamond grading isn't an exact science and it gets you 90% of the way to making a decision. You really should rely on a diamond expert to review your purchase and act as a confidant when you select a diamond. By the way, a diamond's beauty isn't really affected that much by going 1 or 2 quality grades in either direction which is about as accurate and consistent as a grader can get. It's tough to say that any lab is 100% accurate all the time because the entire process is built on an imperfect grading system! All diamonds are certified and graded based on an "opinion", a machine doesn't spit out the grades - its all still done by humans then an opinion is formed. What you really want to know is that you're not getting a K colored diamond when you think you were getting an F,as an example.

Grading labs will help you avoid "larger discrepancies" that would cause you harm, but you still need to rely on guidance from professional jewelers. Now to Kim’s question...If she purchases an EGL diamond and it happens to be 1 grade off what does it matter, it’s still thousands less than the GIA diamond??!!!

Bottom line is that most people put way too much stock in the grading process and what grading labs say, it’s a very flawed system. I remember a time when grading labs weren't even used and when people actually trusted their jeweler's opinion and cared what the diamond looked like, not what was written on a piece of paper by someone they've never met.

If you want to compare GIA and EGL diamonds you can go to www.rokstok.com

You can call me anytime at 1-888-296-4890 and I will be happy to answer any questions that you have.

Andy Moquin

2010-04-04T10:27:00.001-04:00

People ask me all the time to "knockoff" jewelry designers like Tacori, Tiffany, and Verragio. Keep in mind that this stealing plain and simple, don't do it.

2010-03-23T08:52:00.001-04:00

A new jewelry website just launched www.jewelryeducator.com there seems to be a ton of useful information that can be found there about diamonds and rings.

2010-03-23T08:38:00.001-04:00

Rokstok.com has announced a new site-wide redesign that will offer its customers 3D-Video of all its products. They say that this help conversion rates.

2010-03-23T08:35:00.002-04:00

Jared Jewelers has recently upgraded its website, it appears that James Allen Jewelers has sold them their technology platform. It all looks the same.

2010-03-22T22:11:00.001-04:00

If you're on the fence over whether or not to sell your old gold, now is the time - gold just hit $1125/ounce. www.rokstok.com pays instant cash for you gold.

2010-03-21T11:04:00.001-04:00

Remember to have your engagement ring checked for prong replacement at the 7-10 year mark. Worn everyday, prongs only last this length of time.

2010-03-20T17:44:00.001-04:00

Always drop down 1/2 a finger size when getting fitted for titanium wedding rings. They always run bigger than you expect and they can't be sized once made.

2010-03-20T12:32:00.001-04:00

Bridal season is well under way and lots of new wedding rings have been designed and are now available at www.rokstok.com, including Celtic Rings and Cobalt.

2010-03-18T22:11:00.001-04:00

Look for Verragio's new rings to appear on www.rokstok.com very soon.

2010-03-18T22:10:00.001-04:00

I just met with Barry Verragio, the owner and lead designer for Verragio. We just updated our product line with their new engagement ring collection.

Outrage Over CEO Pay

2009-03-17T10:09:00.002-04:00

Recently, we've seen a huge public outcry over the pay to CEO's of large companies like financial institutions, automakers, and insurance companies. I've heard people make comments like scoundrels, thieves, rats, etc. I'll tell you what's scary about this type of behavior, the people making these comments are duped in to believing that they should say things like this. In reality they don't even know what they're talking about. The American public for the most part is really dumb, fooled, and uninformed. They only believe what the leftist media tells them to believe, the "dangerous people" as I call them. People like Bill Maher, Michael Moore, Keith Olbermann, and the rest of the socialist cronies have convinced the American people that success is evil. Unless of course you're Bill Maher, Michael Moore, and Keith Olbermann - then its OK to make money!

$20,000,000 to Play Children's Games?

So lets drill down in to this subject a little bit and get to the real skinny of it. Last year Steve Jobs the head of Apple, made about $20,000,000 in total income and compensation. Michael Vick made $20,000,000 his last year before going away to prison. Now lets think about this for a second, Michael Vick vs. Steve Jobs - which of the two has done more for society? Which one has created hundreds of millions of dollars for his shareholders? Which one has helped advance the quality of life for millions of people via new computer technologies? Which one has helped advanced the careers of thousands of employees? Its a ridiculous comparison when you think about it, isn't it? Michael Vick can barely form a sentence, I bet he can't even tie his shoelaces. Yet the American public feels that its OK for a sports figure to make $20,000,000 to play children's games. I can throw a football, maybe not as well as Michael Vick but I can still throw a football. I can assure you that I can't run Apple at all, good or bad!

Who Will Run America, Michael Vick!?

So America wants to limit the salaries of the CEO's running companies that receive bailout money, I find this infuriating and outrageous! Think about it for a second, what if you were asked to do the same job you've always done for half the money? Oh let me guess, that's different their rich right? Maybe we should take all the money and riches from America's CEO's and throw them in prison. How dare those bastards make all that money! People wake up who do you think runs America, our politicians? Without the capitalist American spirit nothing would get done in this country. Capitalism is the force behind growth, job creations, human advancement and much more. Without the hope for gain or compensation for a job well done our spirit can become squelched. Why should we think its fine for a professional athlete to make $20,000,000 per year to work one day a week? Wake up America!

New York State Pursues Luxury Tax on Jewelry Purchases

2009-02-27T09:29:00.004-05:00

A new bill has been proposed in the New York State Senate that would impose a luxury tax of 5% on jewelry purchases. I find this absolutely ridiculous and it demonstrates how New York State’s politicians continue to ruin that State. Most counties in NYS have a current sales tax amount in the area of 9% and an additional tax of 5% would make jewelry purchasers liable for 14%. Imagine a young couple trying to purchase an engagement ring for $5000 having to pay $700 in taxes, how absurd is that?!

The Math Doesn’t Add Up

Wouldn’t you simply purchase your engagement ring on the internet where you wouldn’t have to pay any sales tax at all? Any person on the edge or indecisive about the viability of purchasing online would certainly have cause to make the leap. That said, the 5% NYS thinks it would gain is a pitons compared to the 9% it'll lose to the internet transactions. Another competitor would be the neighboring states that don’t have these burdensome taxes. In the end it could mean fewer taxes, certainly not what New York State legislators had in mind.

Socialism in Disguise

There’s been a lot of chatter about socialism, the threat it has on capitalism, and the growing size of government. Some say that it’s not happening and that it’s all an illusion in the minds of conservatives. I say that the liberals are the ones that can’t see straight, open your eyes to what’s happening. There’s a trend on local, state, and federal governmental levels to keep spending. Here’s a great idea…..why not spend as much time creating new tax bills as you do cutting spending and working on your budgets. The attack has clearly been on the “Rich”, you know the “Bastards” of our society! How dare those bastard Rich people have that money?! How dare they spend time in school learning their craft? How dare they exercise creative skills? How dare they create products and services to better our society? Let’s tax those bastards! I read a report recently that said that the taxes on the “Rich” ($250,000 and higher) are going to be raised to 42%. In addition, itemized deductions are going to be limited and many will no longer be available. When you factor in the deductions that aren’t available any more, the tax rate will be more like 45% while much of the country is paying 28%. Here’s a novel idea….why don’t we raise taxes on everybody?! We all live in the United States don’t we? Shouldn’t we all pay our part while enjoying the benefits?

Get Your Head Out of Your Ass New York

To legislators in New York State I say…”Get your freaking heads out of your asses!” For Pete’s sake, once and for all do something that makes sense. Try to make the numbers at least add up, actually read your spending bills, lower your spending. Smart economics is taking in more than you spend. You see, it’s not that complicated! Simply spend less on social programs, overpaid state employee benefits, and wasteful spending. We’re in a capitalistic and democratic society, at least the last time I checked we were. Isn’t that why millions of immigrants flocked to the United States in the first place? I thought it was because they had free reign to exercise their creative talents and work ethic while in pursuit of the American dream.

Rings

Custom Jewelry – Don’t Steal the Hard Work of Others

2009-02-16T23:41:00.001-05:00

Many customers approach us with designs from competitors or from nationally known jewelry designers that they want replicated or knocked off. They want us to steal the ideas and work of another jewelry designer while saving them money. The word steal is the correct word to use in this instance because that’s exactly what they want us to do. It may sound harsh to the consumer that’s unfamiliar with copyright laws but you can’t take another man’s work and call it your own. You can’t take another jewelry designers ideas or hard work and profit from it. It’s against the law and morally corrupt!

Put Yourself in the Designer’s Shoes

Let’s say that you had a great idea for a book and spent years writing about it to finally complete the novel you’ve always dreamed about. After finalizing the book you come to know that someone took your work and had it published in their name, profiting from your efforts. You would be really upset, right? Of course you would be, and you would have cause for a very lucrative lawsuit. So with that being said, why would stealing someone’s jewelry design ideas be any different than stealing your book ideas? It isn’t and you shouldn’t do it! A jewelry design comes about from many hours of remuneration and planning over specific details that make the engagement ring, wedding ring, necklace, or whatever special. All of this doesn’t happen overnight and certainly there are years of practice and training that help the custom jewelry designer get to the point of being able to make jewelry.

But Everybody’s Doing It

You’ll find some jewelers that’ll never pose the question or won’t hesitate to knock-off a design from another jewelry maker. My best advice to you is to think about the type of person that you’ll be doing business with. If they are willing to take something from someone else why wouldn’t they do the same to you? What if this person is forced to make an ethical decision about their business dealings with you? After all, you must trust them with your hard-earned money in an area that you’re not an expert in. How do you know that you’ll get what you paid for? Well, you’re chances certainly have dropped a little when dealing with someone that has a lack of personal ethics.

Take the High Road

I don’t mean to preach and I’m not the holy roller kind but I do believe in Karma and the positive and negative affects it can have on your life. Taking the high road in all possible situations is always the best decision to make. Stealing someone’s work is not good Karma. By the way, just because the jeweler is making the jewelry for you doesn’t mean you’re not at fault. If you pay someone to make jewelry that is a complete rip-off of someone else’s work, you’re a thief too! Technically speaking you could be forced to relinquish the very jewelry you’ve just paid for if a designer found out that you paid someone to take their ideas. A jeweler that stands on his own merits and encourages you to work together to make your own one-of-kind custom jewelry design shows integrity. He/she demonstrates that money is not the main motivator for them. It could be that they simply enjoy their work and want to do a good job for you. In the end you’ll probably be in better hands if you take the high road.

Jewelry and Emotions

2008-12-02T17:23:00.003-05:00

Everyone has heard that GOLD has reached an all time high in the past year. So in the jewelry industry most jewelry stores have decided to BUY GOLD. I was trained on how to test the purity of different karats and weigh the metals and convert it to cash.... one thing i was not expecting was every story to come with the piece of jewelry the customer was selling. There is a lot of emotion in this industry. Not only engagements have emotion attached to it... making girls dreams come true... Guys making the biggest decision of their lives... you know one girl for the rest of his life. But gold let me tell you has much more emotion attached. I have had customers throw their old gold at me and say give me whatever you want i just want it gone!! Usually that's the ex-boyfriend jewelry. On the other hand i have noticed that some people just need the cash and really do not want to part with their jewelry... and this is a hard thing to deal with on both sides as the salesman and for the customer. On my side we obviously want to purchase the jewelry however I don't want to take someones ring that has been pasted down from generation to generation... just to give them a quick dollar to pay for gas. I also get people who here gold is over a $1000.00 an ounce and they bring in their 10k earring stud in and expect that i buy it off them for probably more than they paid for it... and then they get mad at me because i offer them the actual price of what its worth. Its one crazy emotional place, I would have to say I am alot more knowledgeable about how big a jewelry purchase really is to a customer. But keep in mind whatever happens... don't take it out on your local jeweler,we are only here to help you!!!!

Man Trampled at Walmart on Black Friday

2008-11-30T18:19:00.007-05:00

This Friday a man was trampled and killed by Walmart shoppers. It was said that people were pushed out of the way while they were trying to help the person being crushed by the crowd. I'm so disgusted by our society, so ashamed at the selfish acts of personal gain and greed, and so ashamed at the unconscious behavior. How could this happen? What on earth have we become? What was going on in the minds of the people at this horrific scene? We've decided that a $49 DVD player is more important than the welfare of our brothers and sisters. That our own personal and financial gain is bigger than precious life itself.

If you look at the people who attend the typical Black Friday sale, who show up at 4:00am to snatch up these products with their greedy little hands; you'll notice that they usually fit the same mold or stereotype. What's amazing is that I am watching a news cast right now and you should see the greedy little grins on the faces of the people rushing through the doors of Walmart. Despicable. Anyone who gets up at 4:00am to go to Walmart the day after Thanksgiving is probably experiencing a lot of problems in their life. They could be a little misguided or confused as to what's really important. Scoring a hot deal on a $49 DVD player should be the last thing on their minds. Maybe getting job or finding their compassionate side should be at the top of their minds. Now I know what you are going to say...."How could you stereotype people that shop at Walmart?" or "How could you say that about unemployed people, maybe they don't want to be unemployed?". Maybe most them are not bad people and maybe most of them don't want to be unemployed. But then again maybe some of them are victims of their own bad decisions and behaviors, like stomping on someone laying on the ground.

I haven't even started on the woman that created a fake person on Myspace and caused that poor young girl to kill herself. Oh my god, I can't believe the pain that we cause ourselves on this planet. I think we need to realign ourselves as a society, time to get our priorities in order. I hope we can use the Christmas Season to inspire our compassionate and emotional side

Economy and Diamond Buying

2008-11-29T12:16:00.005-05:00

I have been working as a Jewelry Salesman going on 3 years now and I have never seen business so slow... As a sales professional I need to sell, its my job. I have been noticing that people are on a very tight budget in the last couple months.. its hurting a lot of businesses I'm sure. People/Customers are buying more necessities for gifts this year... shoes, clothes, all that good stuff.. but they don't seem to making the bigger purchases as far as jewelry, cars, TVs ext... and if they are buying the bigger gifts they are price shopping them to death. Its a hard world for a salesman these days. Usually I spend a nice amount for the holidays and even I am cutting back this year... I told people not to spend much on me so i don't have to spend much on them and that's not my style... For example last year I bought my brother a 32'' flat screen TV, my mom diamond Jewelry... This year my brother is getting a movie or 2, my mom a much more affordable piece of Jewelry than last year...always have to hook up the mother with jewelry... If I am doing this I can imagine how many other people are going to be watching their pockets... All I can do as a salesman is hope the economy gets better so we can get the business back that I have seen in the past 2.5 years.

2008-11-26T15:18:00.004-05:00

Who knew that for every year your married there is a certain gift you give your significant other. The 1st year anniversary is paper, 2nd year cotton, 3rd year leather, 4th year fruit, 5th year wood. Wood, what kind of gift do you give that contains wood. The 6th year is candy, 7th is wool, 8th is bronze, 9th pottery. I dont have a stitch of pottery in my house but..ok. 10th year is aluminum. Does that mean that an acceptable gift would be aluminum foil? 11th year is steel, 12th is silk, 13th is lace and 14th is ivory. Ivory soap? 15th year anniversary is crystal, 25th silver and 50th is gold. Who thought of all this? What ever happen to gemstones and diamonds? I see hundreds of people a week that love to get a trollbead or two or three or four (highly addictive) as a anniversary gift. The meaning behind each of them makes it effortless to choose from the WIDE variety. The high fashion watches and beads from Cherie Dori are unlike any. What woman wouldn't want some of the finest Tacori fashion jewelry? Now that's what i'm talking about.