If you have a Diamond that is Cracked, is it worth anything?
Do Jewelers Buy them? Is there anything that can be done with them?
These are frequently asked questions.
The Answer is: YES!
Yes, Jewelers do buy Chipped or Broken Diamonds. So Yes, there is something you can do with them!
Jewelers buy Cracked Diamonds every day, but what you will get for them (money-wise)? This is a whole different story.
The amount of money that Jewelers pay for a Fractured Stone depends on the size of the stone, the quality of the stone, how much damage has been done to the stone, and also, how much money the Jeweler has on hand.
Other things to Consider
There are other factors that go into the buying price of a Fractured stone as well…
- Can the stone be resold as is?
- Will the stone have to be recut?
- What size will the new stone be?
- Will the stone have to be certified?
- Is the hassle worth the profit?
Many times Diamond with small Nicks or Chips can be resold with no problems. Some nicks or chips can be rotated in the prongs or mounting to hide them. The Diamond may appear undamaged.
But often, Diamonds have much bigger Cracks and Fractures in them. These are harder to judge.
Judging a Chipped Diamond
A Jeweler will have to scope the Diamond well and determine how badly the Diamond is Broken. They’ll have to look at the stone and determine how much of the stone is usable, and how much of the stone is trashed. What Carat Weight will the new stone become? If it takes a 1.50 Carat Diamond all the way down to .25 Carat, is it worth it?
Especially when you consider the price of recutting the stone, and the cost of Shipping, Handling and Insurance the stone will endure.
Jewelers still need to be able to sell the new stone and still make some what of a profit off it to make it worthwhile.
If they only come out $50 ahead, it may not be worth the time or effort.
If a Certified stone is large and can remain fairly large after cutting, it’s probably worth having the stone re-cut and re-certified (you could also have this done on your stone, pay the amount to do it and keep your new, but smaller Diamond). Stones may need to be re-certified if the quality is good. Certification helps sell a Diamond. Plus, the Carat Weight and possibly Clarity of the stone will be changed.
This all Affects the Price!
If it costs $200 to have a stone re-cut. $150 to have a stone Certified. $25 for Shipping and Insurance. Another $100 for a new Mounting… You can see it adds up quickly. Then, if the new stone only retails for $999 and sells for $799, then it makes sense why the Jeweler would only offer you $100 for that Chipped Rock.
Jewelers have to make something off it, or WHY DO IT?
So, while a Chipped Diamond seems dire, all hope is not lost.
Most Diamonds are salvageable. And most can be re-cut and re-polished to remove the mar.
But each stone will have to be analyzed, critiqued and weighed against the market value, and the cost of the entire process.
Take your Chipped or Broken Diamond around town to different Jewelry Stores and get quotes on purchasing or re-cutting. You’ll probably find quotes all over the board. Plus, some Jewelers just don’t buy Diamonds period! You will quickly find out if your Chipped stone is worth anything and if you should do it.
Also know, that if your Diamond was Insured, most Insurance Companies DO pay the cost to have these stones replaced. That’s cool!
Check with your agent to see if your plan covers replacing damaged Diamonds (if not, have it added for future problems). You may get lucky! You may get a brand new stone for no charge! :)
P.S. It may also be a good time and opportunity to upgrade your stone to a bigger Carat Weight! Trade that Chipped 1.00 Carat Diamond in for a 1.25 Carat Diamond instead!
A Chipped Diamond isn’t doing you much good now! :)
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