The general public is well aware that diamonds reach for very high prices. Those who have bought a diamond before and those currently looking to buy a diamond are especially aware of the high price tags attached to diamonds today. Unfortunately, there are some companies that take advantage of these facts and overprice their diamonds; thus causing a potential customer to spend much more than they should on a diamond. Many people have asked if Blue Nile overprices their diamonds since some of their products tend to reach for quite a significant price. Luckily, it does not seem like Blue Nile’s prices are higher than they should be, especially when compared to the grading reports provided and the average price of diamonds that match the qualities on these grading reports.
To determine the value of a diamond, a brand first has to send the diamond for an official appraisal at an independent laboratory that specializes in diamond grading. There are many laboratories that can be used, but only a few are truly trusted by the general public – especially by those individuals who have educated themselves with at least a little bit of knowledge regarding diamonds and the general diamond industry.
The trained appraisers at these laboratories start out by weighing the diamond and then inspects the diamond closely under a microscope. This helps them see if any inclusions or blemishes are present, rate the color of the diamond and also determine how well the diamond was cut. Some other aspects are also considered, especially with the higher quality diamonds. Thereafter, a report is compiled by the appraiser, which helps the brand determine the value of the particular diamond.
When a grading report claims higher values for a particular diamond than what the diamond actually possesses, the brand that uses the diamond in their jewelry will obviously place a higher price tag on the diamond. This leads to overpricing.
Blue Nile only uses respected independent laboratories in the United States to have all of their diamonds appraised, with the two primary laboratories being the GIA and the AGSL. With this in mind, it also means that Blue Nile uses laboratories that are able to give them the most accurate diamond appraisals; thus leading to more accurate pricing.