Diamonds have a mystique about them. Television ads portray them as the ultimate gift of love. Magazine ads want us to believe that a diamond is the only perfect gift to express love. If you plan on purchasing a diamond because you like how it looks or if gives you or your love one pleasure then by all means enjoy. If you plan on purchasing diamonds for investment purposes only you will need to do a lot of research to determine if this is a good idea.

De Beers was founded in South Africa in 1888 and today is the largest producer and seller of diamonds. Almost from the beginning the De Beers company has had a strangle hold on the diamond industry and a huge advertising budget. Diamonds are not as rare as the advertiser would have you to believe. De Beers keeps a huge stockpile of diamonds and tightly controls supply.

De Beers started the very successful advertising campaign A Diamond Is Forever in 1947. The Advertising Age magazine has voted this to be the most recognizable advertising line of the twentieth century. This advertising campaign was designed to discourage diamonds owners from putting their old diamonds back into the market.

The company has created many successful ad campaigns to keep the demand high for Natural Diamonds. The Eternity Ring, a symbol of continuing affection, The Trilogy Ring, symbolizes the past, present and future of a successful relationship, The Right Hand Ring, sold to women as a symbol of independence.

During the Depression era many people were too poor to buy diamonds. Engagement rings were made of fine crystal instead. Many of the depression era rings were quite beautiful and difficult to distinguish from the real thing. The ability to create cubic zirconium happened in the 1950 but it was not until 1979 that it became economically feasible to mass-produce and use them as a diamond substitute. Only a gemologist can tell the difference between a diamond created by nature and a cubic zirconium created in a laboratory

The man-made diamonds made today are of a better quality than the natural ones. A trained jeweler will be unable to determine a real one from a made-one unless he had some very expensive equipment. Insist on a certification before purchasing a diamond for investment purposes. It will tell you the stone’s carat weight, its color and clarity, and its flaws. If the seller is unwilling to supply a certification with the diamond then he may not be telling the truth and you should find someone who will. After all when you want to sell the diamond the new owner will want a certification from you.

How can you get the best deal for your diamond? Well, the answer here is very simple. Don’t be in too much of a hurry to dispose it. Consider all the options available before you let go of your precious gem. For your guidance, here are some suggestions that may be of great help in getting the best value for your diamond.

1. Look for a qualified appraiser. To get an accurate idea of your diamond’s value, have it appraised by at least 2 to 3 credible jewelers. You can easily find a handful of skilled experts in your immediate area by asking for recommendations from the Appraisers’ Association of America, the American Society of Appraisers or the International Society of Appraisers. Or if you are in a hurry and can’t wait for their recommendations (this usually takes a week), look for appraisers listed in the Yellow Pages.

2. Have the diamond appraised. When selling a stone as precious as a diamond, you would want to be armed with all the tools you can get. Of course, you would want to know the stone’s Rapaport value. The Rapaport value reflects the standardized wholesale price for which diamond jewelry stores all over the country are willing to pay for a diamond of a certain quality. This is also the highest value that you can expect to get from your diamond. Keep in mind that this amount would be significantly lower than what the stone would normally fetch in a jewelry store.

3. Ask around to see if any of your family members or friends is interested in buying the piece. The best deals are often made with people you know. If this fails, that would be the time to look for other buyers.

4. Make a round of the jewelry stores in your area. This would be your next best bet. However, be extremely cautious when taking this route. You should not let your diamond piece out of your sight even for a moment. You wouldn’t want it to be switched with one of lesser quality, would you?

Show the jeweler the diamond’s appraisal. If the jeweler offers you a price, which is 60 to 80% of the diamond’s Rapaport value (referred to as the dump value), you have made a good deal. But if he offers you a price well below 60% below the Rapaport value, don’t take it. He’s merely ripping you off!

5. Sell it in an auction house. If you own a diamond, which can be considered as among the top of the line, consider selling it off in one of the more famous auction houses.