Does It Matter Which Lab Grades Your Diamond?

Yes. Not for profit labs tend to grade more critically than for profit labs. The video below shows you how the same diamond recieved two different cut and clarity grades one from the Gemological Institute of America or the GIA (not for profit) and one from the European Gemological Laboratory or EFL (for profit).

How to spot a Fake Rolex

Are you in the market for a new watch? Are you considering buying a Rolex but want to make sure you aren’t getting scammed? Watch this 6 minute video to learn some quick tips and tricks to tell the difference between a genuine and fake Rolex.

Do you have a Rolex you are interested in selling or getting a loan against? Visit us at diamonbanc.com to see how we can help you.

19 Random Diamond Facts

DiamondWe all know diamonds are a girl’s best friend, but there are several facts about diamonds you probably don’t know. For example, did you know the only diamond mines during the 18th century were in India? Diamonds have a long and interesting history and are so much more than just a beautiful accent to a piece of jewelry. Here are 19 random diamond facts to take your love for diamonds a little deeper:

History of Diamonds

  • Ÿ Diamonds were first discovered in South America in 1725 after the diamond industry in India began to falter.
  • Ÿ Diamonds were not found in North America until the 1840s, but the excitement was short lived after the Great Diamond Rush was discovered in Africa.
  • Ÿ Russia currently holds the highest production of diamonds by volume, while Botswana produces the highest value of diamond.
  • Ÿ Although the United States produces nearly no diamonds, America has the potential to produce as much as 12 percent of the world’s total diamond production.
  • Ÿ While America produces few diamonds, the US purchases more than 40 percent of the world’s diamonds, holding the title for the world’s largest diamond market.

Carat and Quality

  • Ÿ Less than 20 percent of diamonds mined globally are true gem quality.
  • Ÿ The word carat used to describe the weight of a diamond originated from the Carob Mediterranean tree, due to the fact the tree’s seed was used for weighing precious stones.
  • Ÿ 1 carat equals 0.2 grams or .007 ounces.
  • Ÿ In a pile of thousands of diamonds, you’ll only find one polished diamond that weighs more than 1 carat.
  • Ÿ The largest diamond discovered weighed 3,106 carats, which was discovered in 1905.

Diamond Color

  • Ÿ Diamonds are colorless in their purest state.
  • Ÿ Yellow and brown diamonds are the most common colored diamonds.
  • Ÿ The rarest colored diamonds are blue and red.

Other Interesting Facts

  • Ÿ Diamonds are the hardest natural substance on the planet.
  • Ÿ Diamonds are nearly impossible to burn. In order to burn a diamond, it must be heated to 1292 degrees Fahrenheit.
  • Ÿ Diamond crystals move closer to the Earth’s surface through volcanic activity.
  • Ÿ Diamonds were formed billions of years ago as the result of tremendous pressure and extremely high temperatures.
  • Ÿ Diamonds were formed between 75 and 120 miles below the Earth’s surface.
  • Ÿ The earliest reports of diamonds date back to 500 B.C.
  Knowing these interesting facts, next time you slip on your diamond ring, take a minute to think about the amazing and long journey your diamond has taken throughout time to find a resting place on your finger.

How to Get a Loan with Bad Credit

How to Get a Loan with Bad CreditFor anyone who has tried to get a diamond or jewelry loan and are wondering where to turn, you’re in luck!  There are loans out there that are meant for those who would prefer to think outside of their traditional bank options when looking to secure a business loan.  These loans exist to allow people who need access to funds sooner than later to still get the money they need for a loan as quickly as possible. One common tactic used by many to get a loan with bad credit is to visit their local credit union. Since these banks are smaller and owned by their members, they might be more inclined to work with people who have bad credit, based on your promise to repay the loan. Another tactic always try tracking down a co-signer and latch onto their better credit score.  Of course, depending on the type of loan you’re going for, this could prove to be pretty tricky, as co-signing anything makes that second person just as responsible for the loan as you are. Many people who don’t have access to a credit union or have trouble getting a co-signer to help them out are finding an alternative in using jewelry as collateral in order to obtain the loan they’re looking for. Diamond Banc has been offering loans of this kind on a regular basis for a long time now, and works to provide personalized collateral loans for each of our customers so that we make sure we do all we can to get their items back. A growing number of people prefer the privacy and security offered by Diamond Banc loans in St. Louis and Columbia – including our jumbo and business loan options – as opposed to traditional loans they might get if they had bad credit. Visit our loans page today to see how you can get a loan with Diamond Banc.

Luxury Assets as Loan Collateral – Why Banks Aren’t Interested

resale value on diamonds

Luxury Assets as Loan Collateral – Why Banks Aren’t Interested

For anyone in the pinch for a quick cash infusion, a luxury item can come in handy. Just don’t try to use your item (diamond ring, expensive jewelry, etc.) at your local bank. They’ll accept vehicles, property, investments, future payments and even insurance policies – but when it comes to jewelry, you can pretty much forget about it. Most banks simply will not entertain the idea of offering, say, a $4,000 diamond ring to back up a $4,000 loan. So what are the biggest stumbling blocks for banks not going along with this type of collateral loan? Banks use credit scores, yearly income and other factors when determining loan viability. If your credit score is 740, you make $100,000 per year and have a stable job history, you can basically write your own check. But if you’ve had credit issues, a bank will probably deem you “too risky” for a significant amount. Banks are resistant to change. You know the banker stereotype – all business-like, sort of nerdy, kind of uptight? Well, that image extends to bank policies. Luxury items, just like a less-than-stellar credit history, is too much of a reach. Occasional stories surface that indicate change may be coming soon (designer handbags for a loan), but for now…the conservative banker strikes again! Sometimes, it’s hard to determine a piece of jewelry’s value. We can’t really blame the bankers here. If a certificate of authenticity isn’t available, the bank can’t just estimate the value. Official documentation matters. So while it’s very frustrating that traditional banks will lend money on a mere signature and not a pricy pair of diamond earrings, there’s not much you can do about their policies. Diamond Banc can give you a loan using luxury assets (like fine jewelry) as collateral. There is no red tape, credit checks, employment verification, or any other hurdles. Simply fill out our simple online form, answer a few questions and you’re on your way! Because we eliminate the red tape, the processing time is much faster than traditional loans. Ours usually take a few days, while bank loans can be bogged down in approval process for weeks or even months! If you’re frustrated with your local bank’s refusal to accept your luxury items as loan collateral, Diamond Banc is your solution. We’re here to help. Simply fill out our contact form, or call 1-855-DIA-BANC to speak with one of our luxury item loan collateral experts. Thanks again for reading the Diamond Banc blog!

What Makes a Diamond Rare?

What Makes a Diamond Rare

What Makes a Diamond Rare

From 11th century Arabian merchants to the latest flash of Hollywood bling on the red carpet, rare diamonds have always captured our imagination. But what exactly makes a diamond rare? While we often hear about bigger and bigger diamonds valued at higher and higher prices each year, there are many other qualities beyond size that make a diamond rare and valuable.
  • Carat – While the value of a diamond goes up as the carat or weight increases, the size of the diamond can greatly affect its rarity. Large diamonds are more rare than small diamonds, so a larger stone doesn’t just cost more; it also costs more per carat.
 
  • Only about 1 in 1 million diamonds mined are quality one-carat stones, only 1 in 5 million are 2-carat; and 1 in 15 million are 3-carat.
 
  • Looks can be deceiving: If there are two D-color round brilliants with identical clarity and cut, that are close in carat weight, the one that appears larger, but actually weighs less, can often be considered more rare to a customer and fetch a higher price.
 
  • Color –The world’s foremost diamond authority, the Gemological Institute of America, uses a grading scale that ranges from the most rare and valuable colorless “D” to the highly colored “Z”. However some colored diamonds, especially saturated pinks, blues, and greens, can be considered more rare than diamonds with less color.
 
  • Clarity – Diamonds have internal features, called inclusions, and surface irregularities, called blemishes. Diamonds graded Flawless don’t have any of these visible clarity characteristics when examined under a microscope. Flawless diamonds are so rare that it’s possible to spend a lifetime in the jewelry industry without ever seeing one.
 
  • Cut – The value and appearance (sparkle, brilliance and fire) of a diamond depends more on cut than any other factor. Cut refers not to a diamond’s shape (e.g. round, oval, pear, etc.) but to a diamond’s proportions, symmetry and polish.
   

What is the Resale Value on Diamonds?

resale value on diamondsWhen you are spending hundreds, or even thousands, of dollars for a piece of diamond jewelry, you have to consider whether it will retain its value should it need to be liquidated to generate cash at a later date. While diamond engagement rings form a significant chunk of the market, engagements can be broken and proposals may be turned down. When that happens, should you hold onto the item with the expectation that it will appreciate in value? Continue reading →

Are Diamonds Really Unbreakable?

Unbreakable DiamondIf you have just been the lucky recipient of a diamond engagement ring, congratulations! It’s beautiful and sparkly and you can’t resist making it dazzle in sunlight or under a spotlight. You may be wondering about whether it is going to stay that way when you come off your cloud and back to real life, where you make beds, wash dishes, etc. Part of you never wants to take it off your finger under any circumstances, while part of you worries about getting it scratched. Let’s put your mind to rest. Continue reading →

How to Tell If a Diamond Is Real

How to Tell If a Diamond Is Real

How to Tell If a Diamond Is Real

They say that one of the easiest ways to tell if a diamond is real or not is to breathe on it. Because diamonds are made up of a bunch of compacted carbon molecules, they won’t fog up like glass or a synthetic diamond. Whether you’re looking to buy the perfect gift for that special someone in your life or thinking of selling a family heirloom and wondering if the diamond is the real deal, it pays to know the difference between real and synthetic diamonds. Continue reading →

Six Ways to Prevent Your Jewelry From Tarnishing

Six Ways to Prevent Your Jewelry From Tarnishing

Six Ways to Prevent Your Jewelry From Tarnishing

Tarnish is a dull, dark layer of corrosion. It can affect many metals, although the precious metals like silver and gold, which are used in jewelry, seems particularly susceptible. The best people to ask how to keep your bling from becoming discolored are the people that make and sell jewelry containing these precious metals. Gold and silver alloys are the only form of metal that will tarnish; neither silver nor gold in their 100% pure form will succumb. However, metals in this condition will almost never be used to make rings, bracelets, etc. This is because they are too soft and would wear away in time. Not something you want to happen. Continue reading →