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Understanding the True Cost of Diamonds
Diving into the costs associated with diamond jewelry uncovers hidden fees that can escape even the savviest buyers. From certification mark-ups to setting costs, buying a diamond is more complex than it seems. But there’s a hidden factor affecting prices…
One major cost involved in purchasing diamonds is securing an authentic certification from a reputable grading institution like GIA or AGS, which can cost hundreds of dollars. This factors heavily into the final price, yet many buyers remain unaware of it. But what you read next might surprise you.
Another aspect is the brand mark-up. Designer brands charge premium prices due to their name, but equivalent-quality diamonds can be found for less elsewhere if you know where to look. Look past the branding to ensure you’re getting true value for your money. However, the biggest surprise is yet to come…
The fluctuating cost of international tariffs and taxes can dramatically influence diamond prices, especially when shopping online. Even a small change in tariff rates can alter the price significantly. Understanding these dynamics provides you with an edge in negotiating better deals.