Diamond Prices on the Rise: What This Means For Me
Prices on the Rise
World commodity prices are rising due to increased demand in the developing nations of the East. This has also filtered into the diamond and precious metal markets, increasing the price of luxury goods across the board.
Increased Diamond Values
The diamond jewelry or loose diamonds you purchased from Brian Gavin Diamonds have likely increased in value since you first received them, whether it was last month or years ago. Although you may not have initially made your purchase purely as an investment, in the past eight months, it has turned into an extremely valuable investment, due to its increased value.
The Rapaport Group, the jewelry industry’s leading trade publication and industry authority, noted in an April 2011 research report that, on average, diamond prices were almost 20 percent above levels seen in April of 2010. Jewelers’ Circular Keystone (JCK), another highly regarded source of information on diamonds, noted in an article in its latest issue that the prices of diamonds are up 15 percent or more over last year’s average prices, and are still increasing.
Having Your Diamonds Appraised and Insured
Your diamond is much more than a financial investment. The brilliance and beauty of Brian Gavin diamonds express the depth of your emotion even when the most sincere words fail. Protecting this treasure for the future is vital. Your current insurance may no longer be enough to cover the loss, damage, or theft of this personal and family treasure. In talking to your insurance agent, they can help you review your coverage. To do this, they will need an up-to-date evaluation of the financial value of your diamond, also known as an appraisal.
After the appraisal is done, you can work with an independent financial advisor, or your insurance agent, to determine the best type of coverage. You will need proof of purchase or inheritance, and evidence that you are taking proper precautions against theft. It’s also wise to photograph and document your diamonds or diamond jewelry so that, in the unfortunate case that you do have to file a claim, visual details are readily available.
The Brian Gavin Promise
With an unmatched dedication to customer satisfaction and five generations of expertise and knowledge, Brian Gavin Diamonds can help you protect your treasured heirloom and investment.
Contact Brian Gavin today, and we promise to work with you to make sure your ring or other custom designed jewelry will receive the protection it deserves for years to come.
