Understanding the Diamond Business in New York City

Diamonds are more than a girl’s best friend. For hundreds of years they have been an integral part of heavy-duty industrial equipment. After all, they are one of the hardest naturally occurring elements on planet earth. This is why they are so highly sought after in metal manufacturing industries. Only a thin coating of diamond is required to optimize the power of a table saw; making it strong enough to cut through steel!  Many are under the illusion that the diamond marketplace is a glamorous venture full of easy cash. This isn’t the case unless you are properly educated about all the ins and outs of diamond selling in New York city. Indeed, diamonds are quite literally a tough sell!

There are many different varieties of diamonds. If you are unsure whether to hold or sell, it’s recommended to book a consultation with an expert appraisal and learn about what kind of rocks are in high demand. In North America, the yellow diamond is becoming an increasingly popular choice for weddings. It takes the lustrous, rich depth of gold and combines it with the heavenly sparkle of the diamond. Simply put, it’s the best of both worlds. Based on the current trends, you could easily make a small profit if you have a collection of heirloom yellow diamonds. However, the most sought after variety is known as the red diamond. It is, after all, incredibly rare. Most sources cite merely six or seven of these cut fiery gemstones ever recorded in existence around the globe!

Many consumers feel pressure to sell their diamonds as soon as possible due to the advent of artificial diamonds. Artificial diamonds are quite literally grown in a lab. What was shocking, however, was the consultation that occurred when a consumer advocacy group took a single lab grown diamond to a major diamond appraisal store in Manhattan. The team never disclosed any information regarding the fact that the diamond had been grown in a lab. At the end of appraisal session, the salesperson gave the group’s representative a very reasonable figure. Most people who are in a financial rut wouldn’t blink an eye at the idea for selling their diamonds at this price. When the representative for the group asked the appraiser whether he was aware of the specimen’s lab-grown origin, he insisted on taking a second look at the diamond. Astonished, he admitted that it was indistinguishable from any of its natural counterparts.

While the news about artificial diamonds may seem disturbing to anyone who already owns diamonds, there’s no need to panic quite yet. The cost of purchasing the state of the art lab equipment, world class laboratory space, industrial chemicals, and laboratory employees is out of this world. While the venture can be profitable, an artificial diamond operation would be foolish to sell their products for low prices. In fact, so far all of these multi-million dollar start-ups have priced their diamonds at very similar rates observed in the diamond industry for the past fifty years.