4 Secrets to Unbiased Blue Nile Diamond Appraisals

Are all Blue Nile Diamond Appraisals the Same?

All Blue Nile diamond appraisals are not the same. Far from it.

If you take your diamonds to local jewelers or pawnbrokers, they’ll all have different opinions of how much your stones are worth. Those valuations will definitely differ from professional appraisals provided by experienced diamond brokers or dealers like Dimorras.

Even more striking will be the fact that all of those reports will place a much lower value on your stones than the Blue Nile diamond appraisal you originally received when you purchased your diamonds.

Why does a simple appraisal have to be so complicated? And how do you sort it all out if your goal is simply to sell your Blue Nile diamonds for the highest price possible?

You first have to understand what appraisals are – and what they mean.

Navigating the Messy World of Appraisals

One of the most controversial subjects in the diamond and fine jewelry industry is appraisals. When a customer buys a diamond ring she often receives an “appraisal” from the jewelry store or vendor, and she’s likely to believe that the number on the bottom line is what the ring would be worth if she resold it. In fact, she’ll probably be delighted, because an “appraisal” that comes with a jewelry purchase normally shows a price much higher than the purchase price.

Here’s the problem: a vendor’s inflated “appraisal” isn’t intended to convey the true value of a diamond ring. It’s issued for two other reasons.

First, it documents the jewelry’s supposed replacement value for insurance purposes. The higher the “appraisal,” the more an insurance company can charge for its policy. And a higher replacement value means more profit for the insurer if the ring is lost, because the company can purchase an equivalent replacement ring for much less than the policy’s inflated valuation.

Second, an unrealistic “appraisal” does exactly what we mentioned earlier. It delights customers who look at the bottom line, see a big number and think they’ve scored an incredible deal. And happy customers make vendors happy, too.

In short, high appraisals issued at the time of sale benefit both the seller and insurance companies. But how can vendors justify inflating values on appraisal forms?

It all has to do with markups. Every jewelry retailer understandably charges more than wholesale value for the stones or pieces they sell, since they have to pay for the cost of running their business and make a profit. The usual markup for brick-and-mortar vendors is – believe it or not – between 70 and 100 percent. Most Internet sellers like Blue Nile markup their diamonds only an extra 20% or so, however, because their costs are much lower. That’s why you usually pay a lot less for diamond jewelry when buying online.

But when any vendor issues an initial appraisal they’ll quote “current market data” – in other words, what you’d pay at the average jewelry store for an equivalent piece, complete with the 100% markup. That appraisal means more money for insurance companies, gives customers the impression that they paid much less than their diamond is worth, and bolsters the vendor’s reputation for offering great deals.

Here’s the bottom line: Blue Nile diamond appraisals issued at the time of purchase make everyone feel good, but they don’t reflect the true value of the jewelry. To know what your diamonds are really worth, you need an independent appraisal.

Honest Blue Nile Diamond Appraisals

 You now understand why, when you want to resell your Blue Nile diamond ring, you’ll usually be offered much less than the ring’s original (and inflated) appraised value. The buyer isn’t going to reimburse you for the 70-100% retail markup reflected in the appraisal. The good news is that a diamond ring purchased with a 20% markup from Blue Nile, rather than a 100% markup at a local jewelry store, will bring offers much closer to the amount you originally paid.

That still doesn’t tell you whether the offers you receive reflect the ring’s true value, however. Many pawn shops, jewelers and online scammers will try to buy the piece for less than it’s really worth. Before selling the ring you need to know its true value, and the best way to do that is to consult a legitimate and qualified diamond appraiser.

The ideal choice is a professional diamond dealer, because their appraisers have been fully trained and certified. They also have the knowledge required to evaluate any type, size or cut of stone, since they’ve spent their careers appraising diamonds. They typically see more diamond jewelry in a month than a jewelry store owner with a microscope and loupe in the back room will see in his lifetime.

Obtaining an appraisal from a professional diamond dealer can be extremely difficult in most areas of the country, though. That’s why the convenience of working with Dimorras can be a godsend. We’re one of the country’s most respected dealers in diamonds and fine jewelry, and you won’t even have to leave home when we perform a Blue Nile diamond appraisal for you.

Why Working with Dimorras Makes Sense

Convenience is one of the reasons so many people choose Dimorras for their appraisals. Our process is simple and straightforward: you use our online form to tell us about your stones and diamond jewelry, we get back to you within 24 hours with a preliminary evaluation, and you decide whether you want to proceed with a complete, professional appraisal.

If you do, we’ll pay for you to ship the pieces to us, fully insured at our expense. Our staff of experienced appraisers, relying on their decades of experience and working in our fully-equipped labs, will rigorously inspect your diamonds and assign a realistic value to them. We’ll then be back in touch with your Blue Nile diamond appraisals – and a firm offer to purchase at a price higher than any other buyer can offer.

The reason we pay more than local merchants or other online buyers is simple. Blue Nile is renowned for its high-quality diamonds and jewelry, and we have a huge clientele that wants to buy pre-owned Blue Nile pieces. We need to keep a large inventory on hand, so we’ll often pay above-market prices just to be able to keep those clients happy.

If you decide not to accept our generous offer – no harm, no foul. You’ll know what your diamonds are realistically worth and we’ll immediately ship them back to you. But you won’t be able to find a better offer anywhere else, and our many repeat customers know that. It’s why we’re able to buy Blue Nile diamonds in such large quantities.

Dimorras is the #1 online provider of Blue Nile diamond appraisals. We look forward to showing you why.