If we put that aside, there are two big topics dominating the conversation in the diamond industry today: lab-grown diamonds and recycled diamonds. I write about lab-grown diamonds often, and will continue to do so, but the new buzzword seems to be recycled diamonds.
How I Define Recycled Diamonds
People in the diamond industry seem to have different variations for how they define recycled diamonds. My personal definition of a recycled diamond is a diamond that has had prior use and has re-entered the diamond market.
One facet of the recycled diamonds conversation that comes up time and again is the perception that these diamonds should be cheaper because they have had prior use. This is a common misconception.
How I Value Recycled Diamonds
Whether your diamond is recycled or newly mined, the value and cost of that diamond is determined by two things:
- The 4Cs
- The seller.
At K. Rosengart, we do sell recycled diamonds when available, and we choose to sell them at market value based on their appearance – and of course the 4Cs.
Older stones that have been worn for many years may have a chip or an abrasion. These factors would affect the value of the stones. Maybe a stone is from the 1950s and the cut is slightly different. Again, the stone’s value would be priced accordingly.
To make a blanket statement that recycled diamonds should be much less than newly mined stones is misleading. Plus, knowing what’s old and what’s new is not always possible. You can take a recycled diamond where the cut was very poor, re-cut it, and end up with a beautiful recycled stone that appears brand new.
Everything has its place and value. Most of the recycled diamonds that I see are not quite up to the standards of modern cutting or they weren’t obtained from a dealer with as a discerning eye as mine. Therefore, knowing who you work with is the most important part (and knowing where your diamonds come from goes hand in hand).