Before making your final decision on a diamond or diamond jewelry, it is important to have the diamond or diamonds independently appraised for their monetary value. An independent appraisal by a respected and certified independent appraiser will allow you to know if the diamond you are thinking of acquiring is actually worth the expense that is being charged for it. In addition to this, an independent appraisal will give you needed information for insurance purposes.

Many people make the mistake of confusing appraisal with certification, or simply think that they are the same thing. While both should list the diamond's type and proportions, they do not offer this information to the same degree, or to the same ends. A certificate that comes from a respected independent laboratory will provide in-depth information on a diamond's most essential statistics, in a scientifically observational manner. An independent appraisal, on the other hand, will provide the general identification information on a diamond, such as its proportions and type, but for the sake of assessing and providing a monetary value for the diamond.

One of the greatest values of the appraisal is to provide verification of the information provided on the diamond's certificate. A good independent appraiser will be able to tell you if the diamond matches with the grades that have been attributed to it on the certification. This will provide you with the security that your diamond has been correctly graded, that you can expect it to have the values normally attributed to diamonds of its specific level of quality, and that it is the correct diamond.

The reason that you will want an independent appraisal, as opposed to an appraisal from a jewelry store, is to avoid conflicts of interest. An appraisal from a jewelry store, or an appraisal from an appraiser who is appointed or hired by a jewelry store, is going to be questionable at best. The jewelry store is in business to sell you diamonds; it is, therefore, in their best interest to have a forgiving and generous appraisal of their diamonds and jewelry. An independent appraiser who has no such connections has no vested interest in whether or not you acquire the diamond. For this reason, they will give you the most accurate appraisal that he or she is can produce.

Numerous questions can be answered by an independent appraiser. Not only can you find out that the diamond that you acquired matches the diamond you are actually having appraised, and that the diamond matches the certificate you hold for it, but you can discover two other important things. First, has the diamond been treated in any way? A good independent appraiser will be able to quickly ascertain whether or not your diamond has had any treatments, such as color enhancement, laser fillings, or if it is even real. Second, has the diamond been cut to the correct proportions, in accordance with what you have paid for? Again, a good independent appraiser will be able to measure your diamond to determine its cut and other proportions.

When you are looking for a diamond, you will often find unbelievable discounts at some diamond and jewelry stores. For example, you may find a store offering a diamond that has been appraised at $2000 being offered for only $1000 or less. Remember, if it sounds too good to be true, it probably is. Appraisers who are part of, or paid by, a jewelry store will often hugely inflate the appraised value of the diamonds and jewelry of the store that pays them. By having an inflated "appraised" listed cost, the jewelry retailer can offer the diamond and jewelry at "discount" costs that are equal to, or even above, genuine market value, while appearing to give you a tremendous deal.

When having your diamond appraised, make sure that the appraiser you choose is associated with at least one of the recognized appraisal societies, such as the ASA (American Society of Appraisers) or ISA (International Society of Appraisers). In addition, she or he should also have a solid, accredited education in appraisal, as well as being certified by one of the major gemological societies. It is important to be aware that anyone can call her or himself an appraiser, so be certain to check into her or his qualifications and experience prior to entrusting her or him with your diamond or jewelry.

Your appraisal should include such information as your name, the date of the appraisal and the name of the item that is being appraised, such as the jewelry item or diamond type. There are also three (3) other pieces of information that you should expect to see in writing when having a diamond appraised by an independent appraiser:

• The reason for the appraisal, such as if it is to ascertain the identity and value, if it is for insurance purposes, or for other reasons.
• All of the diamond's features should be listed. This will include such measurements as the cut, clarity, color and carat, as well as the depth percentages for the various parts of the diamond's anatomy.
• A solid estimation of the diamond's value. This will include an explanation of what the given monetary value actually means, such as if it is for replacement costs or current market value, and how the value was ascertained.

Ask for the availability of the following:

• Good photographs of the diamond. The photographs will serve as visual identification of the diamond.
• A plot of the diamond's inclusions so that it can be identified in the future, in the instance of a dossier report or a lost certificate.