How to buy jewelry
By Cris Sison
MoneySense
First Posted 10:07:00 02/11/2008
Filed Under: Personal Finance, Consumer Issues, Investments
1. Choose where to buy
Her four-month old gold ring looked elegant, but Flor Guzman noticed that it faded quickly compared to a ring she has kept for a decade. The first came from Binondo, a gift given by her young kids, while she bought the other one in Makati.
Where you buy your jewelry matters especially if you want a genuine piece. A custom or faux jewelry bought anywhere is good for everyday use, but any jewelry connoisseur will probably tell you that an authentic piece is a wise investment. “It’s the best investment. Jewelry appreciates and is liquid because it’s a commodity you can easily convert to cash,” explains MariGonz. But she warns: “it becomes a loss investment when you get a fake jewelry.”
2. Check the authenticity
Ask for a certificate of authenticity, a lifetime guarantee, and a sales receipt with company name and tax identification number. Have the jeweler write on the receipt the jewelry information (karat, weight, size, etc.) you relied upon. Check the refund and return policy. If purchasing from a high-end store, ask for a grading report from a gemological laboratory. International gemologist organizations like Gemologist Institute of America and European Diamond League issue certifications and grade the class of the stones.
3. Know what to look for
Some things you should know:
Gold. The higher the karat number, the higher the percentage of gold. 24k is 99 percent pure gold. 18k is 75 percent gold and 25 percent alloy, 14k is 58 percent gold, 12k is 50 percent gold and 10k is the minimum to be labeled “gold.” Find the country of origin. Saudi and Chinese gold are usually more expensive. Look for a trademark identifying its manufacturer. And remember: gold-washed (electroplated less than .175 microns thick) will wear away quickly than gold-filled or gold plate.
Diamond. Any good diamond should have the 4 C’s – color, clarity, cut, and carat (weight) certified by gemologist organizations. Ask if your diamond has been fracture-filled or laser-drilled, treatments that conceal imperfections. Diamond prices rice exponentially with carat weight, thus, a 2-carat diamond may be worth it than two 1-carat diamonds.
Silver and pearls. Only 92.5 percent silver can be considered sterling silver. Real or natural pearls are made from oysters and mollusks. Man-made imitation pearls are made from plastic or glass.
(This article is from MoneySense, the country’s first and only personal finance magazine. Visit www.moneysense.com.ph for more.)
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