Beyond The Essentials (Chapter 1, Key Terms & Concepts) Flashcards
An estimation of the value of an
article, usually for insurance purposes.
Appraisal
Someone who sells to
retailers rather than directly to consumers.
Wholesaler
Diamond grades provide a consistent, standardized way of communicating and comparing
diamond quality.
(Key Concept)
Diamond grades are only part of the determination
of diamond market value.
(Key Concept)
The listed wholesale prices of diamonds depend
on the market conditions that exist when the lists
are published.
(Key Concept)
Large, high-quality diamonds are graded much
more thoroughly than small, low-quality ones.
(Key Concept)
Diamond’s specific formation conditions are
directly responsible for its hardness and durability
as a gem
(Key Concept)
The unique physical properties of gem-quality
diamonds allow them to survive environmental
forces better than any other gemstone.
(Key Concept)
The huge financial costs involved in locating,
developing, and operating diamond mines are
factors affecting diamond value
(Key Concept)
Once diamond deposits are located, mining companies
must spend additional time and money to evaluate and develop them.
Substantial price discounts are available to retailers and jewelry manufacturers who
can buy in large quantities.
The Argyle mine in Australia contributed to
the rise of the cutting industry in India.
An estimation of the value of an article is a(n)
appraisal.
Wholesale price lists are usually organized according to
specific combinations of the Four Cs.
Dealers often sort melee by size using
sieves.
