Perhaps you are having some old family jewelry that you don’t know what to do with, or they are gifts from your ex-partners, and you don’t want them anymore. The best thing would be to sell them to a reputable vendor. You can get a significant amount of money that you can use for something important.
However, selling diamonds can be quite an overwhelming task, especially if you have never done it before. You might end up getting scammed or get a lesser amount of money. So to make the task of selling your diamonds pretty simple and straightforward, we give you some of the essential things you need to know before selling your diamonds. Let’s get started!
- Know the value of what you got
First things first- before you look for a seller for your diamonds, you need to determine their worth. Diamond’s value is determined by 4Cs: cut, color, carat, and clarity.
The cut of the diamond is the first thing that a jewelry buyer will look at when determining its value. The cut of the diamond determines the shape and size of the diamond. The more unique and complicated a diamond’s cut is, the more expensive it will be.
It refers to a diamond with no flaws. A diamond with few flaws has a higher value because it still has its natural characteristics intact. So if your diamond has no or few flaws, you are more likely to sell it at a higher price.
Diamonds come in different colors, including white, yellow, pink, blue, and red. You need to know which colors are most valuable and ones that are less valuable. White diamonds are usually more valuable compared to diamonds tinted with other shades.
Carat basically indicates the size of the diamond. Many people think that the larger the diamond, the more valuable it is. However, this may not be true. Depending on the factors mentioned above, a smaller diamond can be more valuable than a larger diamond if it has better cut, clarity, and color.
- Figure out your selling options
When you want to sell diamonds, you have two options: sell it to the public or to a jewelry shop. Choosing a buyer doesn’t necessarily mean getting the best price; it depends on how quickly you want to settle the deal, how much you trust the buyer, and your negotiation and marketing skills. If you want to sell safely and quickly, you should opt for a jeweler, pawnbroker, or diamond dealer. You can also opt to give your diamond to a consignment shop or dealer to sell for you.
- Set a realistic price
If you want to sell your diamond as soon as you can, you need to set a realistic price. This can also help avoid any disappointment with the sale. The best way to determine price is by first asking how much the stone could be worth in a specific market and circumstances. You can also research yourself on sites that sell diamond and look for the prices of diamonds with similar characteristics as yours.