Selling Your Diamonds
How and Where to Sell Your
There are many reasons why you may want to sell a diamond that you own. Perhaps
you’ve gotten divorced, or you are strapped for cash. The reasons why don’t really matter – getting the best
possible price is what counts.
The way to obtain the best price for the diamond is to not be in a rush. Slow
down, and carefully consider all of your options – there are many options for selling diamonds.
Get the Diamond
Before you go to sell diamond, have the diamond appraised. In fact, have it
appraised by two or three jewelers to get an accurate idea of the selling diamonds value. Tell the appraiser that
you want the Rapaport Value. This is the
wholesale value of the diamond, and it basically tells you the highest price that you can sell your diamond for.
If your diamond has no certificate, you should consider getting a certificate from GIA. This may help you get a
better price for the diamond as well.
|When you get the diamond appraised via the Rapaport
it will tell you at what price you can sell your diamond
Selling Your Diamonds
First, try to sell the diamond yourself, to people you know. Friends and family
members may be interested. If you don’t have any luck with friends or family members, you should turn to outside
sources. Absolutely avoid pawn shops! A pawn shop will only offer you about 10% of what the diamond is worth! Also
avoid offers of selling the ring on consignment. There are many things that can go wrong, and there is no shortage
of diamond scams – even in well known jewelry stores.
If the diamond is of some significance, you
should strongly consider auctioning it off through one of the famous auction houses, such as Christie’s or Sotheby’s. If your diamond isn’t what is
considered an ‘important’ diamond or a high-end diamond, you should try to sell it to an individual using
classified ads, or even eBay. However, be careful - selling to an individual that you do not know could put you in
danger – especially if the diamond is worth a lot of money.
Sell Your Diamond to
Your final option in selling diamonds should be a jewelry store. It is vital that
you not let your diamond out of your sight while in the jewelry store – you might find that the diamond you walked
in with is not the same diamond that you walk out with! The jeweler will try to tell you that your diamond is of
poor quality or low weight. Inevitably, there will be some problem with the diamond. This is where your appraisal
and/or certificate will come in handy.
If the jeweler is fair, they will offer you between 60% and 80% of the value of
the Rapaport Value. Do not accept anything less than this. Again, do not let the diamond out of your sight until
you have been paid for it.