Diamonds hold emotional value for everyone, but it is time you let go of the “diamond is forever” sentiment. You may find yourself in dire straits where you must make the tough decision of selling your diamonds – whether for personal or financial reasons. But selling diamonds is definitely not child’s play. There is a constant fear of getting ripped off and worrying about getting the right price for your loose diamonds. Dabbling in the diamond-trade industry requires research, confidence, and knowledge, all of which we deal with in this article.
Lately, there has been a huge surge in demand for diamonds across the globe. This has resulted in a need for more diamonds in the market to match the demand. Thus, jewelers and diamond manufacturers are not only producing and mining new diamonds but also buying old, pre-owned diamonds from old customers at great prices.
In order to get the best prices for your loose diamonds, there are several factors you must learn about. These greatly affect the resale value and, thereby, the price you get by selling loose diamonds. In this article, we have listed all the practical know-how of selling diamonds, tips and tricks to get the best deal, and all the knowledge you require to gain a firm footing while selling loose diamonds.
Get a grading certificate for your loose diamonds.
Diamond buyers look for original diamonds to invest their money in. And the only proof of authenticity is a diamond grading certificate. A GIA certificate ensures the best grading of your diamonds and also secures the resale value of loose diamonds.
Providing a grading certificate assures your buyers that they are getting the real deal and also secures your position to fetch high prices while selling loose diamonds. Having all documents and certificates ready shows that you have come prepared for the sale and gives you confidence while negotiating with the diamond buyer.
Understand the 4Cs
The value of a diamond rests heavily on the 4Cs. These are standards set by the Gemological Institute of America (GIA) for the universal assessment of diamonds. Here, four primary factors are considered while grading a diamond – color, clarity, cut, and carat weight of the stone.
The diamond color chart reveals the yellow tint usually found in white diamonds. Thus, diamonds with a lesser degree of yellowish hue are more valuable than those that are explicitly yellow or even brown.
Diamond clarity touches a variety of bases – the main ones being inclusions and other internal blemishes in the diamonds. A higher number of flaws can create a hazy, dull, and blurry appearance and is not appealing in diamonds.
Look out for diamond cuts because the more intricate and complex the cut, the greater its value will be. Some evergreen styles include the Princess cut, Emerald cut, Round cut, and Cushion cut diamonds.
The Carat weight of a diamond, quite naturally, affects the overall value of the stone. Even the tiniest difference in carat weight can cause hundreds of dollars’ worth of difference in value.
As a result, all these four factors play an extremely significant role and can independently affect the value of the diamond.
Know the worth of your loose diamonds
Do not set unrealistic expectations while putting your loose diamonds up for sale. Just because your diamond is chunky in size does not mean that it is worth thousands of dollars. Only a proper professional appraisal can give you an idea of the value of the stone.
As a general rule, you will receive an amount that is less than the original selling price of the diamond. Based on the appraisal, set realistic and practical prices and do not sit around hoping to sell diamonds in exchange for huge sums of money.
Big brands fetch more money
Diamonds that were originally purchased from big brands and luxury jewelry stores tend to have a greater resale value. Having documents and certificates ready to prove that your diamond is from a high-brand can be beneficial. This was fetched you better prices and great offers.
Approach local jewelers
Visit the same jeweler you originally bought the diamonds from. Find out what they are willing to pay now. Go around and visit other local jewelers and get a feel of their offers. If what they are offering matches your expectation and target, go right ahead.
You can even try out thrift stores. But most often, these stores do not assess diamonds professionally, and you will end up with less than what your stone is worth.
Prepare yourself mentally for sale
Diamonds are not just ornamental stones; they carry emotions and memories. We understand that letting go of these is especially difficult. However, if you hope to make a good deal out of your loose diamonds, you must keep your emotions in check and be mentally prepared to part ways with them.
You must be firm and confident so that you are not offered less for your diamonds than what they are worth. Making excuses or being indecisive can make you appear fickle, and the diamond buyers will try to take advantage of your weak frame of mind.
Selling loose diamonds is extremely and can fetch you high sums of money instantly if you know the right place to go to. Sell Your Jewelry by Dianoche offers a professional assessment of your loose diamonds along with a 100% free consultation with expert gemologists.
They offer the highest prices in Singapore based primarily on the professional evaluation of your diamonds. The entire process is fully safe, secure, and transparent with no hidden clauses. Once you accept their offer, you get to walk away with a heavier purse.