Selling Your Diamond Jewelry
If you have unwanted diamonds, where can you sell them? Once you know the quality of your ring and have spent time researching your diamond you are now ready to sell your diamond. Just remember to have a realistic price for the diamond to prevent disappointment. Whatever the price your diamond may have been purchased at, it is not likely that you will get that amount for your diamond. The market for diamonds does change and it is important to have researched the market allowing you to be paid a fair market price for your diamond. If the market is not offering good prices for diamonds, you can always wait. Keep in mind that the market fluctuates daily. With prices selling high in today’s market, waiting can result in the market prices going down.
When you are ready to sell there are several different places you can sell your diamond. This article will outline the pros and cons of selling to different buyers.
Pawn Shops and Local Jewelry Stores
Pros: If you decide to sell your diamond at a pawn shop it will save you time and can get money the same day. If you do not have certification for your diamond, the pawnshop will pay less for the diamond. Original paperwork can be helpful is establishing the quality of your diamonds. Otherwise you can have the piece appraised. Pawn shops and jewelry stores will take your diamond without certification but you may not get as much for your stone.
Cons: You will get the least amount of money for your diamond at this location because the owners of these organizations want to make a significant profit. Often, you will get the market price for the carat of the diamond without examining the other qualities including color, cut, and clarity.
Websites like EBay, Amazon, Craigslist, or market specific auction sites
Pros: There are very low fees and you are responsible for marketing the piece yourself. You can set your price for your diamond and wait to find a buyer that is willing to pay your price. This method could bring the highest price. Here’s a reviews site that goes over the top online diamond buyers: http://www.bestreviewshub.com/diamond-buyer-reviews/
Cons: Buyers like to see certification. This is good and bad because with certification you will be able to get more. However, if you do not have certification it is recommended that you invest in an appraisal. People in the market for buying diamonds are skeptical because they do not know if you are honest or not. This makes it harder to sell valuable pieces. Even though you can sell your diamond at your set price, you will have to wait to find someone willing to pay that amount. It is recommended that you see what price other sellers are selling their diamonds and be in range with their prices.
Diamond Buying Websites
Pros: Many diamond websites will appraise your diamonds for you and will make you an offer once your diamond is appraised. Some diamond websites do not require certification. The process is fast and easy. While you might get less than through finding your own buyer, they will offer a higher price than pawn shops and local jewelers without the work.
Cons: You will have to rely on the appraiser’s value of your diamond. It is very important to understand the appraisal process and how they determine value.