How to Sell A Diamond

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How to Sell A Diamond

Not all diamonds are forever. There may come a time in your life when you want to sell a diamond or two, for one reason or another. There are several reasons why you may wish to sell a diamond that you own. Possibly you’ve gotten divorced, or you’re whipped for cash. The reasons why don’t actually matter – getting the best possible cost is what counts! The way to get the best price for the diamond is to not be in a rush. Slow down, and carefully consider all of your Choices – there are several.

First, have the diamond appraised. In fact, have it appraised by two or three jewellers to get an exact idea of the diamonds value. Tell the appraiser that you need the Rapaport Value. This is the wholesale value of the diamond, and it basically tells you the highest Cost that you may sell your diamond for. If your diamond has no certificate, you should consider getting a certificate from GIA. This may aid you get a better cost for the diamond as well.

Try to sell the diamond yourself, to people you know. Friends and family members perhaps interested. If you don’t have any luck with friends or family members, you should move around 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 several things that May fail, and there’s no shortage of diamond scams – even in well known Jewelry dealer.

If the diamond is important, you should Powerfully consider auctioning it off through one of the famous auction houses, such as Christie’s or Sotheby’s. If it 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, selling to an individual that
you don’t know could put you in danger – especially if the diamond is worth more money.

Your last alternative should be a jewelry dealer. It’s essential that you not let your diamond out of your sight though in the jewelry dealer – you might find that the diamond you walked in with isn’t 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’ll offer you between 60% and 80% of the value of the Rapaport Value. Don’t accept anything less than this. Again, don’t let the diamond out of your sight until you’ve been paid for it.

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July 28 2009 05:32 am | Diamonds

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