What You Need to Know About How to Sell Diamonds

When times get tough financially, as they have been for millions of families, one of the easiest ways to get the money you need is to sell any diamonds that you own and no longer wear. Why would someone want to get rid of diamonds? Some times, diamonds can be a negative reminder of a certain someone or an emotional situation. Other people might own loose diamonds and are now looking to get a return on their investment. There are some things you need to know when looking to sell your diamonds — read on and find out the key points. 

Where to Start

First things first; get your diamonds appraised by an appraiser that has proper qualifications, so you know the maximum value for each stone. If you need help locating an appraiser, the Appraisers Association of America can help you find one. It’s also helpful if you can obtain a report verifying your diamond’s characteristics and value, from the AGS (American Gemological Society) or the GIA (Gemological Institute of America).

Know the Four “C”s

Get to know about the four “c”s that determine your diamond’s value, so that you are prepared to deal with diamond buyers and discuss your diamonds from a knowlegeable standpoint. They are color, cut, clarity and carat. Color refers to the diamond’s tone, with clear being the most desirable and valuable. Color is graded with letters from D to Z, with Z representing the most yellow diamonds. Cut is determined by a diamond’s fire and brilliance, with rankings ranging from Excellent, Very Good, Good, and Fair to Poor. Clarity refers to the level of inclusions, or blemishes, contained within a diamond. Diamond grades are flawless (FL), IF, VVS1, VVS2, VS1, VS2, SI1, SI2, I1, I2, I3. IF stands for Internally Flawless. V=very, S=slightly and I=included. Finally, carat refers to the diamond’s weight. Diamonds are measured in carats or fractions of carats, and one carat weighs 0.2 grams. A one carat diamond is made up of 100 points, so a diamond weighing 0.15g is three-quarters of a carat, (.75 carat), also called a 75-point diamond.

Do You Really Want to Sell?

Decide whether you want to use the diamond for a loan or get more cash by selling it. If you need some quick cash but don’t know if you are ready to let go of your diamonds forever, a pawnshop loan is your best bet. Just make sure that you will be able to pay the loan off and get your diamonds back. You will not be able to get as much cash this way, so selling is your best bet if you want to get top dollar for your diamonds.

Where to Sell

Check with jewelers, friends and family to see if anyone has an interest in buying your diamonds. Auction houses can bring you quite a bit more money for your diamond, especially if it has an interesting ownership background or is a rare color. Take a look at online auctions, such as eBay, to get an idea of what your diamond might sell for. The downside is that this path takes a bit more time and effort on your part.

Find a reputable buyer with a long history of ethical business in the diamond market. Ask for feedback on them from other people in the business, such as other diamond sellers. If you can’t locate any diamond buyers, consider selling to a gold buyer, such as WeBuyAllGoldAndSilver.com. We will be happy to look at your diamonds and make you a cash offer.

Even though diamonds are a girl’s best friend, sometimes a girl needs a little help from her friends. Getting cash for your unwanted diamonds can give you the resources to use for a vacation, a special gift or to pay off some bills. Being informed about diamonds and having yours properly valued before shopping them around can help you get the highest prices for them. Selling diamonds can free up cash that has been tied up for years, and provide you with the funds to use for other, more current needs.

Call us today to discuss your diamonds, or stop by and bring your diamonds in to one of our over 13 stores, and we’ll give you a free consultation with no obligation.

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