How Much Can I Get When I Sell Diamonds?

Are you planning to sell diamond? There are many jewelry stores in America that are ready to your buy diamonds. However, the prices offered are lower than the original price. There are many elements that affect diamond price.

The first thing to do when selling your diamond jewelry is to have it appraised. The jewelry store has its own appraiser. These diamonds will not be appraised to the original retail value.

By having an appraisal, you will know what your diamonds are worth. Shapes, color, and clarity come into play. Round and brilliant cuts are easier to sell compared to marquise or heart shaped cuts, because not many people want to buy fancy shaped diamonds. But, round diamonds have a higher appraisal value.

Diamonds that are yellow and off-white have lower value than clear diamonds. The clearer the diamond, the higher value it has. Remember, when you sell diamond, it is helpful to use the services of an independent appraisal company.

Since there are thousands of appraisal institutions, choose the one that is a member of legitimate affiliation, like the American Society of Appraisers, International Society of Appraisers, or the Appraisers Association of America. After appraisal, they will certify its authenticity.

By having a certification, it makes it easier for people to buy diamonds. They now have written and legal proof that their jewelry – a diamond solitaire ring, diamond wedding rings, or diamond engagement rings – is certified with its natural characteristics.

After the appraisal, ask for a Rapaport value. It is a wholesale price listing published in New York. This listing informs jewelry stores of prices that they should pay for diamonds. The price that the appraiser gives you will be the highest price you can get to sell a diamond. For instance, if your diamond is a 1-carat, round, VS1-G Class 2 cut having no fluorescent, its rapaport value is $7,300.

To look for a buyer, start with your family, relatives and friends. Perhaps someone in your family or circle of friends may was planning to buy diamonds for an occasion. Most often than not, people get the best deals from someone close to them.

Other potential buyers are jewelry stores. However, they can be tricky sometimes. A few of them have the tendency to switch the diamond or jewelry. So be alert and never let your precious stone out of your sight.

If you want to sell diamond to a jewelry store, it will help if you show him your certification and rapaport value. This will prevent the appraiser from giving you an amount below the dump value. The dump value is the term given when only 60 to 80% of the total rapaport value is offered. If he gives between 60-80%, he is being fair with you. If his offer is only 60% or less he is a low balling you.

Online Auctions can be a great place to sell diamond. Choose the auction sites that have the greatest traffic and reasonable charges. You may also see the auction prices and the basic information that competitors are using to sell their diamonds.