How to Sell Your Diamonds for the Best Price

By September 9, 2019Diamond

Before you sell your diamonds, it’s important to figure out a plan of action. Since they’re often valuable, both personally and in terms of cash, preparation is the key to getting a decent price. Whatever type of diamond jewelry you have, you’ll need to check its authenticity, get an idea of what price range is realistic and learn a little about how diamond resale works. If you want to get the best prices when selling diamonds, follow these tips.

1. What Are You Selling?

Diamonds are a favorite gemstone, loved for their beauty and their significance so that they can be found in all kinds of jewelry and accessories. They can be found in the following:

  • Tiaras
  • Rings
  • Necklaces
  • Bracelets
  • Brooches and pins

You may even have loose diamonds, from a ring or piece of jewelry that was melted down. When you research places to sell your diamond, look for options that specialize in the type of diamond you’re looking to sell. For example, if you have loose diamonds, make sure any potential buyer accepts them loose.

2. Verify Authenticity

Before you sell, you should know exactly what you have on your hands. Getting an appraisal done will help you make sure you get a fair price by giving you an idea of the diamond’s worth. Diamond appraisal confirms that you have a real diamond, and it can also tell you about the quality of your diamond. Some features on a diamond might make them worth more or less, and it varies by year and also depends on the market.

When it comes to appraisals, there are a few options. You can find free appraisals offered by diamond buyers or pawnbrokers. You can also look for formal examinations that include lab testing and certificates of authenticity. These tests can be expensive and are only recommended if you expect to sell your diamond for more than a few thousand dollars. Otherwise, the cost will eat into your earnings from the diamond.

3. Have a Price in Mind

Before you go anywhere to sell diamonds, determine the range of offers you find acceptable. Don’t get caught off guard by an offer made to you. Consider the appraisal and decide on the lowest price you’re willing to take. When you make your decision and prepare to take it to diamond buyers, you should think about current market prices and how that affects the value of diamonds in general. You can also take into consideration the flaws or features of the piece you are planning to sell, as described during the appraisal.

If you plan to research in person, by checking the prices on similar diamonds for sale, remember that a used diamond will sell for significantly less. Make sure to factor this into your expectations for selling diamonds.

4. Consider Where to Sell

Once you have done your research and you know how much you expect to get for your diamond, and the price range you’re willing to consider, it’s time to find a place to sell your diamond. For many people selling diamonds, time is of the essence. A quick deal might be important to you, rather than a long negotiation.

Pawn Shops and other resale stores are the best option for a fast sale that will get cash into your hand quickly. Many will offer quotes before buying, so you can make your decision without being pressured into it.

Choose Oro Express Chandler Pawn & Gold

Get the best price for your diamonds at Oro Express Chandler Pawn & Gold. Our store has been buying diamonds for more than 30 years, so we employ expert appraisers who can accurately assess your diamonds and other valuables. We offer cash and loans for diamonds and accept gems in all conditions, so contact us today for more information.

 

Image Credit: Shutterstock/allstars