Diamonds are fashionable and make their wearer eye-catching as it bestows a great glow on them. Better still, you can sell diamonds when in need of a way to raise funds and make money. Your diamond bracelet, ring, or pair of earrings would serve as a great source of liquidity as diamonds are not only an investment in beauty but also in wealth.
There is also the possibility of losing love for your diamond jewelry or inheriting loose diamonds. You may just not be a fan and prefer cash to the precious jewels themselves. How then do you convert your diamonds to cash without getting ripped off?
Thanks to technology and the internet, you can easily do this with the help of reputable buyers (that specialize in buying diamonds from people) and even get a quote online through their websites. However, before we rush into all that information, here’s an honest question: Do you know how to clean diamonds?
You May Read the Article from New York Times about Rare Carat #1 Diamond Market Place: “The Secret to Buying the Perfect Diamond”
Keeping Your Diamonds Presentable
You should be able to maintain your diamonds properly before beginning the process of selling diamonds to interested buyers. The major method of keeping your diamonds presentable is not complex. You can do it at home with materials you already have.
- Make a degreasing solution in a clean bowl using lukewarm water and some drops of mild dish soap.
- Soak your diamonds into the solution in the bowl for 10-15 minutes, or more depending on the dirt.
- Use a soft and clean toothbrush to brush off excess dirt. Then, your diamond is good to go.
The Step-By-Step Process
Selling diamonds are not too strenuous when done the right way. All the information you need to know is given in the following steps.
#1. Get Your Diamond Appraised and Certified
You would need to know your diamond’s value and have it certified (assessing its colour, cut quality, weight and clarity) to get the best sale from it. Certification of your diamond can be done at a reputable lab like the Gemological Institute of America (GIA). This shows the authenticity of your diamond and prevents biases regarding its value. After this, you can get it appraised by one or more local appraisers or sell it to an establishment that offers a free appraisal before sales.
#2. Set A Realistic Price and Negotiate with The Buyers
In setting your price, factor in negotiation. Do not settle for less than 80% of the appraised value. Your negotiation skills are important here, and you should be satisfied with the final price.
#3. Consider All Options
Don’t be rigid on a particular way to sell diamonds. You can decide to sell to a local buyer, friend, or establishment via their online platforms. Also, you can list your diamonds in the local newspapers, online, or on an intermediary website like e-bay or craigslist. However, the latter methods are a bit risky. If you want to learn more about how to sell diamond ring for the best possible price you should do your own research and select the best option for you. But if you have any other unwanted jewellery you should check the gold, diamond and precious metals value.
#4. Finally, Sell Diamonds
You should be prepared for the possible feelings of loss, especially if it was a gift or family heirloom. Additionally, research well, get your diamonds certified and evaluate all offers. Make sure that when going into the sale, you’re certain that you have made the best decision.