How Much Are Diamonds Really Worth When You Want To Sell Them?
Do you have diamonds or diamond jewelry that you would like to sell? Maybe would like to know where to start to get cash for an old engagement ring. In this post, we will describe how to sell diamonds, where to sell diamonds, as well as some tips designed to get you the most money.
Diamond Exchange Houston is an expert diamond buyer with decades of diamond buying experience and we want to give you the best tips for selling your diamonds. Contact us today for a FREE estimate on the value of your diamond jewelry. Simply fill out our contact form or call us today to get your FREE verbal jewelry appraisal.
Everything You Need To Know About Selling Diamonds-
It is best to be prepared when it is time to liquidate your jewelry. Below are some simple tips and tricks you can use when selling diamonds, engagement rings, estate jewelry, and other types of diamond jewelry.
Step #1. Know Your Diamond
The first step in selling your diamond is to have a good understanding of what you have. Knowing the 4 C’s and having as much information on your jewelry as possible will only help you. Diamond buyers are going to ask you questions about your diamond(s) such as:
- Diamond Carat Size
- Diamond Shape
- Diamond Quality
- Diamond Certification
An actual diamond certificate by GIA would be the most helpful. Once your diamond is certified by GIA there will be no debating what you actually have. This will help you as well as diamond buyers determine the value and set a reasonable price. A 3rd party jewelry appraisal by a gemologist can be another useful tool, however, appraised values are often greatly inflated.
Step #2. Research Places That Buy Diamonds
Once you have a good understanding of your diamond, the next step is to research the market. This will help you understand the current trends, demand, and pricing for diamonds of similar quality. You can look at places that are local to your residence as well as online marketplaces. Below we have listed 8 different outlets for you to sell your diamonds.
Step #3. Get FREE Estimates
Anywhere that is a diamond buyer that you can physically take your diamond or jewelry in to will be able to do a verbal jewelry appraisal and offer you a free estimate. It is recommended to take your diamond to several places to see how much they will pay you for it.
With online jewelry buyers, it is a completely different story. They are not able to see the quality of your diamond jewelry in person therefore, they can only offer you an estimate. They will often tell you whatever you want to hear to get you to ship the diamond to them, then when they get it they will often change the estimated amount. We have seen this happen many times with our previous customers.
Step #4. Consider Jewelry Consignment
If you want to get maximum value and are not in desperate need of immediate money then jewelry consignment is a viable option. On jewelry consignment, a jewelry store will offer to sell your jewelry for a small fee. This will often get you much more money than selling your diamond outright on the same day. The drawback of jewelry consignment is that it will often take weeks or months to sell.
Where Are The Best Places To Sell Diamonds?
There are many different options that are available when it comes to selling your diamond jewelry. The goal you should have in mind is to get the most money for your diamonds. There are many tips and tricks when selling jewelry, but the answer simply boils down to who will pay you the most!
Option #1. Sell to a Diamond Buyer:
Diamond buyers, like Diamond Exchange Houston, are experts when it comes to diamonds and will likely offer you the best price for your diamond jewelry. People often visit us locally to receive an instant cash offer. We inspect your engagement ring or loose diamond in front of you FREE Estimate and a same-day offer.
2. Pawn Shops:
If you need money quickly and don’t mind parting with your diamond jewelry, pawn shops may be an option. However, these types of shops typically don’t offer the best prices.
3. Online Diamond Buyers:
If you’re looking to get a fair price for your diamonds, online diamond buyers are another option. Just make sure the company is reputable and has good reviews before sending in your jewelry. Some of these companies, however, have been known to hype customers up with price hopes to get the customer to mail in their jewelry. However, once they receive it and they do their auction the amount is much less than what originally was quoted over the phone.
Auctions can be great for selling diamonds if you know the current market prices and can determine what a fair price for your diamond is. It is a fairly easy process to set up your Ebay account and start selling. If you have any luck at selling your ring on Ebay then please contact us today and start selling our jewelry on there for a commission :).
5. Jewelry Stores:
Most of the major jewelry stores in America do not buy jewelry. Many jewelry stores offer trade-ins on engagement rings if the customer buys for double the origian purchase price.
6. Facebook Marketplace:
This is a viable option to consider, but customers often do not trust the authenticity of a ring that is listed on Facebook. Safety can be another huge concern with meeting strangers in unknown places with valuables on your person.
Important Tips For Selling Your Diamond:
- Know what you have. Know the important details such as the 4 C’s about your diamond. The more information you have on your diamond the better.
- Get your diamond certified. If your diamond is not certified then it gives a diamond buyer/diamond dealer a reason to not pay you top dollar.
- Check multiple places. Get several different offers from diamond buyers. Find out who is available to pay you the most money for your diamond.
Start Selling Your Diamonds Today
Hopefully this post have given your some great insight about how to sell diamonds. The team at Diamond Exchange Houston is experienced diamond buyers and are here to help guide you in the right direction. Get started today by filling out our contact form to to get a no obligation FREE estimate on all of your diamond jewelry items.
Frequently Asked Questions:
How do I sell my diamond for cash?
How much can you sell your diamonds for?