Selling Diamonds Without Certificates

You may own diamond jewelry which you have lost the associated paperwork for, or you may have inherited a diamond and have no idea what the characteristics are. If you are in this situation, how do you go about selling it when most companies need to know the characteristics of the diamond before giving you a price?
The first and most important step is to confirm that your item actually is a diamond. It would also be beneficial for you to learn more about your item before you sell it, as understanding the characteristics of your jewelry will make it easier for you to shop around and get the best price for your item. In the next article, we outline the main diamond characteristics so that you can better inform yourself.

If you would like to obtain some paperwork for your diamond, there are two main options available to you; you can either certify your diamond by obtaining a grading report for a gemological laboratory, or obtaining a jewelers appraisal. Below we outline the advantages and disadvantages of both options for you.

1. Certifying your Diamond Independently:

If you would like to certify your diamond, then we recommend you send the diamond to a reputable Gemological Laboratory such as the Gemological Institute of America (GIA) or European Gemological Laboratory (EGL USA). These Gemological Laboratories analyze each diamond individually and grade according to their specifications, producing a grading certificate also known as a Diamond Grading Report.

The Advantages?

A Certificate will provide you with all the characteristics of your diamond. This will allow diamond buyers such as WP Diamonds to be competitive when pricing your stone, as the certificate will eliminate any ambiguities about the stone, in turn offering you a more accurate initial valuation.

The Disadvantages?

Depending on the laboratory you choose and the size of your diamond, the process can be quite costly (approximately $150) and take a minimum of 3 weeks not including the time it takes to sell the stone.

It is always important to remember that obtaining a certificate does not guarantee an increase the value of your diamond, however it will allow you to get the most competitive price for your diamond. A GIA certificated diamond with an ‘Excellent’ cut grade can carry a premium of up to 30%. Upload your certificate here to get an initial valuation from WP Diamonds: support@wpdiamonds.comor contact us on +1 646 758 0270.

2. Getting a Jewelers Appraisal:

Jewelers can provide both written and verbal appraisals. An appraisal represents the Jewelers opinion of the stones’ characteristics, usually providing an estimated retail value.

The Advantages?

You can get an appraisal completed the same day in most areas of the country. An appraisal might reveal if the diamond has a lasered certificate number on it, which may mean it has been certified by a laboratory at some point, helping you to get more accurate assessment of your diamond. An appraisal could also provide some guidance of the important characteristics of the diamond such as the carat weight, color and clarity. These characteristics are necessary for you to get comparable prices when shopping around. Having some documentation also allows the buyer to insure the item correctly during transit.

The Disadvantages?

The information found on a jeweler’s appraisal represents the opinion of that particular jeweler which may not align with the strict grading standards of the laboratories listed in our first article, WP Diamonds or another diamond buyer. An appraisal provides a New Replacement Value for insurance purposes, not a re-sale value. If the intention is to sell this item then keep in mind that this value will never be achieved when you come to sell the item. Jewelry appraisals can cost around $100 or a percentage of the item's value. The document will not increase the value of your item, but give you the information you need to market your item more accurately.

Do you have a jewelry appraisal? Upload your Jewelry Appraisal here to get an initial valuation from WP Diamonds: support@wpdiamonds.com

A final option of course, is to sell your diamond jewelry without any documentation.
You may choose to sell your diamond jewelry to a trustworthy company like WP Diamonds and feel it unnecessary to know all the details of your jewelry item before you sell. It is important to understand that in this particular situation, anyone serious about paying the best price for your diamond jewelry will want to see it before they buy it, and will buy based on their own criteria, with or without documentation.

WP Diamonds prefers to give an initial value before an item comes into us, but without some specific information such as carat weight, color and clarity of the diamonds, we will not be able to do that. Without an initial valuation we are not insured to send you a FedEx pack to send your item into us, so you will need to send then item to us yourself.
You can send your diamond directly into WP Diamonds. Our diamond experts will give you a no obligation offer over the phone or by email. Once the offer is agreed, the money will be in your bank account within 24 hours. If you decide not to sell, we will send the item back to you immediately. Alternatively, you can make an appointment to come into one of our offices and get an offer there and then.

Contact a member of our team to get started! support@wpdiamonds.com or call + 1 646 758 0270.

Click the links below to read more articles:

Understanding Diamond Certificates

Understanding Jewelry Appraisals

Diamond Valuation Guide

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WP Diamonds » Diamond Valuation » Selling Diamonds Without Certificates
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