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How to sell diamonds for the best priceJanuary 7, 2019 - Diamond Articles
There are many reasons to sell a diamond. You may be selling a diamond ring or an engagement ring after a divorce, looking to raise cash to help fund your education or simply parting with a piece of jewelry you no longer wear. Whatever the reason, selling your diamond for the best price and to a reputable buyer will be your top priority.
Get answers to the following questions:
Is it safe to sell diamonds online?
Absolutely. As long as you work with a trustworthy buyer, the process is fast, safe and secure. The upside of selling your diamond jewelry online is that it allows you to sell to international buyers with access to global diamond prices. While you may be tempted to a local buyer, they will not likely have the expertise, buying power or industry connections to offer the best prices.
At WP Diamonds, we are professional and trustworthy diamond buyers established in New York in 2012. We now have offices around the world including in the UK and Hong Kong. We pride ourselves on our excellent customer service and offering an elevated way to sell diamonds. Our professional and streamlined service has earned us an A+ BBB rating as well as hundreds of customer reviews. There are no fees or commissions taken from our final offer and our price ranges are always honest and transparent. We fundamentally believe that the process of selling diamonds should be as professional and enjoyable as the process of buying diamonds.
Where to sell diamonds safely?
With so many different online diamond buyers available, how to choose the best one? We recommend working with a potential buyer that meets the following criteria:
- Has an A+ BBB rating
- Has credible online reviews from previous customers
- Has a physical office that you can visit
- Has been in business for a number of years
- Offers a free service, with no hidden fees or commissions deducted
- Has GIA (Gemological Institute of America) trained gemologists on staff
- Offers free returns, should you not accept your final price
- Provides free price quotes
Thoroughly research any diamond buyer before you begin working with them. Check their accreditations and reviews.
How to get the best price for a diamond?
Tips for getting the most money for your diamonds:
- Know what you have: consult any paperwork you have on your diamonds. This could be a diamond certificate or diamond grading report (GIA, AGS, EGL …), insurance appraisal or jewelry appraisal.
- Choose trustworthy diamond buyers: Work with buyers that will not lowball you once you send the diamond in. Trustworthy buyers with a strong reputation will not offer misleading price quotes and then offer low prices when you send it in. Check a buyers BBB ratings and online customer reviews.
- Work with diamond experts: Some of your local options may not have the expertise in gemology to be able to offer a strong cash price. It pays to sell to the experts. This is especially true when selling colored diamonds. Rare diamond colors such as red and blue diamonds require specialist and in depth gemological knowledge. They also require a thorough understanding of market trends and market prices.
Factors that affect the value of a diamond
Regardless of the type of jewelry that you are selling, in most cases the largest diamond will hold the bulk of the value of your piece. The selling price of a diamond will be largely determined by the 4 C’s of diamond grading:
- Carat Weight: the weight of the stone measured in carats. Frequently abbreviated to ct. Calculate the carat weight of your diamond here.
- Color Grade: color is graded from D at the top end of the scale (Colorless) to Z at the bottom end of the scale (faint yellow).
- Clarity Grade: this refers to the level of inclusions (flaws) in a stone. Ranging from IF (Internally Flawless) all the way down to I3 (Included).
- Cut Grade: this only applies to round diamonds and is a measure of the proportions of the stone.