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Who Buys Diamonds For The Best Prices?April 6, 2018 - Diamond Articles
So, who buys diamonds for the best prices? Popular diamond buyers include:
Pawn shops and jewelry stores
This is a local option that allows you to sell diamond rings or jewelry quickly and easily. Pawnshops will also pay you on the spot for your diamonds in cash.
While pawnshops may seem like tempting option, keep in mind that they do not typically have trained gemologists on staff. Since pawnshop employees lack the skill sets of GIA (Gemological Institute of America) trained gemologists, they make cautious, low offers.
Some jewelry stores may buy diamonds, but they will not necessarily buy your diamond piece. They have a limited local market and are interested in specific types of diamonds.
These are a traditional selling option for high value items. Auction houses have a team of diamond experts who can accurately evaluate and price your jewelry. The downside is that it may take a significant amount of time for your diamonds to sell. You will need to wait for an auction to be held and the right buyer to be in attendance.
Furthermore, the auction house will take a percentage of your earnings if your diamonds do sell. Auction houses are best suited for rare or extremely high-end items.
Thanks to the internet there are many websites that allow you to easily connect with private diamond buyers. With platforms such as Craigslist and eBay you can create an ad for your diamonds and set your own price. However, without industry knowledge of the second-hand diamond market, accurately pricing your diamond is difficult.
You also cannot be certain of when or if your diamond will sell. Some private buyers do not feel comfortable buying from someone without any selling history or experience with selling high-value items.
You will need to ensure that you are always cautious of potential scammers. Never to disclose any personal or banking information. Once again, this is best for those that are not looking for a quick transaction.
Expert Diamond Buyers
Expert diamond buyers, such as WP Diamonds, can provide you with a fast, honest and fair price for your diamonds. WP Diamonds has a team of GIA trained gemologists who are able to precisely evaluate and price your diamonds.
Sell online or via appointment: our service is completely safe, free and fast. The entire process can take as little as 24 hours. Best of all, there are no hidden fees or commissions that will deduct from your offer.
We pride ourselves on our first class customer service, professionalism and competitive prices. This has earned us an A+ rating from the BBB and positive reviews from hundreds of customers.
How much is my diamond worth?
Once you have determined who buys diamonds and how to sell your diamond, you will likely be looking for a price. Before you meet with a diamond buyer, it is important to understand the quality of your diamonds. Diamonds come in a wide array of shapes, colors and sizes with unique internal and external qualities. These traits will determine whether your diamonds are worth hundreds of dollars or hundreds of thousands of dollars.
The basics of diamond grading are the 4C’s:
- Carat Weight: Denotes how heavy the diamond is in unit of measurement called carats. WP Diamonds buys both diamonds set in jewelry and loose diamonds that weigh at least 0.50 ct. For GIA certified fancy natural colored diamonds, we purchase stones weighing as little as 0.20ct.
- Clarity Grade: This refers to the amount of internal/external flaws on the diamond, known as inclusions and blemishes. While a diamond may look flawless to the naked eye, imperfections can be seen under a loop. The less flaws the diamond has, the greater it is worth.
- Color Grade: This indicates how much color is present in the diamond. For white diamonds, the less color it has, the more valuable it is. Conversely, fancy colored diamonds are worth more when they display greater color.
- Cut Grade: This refers to the cut quality and proportions of the diamond. This only applies to round diamonds however, fancy cut stones (such as hearts and ovals) do not have cut grades.
The 4 C’s form the basis for ascertaining the quality of a diamond. However diamond grading and pricing is complex and extends beyond the 4 C’s. Additional factors that affect a diamond’s worth include:
- Symmetry: This denotes how well aligned the facets of a diamond are, including the diamond’s crown, culet, girdle and table.
- Shape: Diamonds are cut into different shapes with round cut and princess cut as the today’s most popular shapes. All other cuts, like pears and emeralds, are known as fancy shapes.
- Polish: This indicates how smooth the diamond’s facets are. When diamonds get cut, microscopic defects may be created.
- Fluorescence: This refers to how blue a diamond glows under ultraviolet light. Diamonds with greater fluorescence are considered to be less valuable as this can make the diamond appear milky.
- Treatments: Diamonds can receive treatments to artificially improve their appearance. Treated diamonds are less coveted than natural diamonds.
Unsure where to find this diamond information?
- Diamond certificates: If you have a certificate from a reputable diamond laboratory, such as the GIA, this details the stone’s characteristics.
- Appraisals: If your diamond has not been certified, these may be detailed on a jewelers or insurance appraisal.
- No paperwork: We recommend taking your diamond to a local jeweler to request a free verbal appraisal. This will include approximate carat weight, color grade and clarity grade at a minimum.
Who buys diamonds for the best price?
When you are selling high-value items such as diamonds, you want to work with a diamond buyer you can trust. Established in 2012, WP Diamonds is a leading online buyer of diamonds. We work with hundreds of customers every day throughout the world.
We offer a quick, easy and safe way to sell diamonds for the best prices. Sell diamond jewelry online or via appointment in as little as 24 hours. There are no fees deducted, the price we offer is the price paid to you.
We offer appointments in New York City, Hong Kong and the UK. Our modern and professional NYC offices are located just outside of the hustle and bustle of the diamond district. Schedule an appointment to sell diamonds in NYC to one of the leading diamond buyers in New York.
How to sell diamonds to WP Diamonds
Follow our 5 simple steps to sell your diamond jewelry for cash or store credit.
Complete our online
Receive your initial valuation
by phone or email
SHIP YOUR ITEMS
Ship us your items fully insured
via FedEx at no charge
or make an appointment
A member of our team will
contact you with a full
valuation and offer
GET YOUR OFFER
If you accept, payment can be
received within 24 hours