Selling Diamonds: What you should know

When you decide it’s time to turn your diamonds into cash. There are certain you should do and know about diamonds before selling them:

Clean your diamonds: Clean your diamonds, so it shines. It is always said “First impression is the last impression”. So clean them properly before selling them.

Know about 4C’s of the diamond: Cut, clarity, color and carat, these four factors determine the value of your diamonds.

  • Color: Diamonds are graded using a color scale that ranges from D to Z. The closer you are to D, the expensive is your diamond.
  • Clarity: All diamonds have imperfections known as inclusions. The clarity grade is based on how many inclusions the diamond has. Fewer blemishes, the expensive are your diamonds.
  • Carat: Determine the carat weight of your diamond.
  • Cut: It is a style or design guide used when shaping a diamond. It does not refer to shape but the symmetry, proportioning and polish of a diamond.

Get your diamonds appraised: An appraisal is the replacement value of the diamond. To get an appraisal, take the diamond to the jeweler who sold you the diamond or you can also go to an independent jeweler.

Certification of the diamond: Know the certification of your diamond. This will raise the value of your diamond. If your diamond is GIA certified, then you can get a good amount of money.

Research how you can get the highest price for your diamond: Contact online buyers or a local pawn shop. You can also go to diamond forums and see what they suggest you.

Whom to sell: After the research, decide where you want to sell your diamond. Make a list of companies you find reliable and reputed. Check about their backgrounds. Read their reviews and then decide on one name. Sell it to someone or somewhere you trust and feel comfortable with, so take your time with this decision and shop it around.

Also consider whether the buyer is paying you shipping and insurance cost and what is the mode of their payment. If you are not satisfied with the deal, walk away. Visit another buyer and try and strike a deal.

There are many online buyers that buy loose diamonds and offer you good payouts, but make sure you have carefully checked their backgrounds so that you don’t fall prey of false claims.