Whether you have fallen out of love, gotten a divorce or have a diamond ring that you simply don’t wear anymore, it may be time to sell your diamonds. A jeweller or pawn shop can complete an appraisal on your diamond and offer to pay for it, but what really impacts the amount of money you are offered?
This article will help you understand what buyers will look for during the appraisal process and how this will influence the price of your diamond jewelry. It will also detail the necessary steps to get the best price for your diamonds. At the end of this article, you will know how to sell loose diamonds or diamond jewelry quickly and easily.
Factors That Influence A Diamond Ring’s Resale
The diamond is the most influential factor in the value of every piece of jewelry. This means that the diamond’s conditions can greatly impact the price of the piece you want to sell. Diamond buyers will determine the value of your diamond by evaluating the diamond’s 4 C’s: colour, cut, clarity and carat. The 4 C’s are a well-known foundation practiced by every diamond buyer and knowing them can help you understand the price of your stone.
Colour of the Diamond
When you are trying to sell a diamond ring, the colour can greatly impact the diamond resale value. White diamonds are the most popular type of diamonds. Their colour grade can range from D (colourless) to Z (light yellow or brown). Typically, the absence of colour is a hint of good value to buyers, so a stone that is more on the colourless side could be sold for more money. This is not true for all diamonds, though. Coloured diamonds like blue or pink are prized possessions that jewellers will likely pay more for.
Cut of the Diamond
When selling a diamond, you may be shocked to find that prices can differ dramatically based on the cut of your diamond ring. Cut refers to the shape of the diamond and the precision of the diamond cutter’s work. The better and sharper the cut, the higher the price of your diamond will be. For example, Round cuts are typically more valued than a Cushion cut because it is more complex and requires great precision.
Stone Clarity
When diamonds are formed deep underground they are subject to an immense amount of pressure and heat. This can form marks or irregularities that a local grader can see with a magnification tool. Some examples of blemishes or inclusions are chips, cavities, graining or a small crack in the diamond. While these blemishes can help determine whether a diamond is natural or artificial, a lot of blemishes can decrease its value.
Carat
Carat is the physical weight of a diamond measured in metric carats. Carats are undoubtedly the most well-known and important factor of the 4 C’s because the larger the stone is, the more expensive it will be. However, diamond rings with a large number of carats, poor cuts and many blemishes can still be priced lower than those with fewer carats and imperfections. While carats are important, they should not be the sole thing you focus on.
Other Factors To Think About As You Sell Your Diamond Ring
You can make a lot of cash by selling diamonds based on the 4 C’s, but the market value of your diamond jewelry can also vary greatly depending on other factors. How much you originally paid, the brand and metal of your diamond rings can influence how much is offered to you.
Brand
The jeweller of your rings could greatly influence its selling price. For example, buyers may consider jewelry by luxury jewellers like Tiffany & Co. or New York Jewelers to be more valuable than those from a local jewelry store. This could be because of the piece’s expensive original cost and the brand name associated with the jewelry. To ensure that you receive an appropriate price, bring the ring’s receipt with you to your diamond buyer.
Metal Type
The type of metal that your diamonds are set in will also influence how much money you get when selling them. For instance, diamonds set in a gold ring will get higher prices than silver because gold is worth more in the current market. Rose-gold rings will also be sold at a higher cash price than silver because it is made from an alloy of pure gold and another metal.
Remember To Be Realistic About Diamond Prices
Many people resell their diamond-like to think that they will be paid the exact same amount that they had bought it for. This is a very unrealistic expectation. Diamonds never increase in value after they have been bought and sold. Just like selling a used car or television, the prices that a buyer will offer you are according to its value in the current market – not the actual market price you had paid. Although offers may not match their original cost, you can still make a profit while selling your diamond jewelry.
How To Make Sure You Get Paid The Best Price
One of the things everyone fears most when selling their diamonds is that they will only receive low prices for their high-quality pieces. Thankfully, there is a way to avoid this.
A diamond certification (also known as diamond grading) is the scientific analysis of your diamond’s quality based on the 4 C’s. Originally created by the Gemological Institute of America (GIA), this was created to certify the quality of each diamond bought and paid for. Each diamond that has been bought from a credible jeweller will have a certificate from a diamond grader organization like the American Gem Society (AGS), Gem Certification & Assurance Lab (GCAL) and European Gemological Laboratories (EGL).
Diamond grading cannot be completed by a jewelry store or pawn shop, so make sure to have your certifications on hand before you bring your diamonds to a place to sell them.
How To Sell Your Diamonds
Now that you’ve read over all of the important aspects of selling your diamonds, you may be asking yourself “How can I sell my diamond ring to earn some extra cash?”. Selling diamonds can be a fast and easy process, especially when you are prepared. Here are the steps you should follow when selling diamonds:
- Gather the diamonds you wish to sell and any receipts or certifications associated with them.
- Visit your local pawn shop for a free appraisal or contact a jewelry buyer online to learn about how you can sell diamonds to them. We recommend that you choose businesses with a Better Business Bureau rating for a worry-free selling experience.
- While an online appraisal service will typically get back to you within 24 hours of your request, a pawnshop will provide you with an offer on the spot.
- Next, it is up to you to determine whether you find the offer worthy enough to sell. Diamonds that you choose to sell will be exchanged for cash or a cheque that will be deposited immediately.
If you are looking to sell your diamond or diamond ring, contact Green Moolaa. Our Brampton pawnshop is known for its fair appraisals and quality second-hand products. Our expert staff are happy to appraise your diamonds and make an offer.
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