According to some people, diamonds are forever. However, there will come a time that you eventually have to sell it due to a variety of reasons. The usual diamond types that people sell are either old engagement rings or pairs that you don’t feel like using anymore. Another reason why diamonds are being sold is that they’re more feasible to the economy rather than just storing them in a safe where it will serve no use.
If you also plan on selling your diamonds, you shouldn’t just do it right away without the proper knowledge on how to do so. It is ideal that you do your homework first before selling them so that you will know where you can get the best value for your beloved stone. So check out this guide we provided to help you on the proper process of selling your diamonds the right way.
Find an appraiser – If you want to know the current value of your diamond in the market is to find an appraiser who will help you finalize its maximum price. There government agencies available who can help you out with that. You can also do a research of your own regarding the price so that you will have an idea if your chosen appraiser is also providing you with the same or a closely related amount.
Ask the agency for a wholesale sheet – Agencies usually have a wholesale sheet wherein they keep track of the prices that they pay for the diamonds. It will help you know the real value that your diamond has accumulated over the years. This will also serve as a great reference for the estimated price.
Try selling it to a jeweler – If you are not cool with having an agency selling your diamond, perhaps you can also try seeking a jeweler for it. However, you should be careful in selling your diamonds there because they will always ask for a bargain price. The best way to approach this method is that you start canvassing and comparing the prices offered by different jewelry stores. Their prices may vary, but at least you will be able to get a good idea as to which one has offered the biggest and lowest prices. Whichever offers you with the most reasonable price will surely be a good candidate store to sell your diamonds.
Show the appraisals provided by agencies to the jewelry stores – The most common offer that jewelers provide is somewhere below the “dump value” wherein you can’t benefit too much from it. For you to be in the know, a dump value is a value given that ranges somewhere 60% to 80% of the maximum appraisal value. In short, this is the lowest value that you may even get for your precious diamonds. Keep in mind that jewelers are in it for the business so they will always find new buyers to sell your diamonds then earn a lot of profit from it. So the best way to avoid being given a dump value is for you to bring a copy of the appraisal provided by the agency before you settle on selling it. That way, you will be getting good value from your precious diamond.