Diamonds are universally considered a token of wealth and romance. The love and demand for diamonds is escalating among the middle class, especially in countries like India and China. Diamond prices are soaring. Many people are willing to sell off their diamonds, be it loose diamonds, earrings, engagement rings or inherited heirlooms. The reasons could be many- it is a quick way of coming out of a cash-strapped situation or people may want to sell jewelry that was once loved, but is now stashed away in drawers and lockers. One may find several jewelry stores and websites that buy diamonds along with gold and other precious metals. But unlike gold, diamonds do not have a quantifiable melt value and therefore the resale prices cannot be measured objectively. This makes the process to sell diamond even more confusing and overwhelming.
Points to be considered before you sell that precious stone:
• Get an accurate, unbiased opinion from a qualified appraiser or professional diamond buyer about the authenticity and quality of the diamond.
• Get a few opinions, visit a couple shops and get online quotes before making a decision.
• Keep a realistic potential value in mind.
• Compare resale prices of diamonds with similar quality on online sites.
• Before dealing with a jeweler or company, check their ratings and reviews with the Better Business Bureau.
There are two selling options. You can either sell diamond to the jewelers- at a retail or online store, or to the public. Online classifieds are also a good platform for finding potential buyers. It is important to deal with someone you trust. You can list your diamonds or jewelry at online auction sites, with description and pictures. Some websites ask buyers and sellers to send the diamonds and money to the site and hold the money till the diamonds are authenticated and appraised by an independent gemologist. Money is released only after certification and the website charges commission on every deal.
Several online sites offer good prices for diamonds. The process is simple – The seller needs to fill up an online valuation form with detailed characteristics of the diamond. Factors that determine a diamond’s value are the carat weight, color, shape, clarity and cut. On the basis of this information the website sends an initial valuation quote through email or phone and sends you a pre-paid shipping package. If you like the offered price, the next step is to send in your diamonds or jewelry to the online company for the final, expert appraisal. After valuation, they offer a price which may be accepted or denied by the seller. If accepted, money is directly transferred to the seller’s bank account. To get a fair price for your precious stones, remember to do your homework- ask for quotes, and compare deals to make a prudent decision.
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