Here are some steps to consider when selling diamonds yourself.
First off you need to get an honest appraisal.
Just like going to a doctor for treatment, it's wise to get a second or even a third opinion.
Knowledge is power and you can never have too much information.
You want to get the most accurate valuation as possible.
Tell you appraise that you want the Rapaport Value.
This is the industry standard way of pricing diamonds and will give you the most accurate wholesale price.
If you don't don;t have a certificate it may be worth obtaining one from the GIA so you have proof of its authenticity.
This will often cause buyers to pay a premium price as they know they are getting the real goods.
Once you know the true value of your diamond you may want to try and sell it yourself.
There are lots of ways to do this.
You can approach friends and family first.
If you have no luck you could try one of the online auction houses.
Sites like eBay are a great way to find interested buyers.
You can protect yourself by having a reserve price which reflect the appraisal value.
This way you won't lose out if the auction doesn't raise a lot of interest.
Other sites like Craigslist offer free classified advertising in just about every major city in the US.
One thing you must absolutely avoid is the pawn shop.
Although you can get your money instantly, you will probably only see about 10% of it's true value.
All the rest of the profit goes to the pawn broker who will be happy to take it off your hands.
If your diamond is of some considerable value, or it has some historical importance, you should probably consider selling it through one of the major auction houses.
The big hitters like Sothebys and Christeies will take a sizable commission from you but the upside is that their buyers will be prepared to pay top dollar if your diamond is of any note.
Your final option is to sell your stone to a jewelry store.
Always choose a vendor that is reputable and has been in business for many years.
Unscrupulous jewelers have many techniques that could leave you seriously out of pocket.
A common swindle is to swap your diamond for one of lesser value when you are not looking.
Never let your diamond out of your site, even for a second! If the jeweler is reputable and honest, they will probably offer you between 60%- 80% of the Rapaport value.
If it's any less that this then you will probably want to carry on looking for a buyer yourself
First off you need to get an honest appraisal.
Just like going to a doctor for treatment, it's wise to get a second or even a third opinion.
Knowledge is power and you can never have too much information.
You want to get the most accurate valuation as possible.
Tell you appraise that you want the Rapaport Value.
This is the industry standard way of pricing diamonds and will give you the most accurate wholesale price.
If you don't don;t have a certificate it may be worth obtaining one from the GIA so you have proof of its authenticity.
This will often cause buyers to pay a premium price as they know they are getting the real goods.
Once you know the true value of your diamond you may want to try and sell it yourself.
There are lots of ways to do this.
You can approach friends and family first.
If you have no luck you could try one of the online auction houses.
Sites like eBay are a great way to find interested buyers.
You can protect yourself by having a reserve price which reflect the appraisal value.
This way you won't lose out if the auction doesn't raise a lot of interest.
Other sites like Craigslist offer free classified advertising in just about every major city in the US.
One thing you must absolutely avoid is the pawn shop.
Although you can get your money instantly, you will probably only see about 10% of it's true value.
All the rest of the profit goes to the pawn broker who will be happy to take it off your hands.
If your diamond is of some considerable value, or it has some historical importance, you should probably consider selling it through one of the major auction houses.
The big hitters like Sothebys and Christeies will take a sizable commission from you but the upside is that their buyers will be prepared to pay top dollar if your diamond is of any note.
Your final option is to sell your stone to a jewelry store.
Always choose a vendor that is reputable and has been in business for many years.
Unscrupulous jewelers have many techniques that could leave you seriously out of pocket.
A common swindle is to swap your diamond for one of lesser value when you are not looking.
Never let your diamond out of your site, even for a second! If the jeweler is reputable and honest, they will probably offer you between 60%- 80% of the Rapaport value.
If it's any less that this then you will probably want to carry on looking for a buyer yourself