Getting Full Value for Your Diamond

Victoria Robinson/ October 8, 2017/ Jewelry

Diamond is highly prized in the world market. In the recent past, the demand for retail diamond jewelry has been on the increase as sticker-shocked jewelers preferring to restock diamonds from the general public other than buying from wholesalers. However, in the wake of this development selling diamonds can be quite hectic since unlike other gemstones or gold the resale price of diamonds lacks a specific objective measure or quantifiable melt value. Faced with this complexity, inexperienced sellers can easily be overwhelmed or confused ending up undervaluing their diamond. The GIA Price helps us determine the price of diamond. Hence, the following tips will assist one to get the full value of their diamond;

Know what you get

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To get relatively fair value for your diamond, it is important to trace the quality and authenticity of the diamond. Using the services of a qualified appraiser gives an unbiased valuation of the diamond based on the stone’s characteristics and present condition. However, while some people like evaluating offers from various diamond buyers or pawn brokers for their diamond this gives a rough indication of the market value and the seller gets to sell to the highest bidder.

Setting realistic price

The price expectation of the diamond should be very realistic. This ensures that the seller does not get disappointed from the ultimate sale that does not meet their value. Therefore, it is prudent to familiarize oneself with the current market trends and market valuation on the diamond which informs on the potential resale value. Moreover, by researching in various trade platforms, one can get comparable prices for the diamond, especially for pre-worn jewelry.

Investigate selling options

Diamond resellers have two open options that are either sell their diamond stones to players in the jewelry industry or sell to the general public in auctions. Choosing the best buyer is a process that involves how safe and how best reclaim your previous investment in your diamond. Moreover, this dictates the sale process on how it easy to settle a deal without lengthy negotiation or marketing. Selling in auctions or to jewelry dealers involves saving time and getting relative value from the value of your diamonds. However, members of the general public may pay more for the diamonds especially in an auction set up hence it is also worth a trial.

Detach emotions from the diamond

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Being ready to sell is also a great consideration especially for the highly prized diamond possessions. Therefore, to settle to a sale deal fast, one has to detach emotions from the diamond which allows for the buying process to take place.