4 Tips for Selling your Diamonds

1. Understand what Diamond you have

Because your Grandmother said her old diamond ring was valuable, that does not mean that it is, it also does not mean that it is even an actual Diamond in the first place. So, before you rush to market, get an accurate picture of its quality and authenticity. A qualified appraiser can give you an unbiased opinion of the stone’s characteristics and condition, and highlight positive and negative attributes that could affect its value.

But spending money on a formal assessment isn’t always necessary. If you’re short on funds and the diamond is likely to not have a high value, have the stone evaluated for free by Point Jewellery Exchange. Visit two or three shops to get a range of opinions; in the end, you’ll have a solid idea of the specifications and value of your stone.

2. Set a realistic price for your Diamond

Having unrealistic price expectations for your diamond is the fastest way to disappointment with any ultimate sale. If having an appraisal, ask how much the stone might be worth in specific markets and circumstances. A good appraiser follows current market trends and can help you understand the potential resale value of your diamond.

Alternatively, do the legwork yourself. Look at prices of completed eBay sales for diamond jewellery with similar characteristics; check out comparable new diamonds in retail stores and online, and factor in a discount for your pre-worn jewel.

3. Investigate your Diamond selling options

Resellers of diamond jewellery have two options: sell to the jewelry industry or to the public. Choosing a buyer isn’t always about getting the top price, but is often a function of how quickly you can sell your diamonds.

The primary advantage of selling to someone in the jewellery industry is time. If you want to sell quickly and safely with little fuss, come to Point Jewellery Exchange.

4. Be emotionally ready to sell your diamonds

Because diamonds are often symbols of passion or love, they can be harder to part with than any other piece of jewellery. Sentimental value may raise the price of the diamond in your eyes, but a potential buyer won’t be so moved.

On the other hand, if you’re considering selling diamond jewellery whose sentimental value has diminished but you’re still clinging to memories, Christine Clifford offers this piece of advice: “Recognize that while it was a part of your life at one time, and most likely represented someone or something important to you, you need to move on. Diamonds are only material things. Your peace of mind is more important.”