Across our blog and Diamocycle Diamond Guides, we’ve discussed the many reasons and ways you might decide whether to sell a used loose diamond or sell diamond jewelry. This comprehensive guide covers various aspects of how to sell diamond, offering valuable insights into the process. We’ll begin by discussing why I should sell my diamonds, then we’ll delve into understanding what’s the best place to sell a diamond ring. Whether you’re a first-time seller or looking to upgrade your knowledge, this guide has you covered.
Once you’ve made the decision to sell a loose diamond or diamond jewelry, the question is always the same: where and how to sell your diamond? Do you sell your diamond for cash? How do you attract the right diamond buyer? Do you sell your diamond jewelry online? What’s the best way to sell a used or second-hand wedding ring? We’ll explore each option in detail, discussing the pros and cons and helping you determine the best place to sell a diamond ring based on your preferences and circumstances.
In this definitive guide on How to Sell Your Engagement Ring to Diamond Buyers, we run through the advantages and disadvantages of various diamond retailers, along with offering our expertise on the best place to sell diamond jewelry and how to get the highest price for selling your diamond jewelry. We’ll share practical tips on how to sell diamond effectively, covering everything from pricing strategies to negotiating tactics.
That said, before you begin bargaining, first, you’ll want to consider your options on where to sell your diamond jewelry:
The Changing Tides of Selling Diamonds
It’s long been in the interest of the diamond industry to dissuade consumers from re-selling their diamond rings. Keeping diamond rings off the resale market limits supply and allows diamond providers to keep their prices high.
In addition, the difficulties of safely selling diamonds rings to reliable buyers in one’s own community also posed a significant barrier to selling. You might be asking yourself, is it really worth it to sell my diamonds? The answer is yes. With the growth of online shopping and reselling, selling a diamond has simply become easier and the route of selling a diamond or diamond ring online has become one of the most popular and eco-conscious ways to alleviate yourself the bother of selling diamond jewelry or your loose diamonds.
As a bonus feature, we have added our 2022 Guide to Selling a Diamond Online, we’ll share with you some pro tips for selling your diamonds, what to consider when looking to sell your diamonds online, and what’s the best place to sell a diamond ring. As a bonus, we’ll be discussing what we consider a diamond-grade process for selling your diamond to a buyer online.
WHAT TO KNOW BEFORE SELLING YOUR DIAMONDS
It might sound obvious, but be emotionally ready to sell your diamond engagement ring online.
Over time the sentimental value a loose diamond, diamond ring, or diamond jewelry accrues is often far greater than its accrued actual value. Given this additional variable, we often encourage first-time diamond sellers to make sure they’re truly ready to sell their diamond before asking for an estimate or proceeding with the process.
Unfortunately, diamond buyers cannot take your emotional investment in your diamond into consideration, which might make you wonder, ‘why did I even think I should sell my diamonds?’. Don’t be discouraged, try to detach yourself from your diamond if you truly want to be successful in selling loose diamonds online or a diamond ring.
It is nearly impossible to make a profit selling a diamond you bought for a retail price.
While the myth of investment diamonds has persisted, it is often very hard for the average consumer to make a profit on a previously purchased commercial diamond or engagement ring. While the base value of diamonds has increased across the decades, the in-store mark-up of any retail diamond is so significant, that any increase in the value of a diamond will be negligible compared to the loss you will incur when selling a retail diamond or engagement ring back to a local retailer.
To elaborate further, it’s essential to consider how to sell diamond from the perspective of the retailer: they need to cover their business expenses, overhead, and overall costs. To do so, they purchase a loose diamond or a piece of diamond jewelry at a base or wholesale price, which they then mark up to make a profit on such a transaction. When you resell a diamond ring, your buyer will often only pay you a fraction of its wholesale cost (which does not include its full wholesale value or the commercial mark-up you paid when you purchased the diamond). As a result, the selling price of your diamond is going to be limited to far under what you paid for your diamond.
For reference, we encourage you to keep in mind that the retail mark-up of engagement rings can range from anywhere between 30-100% of the wholesale price of the piece.
LONG-STANDING RELATIONSHIPS ARE KING IN THE DIAMOND WORLD
Even if you’re satisfied selling your diamond at a wholesale price, odds are still high that a retailer won’t even offer you a standard wholesale price as they can get a diamond with your diamond’s specifications from a vendor they trust at that wholesale price. Instead, to mitigate the risk of buying from an unknown entity (you) – the price you will be offered for selling your diamond jewelry or loose diamonds will be significantly below wholesale market value.
SELLING YOUR USED DIAMOND TO A JEWELRY STORE
As jewelry stores have a rather stagnant inventory (especially in COVID times) and often hold their inventory for a very long time, many jewelry stores may not have the cash flow to offer you a fair market price, making you realise that they might not always be the best place to sell a diamond ring.
That said, the advantage to selling your used diamond ring to a jewelry store is the immediate pay-off of same-day cash-in-hand. If you’re in need of immediate cash, it might be worth visiting a local jewelry store that buys diamonds and second-hand engagement rings.
That said, if you’re your loose diamond or diamond jewelry to a jewelry store, we strongly recommend working with a trusted jeweler and getting multiple (at least three!) sale quotes to ensure you’re getting a fair value for your loose diamond or diamond ring.
That said, please note that jewelers may not want to honor a previous quote or offer from another institution, and may commit to less if you return after having received other quotes. It’s also worth knowing that jewelers will often take your loose diamond or diamond jewelry and sell it to a wholesaler overnight in an effort to get their working capital, which might not be an ideal situation if right now you’re thinking, ‘where do I sell my diamonds?’.
With all of this in mind, we strongly recommend that you know who you’re working with, and that you know the value of the wedding ring set or loose diamond that you have, especially if it’s over 1 carat.
DIAMOCYCLE SELLER SCORE: 2/10
SELLING YOUR USED DIAMOND TO A PAWN SHOP
To start, pawn shops are in the business of giving loans. When considering a Pawn Shop as a place to sell your loose used diamond or engagement ring, we strongly recommend you to remember that pawn shops are in the loans business, not in the business of being ethical buyers of diamonds. A pawn shop is far from ideal in terms of the best place to sell a used ring or piece of diamond jewelry.
The way pawn shops make money is not by evaluating and reselling diamonds, but instead by offering loans on valuable items. With that in mind, they do not have the staff or the business orientation to evaluate your stone or pay you a fair market price.
While some pawn shops have retail jewelry departments and trained gemologists, and may, as a result, be able to offer you a slightly higher offer, this type of pawn shop is rare, and by no means, a guarantee that you will get the best resale value for your diamond. In addition, these shops, at best, employ a very basic formula based on the size of your loose diamond or diamond jewelry and do not take into consideration the variety of conditions and attributes that should be considered when selling your used diamond ring and getting a fair offer for your loose diamond or diamond jewelry.
Overall, we seek to discourage you from selling your second-hand diamond to a pawn shop, unless you have very limited options in your area and need the benefit of immediate cash that brick and mortar businesses offer, since we discussed so far how they might not be the best place to sell a diamond ring.
DIAMOCYCLE SELLER SCORE: 1/10
SELLING YOUR USED DIAMOND TO A FINE AUCTION HOUSE
In this section, we discuss the possibilities and merits of selling your loose diamond or diamond jewelry to a fine auction house, such as Sotheby’s and/or Christie’s. (We’ll discuss online auction options, such as EBay, next.)
If you have a truly exceptional piece of high-value rare diamond jewelry (something in the appraised value of $100,000), we would say that pursuing the fine auction house avenue is not a bad idea if you’re considering how to sell diamond. Diamond dealers and elite diamond buyers have been known to buy large and important loose diamond or diamond jewelry at these auction houses.
The pros of an auction house are that you are exposed to wealthy buyers, and the auction house will handle appraising, certifying, and marketing the sale of your diamond, creating the potential of selling your diamond for a high price.
If you’re approaching an auction house, we strongly recommend having a GIA Certificate, a detailed record of provenance (box, purchase receipt), and any past appraisals handy to help you get the full resale value of your wedding ring, loose diamond, or diamond jewelry.
Generally, auction houses can charge both the seller and the buyer of the piece a fee, depending on the sale value of the diamond. We strongly recommend researching past auction house sales for pieces similar to your diamond to get an idea of what your ring might sell back for.
As you may know, large and important diamonds are similar to pieces of art, and can be sold and handled by auction houses for a well-facilitated trade, in a market that is quite distinct from commercial diamond jewelry. That said, if your piece merits the attention of a fine auction house, we recommend you proceed, with caution.
DIAMOCYCLE SELLER SCORE: 7/10
SELLING YOUR USED DIAMOND TO AN ONLINE AUCTION HOUSE
Online diamond auctions for consumers are an interesting way to connect diamond sellers and diamond buyers. Please note, that this section is addressing not EBay, but rather more specialized diamond-specific places to sell your diamond or wedding ring online.
In these contexts, we recommend you to keep the following options in mind if you’re wondering, ‘how to sell my diamonds?’. Often, the seller or online-auction space will remove the diamond from the piece and have the loose diamond independently-certified to assure its quality. As removing the jewel from its setting can often damage the setting or the jewelry piece, we recommend understanding what happens if your diamond is removed and your diamond ring is not sold.
In addition, we strongly recommend that you understand the auction site’s fee structure, how they have served past clients, and what their procedure is if any damage is incurred in the removal of the diamond, or, if after removal, the used diamond is not sold.
While these are some of the obvious cons of selling your second-hand diamond online via an online jewelry auction, it is also a beneficial space as it connects a seller to multiple buyers. That said, it is absolutely worth keeping in mind the site’s fee structure, the time it might take to find a seller, the inherent fluctuations in resale value depending on demand and who sees your listing, and the fact that there is always the uncertainty that a bidder may not be able to meet the price they have bid. A question worth asking the auction site is what happens if a buyer cannot commit to their stated auction price for your engagement or wedding ring.
Lastly, we’d also like to remind you that used diamond buyers are coming to an online auction price to get a good deal, which means it is unlikely you will receive the full market value for your stone, despite potentially having an accessible way to share your loose diamond or diamond jewelry with multiple sellers.
While many online diamond auctions are seen as highly reputable, insured, and have long track records of exposing buyers to sellers worldwide, these sites are generally not open to the public unless you are a member of the jewelry or diamond trade and have been vetted by the company conducting the auction. With that in mind, auctions in theory are lovely, but in practice, they offer as much pitfall as they do potential.
DIAMOCYCLE SELLER SCORE: 6/10
SELLING YOUR USED DIAMOND ON EBAY
While EBay may seem like an amazing intersection of accessibility and reliability, we recommend EBay to the average user with several large caveats.
EBay has over 1 million pieces of jewelry listed. Many of these listings have the backing of specialized companies or accounts with their own offerings of professional photos, strong sales track records, and often the ability to offer an appraisal or GIA report with purchase. While this might signal that EBay is the perfect place to sell your diamond online, we strongly recommend remembering that all these sales and professional-looking listings are now your direct competitors. Given that fraud is an issue on EBay, especially with online diamond sales, most buyers feel more comfortable buying loose diamonds or diamond jewelry from a vendor with a long-track record of success or a more specific jewelry resale site. Likewise, if you’re a first-time online seller, we would also caution you to be on the lookout for fraud via your buyers as well!
Which is to say, if you already have an established track record of selling on EBay, this could be a great option. Otherwise, we think your chances of successfully selling your diamond online on EBay will unfortunately be slim, given both the newness of your account, the high value (and potential of fraud!) for your diamond, and the fact that your limited history will make selling your wedding ring set or diamond jewelry extraordinarily difficult.
While EBay does sell everything, it doesn’t mean it’s the best place to sell a diamond ring.
DIAMOCYCLE SELLER SCORE: 4/10
SELLING YOUR USED DIAMOND ON CRAIGSLIST
While it is possible to sell back a diamond online on Craigslist, we do not recommend it in our guide on how to sell diamond. Similar to EBay, our top concerns are your own safety in selling your loose diamond or diamond jewelry, the time spent marketing and selling on the platform, and the process of getting an independent appraisal in order to offer the piece for sale.
Beyond that, if you’re not in the diamond trade, setting a price that honors the value of your diamond and also makes it accessible for Craigslist might be rather challenging. In regards to setting a price, we suggest asking a jeweler, assuming you can answer yes when you ask yourself ‘Do I trust them to sell my diamonds?’.
Given that Craigslist purchases often happen in-person, we strongly recommend that you are wise and take the utmost precaution if you take this route to selling your wedding ring set or second hand diamond jewelry. In addition, if you use PayPal to fund your purchase, we strongly encourage you to protect your transaction in all and any ways possible.
DIAMOCYCLE SELLER SCORE: 4/10
SELLING YOUR PREOWNED DIAMOND TO A PRIVATE INDIVIDUAL
If you have a friend or a friend of a friend getting married or in search of a loose diamond or diamond ring, this could be an amazing way to sell a wedding ring, loose diamond or piece of diamond jewelry.
We strongly recommend getting your wedding ring set or diamond jewelry appraised for a fair secondary-market price. At the diamond appraisal, we recommend asking the gemologist what they would sell back the loose diamond or diamond jewelry for were it in a consignment case, which will often be less than the new piece of jewelry.
A Quick Reminder: You are unlikely to ever recoup the cost of a new loose diamond or piece of diamond jewelry. While unfortunate, it’s the sad truth of modern commercial diamonds. The best thing you can do is simply try to limit your loss.
With this in mind, a private individual can be a great way to move a loose diamond or piece of diamond jewelry on and maximize your resale value, putting this method on the list for the best place to sell a diamond ring. When selling to a private individual, make sure that you are not liable for charging or reporting sales tax, or, if you are, make sure you do so accordingly.
In addition, we again warn you to be careful in regards to your personal safety. As well you can imagine, it can be potentially dangerous to sell a high-value piece to someone you don’t know. That said, we estimate you should be safe if you are selling a diamond within your social circle to a friend of a friend.
While seeing a piece of jewelry from a divorce worn by a close friend may be socially complicated, we imagine that selling a second-hand engagement ring to a friend of a friend (or someone who has a degree of separation from the event might lead you to sell a diamond) is hopefully far enough removed to spare any social friction and close-enough to guarantee you a great price and a simple transaction.
Overall, selling a loose used diamond or piece of diamond jewelry within your social circle is a strong and fairly safe way to get the most for an engagement ring in the resale market without paying a middle man, auction house, jeweler, or pawnshop. While it may take some time and a bit of legwork, we think this is a strong way to sell diamond jewelry with a high potential for recouping the cost of the diamond.
DIAMOCYCLE SELLER SCORE: 8/10
With all these options articulated, you may be asking yourself what is the Diamocycle 10/10 Recommended Way to sell a diamond?
Unsurprisingly, we think Diamocycle is the safest way to get the highest offer when selling your diamond.
SELL DIAMOND ONLINE?-OUR 2022 GUIDE-BONUS CONTENT
We often hope that diamonds (and the relationships that bring them) are forever. That said, whether it be through the end of a relationship, an inheritance, or some other life event, we frequently end up with diamonds that we no longer want, and you might end up asking yourself, ‘how do I sell my diamonds?’.
That’s 100% okay. There’s never any shame in selling your diamonds ring. That said, as selling diamond rings is not as straightforward as selling gold, we, at Diamocycle, are pleased to offer you our Diamocycle Guide to Selling Your Diamonds Ring Online. For our complete Guide to selling a used diamond start here. https://www.diamocycle.com/a-guide-to-selling-your-diamond
THERE IS A SOLUTION: SELL MY RING ONLINE
Given the above-stated facts of the diamond industry, how to sell diamond rings online can seem daunting, if not impossible. That said, with the rise of online shopping – we strongly encourage you to turn to a corner of the diamond industry that doesn’t have to contend with paying for retail spaces or as much overhead as your traditional jeweler: the online diamond marketplace – the absolutely best place to sell a diamond ring.
That said, selling diamond rings online can seem opaque and intimidating. Read on to discover our tips and tricks for getting the best price when selling diamonds online.
To get the full lay of the land of all the various ways and places you can sell your loose diamonds or diamond jewelry, check out our Diamocycle Guide to Where to Sell Diamond Jewelry.
SELLING DIAMOND RINGS ONLINE: OVERVIEW
Here’s the secret of how to sell diamond the best way possible. We believe you will get the highest amount to sell your diamond engagement ring online. It will not be Cash in hand today, but you could get 2X more money. So, if you can afford to wait for the payoff, it is worth it.
Simply put, selling your diamond engagement ring online offers you a level of exposure and expansion of a selling audience that a brick-and-mortar store cannot match. In addition, by sharing your loose diamonds or diamond rings with an online audience, you’re increasing the exposure of your diamond rings for sale beyond your immediate community and increasing the inherent demand for your diamond rings.
The increased exposure your diamond receives with an online audience and the ability to share your ring beyond your current geography are two compelling reasons you should strongly consider fine jewelry resale online.
Lastly, given the in-person selling options, our highest recommendation is to sell to someone you know. This type of personal network connection isn’t excluded when you sell online. You can even expand your reach by marketing to your private network by making an online post.
What to Look for in an Online Ring Buyer
No matter where and how you sell your engagement ring online, we recommend you aim to sell with an option that offers the following things:
1. Free & Insured Shipping and Return Shipping
Not all online diamond buyers are created equal. Therefore, we encourage you to look for online diamond resellers who will insure the shipment of your diamond. Also, cover your incoming diamond shipment. Finally, offer an option for return shipping should you decide not to sell your diamond to them.
2. Top-Quality Customer Service
While diamond rings grace the shelves of various merchants – from Pawn Ships to Tiffany & Co. Jewelers, you can decide what type of online merchant you’d like to sell your diamond to. While sentimental value cannot factor into the amount you’ll receive for your diamond, you can at least decide to work with a vendor who treats you with respect and offers a confidential, luxurious selling experience, so you can feel confident when you ask yourself, ‘is this how I sell my diamonds correctly?’.
3. The Option to Work with a Gemologist / Years of Experience in the Industry
It’s always essential to know the 4Cs of your diamonds (color, cut, clarity, and carat). Beyond that, we strongly recommend selling your used diamonds to an online diamond buyer that likewise can align with the specifications of your diamond jewelry or loose diamonds. The more your online diamond buyer knows and understands the value of your diamond, the better the price you’ll be able to receive for your loose diamond or diamond jewelry.
4. A Clear and Transparent Process
We agree that dropping a diamond engagement ring in the mail to an online diamond buyer you’ve never met can be a daunting prospect. With that in mind, we strongly encourage you to only work with online vendors who offer a clear and transparent process. Along with insuring your package, you’ll want to understand what happens should you decide not to sell your diamond. Beyond that, we encourage you to fully understand any fees or charges that may arise through the diamond evaluating and selling process.
5. A Respectful and Timely Exchange
Beyond that, we encourage you to enter into a conversation with your online diamond buyer. Be clear with them about your hopeful price range that you’d be willing to sell your diamond and the anticipated timeline you’d prefer for receiving your funds. By making sure all parts of your online selling process are clear, you establish trust and set yourself up for success.
SELLING DIAMOND RING ONLINE: AN ONLINE POST TO YOUR SOCIAL NETWORK
One of the most profitable ways to sell your engagement ring is through your community and network – it’s surely a solid candidate for the best place to sell a diamond ring.
We encourage you to make an online post and share it with your community to increase your sales awareness and exposure. You don’t have to worry about any overhead or bureaucracy in selling your diamond by creating your post. However, we encourage you to be cautious in transferring your used diamond to its new owner. Whether you’re doing so by mail or in-person, as you’re conducting the sale yourself – your safety and the safety of your stone are in your own hands!
DIAMOCYCLE SELLER SCORE: 9/10
SELLING DIAMOND RINGS ONLINE: VIA PEER-TO-PEER MARKETPLACES
The value of selling online to your network is that you have previously accumulated social capital to keep creating trust and support a high sale price of your diamond.
When you sell via an online peer-to-peer marketplace that includes an online audience outside your immediate network, you no longer have the social capital and trust to ask for the highest price for your diamond.
While we encourage you to consider selling your engagement ring online, we also recommend you proceed with caution when using a peer-to-peer marketplace. Unlike online retailers and diamond resale businesses, an online peer-to-peer marketplace lets you interface directly with your buyer. While this allows you to eliminate user fees or intermediaries, you are also directly responsible for your safety and how your Jewelry is sold.
DIAMOCYCLE SELLER SCORE: 4/10
OUR DIAMOCYCLE CHECKLIST FOR AN ONLINE DIAMOND RING SALE POSTING
Have you listed your item with a Credible GIA Report or Jewelry Appraisal?
Do you have multiple, accurate, high-quality photos from various standard angles?
Have you indicated whether your selling price is firm or negotiable?
What will you say about your item in the listing to attract potential buyers?
Have you priced your item reasonably based on your research? Did you tick all the boxes on how to sell diamond safely?
In addition, as always, make sure that you must be safe and responsible in your online dealings. If you must meet to exchange the Jewelry, please do so in a public place and let a loved one know about your transaction details.
While Diamocycle is obviously an online marketplace for jewelry to whom could sell a diamond ring or loose diamond online, we offer you this advice free of obligation and with the expertise of the industry and field at large. As always, we encourage you to make the best choice for your unique and personal situation. Start selling here. Submit a Listing — Diamocycle
Over our 164 years in the jewelry trade, we’ve built a business and our legacy on trust and impeccable customer service. Over five generations, we’ve continued to take our reputation seriously and still continue to place our integrity over profit. We truly stand by the notion that a reputation is hard to earn but easy to lose.
SELLING YOUR USED DIAMOND VIA OUR MARKETPLACE
Unsurprisingly, we believe the best place to sell your engagement ring or diamond jewelry is to sell your diamond online with Diamocycle. We offer a secure marketplace for buyers and sellers of used loose diamonds, used diamond engagement rings, used wedding rings. We have a family legacy in the diamond trade since 1857.
Unlike brick and mortar stores, we have the advantage of being a digital business with no pressure to under pay you for your diamond ring or diamond jewelry immediately. Likewise, our family legacy in the business makes us a trusted business partner and a diamond expert for all delicate transactions. If you’re selling a wedding ring or another piece of emotionally loaded jewelry, we’ll make sure to make the process as smooth and easy for you as possible. Our legacy in handling diamonds gives us access to a variety of resources that allow us to market your used diamond at a market-rate value, while our appraisal process promises for a smooth and efficient process to ensure your diamond is listed at a fair market value. And unlike exclusive diamond auction and jewelry resale sites, we are accessible to all customers and sellers of loose diamonds or diamond jewelry. Lastly, we are insured through JM Shipping Solutions to offer you security every step of the way.
We take pride in taking care of our customers, and our hands-on customer support is there to help you every step of the way, in order to make Diamocycle the best place to sell a diamond ring.
LISTING YOUR ITEM ON DIAMOCYCLE MARKETPLACE IS SECURE
Diamocycle takes pride in having created a process that is equal parts efficient and secure. As always, we strive to best serve our customers and would be more than happy to answer any questions you may have about the Diamocycle Process. Feel free to contact us here.
HOW TO GET THE HIGHEST PRICE FOR YOUR DIAMOND
HAVE A GIA REPORT
We strongly recommend having a GIA report for diamonds over 1 carat, and you should never buy a diamond that does not have a GIA report. Your GIA report will help you receive a fair price for your loose diamond or diamond jewelry.
Beyond that, we encourage you to consider the diamond itself, as you seek to sell back your diamond for the highest price possible.
KNOW THE FOUR Cs OF YOUR DIAMOND
How does your diamond rate in carat, color, cut, and clarity? For a refresher, we define the Four Cs of Diamonds as follows:
Carat: This is the size of the diamond, as determined by its weight. And in case you’re curious as to how much is 1 carat: 1 carat is .2 grams.
Color: While at first glance most diamonds look clear, diamonds actually often have a slight brown or yellow tint to them. The color grade is determined on a scale form D (void of color) to Z (having a yellow tone).
Cut: This is the actual way that a diamond is cut, which is determined by the proportions and angles of each facet. Some standard cuts are: Point Cut, Table Cut, Old Single Cut, Peruzzi Cut, Mazarin Cut, and Old European Cut.
Clarity: This is the prevalence of flaws, inclusions (internal flaws), blemishes, scratches, or clouds that might occur on the interior or exterior of the stone. Compared to a chipped diamond, a diamond that is flawless is rare and incredibly valuable.
UNDERSTAND THE BRAND OF YOUR PIECE
If your item of jewelry comes from an important jewelry maker, that can often elevate the value of your loose diamond or diamond jewelry. That said, the premium (or lack thereof) conferred on any piece is absolutely dependent on that brand’s value on the secondary market. The more you can communicate to the buyer of your diamond ring, the better!
INSPECT YOUR DIAMOND FOR UNIQUENESS
If your used engagement ring or diamond jewelry is incredibly unique, it will be able to demand a higher price tag. That said, if its desirability is based on a certain trend or style, the current standing of that trend may positively (or negatively) affect the resale value of your diamond.
CONSIDER YOUR DIAMOND’S CONDITION
What is the condition of your engagement ring, wedding ring set, or diamond jewelry? If your jewelry piece is chipped, damaged, or missing stones, you will likely see the impact of that damage in the price tag as well.
Is the setting unique or does the setting (not the stone) have a value on the secondary market? As most commercial ring settings are recycled, not resold, their value is solely dependent on the value of the metal. The value of the metal is based on its gram weight and what material it is made from (10kt, 14kt, 18kt, gold or platinum). The value of the setting will absolutely affect the value of the jewelry piece in the secondary market.
While settings often demand a high price when bought, this hefty price tag often covers the labor to make the setting along with the retail mark-up charged by the manufacturer, the wholesaler, and the retailer. While your setting may have been marked-up by three distinct entities covering their costs and factoring in a profit, when you sell back your setting you can truly only charge for the base value of the metal.
That said, if your piece is a signed important piece of jewelry, an antique, or an original vintage piece, you may be able to receive a higher offer for the setting than the market value of the metal.
KNOW YOUR DIAMOND’S PROVENANCE
The provenance of a loose diamond or diamond jewelry is its history of ownership: who has owned it previously and how its current owner acquired it. A storied history can deeply affect the value of an important, large, or rare diamond, much like a piece of art. In addition, knowing the provenance of your diamond can help reassure buyers that the diamond was never acquired by unscrupulous means, and is not a “Blood Diamond.”
Given the strong legislation around the mining of diamonds, a clear provenance saves buyers from worrying about authorities later confiscating the piece. Whenever the seller can supply the provenance of the second and diamond, it’s always helpful in reassuring the worries of the diamond buyer.
SELLING YOUR DIAMOND VIA DIAMOCYCLE – THE BEST PLACE TO SELL A DIAMOND RING
At Diamocycle we market used loose diamonds over 1 carat or diamond jewelry that include at least one diamond over 1 carat. We are experts in selling estate jewelry, older cut diamonds, European and Mine-Cut diamonds.
We welcome all questions and queries and can’t wait to further assist you with your diamond selling process.
Your Neighborhood Jeweler,