6 Tips to Understand A Diamond Resale Value Calculator
Across our publication, the Diamocycle Dispatch, we take pride in helping people understand the value of their diamonds. In this installment of the Dispatch, we discuss the best ways to get an accurate understanding of the value of your diamond. We also discuss ways to monetize your diamond if you decide to unlock its value.
#1 What Factors Affect the Value of My Diamond
When thinking about diamonds, we like to use the analogy of selling your house. Redfin is an excellent place to look at houses, but a real estate investor will tell you that the price listed on the site is only sometimes the price the diamond sells for. There are obvious costs associated with selling your home, and many ways you could choose. However, if you were to sell your house for cash on the same day, you would expect a meager price, the same as selling your diamond.
#2 Why The Buyer Matters For Resale Value
a local buyer that pays cash for your diamond in one day, or an overnight buyer that buys your diamond for money will pay you a market discount. They’re likely to flip your diamond, as a home flipper would, and make a small profit. Some of these flippers will hold your diamond for a more extended period and make a significant profit. So, do you have the capital to wait to sell your diamond to the right buyer?
#3 Tools To Capture A Greater Resale Value
Remember that patience and knowledge will give you the tools to sell your diamond for the most money. If you took poor pictures of your house and listed them, you are unlikely to get a reasonable price. The same is true when listing your diamond online. So one of the most significant factors that will affect the value of your diamond is how you choose to go about selling it. If you cannot change your diamond’s fundamental characteristics, you have the power to make a wise selling decision.
#4 Research the Market
Ideally, your diamond comes with a diamond certificate, and the most valuable certificate is GIA or AGS. So, what tools are there to figure out how much your diamond is worth? We suggest researching online to see how much a seller would Market a diamond for. Blue Nile could be an excellent place to start, but remember, whoever sells your diamond has costs to market it online. They are operating a business and have expenses, so you cannot expect to capture the total value. If you can capture about 70% of the listed value of a diamond on the Blue Nile, you are making an excellent return.
#5 How The Business Model of Your Seller Affects Resale Value
A local buyer might pay you 40% for cash of the price of Blue Nile after comparing many offers. You could even expect to receive 20% for cash locally from a pawn shop. An online auction site could net you about 40-50% before fees. So understanding your seller’s business model and comparable diamonds in the Marketplace is critical. Your diamond should also be in excellent condition and not damaged. Any buyer or Marketplace will have to inspect your item and verify that it contorts to the diamond certificate and that it is not damaged before delivery to the buyer.
#6 How to Capture Maximum Resale Value
Our preferred venue for selling a diamond is a Marketplace online. Across our Publication Diamocycle Dispatch, we discuss how to capture maximum value for your diamond. a Marketplace for pre-owned diamonds is the best option for sellers who have used diamond rings. Should you have the time to wait for a retail buyer, then this is how you can maximize the resale value of your diamond. You can expect almost 40-50% more by the selling method. There are several marketplaces for pre-owned diamonds, and we have reviewed them across our publication. We also have our Marketplace and offer the free service of providing you a market estimate of what year the diamond is worth. Feel free to submit a listing or reach out to capture an idea of your diamond’s resale value. So start selling for maximum resale value today now.