Selling diamonds may seem intimidating, especially if you are not knowledgeable about the facets of the diamond industry. However, researching local diamond buyers will provide you with all the necessary answers to your important queries. After all, you want to be as prepared as possible before you sell your diamond for cash. Remember, knowledge is power.
In short, everyone has their own reason to why they want to sell diamonds. Whether you went through a recent divorce, received an expensive piece of jewelry as a gift or simply have one lying around, there are some things to know before you attempt to sell it. Read this guide and you will be one step closer to selling your diamond.
The prices of diamonds do not fluctuate as much as the price of gold or silver, so the time to sell diamond jewelry is mainly determined by you. So, you have plenty of time to research and make sure you get an appropriate price for your expensive jewelry. It is ideal to sell diamonds as soon as possible after being purchased originally, though.
According to the Gemological Institute of America, there are more than 30 factors that help establish a more exact price when selling diamonds, but they require special attention and knowledge, so not everyone will be able to determine all of them. Instead, as the consumer, what you will want to look at are the "four C's".
As mentioned earlier, the four C's are the most important factors used to determine the price of a diamond, so accordingly, they are very important to look at if you're looking to sell diamonds. The four C's are cut, carat, clarity and color.
The cut is the most complex factor out of all four. To this day this is still manual work, done by an expert. If a diamond has a good cut, it will reflect light, but if it's cut badly, the light will not reflect entirely and exit from the bottom of the diamond. The symmetry and proportions of the diamond also play an important role in determining the quality of the diamond.
When talking about the carat of a diamond, you're most likely talking about its size and weight.
A carat converted into the metric system equals roughly 0.02 grams. So, the heavier your diamond is, the more pricey it is.
The clarity basically refers to the quality of the diamond. The quality is determined by the specific characteristics found inside of the diamond, such as scratches, shapes, traces and other things. Most diamonds have these, but those that don't can get extremely expensive. To sum it up, the less "impurities" it has, the more expensive it's going to be.
The color of the diamond can also have a big impact on its price. A diamond's color is rated on a scale from D (no color) to Z (yellow). The most expensive diamonds are the completely colorless ones or the ones that have a vibrant color, like red, blue or even yellow.
Before talking about all the places you can choose to sell diamonds, you need to understand that you will most likely sell your diamond at a cheaper price than market value. Nevertheless, you need to know some things before you go out and try to sell diamonds, as most places will offer ridiculously low prices for them.
When it comes to selling, you have plenty of options to choose from, such as jewelry stores, pawnshops or a private diamond buyer. The only big advantage to stores and pawnshops is time, as you won't need to look for a real person interested in your diamond.
Jewelry stores will not even be interested to buy from you most of the time, as it is better for them to keep buying from the same suppliers. You might catch their interest if you own a rare diamond. In that case, they will still offer a very low price for it. It's a bad choice to sell diamonds to jewelry stores.
If you chose to visit a local pawnshop to sell diamonds, you are out of luck. Pawnshops are known for their low prices, so their offer will be even lower most of the time. This is probably the worst place to sell diamonds if you're looking to get the most value out of them.
You're only really left with the option to sell diamonds to a direct buyer. Although this involves the most risk out of all three, it is definitely the most profitable. You can find clients online through websites like craigslist or you can look for buyers locally. Alternatively, you can try to sell diamonds on eBay, but beware of the site's commission, as they always take 15%.
This is the hardest part. If you are not ready to invest a lot of time into finding the right person potentially interested in your diamond, our advice is to sell diamonds to a local store or pawnshop.
You can find a diamond buyer through online selling platforms, like craigslist or eBay. You can also choose to find a diamond buyer locally, which is harder, but involves less risk.
If you don't already know, an appraisal is assessing the price of jewelry. If you are looking to sell diamonds, it is important to have them appraised, as it will give you an idea of their estimated price. The typical diamond appraisal process doesn't take very long, usually less than an hour, depending on the expert. The process involves testing the diamond in different ways: measuring the diamond, weighing it and closely inspecting it with a magnifying glass, looking for those characteristics inside the diamond that we talked about earlier.
A diamond certification is a document that describes things regarding the quality of the diamond, such as the four C's. These are usually issued by labs, that use special tools to precisely determine those things. When looking to sell diamonds, it is quite important to have it certified. In general, you want to choose a professional organization for this and even then, results vary from lab to lab. Ultimately, any kind of certification from a trusted lab is good if you want to have an easier time when trying to sell diamonds.
Before you sell your diamonds, keep these things in mind to help you make the most cash for your diamond:
1. Get your diamond GIA certified
2. Find a reputable diamond buyer
3. Understand the buyer's policy
With this in mind, you will be able to sell your diamonds safely, easily and confidently.
In this current gold-friendly economic climate, you need a safe and secure place to sell diamonds, jewelry or gold. At Luriya, we strive hard to provide that for you by checking your diamonds in front of you using standardized, NYS approved calibrated scales. Don't take the chance that your diamonds will be undervalued by someone else; our certified professional jewelers have years of expertise in authenticating your diamonds, and diamond jewelry. With Luriya, you'll be well on your way to a cash payout you can get when you sell diamonds.
If you're looking to sell old diamond jewelry or sell a diamond, look no further than Luriya. With our years of expertise in the market, you can rest assured that the best professional guidance will be at your disposal. Have your diamonds and jewelry appraised by our certified Jewelers before you try to sell diamond, so that you can be confident that you're getting a great offer from them. Learn where to sell diamonds with our popular E-book 12 Steps to Take Before Selling a Diamond. At Luriya, we're here to help.
Today, most places that have a “We Buy Gold” sign will also be in the diamond selling business. Because it can be hard to tell which place you should consider where to sell diamonds, keep this checklist in mind:
1. Be sure your diamonds, or jewelry are being tested in front of you in a way that you can understand.
2. Check that the scales being used are calibrated and certified. Luriya's scales are all NYS certified.
3. Are you certain of their reputation? As a diamonds buyer, they should have a good one before you sell your diamond to them.
Do you know what a jeweler's stamp is, and what an authentic one is supposed to look like? If not, then there's a good chance you could be ripped off if you try selling diamonds to some makeshift jewelers that are trying to take advantage of the recent rise in the worth of gold and diamonds. At Luriya, our jewelers are experts with many years of experience, who command a good deal of respect in the industry. We'll authenticate your stuff, and make sure you get real cash for diamonds once you decide to sell.
Since diamonds are worth so much now – even more than usual – there are a lot more “We Buy Gold” banners floating about every corner store and street vendor. Protect your investment, and get as much cash payout as you can by going with an established Diamonds buyer like Luriya.
1. As you prepare to sell diamonds for cash, check all testing equipment being used by the dealer for standardization. In fact, they should measure everything where you can view the process.
2. If you are selling a very expensive diamond you might consider getting an appraisal with GIA, which we can help you with
3. We use our many available resources to find an acceptable price for our customers.
Luriya is the prime company for you to sell a diamond, or your diamond jewelry!
“My favorite part about Luriya is honestly the e-books. They’re so informative and helpful when deciding where to sell gold. From detailing how gold is measured, to explaining the differences in karats, they do a great job explaining the process to customers.”
“When you go to sell jewelry, Luriya has the best payout offers in NYC. The jewelers know their stuff, no matter what you’re trying to sell.”
“For anyone looking to sell diamonds, Luriya is the place to go. They pay well, instruct you about their prices, and let you take your time to make a decision on a deal. Will be back.”