Either you are trying to sell diamonds to resolve a financial emergency or just feeling like selling them, the crucial thing is that you need to understand the buyers are trying to get your diamond at the cheapest price possible. First step to sell your diamonds is looking for a right buyer:
1. Friends or relatives: To make sure you get the highest price possible, try to sell diamonds to some friends or relatives that have expressed interests on your diamonds: usually they are the ones who will offer the best price.
2. Reputable stores or diamond retailers: Most of the time they will offer you an acceptable and reasonable price. But do not expect them to offer the highest price, as they would sell your diamonds to another person or store.
3. Auctions: Auction can be a great option if you have a diamonds that are in a rare color or have some historical background. There is a possibility that you can get twice the value. However, it doesn’t normally involve fast cash.
4. Pawn: Diamonds are always associated with luxury and glamor, they symbolize wealth and beauty for a lot of people. Some sellers might choose to sell the diamonds now but hoping to get them back in the future. Therefore, pawn would be a good option for them as they can still get a chance to redeem the diamonds in the future.
It is also necessary to know the value of your diamonds in order to have an estimated expected value:
To understand the basics of diamonds, there are 4C’s:
- Color: The overall tint from colorless to yellow.
- Cut: A diamond cut is a style or design guide used when shaping a diamond for polishing. Some examples are round, princess, and cushion. A diamond’s cut determines its grade and value.
- Clarity: Diamond clarity is the quality of diamonds that relates to the existence and visual absence of inclusions and blemishes. For example, flawless means no inclusions and no blemishes visible under 10x magnification.
- Carat: Carat denotes the weight of a diamond.
To get started: find the right buyer, understand the value of your diamonds, and sell your diamonds in a smart way.