You might have a diamond that you wish to sell for a number of reasons. You might have been through a divorce or you need cash. What really matter is that you get the best price for it. This is possible if you aren't in a rush. You've got many options, so consider them carefully.
First of all, have the diamond appraised. Have two or three jewellers appraise it so you can get a good idea on the value of your diamond. Tell the appraiser that you want the Rapaport Value. This is the wholesale value of the diamond, and it basically tells you the highest price that you can sell your diamond for. If you don't have a certificate for your diamond, you can get one from GIA. Having a certificate can help you get a better price for your gem.
First, try to sell the diamond yourself, to people you know. Maybe your friends or family members would like to buy it. If that don't want to buy it, then you should turn to outside sources. Pawn shops are a no-no! A pawn shop would only be willing to pay you 10% of your diamond's worth. Don't consignment offers, too. There can be plenty of things that could go wrong, and diamond scams are quite popular.
Auctioning the diamond would be a good idea if it is important to you, and auction houses like Christie's or Sotheby's are good. If the diamond has no value to you or is not a high-end diamond, you can sell it via classified ads. But you should realize that selling gems to strangers can be a risk for you.
Your final option should be a jewelry store. Keep your diamond within sight or you might not be bringing the same diamond when you walk out of a jewelry store. The jeweler will try to tell you that your diamond is of poor quality or low weight. And the stone would probably have some flaws. But this is where your appraisal or certificate comes in.
You'll be offered 60-80% of the Rapaport Value if the jeweler is fair. Don't sell you diamond for any less. And remember to keep you diamond within your sight until you get its payment.
First of all, have the diamond appraised. Have two or three jewellers appraise it so you can get a good idea on the value of your diamond. Tell the appraiser that you want the Rapaport Value. This is the wholesale value of the diamond, and it basically tells you the highest price that you can sell your diamond for. If you don't have a certificate for your diamond, you can get one from GIA. Having a certificate can help you get a better price for your gem.
First, try to sell the diamond yourself, to people you know. Maybe your friends or family members would like to buy it. If that don't want to buy it, then you should turn to outside sources. Pawn shops are a no-no! A pawn shop would only be willing to pay you 10% of your diamond's worth. Don't consignment offers, too. There can be plenty of things that could go wrong, and diamond scams are quite popular.
Auctioning the diamond would be a good idea if it is important to you, and auction houses like Christie's or Sotheby's are good. If the diamond has no value to you or is not a high-end diamond, you can sell it via classified ads. But you should realize that selling gems to strangers can be a risk for you.
Your final option should be a jewelry store. Keep your diamond within sight or you might not be bringing the same diamond when you walk out of a jewelry store. The jeweler will try to tell you that your diamond is of poor quality or low weight. And the stone would probably have some flaws. But this is where your appraisal or certificate comes in.
You'll be offered 60-80% of the Rapaport Value if the jeweler is fair. Don't sell you diamond for any less. And remember to keep you diamond within your sight until you get its payment.
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