BEFORE YOU SELL YOUR LOOSE DIAMONDS
Selling your loose diamonds can get you a significant amount of money, but it can be a thrilling decision, so you need to be careful to get the most value out of them. There are many diamond buyers out there who will be willing to offer you some cash for your loose diamonds, but you need to find a certified buyer who will quote a fair amount. Do not jump into a decision before doing your research first. Here are some of the things you need to know before you sell your loose diamonds.
Find a genuine buyer.
When you decide to sell loose diamonds, find a genuine buyer, and ensure you look them up before choosing to do business with them. Ensure they have a GIA certified gemologist who will do an appraisal for your diamonds and give you the correct value of their worth. A certified gemologist will accurately inspect the diamond for the three Cs (color, clarity, cut, and carat). Also, ensure the buyer has enough experience, and you can identify that by how they answer any questions you have regarding the buying and selling of loose diamonds.
Know the value of your loose diamonds
Diamonds come in different sizes, shapes, cuts, clarity, colors, etc. Before you head to the market, understand the value of your diamonds. For instance, larger diamonds are expensive than smaller ones, and some shapes are in more demand than others. Some colors are rare and will sell at higher prices. If your diamonds are chipped, that reduces their value. Please do your research about diamonds and find out what determines the value so that you know what to expect when selling them.
Remember, cash offers and appraisals are not equal.
When you take your diamonds to a certified gemologist for appraisal, the value will not be the same as a cash offer. The appraisal value will most likely be higher than the cash offer because it represents the value an insurance company would give to replace them. On the other hand, a cash offer is a price the buyer will be willing to provide you for the loose diamonds in their current condition, especially if they have flaws such as scratches. The appraisal value mostly refers to the original price, while the cash offer considers the diamonds’ state. So, expect some differences between the two amounts.
Some paperwork would help.
If you have the original receipt and appraisal certificates of the loose diamonds, it will help if you carried them with you to the buyer. That will show them the diamonds’ previous appraisal value, which can help raise the value they offer. An insurance appraisal document can help keep the sale objective rather than subjective, giving you an advantage.
Take your time
Selling diamonds can be an emotional decision. They are a rare gem, and once you sell them, they are gone no matter the sentiments you had attached to them. You can shop around for buyers and ensure you make an informed selling decision. Take your time without letting any buyer rush you. In most cases, a genuine buyer will give the quote and let you decide at your convenient time.
The bottom line
Before you sell your loose diamonds, do extensive research about the selling and buying of diamonds. That will help you determine their value, and you will be able to know which buyer is giving you value for your diamonds.
