Most advertising campaigns by De Beers feature their famous slogan “A Diamond is Forever.” Consequently, women seldom sell a diamond and often feel uncomfortable buying diamonds previously owned by other women. As a consumer, you face some unique challenges when trying to get the best price for your diamond in a safe and comfortable manner.Once you know your diamond’s specifications, you can find the current retail asking price by checking with online retailers to see what similar diamonds are selling for in today’s retail market. It is unlikely you will be able to get the going retail price for your diamond. Selling your diamond at 80% to 90% of that amount would make it sell quicker. The lowest cost online retailers, not the expensive jewelry stores with double the price, set the value of your diamond.
Your first thought might be to go to the closest jewelry store or pawnshop and sell them the diamond. The key to remember here is that they do not need your diamond. They can get all the diamonds they want on the wholesale market.
The only reason they will buy your diamond is if the price is a fraction of the wholesale price. Several online brokers specialize in buying diamonds and estate jewelry from consumers. If your main priority is getting top dollar for your diamond, there are better selling methods available to you.
Auctions like eBay are very popular for selling jewelry items but there is so much low quality jewelry listed, it is hard for potential buyer to find your quality diamond. Do a search for diamond rings with GIA grading reports and you will see the vast majority of diamond rings have paperwork from sources you have never heard of before.
Some jewelry stores and online retailers will sell your diamond on consignment. With jewelry stores often marking up prices over 100%, your share is likely to be less than half of the selling price.
Selling Your Diamond - How is the Best Way to Sell Your Old Diamond Ring?
By James Greene
There are a variety of reasons why one may wish to get rid of their diamond ring. First Step: Have the Diamond Ring Appraised Before even contacting any potential sellers with regard to the diamond ring, it is important to know exactly how much your ring is worth. Second Step: Determine How You Want to Sell the Item. There are many different avenues one can pursue with regard to selling their diamond ring. Final Step: Part with the Item
The final step, which is sometimes most difficult for individuals, is where one parts with their diamond jewelry. The diamond ring will be given to the buyer in exchange for the agreed upon sum of money. Selling an old diamond ring is often a big step in the lives of individuals who do so yet it is well worth it if they wish to get rid of the ring and receive some money in return for doing so.
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Selling diamonds is a tough job to do, especially now that people are saving for their future. I think it is better to place your diamond in an auction site than to sell it to a pawnshop. Nah! Your diamonds deserve better than a pawnshop! But before anything else, be sure with your decision to part ways with it. After all, a diamond means something, you know. :)
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