By Gem Dynasty
December 17, 2014
What are the best ways to sell your diamond?
Many people nowadays are struggling to get money, either in the form of selling their used personal items or something else. More and more people are now looking to sell their used, old and unwanted diamond jewelries or diamond engagement rings. And in this regard, we need to post this question: What are the best ways to sell your diamonds?
Here are some tips and ways on how and where can you sell your unwanted diamond:
1. eBay – Majority of people use internet on the daily basis and eBay is one of the first options that sellers consider right away. Researching online is the best tool to find out how much value you can sell your diamond. If your diamond is certified (whether GIA, EGL or IGI), there’s a big chance of selling your diamond for a big buck because the certificate verifies the exact color, clarity, carat weight and cut of your diamond.
Selling your diamond online also needs better pictures in order to show a good visual of the diamond to a buyer. Make sure that the information in your listing is what the buyer will receive in case you sold it to avoid headaches. Be open and honest. Inform the buyers or viewers about the condition of the diamond whether used or new honestly. Your transparency is a good platform of credibility as a seller. The downside on selling your diamond jewelry online is that you will be ask to ship the stone versus going in with your diamond jewelry to Los Angeles Diamond Buyer and getting cash right on the spot.
Also, be aware of scammers online who pretend to be buyers and would want you to ship the diamond internationally. As soon as you receive your money (with clear and confirmed transaction – not pending), then that’s the right time to ship the diamond. Open communication with the buyer is one of the most important steps towards a good sale.
2. Craigslist – Craigslist is a free listing to sell your diamond. Most buyers here are locals. Craigslist is a great option if you don’t want to spend money in posting your diamond online because eBay, Amazon and other selling sites require listing fees where most of them charge weekly depending on the number of postings. This website allows you to list as many posts as you want. But do not make redundant postings to avoid being flagged for removal. And since you are selling a high value item here where your safety and security must be assured, set an appointment with the buyer and meet that person somewhere. Also, set an appointment with the buyer in a location like bank or mall where security is observed. Bottom line here is that there should be no anonymity with Craigslist.
3. Pawnshop – This is a place if you are really desperate to sell your diamond for there’s a 100%% chance of getting the least amount of money for your diamond. Most pawnshops take your diamond with the assumption that you would probably buy back your item for a higher percentage than what you sold it to them for. So they put more cushion for their gain similar to a loan on your diamond.
4. Consignment with a Local Jeweler – If you are tired of selling your diamond on your own (either online or locally) and need a help from someone who is expert or professional in selling this kind of expensive item, consignment with a local jeweler is best the for you. This avenue is good if you are not in a hurry to sell your diamond for it normally takes time for your diamond to be sold. Consider also the processing fee and commission involved with a consignment. So make sure to set an amount of how much you want to sell your diamond.
5. Diamond Buyer / Dealer – Many people get confused or mixed up between a Diamond Buyer / Dealer and a Jeweler. Each has a different style of buying a diamond from the seller. Most diamond buyers have a reputable website accessible to people who can read all the reviews and other feedbacks from their recent and previous transactions. This provides future sellers an idea for the perfect place to offer their diamonds as Diamond Buyer not only offer higher price than a Jeweler but they also help you try to meet your needs in terms of selling price for your diamond. Checking online also helps sellers if the diamond buyer is legitimate or not. Better Business Bureau or Jewelers Board of Trade (BBB or JBT) are other options to verify the the diamond buyer’s credibility. The advantage of this option is that you will get clean cash right away without waiting on any fees or commissions.
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