Are you planning on selling your old diamonds? Whatever your reasons may be, we are here to guide you through it all. This article discusses all you need to know about diamond resale value and how to sell diamonds for the best deals.
How Diamonds Are Valued
To estimate the diamond resale value, you must take into consideration the market rates and prices of such stones.
The Gemological Institute of America or GIA lists four primary factors that affect a diamond’s value. These are known as the 4Cs – color, clarity, carat weight, and cut of a diamond.
Diamond Color:GIA classifies diamond colors on a scale of “D” to “Z,” where D represents colorless diamonds. Z signifies diamonds that are yellowish or light brown. When you resell diamonds, those with colors like blue and pink hold high value.
A yellowish tint is not considered to be desirable in the case of white diamonds. Overall, if a diamond is clear and colorless, it shines brilliantly. Due to this, it has a higher diamond resale value.
Diamond Clarity:Very often, natural diamonds have many imperfections and flaws. This often compromises their clarity. But sometimes, these imperfections are too minimal to be noticed by the untrained eye.
The diamond resale value also varies based on relief and inclusions present in the stone. Thus, the bigger the inclusion, the greater will be its impact on diamond clarity, and this will have a negative effect on the diamond value.
Carat Weight of diamonds:Due to the extreme precision required in weighing diamonds, the fraction of a carat can make a huge difference in the diamond resale value. As a result, you must keep an eye out for accurate weighing of your stone.
Diamond Cut:This involves facets, proportions, polish, symmetry, and depth given to the stone. The cut of the diamond determines the angle at which light enters it. If the light does not enter at the best angle, the diamond will not reflect light properly. This will result in a dark and dull appearance, which in turn will decrease the diamond resale value.
How to Estimate Diamond Resale Value
Estimating the diamond resale value can be pretty simple once you know what to do. First and foremost, you must compile the specifications of your stone to understand the diamond quality.
Start with the 4Cs. Understand how each factor affects the diamond resale value and compare it with the features of your stone.
Once you have understood where your diamond stands in the GIA grading system, browse through diamonds of similar grades. Check out their prices and how much they have been valued at. This will give you a clear picture of your diamond resale value.
Retail prices of diamonds are also dependent on other factors. Jewelers add extra charges to cover the overhead expenses. As a result, a similar diamond will be valued at a higher price at a jewelry store than the offer you receive for your diamond.
The most common place to resell diamonds is your local jewelry store. But keep in mind that your diamond will not fetch the same price you originally bought it for. So, set realistic expectations while reselling your diamonds.
Most jewelers may not want to buy your old diamonds because they can get them at cheaper rates from diamond dealers. So be prepared for low offers from such jewelry stores but don’t give in, or you will be ripped off.
Getting a Diamond Appraisal to calculate your diamond resale value:
You can get the diamond resale value by having the stone appraised by trained professionals. Diamond appraisals consider all the factors that generally affect diamonds and how your stone fares against the set standards.
Since jewelry appraisals are documents that contain the grading report of the diamond, you could opt for a diamond grading certificate.
In case you are planning on selling diamond jewelry and not just loose stones, it would be best to get a complete appraisal done. The final appraisal value of your diamond jewelry would list the diamond resale value of the stone and what you can expect for the other metal parts.
These values are based primarily on market rates and prices. Many jewelry appraisers even evaluate the diamonds based on how much they would cost to buy in the current market situation.
While you may not get the retail price for your old diamond, having an appraisal certificate saves you from getting ripped off by fraudsters who may try to convince you that your diamond is not worth much.
Getting an appraisal done is quite helpful since it gives you a firm footing while negotiating with potential diamond buyers.
Can Diamond Certificates reveal Diamond Resale Value?
Do you have the original documents which you received upon purchasing your diamonds? If your diamond came with a certificate, everything you need to know about the stone is already mentioned there.
Having a diamond certificate makes it much easier to resell diamonds at a fair price.
If your diamond did not come with a grading certificate, do not worry. You can send in your diamond at any renowned lab to get a complete grading certificate that will list your diamond’s characteristics.
Not only does a diamond certificate give you a clear picture of the diamond resale value, but it also helps you negotiate deals with potential diamond buyers without fear of getting cheated.
Some more factors which affect Diamond Resale Value
Your diamond grading certificate will take into consideration all possible factors to calculate the diamond resale value. Once this is done, the next step would be to find a buyer.
Your diamond’s resale value depends heavily on where you sell it. We have already discussed jewelry stores and the low prices they may offer.
In some cases, such stores provide store credit instead of cash. You can avail of this store credit when you make your next purchase from there.
You could also consider selling your diamonds to a thrift or pawn shop. However, these places lack trained professionals to assess your diamonds accurately. As a result, the diamond resale value at such places would be insufficient.
So Where Should I Sell My Diamond?
If you are in need of some instant money, you can solve your problem by selling old diamonds. You can contact Sell Your Jewelry and get the best diamond resale value in Singapore. Rest assured, we will buy your old diamonds and offer the best prices in the city.
Upon booking an appointment with Sell Your Jewelry, you receive a 100% free consultation with expert gemologists who will assess your diamond and calculate the diamond resale value. The entire selling procedure is fully transparent, safe, and hassle-free. The jewelry assessment takes place at our Singapore office and the stones are evaluated in your presence.
Click on the button below to get your free consultation now: