5 Tricks to Sell Diamond Jewelry in Singapore for the Best Price
There are a lot of advantages to owning diamond jewelry. Besides the classic look it gives you, it’s also a good way to get quick cash. You can sell diamond jewelry in exchange for money.
When selling diamond jewelry, the seller aims to make maximum profit. There are certain processes to follow to sell diamond jewelry for cash.
Why Should You Sell Diamond Jewelry?
Gold and diamond have maintained a high-ranking spot in monetary value for many years now. This fact alone prompts the reselling of valuable jewelry. There are so many reasons people sell jewelry. Possessing jewelry made of gold or diamond is a big win.
Diamond jewelry is a good investment. You can buy an expensive diamond ring, bracelet, or necklace and sell it years later when the market value of a diamond is good. In other words, you should sell diamond jewelry to get good returns from your investment.
Another reason you might want to sell your diamond jewelry is to get over the memories that come with it. Diamond jewelry is undoubtedly the best form of gift to give a loved one. If you are no longer with that loved one you might want to get over them by getting rid of tangible materials that remind you of them.
Selling your diamond jewelry is a good way of letting go and still gaining. Finally, if your diamond is attached to jewelry that is out of fashion or getting old, you might want to sell the jewelry before it loses its value completely.
However, selling old jewelry will not bring you the same amount you would get by selling jewelry that still looks good as new.
How to Sell Diamond Jewelry
You should know a few things when you have decided to sell diamond jewelry. The following tips will help you make the most cash when selling diamonds.
1. Carry out proper research on the diamond buyer:
Before you sell your diamond jewelry, be sure to conduct proper research on the buyer. For example, make sure the diamond jewelry buyer you’re selling to has a GIA gemologist present for an appraisal.
GIA stands for Gemological Institute of America.
When a diamond is graded by GIA, any activity carried out on or with the diamond is secure as the diamond has legal approval. In addition, if your diamond has a GIA certificate, you stand a chance to get higher returns on the piece.
Also, while researching the buyer, if it is an organization buying the jewelry from you, ensure that you have access to the customer reviews. It will give you an idea of the kind of service to expect.
2. Appraisal value and the cash offer:
The appraisal value of a diamond is different from the cash price offer. Often, people think they will be paid the appraisal value of their diamond when selling. However, understanding the difference between the two terms will save you a lot of trouble.
Simply, an appraisal value is an amount an insurance company would pay you if the diamond needed to be replaced. It’s the same amount you originally bought the loose diamond.
Contrastingly, a cash offer is an amount a buyer is willing to pay for the diamond.
3. Avoid any form of pressure:
When you sell diamond jewelry, especially rings, don’t make any decisions under pressure. We understand that you might be emotionally attached to the piece of jewelry. Therefore, selling it will be hard.
Don’t be talked into doing something you might regret. If you feel the process is moving too fast and you aren’t comfortable with it, have a rethink.
Take a few steps back and have a re-think. Even if it takes you days or weeks, you should never be compelled to sell diamonds for cash or anything at all.
4. Know your diamond:
The best way to get the best price out of your diamond is to know everything about it. You have to know the 4Cs of your diamond.
The type of diamond, what karat, the weight, the cut, the trademark, everything.
Also, the condition of your diamond is very important when selling diamond jewelry, especially loose diamonds. The slightest scratch or uneven edge can drastically reduce the value of the diamond. You have to completely inspect the stone, even if it’s just a part of jewelry.
Also, if your diamond has a trademark of a popular designer, be sure that the diamond would be adored and sold for a high price.
Finally, you should know the value of diamonds in the market at the moment before selling your diamond. That gives you an idea of what price to expect when selling your diamond jewelry. Know the worth of your jewelry before selling it.
Make quality research on the current selling diamond price.
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5. Legal documents:
A nice way to get high offers on your diamond is to acquire important documents. The documents may be insurance appraisals or original receipts and certificates from standard gemological labs.
These valuable documents let the buyer know how much the diamond is worth in the eyes of the law. Also, it enables diamond buyers to start with a high price when bargaining.
An additional tip when selling diamond jewelry is to do a broad market survey. That way, you can analyze which diamond jewelry buyer gives you a better offer than another. When you follow this tape, you are sure to get the best price off your diamond jewelry.
The Best Place to Sell Diamond Jewelry
If you are looking for a good place to sell diamond jewelry and get the best price, Sell Your Jewelry is at your service.
At Sell Your Jewelry, we take your diamond jewelry and give you quality cash in exchange.
To get a free consultancy on selling diamond jewelry, fill in the form below.