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How and Where to Sell Loose Diamonds
Diamonds are one of the most valued gemstones in existence. They add class and quality to all sorts of jewelry. Be it necklaces, rings, bangles, and earrings. Most times, people decide to sell their diamond jewelry. Others might want to sell loose diamonds.
However, whatever your choice is, this action is often based on diverse reasons. Notwithstanding, selling your diamond is a great way to get instant cash of high quantity.
What is a Loose Diamond?
Generally, a loose diamond means a diamond that was cut and polished before. In detail, a loose diamond is the result of a polishing process that began with a rough diamond gotten from a mine.
A loose diamond stands alone. It has no particular setting.
Loose diamonds, since they are already processed and cut, are always ready to be sold. Usually, loose diamonds are ready for mounting. This means they are always ready to be placed on rings, earrings, bracelets, and any form of jewelry that can be matched with a diamond.
Loose diamonds can be kept in safes as a non-monetary investment. If you would like to hold on to an investment, keeping a loose diamond is a very good way to save.
Some people buy loose diamonds for investment purposes. Other people sell loose diamonds to get returns on an investment or for quick money with a lot of value.
Do Loose Diamonds Hold Their Value?
Selling diamonds alone, not as part of jewelry, can fetch you a lot of money. Diamonds, whether old or new, have a lot of market value. More often than not, the price of diamonds increases over time.
You should know that the market for loose diamonds, especially in Singapore, is very solid. Easily, you can convert diamonds into a reasonable amount of money when you sell loose diamonds.
Why do loose diamonds have meaning? Loose diamonds are valuable assets because upon acquiring them, you put in a lot of money. If you wish to cash out that investment, selling your loose diamond is a really good option.
You can have a good diamond sold at $4,000 to as high as $100,000. Sometimes, you can sell a loose diamond for an amount way past $100,000 – it all depends on the size of the diamond, its weight, cut, clarity and color.
When you have a well-cut diamond of high quality, it stands to have a very high price. Diamond buyers of all categories and classes have high amounts ready to snatch the loose diamond away from you.
How to Sell Loose Diamonds
How can I sell my diamond for cash? This is a common question with lots of answers. The main aim, however, is to make a gain.
If you have decided to sell loose diamonds in your possession, there are a few things to consider. Here are some tips and things to know when selling loose diamonds.
- Carry out proper research on the diamond buyer:
Before you sell loose diamonds, carry out proper research on the buyer. Ensure the individual or diamond shop you are selling to has a certified gemologist present for the appraisal.
2. Appraisal value vs. cash offer:
The appraisal value of a diamond is different from the cash price offer. Very often, people expect to be paid the appraisal value of their loose diamond when selling. However, understanding the difference will save you a lot of trouble.
An appraisal value is an insurance company’s amount to pay you if the diamond needs to be replaced. It’s the same amount you originally bought the loose diamond.
On the other hand, a cash offer is an amount a buyer is willing to pay for the diamond.
3. Avoid pressure:
When you sell loose diamonds, don’t make decisions under pressure. 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 think. Even if it takes you days or weeks. You should never be compelled to sell loose diamonds on the spot.
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 type of diamond, karat, weight, cut, trademark, etc.
The condition of your diamond is very important when selling loose diamonds. The slightest scratch or uneven edge can drastically reduce the value of the diamond. You have to thoroughly inspect the stone.
Where to Sell Loose Diamonds
Commonly, people like to sell their diamonds to pawn shops. Sometimes, it’s diamond dealers. This happens when they ask, “Where can I sell loose diamonds near me?” or “How can I sell my diamonds for cash?”.
Sadly, this category of buyers needs to make a profit. As a result, they buy your diamonds at only a portion of their retail price and then sell at a higher price.
Alternatively, you can sell loose diamonds to direct jewellers. They are simply the best option because your diamonds will have more value to them, since they are searching for loose diamonds to make new jewelry – then you can sell your diamond for a good price.
But the best place to sell loose diamonds in Singapore is at Sell Your Jewelry. We are a group of expert gemologists and diamond manufacturers with a transparent attitude, and you are certain to get a good price when selling loose diamonds at our office.
Also, you can get a free consultation if you’re having trouble selling your loose diamond or any form of jewelry. All you need to do is fill in the form below and our experts will contact you as soon as possible.