How To Get The Most Money When You Sell Diamonds

Author David Millette
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Date Apr 7, 2015

How to get the most money when you sell diamondsDo you have diamond jewelry that you want to sell, but don't know if you are getting a fair value? This is a common challenge, as most people don't know the true value of their diamonds.

To help you say farewell to your diamond, we want to help you maximize the offer that you will get. Here 4 tips that we've thought of to help you get the most money when you sell diamonds:

1) Collect Any And All Paperwork

Before anyone will give you an offer on your diamond, they will first inspect it to determine the grades that it should be given and the value that these grades warrant. Diamond appraisers will usually grade a stone correctly, but there are instances where one or more of the the diamond's characteristics are right on the line between two grades. When this happens, the appraiser will often give your stone the lower grade, which means less money for you.

Sending in any paperwork you might have on your diamond is the only way to show an appraiser what other professionals have determined the stones characteristics and value to be. An original receipt or a certification from a respected gemological lab (such as the GIA or AGS) will take some of the guess work out of the appraisal process.

2) Understand What Determines The Value Of A Diamond

There are many factors that determine the value of a diamond. The condition of your stone is in is very important as any scratches or chips could detract from its value. The size of your stone has a large effect on value, because carat for carat a large diamond is more valuable than a collection of smaller diamonds. Styles are always changing, and an old style like a mine cut or old European cut will carry a lower value than a diamond with a popular modern cut such as round brilliant or princess. If your jewelry is from a famous designer such as Tiffany or or Cartier, it will increase the value. If you are unsure of who designed your jewelry, check the hallmarks in the metal.

It's important to understand that sentimental value doesn't have any effect on the value of your piece. If the piece means a lot to you or your family and the offer you are given seems to low, consider keeping it.

3) Clean Your Diamond

Diamonds can get fairly smudged and dirty when worn. Even everyday items such as hand soap and hand cream can cause your diamond to look dirty. A used car salesman wouldn't show you a car that has mud on the tires, and selling your diamond is no different. You don't want to risk an appraiser mistaking a smudge for an inclusion and giving you a lower offer just because your stone was dirty.

Get some over-the-counter jewelry cleaner, or better yet, take your piece to your jeweler for a cleaning. Either way, you will get rid of any dirt and smudges that could mislead an appraiser.

4) Take Your Time And Shop Around Sell your diamond

It's important to find someone that you can trust. If you don't have a jeweler that you trust to give you a fair offer, check out a couple of different places before you sell. Getting a few offers to compare will help you decide what business you should ultimately sell too. Before you commit to selling, see what previous customers have to say about their experience with a company. This may reveal some important information for your decision making process.

Saying farewell to a diamond can be a difficult thing to do. If you need some time to comfortably make your decision, take it! Be wary of any company that pressures you to make a quick decision. A business that gives a fair value will be confident in the offer they have given you and will give you as much time as you need to make your decision.

If you are interested in learning about selling your jewelry, visit our page to see what we buy and can offer. You can also schedule an appointment at any of our five locations, where a trained gemologist will examine your piece while you wait.

If you want to get a more immediate offer on your piece, consider visiting Farewell Diamond, a Long's Jewelers company specializing in purchasing your used diamonds online.

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