How and when can I sell diamonds at a profit?

Selling your diamond or diamond jewellery is a great way to earn money, but it can be an intimidating process. If you want to attain an excellent price for your diamond, it is crucial to understand and know your options before selling.

In this post, we have briefly explained how to sell diamonds at a profit. We have segregated the complete selling process into three parts to assist you in selling diamonds to gain a good value.

Part – 1: Valuing your diamond

1. Find a qualified valuer
   Getting a professional and expert valuer is crucial if you feel that your diamond jewellery is worth enough of €2000 or more. Most professional and experienced valuers belong to a valuer association, and these associations can assist you in finding certified valuers in your area.
2. Inform the valuer that you want to sell your diamonds
   There are multiple reasons to get jewellery valued. If the valuer understands and learns about your goal of selling your jewellery, it will certainly be useful for you. In that case, they will be able to offer you a more evident and real idea regarding your jewellery’s resale value.
3. Obtain as many details as possible about your diamonds
   You will be in an optimal position to get a reasonable price for your diamonds if you can offer prospective buyers enough details about them. Additionally, ask your valuer for the resale value of the diamonds, try to discover all the factors, which can impact the desirability and value of your piece.
4. Acquire details about the setting
   If you possess a diamond set in a product of jewellery or diamond, this can also affect the desirability and value of your diamonds. Discover what the setting is fabricated of, how old the piece is, and what condition it is in currently.
5. Get it done in writing
   Ask your valuer for a written value report along with a sealed statement of value. The given report must comprise a precise explanation of how the product’s value was evaluated and should also determine the reason for the valuation report as it will impact the assigned value of the product.
6. Procure an informal appraisal
   If you cannot afford to appoint an appraiser or inspect your diamond as it is not worthy enough and is less than €2000, you can acquire a tune estimate of your product’s value by reaching a jeweller who sells or buys diamond. To get a range of opinions on the product’s value, it is recommended to take your diamond jewellery to two or local jewellery shops. An ideal jeweller can give at least a rough idea of the condition and quality of your diamonds, along with their setting.

Part – 2: Setting up a cost:

1. Use the rated value as a starting point
   If you have had your diamonds rated for resale value, you must possess a reasonable-tune estimate of their worth. Moreover, keep in mind that prospective buyers of used diamond jewellery are indeed for a reasonable deal or desire to make a profit by repurposing or reselling the gems. To know the resale value of your diamonds is more vital than knowing the value of the raw material or actual retail value.
2. Check out the selling price of the same piece
   Check around on websites such as Etsy, eBay to obtain an idea of how much sellers are earning for reselling diamonds of the same quality and size and at similar settings to yours. When looking out for similar pieces, include details about the diamond’s quality: carat, color, clarity, and cut. The setting type is necklace vs. ring, etc., and the material utilized for the setting is 14k yellow gold. Lastly, make a list of the range of prices for the same pieces that you discover, from low to high.

3. Settle at a minimum price
   Depending on your research and value, determine a realistic price range for your diamonds. Settle for the definitive minimum price for which you are ready to part with your diamonds. For instance, if you discover an identical piece ranging in price from €499-€1000, you could fix your minimum price to around €500. If you determine to sell your piece on an auction website such as eBay, you can sell for a fixed price or fix a reserve price.

Part – 3: Effective way to find a potential buyer for high profit

1. Sell your diamonds to a jewellery dealer
   If you are in a hurry to sell your diamond, this is undoubtedly your best target. It is necessary to verify your buyer’s better business bureau ratings or determine whether they are registered under a gem society that encourages ethical practices. You are likely to avail your diamond at an excellent price when you sell your diamonds to a dealer. It is an easy and quick option. Jewellery dealers desire to resell your product and certainly require to pay less compared to market value to acquire a profit.
2. Trade your diamonds through a consignment shop
   Consignment dealers offer excellent prices compared to other jewellery dealers. Instead of purchasing your diamonds from you, they will sell your product for you and take a sale price percentage. So the higher the cost they manage to get for you, the more money they can make.
3. Directly sell your diamonds to the public
   Public who purchase jewellery and gems for their use are likely to offer excellent prices; compared to industry insiders and dealers, there are multiple options to sell your diamonds straight to public buyers. Some online auction selling sites such as eBay, Etsy, Craigslist, or specialist sites assist in selling diamonds in high profit.
   You must ensure to review and know each website’s policies before concluding to sell your diamond at that particular website. Some websites add a commission on your jewellery sale or list your item; they charge a small amount. Considering all these reasons, many people hesitate to sell their products online, and prefer selling to the direct public as an optimal option. Many people do use ads in local newspapers to attract clients for their jewellery.

Final thought

From the above-given information, we have briefly discussed how and where you can appropriately sell your diamond. If you apply the above strategies correctly, you can easily find professional jewellers before selling your diamond and gain huge profits.

Looking for a trustable platform to sell your diamond at a handsome profit?

Get in touch with Diamond Brothers

Diamond brothers is a family business company established in the year 1996. Lalit Shah and his son Dipesh Shah are the two backbones of the company. They are experts on gemology and began their success journey by trading. We have attained the most reputable, qualified, and trusted position because of our valued relationship with its clients.

We are experts in dealing with semi-cuts, old cuts, certified, non-certified diamonds, small stones, diamond parcels, and diamonds removed jewellery.

Let’s connect for more information.