subject: Tips for Selling Diamond [print this page] Tips for Selling Diamond Tips for Selling Diamond
selling diamonds and looking for the right diamond buyers? This short guide can help.
Selling diamonds is not an easy task. The main reason for problems that crop up at the time of selling diamonds is a lack of understanding about the quality of diamonds. When you go to buy diamonds, unscrupulous sellers will do anything to convince you that the diamonds they sell are of the best quality. But you realize the truth of the matter when you go to sell diamond and get far lesser than your expectations.
Here are some tips to help you find the right diamond buyer and sell diamonds for its right worth:
- Most people buy diamonds at retail prices and sell it at wholesale prices. Retail prices sometimes have a 100% mark-up. To avoid this, get the diamond assessed to find out what its true worth is. A professional appraiser will look into the 4C's (Cut, Color, Clarity and Carat) of the diamond and give you a fairly correct value. Moat people don't know it but the price of a diamond does not depend on how big it is. For example, even a diamond of 1 carat weight loses it value significantly if it is chipped or if the cut is out of style. These imperfections are not apparent to the naked eye.
- Even after appraisal, you cannot expect to get the exact value that the diamond was appraised for due to several reasons like passage of time and so on. Usually, sellers can hope to get half or a little more than the appraised value.
- Find out what the current prices of diamonds are. Like gold and silver, the cost of diamond is also volatile and it fluctuates wildly at times. Therefore, you need to know the rate for diamonds on the day of selling to get the right value from diamond buyers.
- The next step is to determine how to sell the diamond. When you are ready to sell diamonds, there are several options. Most people think of selling diamonds to their local jeweler. In fact, many people go around their locality trying to sell their diamonds to stores in and around their place of residence. But the fact is, most jewelers in your locality will offer much lesser than the worth of the diamond. This is mainly because they are middlemen in a long chain of middlemen. The diamond must ultimately reach the hands of a jewelry manufacturer or a retailer who will use the diamond for a purpose. A better option is to sell the diamond online. Online stores can give you better prices because their overhead costs are low when compared to a brick and mortar store.
- Before selling diamonds online, it is necessary to do some comparison shopping so that you identify the buyer who can give you the best price. Generally, diamond buyers who buy in bulk and trade with manufacturers or retailers offer better prices.
Many people buy diamonds believing them to be an excellent investment. However, selling diamonds is more difficult than selling precious metals. You need to be a savvy seller if you want to get maximum return on your investment.
