There many reasons why you could desire to trade a diamond that in your possession. Perhaps you’ve gotten a divorce, or perhaps you need money but the purpose don’t really matter much, it is getting the greatest possible price that matters! The way to get the best price for the stone is to not be rushed so take it slow, and cautiously consider all of your choices – there are lots.
First of all, have your diamond assessed - actually, have it assessed by two or three jewelers to get an accurate estimation of the diamonds value. Inform the appraiser that you need the Rapaport Value, which is the wholesale worth of the stone, which basically lets you know the highest price that you might sell your stone for. If the diamond has no certification, you should consider obtaining a certificate from GIA since this might allow you obtain a more desirable price for your diamond too.
Foremost, try to sell the diamond jewelry on your own, to those you know, because friends and relatives may be interested. If you have no luck with your friends or relations, then you need to turn to outside sources but stay away from pawn brokers! A pawn shop will just offer you about ten percent of what your diamond is worth! In addition stay away from offers involving selling your ring on commitment. There are many factors that might end badly, and there is no shortage of diamond scams –even within widely known jewelry stores.
If your stone is important to you, then you should seriously consider auctioning it through one of the reputed auction houses, like Christie’s or Sotheby’s. If it isn’t what is thought of as an ‘important’ diamond or a good quality example, you should attempt to trade it to a person using classified ads, or even eBay. Still, selling to an individual whom you don’t know might place you in danger – especially if the diamond is valued highly.
The last option should be a jewelry outlet. It is important that you don’t let the diamond leave your sight while in the jewelry shop – you might find that the diamond you entered the store with isn’t the same diamond that you leave with! The trader might attempt to inform you that the diamond is of poor quality or low weight and of course, there will always be an issue with the diamond. This is where the estimate and/or certificate should be useful and if the jeweler is reasonable, they will offer you somewhere between sixty and eighty percent of the total value of the rapaport Value. Don’t take anything less than this and once again, do not let your stone to leave your vision until you have been paid for it.
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