How Much Money do You Get If You Sell a Diamond?
Diamonds indeed have a resale value, and you will get money when you sell them. However, the money will be much less than the price you paid to buy them when the diamonds were brand new. There are some cases when you may face a loss.
The resale value of the diamond when you sell the Diamonds onlinedepends on several factors. If you consider all the factors, you may save yourself from experiencing a significant loss.
Diamonds Resale Value
All diamonds have a resale value. It doesn’t matter if it is an engagement ring, earrings, or a necklace; they will have a resale value. But you should know that you won’t get the exact amount of money you spent on buying the diamond. The resale value will always be less than the original amount.
Diamond Grading Certificate
The amount of money you will get from selling diamonds directly depends on the quality of the diamonds. If the diamond is trustworthy, you won’t face any difficulties finding buyers.
That’s why it is advisable to always ask for grading certificates while you are purchasing diamonds. These certificates are proof that your diamond is real, hence trustworthy.
Where Did You Buy Your Diamond Ring From?
Next is the place of purchase. When you buy a diamond from a jewelry store, you pay a total amount of market value as well as the market added price by the retail store.
When you buy diamonds from retail shops, you pay twice what the jeweler paid the wholesaler for the diamond. It is how the retail market works.
It means that if you try selling a diamond online that you bought from a jewelry shop, you won’t make any money because there is a huge markup positioned at the market that you won’t ever get back.
4Cs of Diamond
Those who own diamonds, even if it is a single diamond, know what 4Cs of diamonds are. These 4Cs play a role in determining the resale value of your diamond.
The 4Cs of diamonds are-
Cut, clarity, color, and carat.
These factors are also mentioned in the grading certificate of all kinds of diamonds. That’s why it is important to ask for the certificates before you sell your diamonds online.
The more the value of the carat, the more will be the reselling value of the diamonds. These factors are a direct reflection of the diamond’s quality.
Select the Right Market
We have talked about the importance of selecting the right diamond, and similarly, picking the right resale market at the right time is equally important.
You have plenty of options where you can sell your diamonds, such as retailers, auctions, pawnshops, and jewelers, choose the right place where you know you would receive more resale value for your diamonds.
Before going to any of these places, search about the market value for the type of diamond you have. If the value is at its maximum, then only finalize the selling of your diamonds online.
Whenever you sell diamonds, even if you are selling loose diamonds, you should know that you will get 25% to 50% lower than the price you bought them.