In need of some quick cash? One of the most convenient ways to do so, is to sell loose diamonds online. You must be thinking – sell my loose diamonds? No way! But when you are hard up, they can be one of the best assets for which you can get cash.
Before Selling Loose Diamonds…
It certainly helps if the diamond comes with a certificate from a gemological laboratory. The industry standard globally is the Gemological Institute of America (GIA). If your diamond has a GIA certification, it means that it has a traceable history of ownership and is 100% legal. When diamonds lack certification, it is tough to understand if the diamond is “conflict-free”. Thus, the loose diamond buyer has a clear insight about how the diamond has been valued before.
You must remember the 4 C’s as well – cut, color, carat, and clarity, since they affect the price of the diamonds. Scratches, chips, nicks and imperfections could be an issue too. The higher the quality of the stone, the better will be the price! You should also consider the size of the diamond as it matters in the overall valuation. Needless to say, bigger stones are costlier than smaller ones.
Where To Sell Loose Diamonds?
It is best to steer clear from pawnshops while selling loose diamonds, as the offers aren’t worth it. You are likely to get the least amount of money from such places. If you are well-versed regarding the details of the diamond, then eBay can be a lucrative platform. Create a listing, highlight its best features, mention if the diamond is used, etc. Take into account charges like selling fees, PayPal rates, and listing expenses. Craigslist is yet another option, but there are a lot of frauds lurking here, so it isn’t advisable to use it.
Nowadays, the best way to sell a loose diamond would be to look for independent buyers online. When you sell loose diamonds online, you are at an advantage because these Loose Diamond Buyers don’t have the same kind of overhead like a jeweler. Hence, they might be able to offer a better price for your stone. Don’t rush into the sale with any random buyer while selling loose diamonds. Verify their credibility – check if they are listed in the Better Business Bureau and read reviews, along with website testimonials. The best place to sell loose diamonds with a fast turnaround time is undoubtedly online.
Take Your Time to Think It Through
While selling loose diamonds people are often under the misconception that cash offers and appraisal values are one and the same. When you are given the appraisal value, there are high chances it would be more than a cash offer. Appraisal value is basically what an insurance company will offer for the stone, in case it was to be stolen or misplaced.
A cash offer is when loose diamond buyers offer a price for the stone in its present condition. Keep in mind that diamonds will not be sold for the original price or the appraisal value – the sale prices is much less.
To be fair, there is no “best way to sell loose diamonds” because a particular option might work out for you, but won’t be suitable for others, and vice-versa. The decision to sell your loose diamond is a deeply personal one, keep your emotions at bay, or else it could cloud your judgement. As mentioned, you don’t have to hurriedly go for the sale. If you feel that something is off, trust your gut and cancel the deal immediately. In case you aren’t sure about the offer of selling loose diamonds, ask for a few days to think about it. Use the time to check if the offer is actually good enough. If you feel comfortable with it, go ahead and sell your loose diamond!