Sell My Diamond

Do you lose money when selling a diamond ?

The amount you will lose selling a diamond depends on several factors, including the quality and characteristics of the diamond, the current market demand and prices for diamonds, and the method of sale.

In general, you can expect to receive a lower price for a diamond when you sell it compared to the price you paid for it. This is because the diamond market is highly competitive, and buyers will typically offer a lower price to ensure they can make a profit when they resell the diamond.

If you sell your diamond through a jeweller, you can expect to receive a lower price compared to selling it through a private sale or auction. Jewellers typically offer a lower price because they need to make a profit on the resale of the diamond, and they need to cover their overhead costs.

To get a better idea of how much you can expect to receive for your diamond, you may want to have it appraised by a certified appraiser or seek the advice of a reputable jeweller. They can give you an estimate of the diamond’s value based on its characteristics and the current market conditions. The DCLA. GIA, HRD and IGI are a good place to start the process.

One of the biggest factors affecting the resale value of a diamond is its quality.

Diamonds are graded based on their cut, colour, clarity, and carat weight, and diamonds with higher grades will generally command higher prices than those with lower grades. Other factors that can affect the resale value of a diamond include its shape, rarity, and the current demand for diamonds in the market.

Source: Michael Cohen DCLA

How do I sell a diamond or diamond ring ?

Trading in or selling a diamond or diamond ring, typically involves finding a reputable diamond buyer or dealer who will purchase the diamond from you at a fair price. Here are some steps to consider when trading in a diamond:

Determine the value of your diamond: Before you approach any diamond buyer, it’s important to have an idea of what your diamond is worth. You can get an estimate by researching the 4 Cs of diamonds – carat weight, cut, clarity, and color – and comparing your diamond to similar ones online or in stores.

Find a reputable buyer: Look for a reputable diamond buyer or dealer who has been in business for several years and has a good reputation. You can check reviews online, ask for recommendations from friends or family, or visit your local jewelers to find a reliable buyer.

Get a diamond grading report: A diamond grading report is an independent evaluation of your diamond’s quality and characteristics. Having a grading report from a reputable laboratory like GIA, HRD. IGI, DCLA or AGS can help you get a fair price for your diamond.

Negotiate the price: Once you have found a buyer, negotiate the price based on the value of your diamond and the current market conditions. Be prepared to walk away if the offer is too low or doesn’t meet your expectations.

Complete the transaction: If you agree on a price, make sure to get a receipt or invoice for the transaction. You may also need to provide proof of ownership and identification.

Overall, trading in a diamond requires research, patience, and careful consideration to ensure that you get the best possible price for your diamond.

Call the DCLA for advice 02 92612104

SELLING YOUR DIAMOND ?

If you are you considering selling your diamond, but feel as though you have no idea how or where to begin with the process?

This article will give you a few tips to help you along the way.

TIP #1 Diamonds are usually given to display love, making the sentimental value higher to the seller than the actual value to a buyer. Should you be in the market to sell your diamond, make sure you are ready to part with the diamond before beginning the process.

TIP #2 Be sure of the quality and authenticity of what you are trying to sell. Make sure of the quality and the grade of the stone. This is most important for the ultimate value of the diamond. There have been many instances where a seller is committed to selling their diamond only to find out the quality isn’t as described when originally purchased.

There are Jewellers or services available, who will give an unbiased assessment of your stone. But it is far more valuable in the long run to get a report from a recognised Laboratory.

It is also recommended to verify the report matches the Laser inscription before placing your diamond on the market, to assure your diamond is the same stone should it not sell.

TIP #3 Now that you have an accurate report of the quality, make sure you get a realistic selling value. Believing the diamond holds a higher value than it truly possesses will lead to a challenging, frustrating experience which can be dragged out.

An appraiser can assist you with determining a fair selling, price so you can avoid this pitfall. Diamonds are priced in US dollars, so your diamonds price will be affected when converted to your local currency.

A good way to see current retail values is to visit online stores like dcladiamondexchange.com.au or bluenile.com.

TIP #4 There are many ways to sell a preloved diamond or diamond jewellery. Research your selling options to make an educated decision that works best for you. Be it an online market or exploring options through a local jeweller or dealer, be sure you are using the best option for your needs.

Example, if time is not of the essence, an online market or an auction house could be the best way forward. If you want a quick sale, visiting your local dealer may be the best option.

DCLA Diamond Laboratory provides an internationally recognised and respected report to any seller or prospective buyer.

DCLA will provide you with an experience expert to advise you and give you the accurate value protecting you when selling. Our goal is to provide you with as much knowledge as possible.

Visit www.dcla.com.au for information advice or to make an appointment.

Or call us on 1300 413 425 or Sydney 02 92612104