How to Sell A Diamond

There are many reasons why you may want

to sell a diamond that you own. Perhaps

you’ve gotten divorced, or you are strapped

for cash. The reasons why don’t really matter

– getting the best possible price is what

counts! The way to obtain the best price

for the diamond is to not be in a rush. Slow

down, and carefully consider all of your

options – there are many.



First, have the diamond appraised. In fact,

have it appraised by two or three jewelers to

get an accurate idea of the diamonds value.

Tell the appraiser that you want the Rapaport

Value. This is the wholesale value of the

diamond, and it basically tells you the highest

price that you can sell your diamond for. If your

diamond has no certificate, you should

consider getting a certificate from GIA. This

may help you get a better price for the

diamond as well.



First, try to sell the diamond yourself, to

people you know. Friends and family

members may be interested. If you don’t have

any luck with friends or family members, you

should turn to outside sources. Absolutely

avoid pawn shops! A pawn shop will only offer

you about 10% of what the diamond is worth!

Also avoid offers of selling the ring on

consignment. There are many things that

can go wrong, and there is no shortage of

diamond scams – even in well known

jewelry stores.



If the diamond is important, you should

strongly consider auctioning it off through

one of the famous auction houses, such as

Christie’s or Sotheby’s. If it isn’t what is

considered an ‘important’ diamond or a

high-end diamond, you should try to sell it

to an individual using classified ads, or even

eBay. However, selling to an individual that

you do not know could put you in danger –

especially if the diamond is worth a lot of

money.



Your final option should be a jewelry store. It

is vital that you not let your diamond out of

your sight while in the jewelry store – you

might find that the diamond you walked in

with is not the same diamond that you walk

out with! The jeweler will try to tell you that

your diamond is of poor quality or low

weight. Inevitably, there will be some

problem with the diamond. This is where

your appraisal and/or certificate will come

in handy.



If the jeweler is fair, they will offer you

between 60% and 80% of the value of the

Rapaport Value. Do not accept anything less

than this. Again, do not let the diamond out of

your sight until you have been paid for it.