If you are ready to sell a diamond, the first thing you need to do is find out exactly what you have. A diamond is valued by using a grading system. However, these standards can vary. Any offer you receive for the diamond you have for sale will be directly dependent on how the buyer sees the diamond and the grades. This is why it is a good idea to figure out what those grades will be prior to putting it up for sale.
If you have documentation, such as a lab grading report, that you received when you purchased the diamond, this can be beneficial. It will also help you determine a fair diamond resale value. It is important to remember, though, even if you have papers on the diamond, the jewelers in the NYC diamond district may use their own standards to determine the worth. This may result in you being offered a lower price than anticipated.
It is also important to think about how you want to sell your diamond. There are multiple avenues that can work. You can sell the diamond online, through sites such as Craigslist or eBay. You can also put your ring up for consignment, which means someone else sells it for you and you receive a portion of the profits. Another option is to sell it to a local jeweler. Taking the time to figure out the right option for you will help you sell the ring for the highest price possible.
When it comes time to learn how to sell an engagement ring, there are certain facts you should be aware of. These include:
- You have to be realistic about the price you ask.
- You will not get the full resale value of the ring (in the majority of situations).
- If you don’t have papers or an appraisal for the ring, you will not know whether or not you are getting a fair price.
If you take the time to learn about what your ring is worth, it will pay off in the long run. You will be able to feel confident when it comes time to sell the item. Don’t rush into a sale or let someone pressure you to take a price that is lower than you desire. There are buyers out there who will pay a fair price. Using the tips here and taking the time to find them is the best course of action.