Are you looking to sell your diamond engagement ring to get some fast cash? Do you want to sell the diamonds you have in your collection? If so, then you need to find the right diamond buyers in NJ to do so.
Finding reputable buyers in New Jersey is key to the sale of your diamonds. If you put your valuables in front of the wrong person, you could end up walking away with a lot less than their actual value.
See below for an in-depth guide on everything you should look for whenever you're interested in selling diamonds in New Jersey.
1. Know the 4 C's of Diamonds
For those who have attempted to sell used items in the past, you know how tricky the valuation process can be. Some items just don't have a good process for how to evaluate them.
That isn't the case when you go to sell diamonds. Diamonds have one of the best quality grading systems of any item, known as the 4 C's of Diamonds. These are four factors that every diamond appraiser uses to assess the quality of the diamond you place in front of them.
The 4 C's of Diamonds are as follows:
Color- Contrary to popular belief, a diamond's lack of color makes it more valuable.
Cut- Precision is everything. The appraiser will look into the cut's details, make sure proportions are balanced, angles are well-defined, and so forth.
Carat- The heavier the diamond, the more valuable it is.
Clarity- If your diamond is void of any tarnishing, then you can expect your diamond to be worth top dollar.
Knowing these four factors can help you understand the value of your diamond. While you shouldn't expect to get back as much as you initially paid for it, these four C's go a long way towards waiting out for the right offer.
2. Find the Right Buyer
This should be prefaced by saying that you should always sell your diamonds to a legitimate, accredited diamond buying company. Never sell to a private buyer that has no legitimate history of buying diamonds.
Selling your diamond to an accredited company provides more accountability during the sale. Not to mention that their staff will be better informed on the current value of your diamond and work out a price that's opportunistic for both sides.
If you sell to a private buyer, you risk selling it for less than its current value.
Instead, look for a diamond buyer in New Jersey with a proven track record of providing nothing but five-star service. One of the most helpful ways to gauge whether a company is trustworthy is by reading up on their online Google reviews.
Google the company's title, then read through the reviews that you find. Do the clients seem satisfied with the service they received? Did they get a fair offer for when they went to sell diamond engagement rings, gold for cash, and other valuables?
If the company has a list of satisfied customers, it can give you more confidence as you sell your diamond valuables.
3. Consider Where You Purchased the Diamond From
One of the most common misconceptions about diamond selling is that you should aim to get back what you initially paid for it. In some cases, that can be done, but it's infrequent.
It would be best if you start by considering where you purchased your diamonds from and how that factors into the equation.
For example, let's say that you purchased your diamond ring from a local jewelry store. Whether you realized it at the time or not, you paid a markup price for the ring. This was to help the store cover labor costs for their employees, utilities, etc.
You should not expect to get that markup price back when you resell your diamonds. You will get something equal to the actual value of the diamond.
4. Find a Knowledgeable Service
You shouldn't have to be a licensed diamond appraiser to get the best value for the diamonds you wish to sell. Thankfully, many genuine diamond buyers offer free and honest evaluations at their stores.
We here at American Gold & Diamond Buyers offer in-store valuations, as well as online quotes. You need only provide us with information on what you're selling, photos of your valuables, and a brief description of the item.
We'll use that information to give you a quick quote. After that, you can schedule a time to swing by one of our locations and get a better in-person assessment.
5. Understand Fluctuations
One of the biggest misconceptions in all jewelry buying/selling is that diamonds have a structured value.
The value of diamonds (as well as gold, silver, etc.) acts like stocks. The value fluctuates significantly over time. For example, as you can see from this diamond price index, diamonds' value has decreased since 2011.
But don't let that deter you! You can still get fantastic offers on your diamonds, rings, gold, and so on, as long as you find the right buyer!
Find the Right Diamond Buyers NJ for Your Needs
Now that you have seen an in-depth guide on how to value your diamond and find the right diamond buyers in NJ, be sure to use this information well!
Be sure to read this article to answer the age-old question: when is the best time of year to sell jewelry?
For more inquiries, please be sure to reach out via our contact us page, and we will be happy to assist you further.