Selling diamonds is an easy way to bring in some extra cash. Diamonds are precious, but that doesn't guarantee that you'll get top dollar when you go to sell yours.
Buyers will try to spend as little as possible, so it's important to know the exact value of what you have so you get what you deserve.
Read on for our guide to pricing diamonds before you place your jewels on the market.
When looking to sell your diamonds and diamond jewelry, the first thing you should do is take them to a gemologist and get them appraised. You may be trying to sell a family heirloom or a piece of jewelry that was gifted to you, and although it may be beautiful, it could very well be worth nothing in value.
Gemologists will inspect your jewelry and make sure the diamonds are real, and assess how much it's worth.
There are a couple of ways for you to get this done. You could take your diamonds to a jewelry store to their on-hand appraiser, find an independent appraiser, and make an appointment.
This is a crucial step in figuring out how to price diamonds you want to sell because it gives you a more realistic view of what you have and helps you proceed accordingly.
Get It Graded
After getting your diamonds appraised, you should then get it graded and obtain a certificate. This is different from the appraisal process because the grade solely examines the quality of what you have, not the value.
During this process, your jewelry will get sent to a lab and thoroughly inspected, looking at aspects such as the carat's weight, cut, color, and clarity. Once your diamond is graded, you'll receive your certificate, which will help provide further guidance on pricing your diamonds.
Set Your Price
After getting your jewelry appraised and graded, it's time to set your price based on your received information.
If you're still having trouble deciding how much to sell it for, survey the market and see what similar styles are being sold for and go from there. You should be fair with how you price diamonds but also set yourself up for a profit.
Try to settle on a fair price that allows room for negotiations and still sets you up for success.
Lastly, it's time to shop your diamonds around. Take it to different jewelers and gauge how much each one is willing to spend.
You can also include shopping your diamonds on online platforms to receive more offers and more forward with the highest bid.
Pricing Diamonds for Bigger Profits
It takes time to figure out how to price diamonds accurately and fairly, and we hope this guide was helping and provided some direction.
Pricing diamonds is a delicate process because you don't want to under or oversell your jewelry. Instead, you want to put a quality product on the market at a fair and reasonable price for both you and the buyer. Knowing how to price your diamonds properly is a win-win situation because it will bring in more money for you and leave your buyers satisfied!
Are you interested in selling jewelry? Then contact us today to learn more about how we can help you start the process.