There are several grounds why you might wish to sell a stone that in your possession. Maybe you’re going through divorced, or perhaps are strapped for money but the purpose doesn’t really matter much, it is obtaining the best price you can is what counts! The way to get the best price for your diamond is to not be rushed so slow down, and carefully go through all of your options – the’re several.
First of all, get the diamond appraised – actually, have it assessed by two or three jewelers to obtain an accurate idea of of it’s value. Tell the appraiser you need the Rapaport Value, that is to say the wholesale worth of your diamond, which basically lets you know the highest price which you might sell your diamond for. If the diamond lacks certification, you should think about obtaining a certificate through GIA since this might allow you get a more desirable price for the diamond too.
Foremost, attempt to sell the stone on your own, to those that you know, as friends and relations may be curious. If you don’t have any luck with friends or even relations, you need to consult with outside sources but stay away from pawn brokers! A pawn shop will just offer you about ten percent of what your diamond is actually valued at! Also avoid offers regarding selling your ring on consignment. The’re a lot different things that could go badly, and there are many diamond scams –even in widely known jewelry stores.
If the stone is important to you, then you ought to seriously think about auctioning it through one of the reputed auction houses, like Christie’s or Sotheby’s. If it’s not what’s considered an ‘important’ stone or a high-end example, then you may want to try to sell it to an individual through classified ads, or perhaps eBay. Though, selling to an individual that you do not know could put you in a dangerous situation – and even more so if the diamond is valued highly.
The last option should be a jewelry outlet. It is important that you don’t let the diamond leave your sight while in the jewelry stockist – as you may find that the diamond you walked the store with isn’t the same diamond that you walk out with! The jeweler could attempt to inform you that your diamond is of bad grade or low weight and inevitably, there will be an issue with your diamond. This is where your estimate and/or certificate may come in handy and if the jeweler is reasonable, they’ll propose between 60 and 80 percent of the total value of the Rapaport Value. Don’t take anything less than this and as always, don’t allow your diamond out of your sight until you’ve received payment for it.
