Selling Loose Diamonds
Selling Loose Diamonds
There are numerous different ways to sell loose diamonds. The most important factor is being certain you are paid what they are worth. Having a good idea of the value before you try to sell them is an excellent idea. There are many reputable jewelers who will give you an appraisal for a small fee. When that fee enables you to get a better price it becomes worth every penny.
Your first option is to go to a pawn shop. This will get you money quickly but in a lesser amount. This is because pawn shops buy your diamonds with the idea you will buy them back for a percentage more than what they paid you. It is more like getting a loan on your jewelry than actually selling it to them. Unless you are in desperate need of money quickly this is not the way to sell your loose diamonds.
Another option is eBay. This will only work if you are familiar with all of the details about your stones. You will also definatly need an appraisal that includes the exact specifics on the weight of the carats, the cut, the clarity and the color. One of the problems here is taking a really good picture of a diamond is difficult. You can use the light to your best advantage and still not have a good picture. As a lot of eBay buyers base their purchases partially on the photographs you will probably not be able to get what they are worth. You must also disclose if the diamonds have ever been used. Then you have to deal with a lot of fees. There are listing fees, PayPal fees, selling fees and the cost of shipping. Even if you are successful the stones can always be sent back.
Craigslist is yet another option. Your posting is free which is nice. The biggest problem here is the amount of craziness you usually get from a post. Smaller items and furniture tend to do quite well but for the more expensive items you are taking a big risk. Keep in mind you will be showing your loose diamonds to people who are strangers. Even with someone there for protection you are risking being robbed. Someone who understands the worth of the diamonds may cause you physical harm to get them away from you. You have absolutely no anonymity with Craigslist. This is probably not a good option for you.
Consignment is always a decent possibility. Auction houses and reputable jewelers usually take stones on a consignment basis. Your stones will be beautifully displayed in a case and will attract their fair amount of attention. The best part of this scenario is that when your stones do sell you will get an excellent price for them. Consignment fees are usually quite reasonable and you will not have to work to sell your loose diamonds. You will usually be required to sign some type of a contract saying you agree to leave the stones there for a specific period of time. If they do not sell within this time you do get your stones back. The bad part of this scenario is that it is time consuming and you have no guarantee your stones will even sell. In the event they don't you are left in the exact same spot you were before you put them on consignment in the first place.
Probably the best option is to go directly to a diamond buyer. This is completely different than trying to sell your diamonds to a regular jeweler. The overhead of a diamond buyer is considerably less than that of a traditional jeweler. This means they will be able to offer you a much better price than a jeweler possibly could. It is incredibly important that you are certain the diamond buyer you approach is legitimate. Looking at testimonials on the internet can help. Customer reviews are also incredibly important as they will give you a good idea as to how the diamond broker operates. An honest diamond broker will most likely belong to the better business bureau and this should be verified before you consider selling your diamonds to them. For more info click on sell loose diamonds.
