Selling your loose diamonds can be a great way to come up with some much needed cash. The market for loose diamonds is broad and includes all walks of life. From jewellers, and investors to common consumers looking to purchase their own diamonds, you should be able to sell your rocks in no time at all. Here are some tips for selling diamonds to get you pointed in the right direction.
Determine the value of your diamonds
Before you can put your diamonds out there for potential buyers you’ve got to know what they are worth. There are a couple of ways you can go about this. First, you could have them appraised by a qualified jeweler or at an independent gemologist laboratory.
The most reputable gemologist laboratory is the Gemological Institution of America; more commonly referred to as the GIA. Two other popular gemological laboratories are the American Gem Society (AGS), and the International Gemological Institution (IGI). These laboratories will use the 4 C’s (clarity, color, cut, and carat) to evaluate and grade for your diamonds.
It’s important to understand that when your loose diamonds have been certified, you will have the knowledge to place a value on your diamonds that you can confidently stand behind. Next, do some research into what other similar diamonds are selling for.
A great tool for this is the Rapaport Diamond Report. This is a weekly, industry-wide report diamond retailers use to place value on the diamonds they sell. Additionally, you can browse the web or window shop locally to get an idea of the value of your rocks. Now it’s time to advertise the diamonds for sale.
There are a few great avenues you can use to get the news out there that you have loose diamonds for sale. Your local newspaper is one. This will attract people in your immediate area which may save you some money by not having to ship the merchandise to a buyer. You could also advertise them for sale on any online auction site.
The widely-popular eBay is one, but there are many others like Etsy, and Ubib that consumers have had great success selling their wares on. Check out these and other sites, and see which one(s) best suits your needs. You could also sell them through a local diamond store; though you would have to sell them on consignment which means you’ll have to give the jewelry shop owner a cut of the sale.
Finally, don’t rule out advertising your loose diamonds for sale on your personal blog or the ever-popular, Facebook. There are some precautions you should take that are extremely important to your safety no matter which venue you choose to sell your diamonds in.
If you meet personally with a potential buyer, do so in a public place. Bring a friend with you as well if that’s possible. Also, once you’ve let the cat out of the bag that you’ve got stones in your possession, it would be a wise idea to keep them in a safe deposit box, or in a secure home safe until you have sold them.