Ultimate Guide for Selling Loose Diamonds Online

Posted by Rahul Paul on December 7th, 2020

Diamonds are difficult to value because they have more than 20 characteristics, which determine their worth. These characteristics include fluorescence and color, just mention a few.

It is important to have your diamonds removed from its loose and setting before having them evaluated, appraised, and graded by potential buyers. Choosing to sell your loose diamonds may be an emotional and significant decision. This is why you will need to consider this ultimate guide to make every decision right:

1. Understand the Difference Between Appraisal Value and Cash Offer

If you are looking at the appraisal value of diamonds, chances are they will be higher than cash offers. The reason for this is that appraisal values are the cost, which insurance firms will value if your diamonds were to get replaced.

On the other hand, cash offers are a price, which buyers want to pay for your diamonds. Similar to used vehicles, diamonds will sell for a lesser price than the original cost. Therefore, don’t expect to get paid for the appraisal value if you choose to sell your loose diamonds.

2. Go for the Highest Offer

Loose diamonds, particularly well-cut and larger ones, are prized by most of the professional collectors and jewelers who are part of your buyer’s network. Most newly mined diamonds are associated with environmental damage and are married by a political conflict.

Even in the conflict-free industry, high quality and large diamonds have become very expensive to mine and challenging to get. The demand for loose diamonds is high despite these issues, ensuring that quality items remain as hot commodities for buyers to purchase.

3. Look for a Shop

All diamond shops are different. In this time and era, it is possible to sell loose diamonds to online shops. Because of this, it would be important to thoroughly research before you choose a shop to sell your diamonds.

By researching, you will get a diamond shop, which buys high-value gems. Shops with positive reviews, experience, and a good reputation may also be the right platforms to sell your diamonds.

4. Have Supporting Documents

Among the best ways to get a good offer for your diamonds is to get certificates from gemological labs, original receipts, or insurance appraisals. With these documents, buyers will have a bigger picture regarding what others value.

Doing this may help to keep the sale of your diamonds less subjective and more objective.

5. Get Different Quotes

You might be tempted to consider the first option you get for your diamonds. Though, you need to be sure that you get different quotes before you accept any offer.

Comparing different quotes will allow you to choose the best bid you want for your valuable diamonds. It will also offer you more time to compare different sellers and make sure you are not working with a scammer.

The Bottom Line!

When it comes to buying loose diamonds, online shopping could be the solution you need. There are benefits of buying diamonds from authentic shopping sites.

Unlike many online sites, the quality of diamonds differs from each – meaning it may be challenging to convince buyers to purchase your loose diamonds. This is why it would be necessary to get different quotes and look for a reliable diamond shop to sell your items successfully.