| Most advertising campaigns by De Beers feature | | | | pay you. All too often, this amount is much less |
| their famous slogan "A Diamond is Forever." | | | | than their preliminary estimate so you must either |
| Consequently, women seldom sell a diamond and | | | | pay the return shipping, or accept their price. If |
| often feel uncomfortable buying diamonds | | | | your main priority is getting money fast, this is a |
| previously owned by other women. There is a | | | | valid option. If your main priority is getting top |
| sentimental aspect to diamonds that is very | | | | dollar for your diamond, there are better selling |
| different from other tangible assets like boats, | | | | methods available to you. |
| houses or automobiles. However, there are | | | | Auctions like eBay are very popular for selling |
| occasions when consumers need to sell their | | | | jewelry items but there is so much low quality |
| diamonds and, unlike the used car market, there | | | | jewelry listed, it is hard for potential buyer to find |
| is not a well-developed method for consumers to | | | | your quality diamond. You are competing with |
| sell their diamonds. | | | | jewelry retailers whose entire business is selling on |
| As a consumer, you face some unique challenges | | | | eBay so they are experts at writing the |
| when trying to get the best price for your | | | | descriptions (often with exaggerated quality), |
| diamond in a safe and comfortable manner. | | | | taking impressive pictures and shipping their |
| Your starting point is to know exactly what you | | | | items. Even if a bidder does find your item, the |
| are selling. This is much easier if the diamond has | | | | odds of getting your target price are slim to nil |
| a grading report from a major laboratory like the | | | | because other retailers are advertising items with |
| GIA or AGS. You have more of a challenge if | | | | similar descriptions for about half the amount you |
| there is no formal grading report. In this case, | | | | want. Notice I did not say they are advertising |
| you need to find an independent appraiser who | | | | similar quality, just similar descriptions. Do a |
| can evaluate the diamond and determine its | | | | search for diamond rings with GIA grading reports |
| quality and potential value. | | | | and you will see the vast majority of diamond |
| Once you know your diamond's specifications, you | | | | rings have paperwork from sources you have |
| can find the current retail asking price by checking | | | | never heard of before. |
| with online retailers to see what similar diamonds | | | | Other effective ways to find a buyer are |
| are selling for in today's retail market. It is | | | | classified ads in local newspapers and bulletin |
| unlikely you will be able to get the going retail | | | | boards at church or work. The challenge is |
| price for your diamond. Selling your diamond at | | | | reaching enough people to find at least one buyer |
| 80% to 90% of that amount would make it sell | | | | willing to pay your price. You have to be careful |
| quicker. Be realistic about your expectations. | | | | when doing this kind of transaction, especially if |
| The lowest cost online retailers, not the expensive | | | | selling to a stranger. Do the transaction in a safe |
| jewelry stores with double the price, set the | | | | place and be sure you have a valid form of |
| value of your diamond. | | | | payment. You do not want to hand over your |
| You now know your target price and simply have | | | | diamond and end up with a phony cashiers check |
| to figure out how to find the right buyer for your | | | | or bad personal check. |
| diamond. There are several options available to | | | | Some jewelry stores and online retailers will sell |
| sell your diamond and you need to determine | | | | your diamond on consignment. Online retailers |
| which is best for maximizing your money and | | | | with a local presence have an advantage in that |
| safety while minimizing your time and effort. | | | | they have large numbers of diamond shoppers on |
| Your first thought might be to go to the closest | | | | their website plus walk in traffic that can see your |
| jewelry store or pawnshop and sell them the | | | | diamond in person. They also have lower |
| diamond. The key to remember here is that | | | | overhead and prices so you can get a bigger |
| they do not need your diamond. They can get | | | | share of the selling price. With jewelry stores |
| all the diamonds they want on the wholesale | | | | often marking up prices over 100%, your share is |
| market. The only reason they will buy your | | | | likely to be less than half of the selling price. |
| diamond is if the price is a fraction of the | | | | Just be sure to get a written description of the |
| wholesale price. They hope you need the money | | | | item you are giving on consignment and the |
| bad enough to take 25%-50% of what you could | | | | minimum amount you will accept for your |
| be getting for your diamond elsewhere. They | | | | diamond. All too often sellers are not being able |
| might offer you a little more if you "trade up" to | | | | to get their jewelry items back from a store or |
| something in their display case. However, this | | | | only receive a fraction of the amount they |
| often results in you paying more for the new | | | | expected from the sale. However, if you have |
| diamond and receiving less for your diamond than | | | | patience and a low priced, trustworthy retailer to |
| if you sold it elsewhere. | | | | broker your diamond, you have an excellent |
| Several online brokers specialize in buying | | | | chance of getting an excellent price for your |
| diamonds and estate jewelry from consumers. | | | | diamond without the hassle and safety issues of |
| They typically have you ship the diamond to | | | | selling it yourself. |
| them so they can determine the amount they will | | | | |