| Many people want to sell their diamonds or | | | | of your stone. It is a good idea to check what |
| diamond jewelry but don't know where to begin. | | | | similar items have recently sold for on sites such |
| How do you know what your piece is worth? | | | | as eBay (requiring an account to view "Completed |
| What are your options concerning where to sell it | | | | Listings"). One thing you can be virtually certain of: |
| and to whom? And most importantly, how do | | | | if you bought your diamond from a retail store, |
| you keep yourself from becoming a victim of | | | | you will not be able to resell the diamond at the |
| fraud or compromising your personal safety? | | | | price you paid for it. |
| Unless you are a professional diamond dealer, the | | | | As far as where you sell your diamond jewelry, |
| transaction of selling your diamond jewelry can be | | | | you have a choice of two main directions. You |
| quite intimidating. Learning a few tips can simplify | | | | can either sell to a private party, or sell to or |
| the process and ensure that you collect cash for | | | | through a professional. Selling to a private party |
| your piece instead of allowing it to sit in a drawer | | | | will most likely bring in the highest dollar amount. |
| collecting dust. | | | | However, there are substantial risks if you wish |
| The resale worth of a diamond is dependent on | | | | to go this route. Scammers are prevalent |
| many factors. While many consumers have heard | | | | regardless of where you list your piece, and it can |
| of the 4 Cs (carat, color, clarity and cut), they | | | | take substantial time to sell a piece this way. If |
| may be confused as to what those terms mean | | | | you use a site such as craigslist.org, which has the |
| and how they affect the value of their diamond. | | | | advantage of being free, you must be especially |
| It is important to remember the color and clarity | | | | careful of your personal safety and common |
| can be slightly subjective when using the | | | | fraud. Only accept cash and agree to meet |
| venerable standards of GIA (Gemological Institute | | | | somewhere public and safe such as a bank lobby |
| of America). For example, a person may | | | | or jewelry store. The auction site eBay carries |
| purchase a diamond and be told that its color is H | | | | less risk of personal safety and fraud, but fees |
| (near colorless) when, in fact, the stone is much | | | | are applicable regardless of whether or not your |
| closer to K (where a faint yellow tinge would be | | | | piece sells and listing the same piece in multiple |
| quite visible). Also, many consumers mistake "cut" | | | | locations is discouraged. |
| for "shape;" the former refers to the proportions | | | | If you want to avoid the hassle of selling to a |
| and cut specifications of the stone and will greatly | | | | private party, you have the option of either selling |
| impact the brilliance and therefore the value of | | | | on consignment, or selling directly to a buyer. |
| the stone. Shape is also relevant, since all fancies | | | | When you place your piece on consignment, you |
| (marquise, pear, princess, radiant, cushion, asscher, | | | | agree to allow the store to sell your item and |
| oval, heart, and emerald cuts) are valued well | | | | give you a percentage of the proceeds once the |
| below the most popular shape: the round brilliant | | | | item sells. Before leaving your diamond jewelry at |
| cut. Old European cuts (circa 1880-1930) can be | | | | a store, make sure you have a copy of their |
| more valuable than their fancy shape | | | | sales' terms in writing (including how long they |
| counterparts due to popular demand. | | | | wait until dropping the price) and an accurate |
| Commonly, people believe if they have an | | | | description of your item. Remember that even if |
| appraisal, this document represents the value of | | | | a shop agrees to take your item, there is no |
| their piece. In fact, an appraisal is mainly for | | | | guarantee it will sell. If you want to avoid the risks |
| insurance purposes and reflects a high retail | | | | of private party selling and the waiting for |
| replacement value-irrelevant when it comes to | | | | payment necessary in consignment, your best |
| resale. If you are lucky enough to possess a | | | | option is to sell directly to a professional buyer |
| report from a reputable lab such as GIA or AGS, | | | | where you will receive an immediate offer for |
| then this can be very beneficial in determining | | | | your jewelry. Whether you decide to proceed |
| value. Since these labs have an excellent | | | | with the consignment option or sell to jewelry |
| reputation and are independently run, the specs | | | | professional, be sure to check their rating with the |
| they report are reliable and will help assure buyers | | | | Better Business Bureau as well as consumer |
| that your item is exactly what you represent it | | | | driven websites such as Surprisingly, some |
| to be. If you do not have one of these lab | | | | extremely well-known national companies have |
| reports, it may be worth getting one, but this | | | | low ratings due to shady business practices, so it |
| represents an additional cost and only makes | | | | pays to do your homework. |
| sense to obtain if your stone is of higher value. | | | | A trustworthy professional buyer will be able to |
| Consult more than one reputable jeweler in your | | | | explain in detail why he or she is offering a certain |
| area for advice on this as well as what he or she | | | | amount and offer you ample time without |
| believes to be the specifications and resale value | | | | pressure to decide whether or not to sell. |