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Choosing the Right Place to Sell Your Diamonds

Choosing the Right Place to Sell Your Diamonds

2017-10-27

You may have various reasons for selling your diamond ring. Perhaps it holds painful memories of lost loved ones or past relationships, or maybe it's just time for something new. Whatever the reason, you couldn't pick a better time to sell your diamond than right now. While diamond prices are on the uptick, take advantage by selling your ring for cash.

Diamonds

Where to Sell

When selling a diamond ring, you have several options to choose from. The trick, however, is knowing how to pick the right buyer to make sure you maximize payout and lower your stress in the process.

Online

Websites like Craigslist and eBay are definitely options to consider. Although these sites may work for some, you need to know that they come with their own additional costs and headaches. For example, eBay has member fees, and you must ship the package yourself. Also, Craigslist is quick, but you are mainly meeting strangers with an expensive piece of jewelry, so it carries its own risks.

Auction

This is a good option if your diamond is of high value. If you have time to sit at an auction all day, you may consider finding one near you. But, at an auction, you still may not receive the full value of your item.

Private Buyers

If you can find a reputable buyer, this is most times the best way to get top dollar for your stone. A good rule of thumb is to take your diamond to as many buyers as you can find in your area and compare offers.

Finding a Buyer

Unfortunately, it doesn't come as much of a surprise that some jewelers will take advantage of customers who are uneducated on the quality of their stone. Here are some things to look for when selling.

  • Look for buyers with high Yelp and BBB reviews. A quick search on Google usually does the trick.
  • Confirm that the buyer is certified and that they use certified equipment.
  • Before entering a shop, do some research of your own to find out as much information as you can on your stone's shape, cut, and value.
  • Beware of buyers advertising exaggerated estimates. If it seems too good to be true, it probably is. Many times, buyers use this tactic just to get people in the door.

If you would like to know more about what to know when selling your diamond or would like to find places to sell diamonds in Atlanta, feel free to contact the pros at Elan Diamond Group.

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GIA Diamonds International Watch & Jewelry Guild