Where is the best place to sell a diamond or jewelry?

Meeting at your bank is often the best place to sell a diamond or the safest location to sell jewelry. Getting paid in person is often the best way to sell a diamond or valuable piece of jewelry. Please contact us to discuss how to sell diamonds in person rather than selling diamonds online to buyers who will not arrange a face to face transaction.

What is the best way to sell a diamond and jewelry online?

Warning! Be aware many other diamond buyers and jewelry buyers often quote you a high offer, however once you ship your diamond or jewelry and it is in the diamond buyer’s possession, the offer is lowered. Provided the diamond is in the same condition as represented, we pay the price we quote, which often the most for your large diamonds and jewelry.

Most diamond buyers claim to pay the most for diamonds, pay the highest cash price for diamonds and jewelry or pay top dollar for jewelry. But the best way to sell your diamonds and jewelry is to get paid in person or upfront with paypal or have money deposit in escrow before you ship your jewelry. The alternative from the competition is a mere quote that will later decrease after the buyer receives your jewelry.

Getting paid in person or by paypal and escrow assures you will receive the price you are quoted, often eliminating negotiating with a diamond buyer. Allow The Diamond Trade to provide peace of mind and a stress free transaction with the most secure forms a payment for your diamonds, colored gems and jewelry.

Should I sell my diamond at an auction?

Online auctions and auction houses both come with fees.  Most auction houses add a ‘buyer’s premium’ above what the bidder bids.  Twenty (20%) to Twenty (25%) percent buyers premium is a common percentage added.  This will limit what a buyer can pay as it makes bidding too expensive yield a fair amount. Also, keep in mind, the point of buying at an auction is to get a good deal, not pay wholesale or retail. Therefore, bidders are looking to get diamonds for the least amount possible. Selling through auction houses rarely results in more money for the seller and requires you give up possession of your diamond before payment.

Should I consign my diamond with a diamond broker or local jeweler?

Before you consign your diamond or jewelry with a local jeweler there are a few things to consider.  Jewelers often ask for consignment because they have limited resources and cash to buy diamonds and rather work on credit supplied by you.

Diamond brokers will broker your diamonds and take 10% or more from the total sale price. Diamond brokers often list your diamond on a ‘internet diamond trading network’ which dealers, like the diamondtrade.com, buy from regularly.

We have had many diamond brokers contact us to buy consigned diamonds they have in stock from clients.  By contacting thediamondtrade.com you can cut out the middle man and sell direct without paying a third-party commission.  Selling directly to us also avoids giving up physical control of the diamond before you are paid.

Consigning and brokering diamonds carry potential risks of loss including theft, damage, or non-payment from the jeweler’s or broker’s buyer.  Many jewelers and diamond brokers may not carry insurance to protect against theft, loss, or damage to a diamond.  In the event your jeweler or diamond broker were to go bankrupt, you could lose your diamond to their creditors.

Is selling diamonds on Ebay or Craigslist safe?

Selling diamonds and jewelry on ebay or craigslist is an option, however the sites often just  produce false promises from fraudulent individuals with and online scams or low-ball offers from jewelry buyers.   Larger expensive diamonds rarely sell on online auction sites.  How do we know this, we have years of experience in buying diamonds from ebay sellers and the stories they tell us are always the same.

Should I have my diamond GIA certified?

Once your diamond is GIA certified there will rarely be a question as to the diamond’s quality.  GIA’s grading is far more accurate and respected in the diamond business compared to other gem labs.  With some exceptions, we can regularly make you an offer and buy your diamond based on the GIA report alone, without first seeing the diamond. Certifying your diamond with GIA is well worth the money.  GIA’s schedule of fees can be found at www.gia.edu.

Should I have my diamond appraised?

As explained in the GIA FAQs,  jewelry appraisals often not very helpful compared to actually having your diamond certified with the GIA.  Jewelry appraisers, are not diamond graders and often inaccurately grade diamonds.  Appraisals rarely have the essential information a GIA report will contain.  As stated on most jewelry appraisals, the description is only an ‘estimation’ or ‘opinion’ of the quality of the diamond.   In addition, appraisals list grossly inflated retail values for insurance purposes, not resale. It’s best to invest your money in GIA report.