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.