6 Tips for Selling Your Diamonds
6 Tips for Selling Your Diamonds
Digging through a jewelry box, have you stumbled across some diamonds you no longer wear, or possibly inherited diamonds from family members over the years? Have you ever considered selling them to a local diamond buyer? One great way to make some cash on the side is the selling of diamonds, especially when they are ones you no longer wear or are otherwise unwanted.
Emergencies tend to arise when you least expect it, and when they do, not everyone has a nest egg available for that unplanned expense. Your old diamonds can deliver quick cash when this happens. If that’s not the case, you may get tired of the diamond, and a pocket full of money might be just as enticing.
When you are ready to sell your old diamonds, here are Fastcash Pawn & Checkcasher’s 6 tips for selling your diamonds.
1. Make Sure You Are Ready to Let Go
It might be a small step, but it’s the biggest hurdle anyone has when determining when the time is right to sell a diamond. It could be as easy as thinking why hold onto a diamond or piece of jewelry with no sentimental value when you could get cash in your hand for it? You should be ready to let the piece go even if you need quick cash due to an emergency.
Sentimental value is always a tricky part of selling a diamond. Even if it was a diamond you might have never worn, but was passed down by a relative, the decision to sell can be difficult.
Regardless of the situation, you should have no doubts in your mind that you’re ready to sell before meeting with a buyer.
2. Research, Research, Research
Before you meet with a diamond buyer you must research. It is essential to make sure the diamond buyer you decide to sell to is reputable while going through this process.
Doing an online search through the Better Business Bureau to ensure the establishment has high ratings. Also, look for various reviews online and see what previous customers have to say about their experience with the company. Furthermore, make sure that any diamond buyer you are considering does not have any hidden fees.
3.Understand the Worth of Your Diamond
A true professional can tell if a diamond is real or not without even looking underneath a microscope. It will save you some time before meeting the diamond buyer with these two tricks to determine the diamond’s authenticity if you do not have the paperwork authenticating the piece.
The first trick is the water test. Drop your diamond in a glass of water, and if it floats, then the jewel is not a diamond. Real diamonds sink to the bottom of the glass. The second trick is to take a close look at the settings that the diamond is placed. More often than not, if the setting is of high quality, you have a real diamond set in it. This application is universal for earrings, necklaces, rings, and other pieces of diamond jewelry.
4. Bring Documentation, If You Have It
If documentation came with the diamond, it is best to gather all this information before heading over to a diamond buyer. The documentation is essential and, in some cases, increase the value of the diamond’s appraisal. Additionally, if your diamond still has the box it came with, in addition to the paperwork, this only authenticates the piece further. If possible, also bring the diamond’s certificate. During the selling process, the more documentation you have, the better.
5. Keep Your Expectations Reasonable
Lastly, it is crucial to have reasonable expectations when selling your diamond. In the resale market for diamonds, they sell at a much lower price than their original value. When meeting your diamond buyer, you can’t expect them to pay equal or higher value than what was initially paid for the stone.
Take a look online and see what the value of similar diamonds are on the resale market. Then, it is essential to understand that buyers will offer less to make a profit. Communicate with your buyer what a fair price would be for both sides.
6. Prepare the Best You Can Before Selling Your Diamonds!
When you are ready to sell your diamonds, contact Fastcash Pawn & Checkcashers, and set up a time to meet with one of our GIA-certified diamond specialists for a free evaluation.