Diamonds hold a special value in our lives. They are used to symbolize love and commitment. When getting engaged, diamonds have a role in many cultures around the world. But other than that, they have many other purposes. Most notably, it is a tried and true investment opportunity. Like all investments, they have two factors, risk and benefit. Diamonds offer a very favorable ratio of the two. Here, we will cover one of the final steps of such an investment. How do we make the most out of our diamonds when selling them? Let’s come up with some answers.
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Having a graded certificate
Diamonds have multiple purposes. A smart investor will treat it as such. If we decide, for whatever reason, to sell one the other party will want some kind of proof that it is the real deal. This proof comes in a form of an authentication of the diamond’s qualities. The best way of acquiring such a certificate is through an authoritative gemological lab. These institutions will provide us with information about the precise carat weight, cut, clarity, and color of our gem. The ever important 4Cs These are the basic characteristics of any diamond. Since the grading process is performed by a third party, there is no bias and the execution is objective. Alternatively, we can get an evaluation from a local appraiser. Once our stone has been appraised, we can easily understand the value of it in our current market. For an even better understanding, we can always compare it against the ones listed online.
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Selling to a local jeweler
Jewelers are known to buy used stones from individuals directly. They do not rely solely on their distributors. Whenever approaching a jeweler, we do need to have the aforementioned certificate. This way it is easier for all to understand the diamond’s value. They are businessmen and are looking to get the most out of a transaction, just like us. Often enough they will offer to buy out stones at values below the dumped price which is about 40%. This is the lowest that we should ever go as a seller. It is a bargaining game; most jewelers will start at low prices and will move higher as negotiations continue. Like in al negotiations, the smartest course of action is to reject the initial offer. It will not be favorable. Negotiation skills on our side are always welcome to finally settle on a price beneficial to both parties. The trick is not to lose heart when a jeweler offers a price significantly lower than 40%. We need to stay confident and keep bargaining. How high should we go or expect to achieve? Something close to 60%-70% of the initial value of the piece.
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Making it on our own
With some time, effort, and experience we can do our own deals and source our own buyers. There are a few ways to sell anything and the same goes for gemstones. The first thing that comes to mind is to use some of the most popular forums like Craigslist or eBay. We can also contact friend, family, and acquaintances, maybe they are in the market for such a thing. A couple of things to note. Our chances of finding a potential buyer and actually selling are much lower and it is riskier. But the money involved is much greater. On a final note, pink diamonds are the most valued stones around for multiple reasons. These are best off professionally appraised and handled as the associated costs will be covered by their sheer value. It is highly advisable to look into professional pink diamond brokerage, to get the most out of them.
Diamonds carry many values, sentimental, emotional, but also financial. They can be worn, shown off, and displayed, but also, bought, sold, and generally utilized as any other investment. Either way, it beneficial to not let emotions get the better of us when conducting any transaction. Lately, the market has been very volatile, but diamonds have historically been holding their value. In the end, it is up to us to either treat it as a value holder or a sentimental attachment.
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