How to Sell a Diamond Online: The 3-Step Process

How to Sell a Diamond Online: The 3-Step Process

There are many reasons that someone might decide to sell a diamond, and many reasons to do so online. Diamond selling is not something that the majority of people are familiar with so it is important to gain some knowledge on the subject before rushing out to sell a diamond. Without proper planning, diamond selling can be quite a headache. The following three steps could save much time and trouble.

 

Appraise

 

The first step on the path to selling a diamond online is getting the diamond appraised. It is important to know the value of the diamond before making any attempt to sell. The most common problems people have when selling diamonds are expecting too much or settling for too little.

There are different ways to get a diamond appraised. If the diamond is expected to be of high value, over $2,000, it is preferable to have the diamond appraised by a qualified appraiser who does not actually deal in the buying and selling of diamonds. This will help insure that the appraiser is giving the most accurate idea of the diamond’s value. Try to find an appraiser that is certified by the American Gem Society.

If the diamond is not expected to be of great value and paying to have it appraised is not preferable, professional diamond buyers and pawnbrokers will often appraise without charge. When having a diamond appraised it is important to ask for the current resale value. This will give a more accurate idea of what to expect from buyers. Make sure to acquire a copy of the Rapaport Diamond Report also. The report is updated weekly and will contain the current wholesale value.

 

Compare

 

The third step is to compare all of the sites that seem like viable options. If diamond dealers seem like the way to go, check with several to see what price they are willing to give for the diamond. Make sure to check for any fees that might be withheld from the total price.

If an online auction seems more promising, check to see what other diamonds of comparable size and value have sold for recently. The most important thing is to check multiple sites and find one that is reputable and offers what seems to be a fair price.

 

Research

The next step is to research selling options. The two major options when selling online are selling to a diamond dealer or the general public. Selling to a diamond dealer or jeweler is definitely the quickest option. When selling to a diamond dealer it is important to check the Better Business Bureau rating. Though this is the fastest option, diamond dealers are not likely to pay as much as the general public.

For the best prices it is preferable to look at sites like eBay.com and idonowidont.com. Both of these sites are online auction houses. EBay.com is better known and deals in all types of sales while idonowidont.com specializes in buying and selling diamonds.

After a sale is made, the diamond and the payment are sent to the auction house where the diamond is appraised to make sure that the buyer is getting what he or she is paying for. While the online auction option will likely lead to more money it is much slower.

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