Selling Your Diamonds for the Best Possible Price
Last updated: October 09, 2018
Many Americans are setting aside the "diamond is forever" sentiment to sell their diamond jewelry. For some, the change of heart stems from the need for funds to go towards education, home renovations, or even a vacation. Others inherit antique pieces of jewelry that they just don't want to wear and see no point in keeping around. In some cases, diamond jewelry can represent something from one's past that they would rather put behind them. While selling your diamonds may seem lucrative, it's not as simple a transaction as selling gold. While gold has a quantifiable melt value, the resale prices for diamonds do not have just one objective measure, making the whole process overwhelming for those who are not professional gemologists or appraisers. Whether you are selling a diamond necklace or a ring, see our list of tips that will help you sell diamonds on Worthy and get the best possible prices.
Know Your Diamond Before You Sell
Your grandma may have told you that her antique engagement ring was worth a fortune, and it may have been at the time. However, markets tend to fluctuate and the demand for certain diamonds fluctuates similarly. So, before you rush out there and expect to make a killing on that rock, you should get an accurate assessment of its quality and value. At Worthy, this is the first thing we do when you send us a request to sell your diamonds. All you have to do is submit a brief description of your diamond and our smart Diamond Value Calculator will compute its market resale value. This way, we can start off on the right foot and give you a market value estimate before you send it to us for full physical evaluation.
100% Seller Protection
We only trust the best diamond grading lab in the world, GIA, to grade valuables prior to auction. Diamonds sold with GIA grading reports are considered more valuable and can command higher prices.
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Consider Local Diamond Selling Options
While you may be tempted to go to your local jeweler, you should take into consideration that they, as trustworthy as they are, have a business to run. The likelihood of your local jeweler giving you a high offer is entirely dependent on the conditions of the market and the popularity of your ring style at any given time. The buying power of a single buyer, especially one who is in the business of selling jewelry, is quite limited. It is likely that you can lose money when you sell to a local jeweler, or, even more so, a local pawnshop. When you work with Worthy, you are able to obtain offers from many buyers, who will ultimately compete for your diamond. So, when you are searching for diamond buyers or jewelers near you, know that Worthy brings the market to you, no matter where you are.
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Set Realistic Price Goals
Expecting the retail value for your pre-owned diamonds is the fastest way to be disappointed with any final sale. There is a significant difference between retail and resale value that needs to be considered when setting price expectations in a diamond sale. When your diamond arrives at Worthy headquarters, it is cleaned, photographed and sent to GIA labs for a complimentary grading. The grading and photographs are presented at auction to our network of professional diamond buyers. From this auction process, the true market value is determined, directly reflecting the level of demand.
Consider How fast You Want the Cash
Selling your diamond jewelry on your own can be very time consuming and complicated because you may spend a lot of time filtering through less reliable offers. Platforms like eBay can bring good results, but only if you have previous experience with selling diamonds and a high seller rating. One of the main advantages of selling your diamond through a network like Worthy is the time you save. If you want to sell diamonds quickly and safely with little hassle, then our auction platform is the perfect option for you. In a very short time, you'll gain access to some of the highest potential proposals for your diamond. What's more, Worthy manages the entire selling process for you. All you have to do is wait for one of our representatives to come back to you with an initial market value estimate with no obligation whatsoever. Next, your diamond will be collected by a FedEx courier free of charge and fully insured and sent to our secure facilities for full evaluation and preparation for auction. Once the highest bid is submitted for your approval, you get paid.
Choose a Trustworthy Buyer
When you sell diamonds, it is crucial that you feel 100% confident with the method you choose. Making sure that your provider has a good Better Business Bureau (BBB) rating is a good place to start. Worthy has an excellent BBB rating and holds a Second hand Dealer's License issued by the New York City Department of Consumer Affairs. More importantly, we only trust the best in the business to carry out diamond gradings. The Gemological Institute of America By choosing the Worthy network, you can rest assured that you are selling your diamonds according to US government standards.
Worthy is also 100% objective and transparent throughout the entire selling process. Since we are not the ultimate buyer of your diamonds, all estimates and evaluations are solely for the purpose of providing accurate information to both you and the buyers bidding on it. It is the network of professional diamond buyers that will determine the value of your diamond.
Luxury Item Protection
Worthy provides up to $100,000 in insurance coverage for every shipment. We trust Lloyd's of London, a global leader in insurance since 1688, to protect all valuables auctioned on our platform.
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Make Sure You Are Emotionally Ready to Sell Your Diamonds
It is true that to most of us, diamonds represent love and passion, which make them harder to let go of than any other type of jewelry. Due to sentimental value, you may perceive the price of your diamond as higher, but buyers and the market as a whole do not reflect the same sentiment. In a transaction such as this, diamonds are a material thing. So if you feel ready to let go of a symbol that represents something or someone from your past, then you are emotionally ready to sell your diamond.
Factors That Determine Value When You Sell Diamonds
Diamonds are evaluated based on clarity, cut, color and carat weight, or the "Four Cs".
- Carat- Diamond jewelry owners typically know the carat weight of their stone because it refers to its size. The bigger the diamond, the greater the carat weight and value.
- Color- Most diamonds are not totally colorless, like the majority of people believe. They usually have hints of yellow or brown. Diamonds that are graded to be completely colorless have higher value. Of course, this doesn’t apply to colored diamonds. They have an evaluation scale of their own.
- Clarity- evaluators are looking for a lack of flaws and blemishes on the gem. The fewer the blemishes the diamond has, the higher its value.
- Cut- This refers to the diamond is the shape that has been given by the diamond cutter. Because modern diamonds have near-immaculate cuts, their value is higher than antique diamonds since their cuts are not as accurate.
Luxury Item Protection
Based in Richmond, Virginia, Brinks is a global leader in security-related services for banks, retailers and even governmental customers. We trust Brinks, to assist us in the secure transport of high value items and the maintenance of our vaulting systems.
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Sell My Diamonds Today
Worthy is internationally known and respected as a leading expert in pre-owned diamonds Both diamond expert buyers and sellers regularly consult with us on how to sell diamonds for the highest market value. Read our customer reviews and learn just how easy getting top dollar for your diamonds can be. Submit your diamonds for a free estimate today and receive cash, fast.