Without a doubt, diamond investments are among the priciest. So, it is also logical to expect that when you decide to sell these gems, the return on investments will be just as good. But you will find that selling diamonds may not be as easy or as lucrative as it seems considering the complexities of transacting with such precious stones.
The resale prices for diamonds have a number of objective measures, which have to be taken into consideration when you decide to sell your loose diamonds or your diamond jewellery. Below are some ways you can maximise profits from the sale of your precious investments:
1. Get to know your diamond before you sell.
The first thing you need to do is to have the diamonds assessed. While it is sweet that your family considers the heirloom diamond ring as having considerable monetary worth, it is important to be certain about these figures. Seek the services of a credible jewellery appraiser.
Getting an accurate assessment of the value and quality of your diamond pieces will not only manage your expectations but also provide legitimacy to your selling price. Have your appraiser provide you with a written appraisal report and a sealed statement of value that you can present to potential buyers.
Aside from the appraisal for your diamond’s resale value, you can ask for information about the factors that affect the stone’s overall value, specifically its clarity, cut, colour, and carat weight. Remember that small differences in the grading of your diamonds already spell a significant difference in how much you will actually receive for the resale of your diamonds.
By educating yourself about these important details, you are empowering yourself not just as a seller but also as a future buyer, should you choose to.
2. Set realistic price expectations.
Consider the current price of diamonds Melbourne shops are offering versus the ones you own. Based on the assessed value and the market fluctuations, the market resale value of your diamonds will be determined. Don’t expect the resale value of your pre-owned diamonds to be equal to the price when you bought it because there is a significant difference between retail value and resale value.Don’t forget to bring existing valuations and diamond certificates as these will help determine a more accurate resale value for your diamond jewellery.
3. Familiarise yourself withthe different ways you can selldiamonds.
On your own, selling pre-owneddiamonds can be complicated and time-consuming. Among other tasks, you will need to allot time for filtering through all the offers you will receive to discard less reliable ones. Selling platformscan bring good resultsif you have a high seller rating and already have previous experience in the resale of diamonds.
Another way of selling your diamonds is looking at local diamond selling optionsas long as you have judged them to be a trustworthybusiness. However, the offers you will receive from your local jeweller will rely entirely on market conditions and the current demand for your jewellery style, so you might not be making much with this option.
You can also opt to utilise diamond selling networks and auction platforms, where you have access to a lot of professional diamond buyers and receive more competitive offers for your precious stones.
4. Make sure you choose a trustworthy buyer.
As a buyer, you need to be sure you are dealing with a trustworthy seller. The same principle applies when you are the seller. Out of the many offers you will receive for your diamonds, it is important that you transact only with reliable buyers to eliminate frauds and mitigate safety and security risks.
Now that you are more informed on how to sell your diamonds, you can choose what selling method will work best for you.