Diamonds might be forever, but that doesn’t mean you have to hold on to them for that long. If you want to sell them you need to know what your options are. That means understanding not just which ways are popular, but also why that is the case. What are the advantages and disadvantages of each?
Here we’re going to explore that. From there, you’ll be in a better position to choose the way that’s better for you. Sound good? In that case, enough preamble. Let’s get straight to it!
Online Diamond Buyers
Though it wasn’t always the case, in recent years buying diamonds online has become safe, efficient and good value for money. The main reason for this is the introduction of regulation. Now, most diamond buyers are accredited by the Best Business Bureau governmental organization. (Make sure you see the BBB on their website).
Even the sending and the receiving of diamonds has become a lot easier and safer, thanks to companies like FedEx. These companies insure your package, let you track it, and make sure it arrives at its destination. That way nobody can claim nothing arrived where it is supposed to be.
Of course, some diamond sellers are better than others, so make sure you check out our online diamond buyer reviews.
A lot of people still go here. Who can blame them? They are convenient and we spend too much time online as it is. If you do decide to visit one, make sure you find the right one, though. You see, many don’t offer great value. This is because most of them don’t specialize in diamonds, which means that:
1. They might not have diamond certified staff on hand.
2. They don’t want to invest a large chunk of cash in something they might not be able to sell.
Both of these reasons might mean they can’t make you a great offer for your stone. So, it is better to sell them smaller stones, or to get your diamond evaluated somewhere else before you go.
Online Cash for Gold sites
Cash for gold sites are a lot like online diamond buyers, except that they also buy precious metals. Since diamonds and gold often come together, that makes sense. Most have certified diamond staff on hand. Do make sure you check if that’s the case on their website, of course.
Why would you want to go to one of these instead of going to a purse diamond buyer? Mainly, because of economies of scale. Gold and diamond buyers often have more business than companies that only buy diamonds. That means they have less overhead per piece.
There are numerous Cash for Gold sites out there and you should do your research. If you ask us, we’d point you to Cash for Gold Mailer. They receive top marks whenever they are reviewed.
Ebay and Craigslist
These can be great choices for the savvy, for if you can find the right buyer you might get close to what you bought the diamond for. (Often that can be difficult with diamonds as there can be a large gap between the retail and the wholesale price).
The problem is that you also might not find any buyer. It’s more hit and miss that way. So only go this route if you’ve got time. Also, to raise your chance of selling on these platforms, you’ve got to make sure you’ve got your diamond properly certified.
Friends and family
If you’ve got rich friends and family, then that’s an option. Alternatively, if they don’t sleep in beds made of money, consider a trade instead of a sale. The most effective way to do that is to gather together a group of friends and have everybody bring jewelry they don’t want anymore.
Heck, turn it into a party! They can be a lot of fun. Just don’t drink too much or you might regret the trades the next day.
Also, make everybody bring their diamond certification if they’ve got them. There are a lot of false diamonds out there and if you trade something of real value for something that has none that can cost you friends.
Hopefully, this list has helped you find the way to trade your diamond. Note that this list is not exhaustive. If you don’t like any of the ways we’ve offered here, then there are other options. A search online will give you more information.
Just be careful. Naturally, the sites that want to buy will advocate their way as the best way. Don’t always believe them. Instead, find neutral sites (like our own) that can give you unbiased feedback. Then you’re far more likely to get a deal that’s good for you.