Category Archives: Cash for Diamonds

Diamond Rings – Which is Better: A Larger Diamond Size or a Clearer Diamond?

Posted on Oct 28,2014

There are four basic parameters that diamond buyers must take into consideration when choosing a diamond, these are: cut, clarity, color, and carat weight. While all these factors affect a diamond’s appearance, most people don’t mind sacrificing one or two qualities in exchange for a bigger diamond.

For instance, some buyers might not mind a diamond that shows a visible tinge of color as long as it is bigger in size. However, when it comes to clarity vs. carat weight, the decision might be harder to make. This is because visible inclusions can tarnish a diamond’s overall appeal especially if it is a big stone.

When cutting diamonds, diamond cutters try their best to conceal any inclusions and blemishes. Inclusions are tiny defects or imperfections found inside the diamond. Some diamonds might also have some imperfections on the surface; these are called blemishes. Both inclusions and blemishes affect a diamond’s brilliance (i.e. how much light they reflect).

When it comes to diamond clarity, the size, number, and position of inclusions are all taken into consideration and affect a diamond’s value. This is why diamond cutters make it a point to hide them in strategic areas like the girdle or under the facets in the bezel where they won’t do much to affect a diamond’s visible appearance.

How Much Clarity Can You Sacrifice for Carat Weight?

If there were no budget constraints, anyone would be happy to receive a flawless diamond that is bigger than 1 or 2 carats in size but since diamonds in the flawless range can be incredibly expensive, sacrifices must be made to suit one’s budget.

Ideally, you shouldn’t settle for a diamond lower than VS2 (very slightly included). Diamonds in the VS1 to VS2 range normally have several inclusions that are visible under 10x magnification. Since you won’t be staring at your diamond under a magnifying glass all the time anyway, you’ll hardly notice the existence of these inclusions at all. It usually requires a skilled observer to view these inclusions even with magnification. Most diamonds sold in the market are of the VS1 to VS2 range.

However, if you are very particular about clarity, you might want to go a little higher by getting a diamond from the VVS1 to VVS2  (very, very slightly included) range. Diamonds in this range often appear flawless to the naked eye and even under 10x magnification, only a skilled observer should be able to notice the inclusions.

If you prefer a bigger carat size and you don’t mind sacrificing a bit of clarity to get the size you want, diamonds in the SI1 range should be ideal. Diamonds in this range have inclusions that may be visible upon close inspection even without magnification but the defects aren’t severe enough to affect the diamond’s overall appearance.

If size is your priority and your goal is a diamond that is bigger than 1 carat, a clarity value of SI1 should be your limit. This is because diamonds in the SI2 range tend to have visible inclusions for stones that are 1 carat and above. SI2 clarity is only ideal for stones that are less than 1 carat in size.

You should keep in mind that inclusions become mush more visible the bigger the diamond is. This is why it’s challenging to get a good balance between clarity and carat weight.

Most diamonds in the market are priced on a per-carat basis. The price of diamonds that are of the same cut, clarity, and color tend to double as you go up a carat. If for instance, the price of a diamond is $2,000 per carat, then you should expect to have to pay $4,000 for a 2-carat diamond of the same quality.

It’s okay to sacrifice clarity for carat weight just as long as you still find a good balance between the two. Diamonds, after all, are meant to be admired and it would be a shame if you cannot fully appreciate its beauty because you sacrificed too much clarity for size.

On the other hand, clarity is still a subjective matter. So if you do not mind a lower clarity range, then by all means go for that bigger stone. It’s your diamond to enjoy after all.

Posted in  Buying a Diamond, Cash for Diamonds, Diamond Colors, Diamond Cuts, Valuing Diamonds |   Tagged 

 

Diamond Wedding Bands – Guide to Buying and Selling Diamond Bands

Posted on Jul 29,2014

There is perhaps no other piece of jewelry that will hold as much importance to you as your wedding ring. It is something that both you and your spouse will likely wear for the rest of your lives. As such, it should not only carry a design that you love but it should also be able to withstand daily use. Choosing wedding bands for your special day should be a mutual decision between you and your spouse. While you can choose different styles for your wedding bands, it is still recommended that you choose them together to make the bands even more special.

Guide to Buying Diamond Bands

Diamond wedding bands are a very popular option, especially among women. But many men are also choosing to have their wedding bands embedded with diamonds. A diamond wedding band can provide a sparkly backdrop for your engagement ring. A pave wedding band, for instance, can add more emphasis to the center stone on your engagement ring. If you have your heart set on a diamond wedding band for your special day, these useful guidelines will certainly help you when you start shopping around for the perfect diamond wedding band:

Choosing the Metal

Modern wedding bands come in a wide array of metals. While the most common options are gold and platinum, many other options are available in the market that suits different styles and budgets.

For instance, titanium is slowly gaining popularity among many couples. While an unlikely option for wedding bands, titanium is a durable and aesthetically pleasing material for rings. It is resistant to scratches and can withstand wear and tear from daily use.

Of course, traditional options like white gold, yellow gold, and platinum will never go out of style. For gold wedding bands, 18 carats and below is recommended because anything above 18 carats tend to be too soft for daily use and is prone to scratches (e.g. 22 carat gold).

Platinum remains to be a prime option for many couples. While much more expensive than gold, platinum is prized for its durability.

Other options for metals used in wedding bands include palladium (notable for its similarities with platinum and its cheaper price), zirconium, tungsten carbide, and of course, rose gold.

Choosing the Style and Setting

When choosing a diamond wedding band for women, make sure to consider the style of your engagement ring. Some couples choose to buy the engagement ring and wedding band as a set to ensure similarity in style, setting, and material but this isn’t necessary especially if the engagement ring is intended to be a surprise.

Since the engagement ring and wedding band are traditionally worn on the same finger, you might want to consider a curved diamond wedding band. Curved diamond wedding bands give extra space for the central diamond on the engagement ring. This is a good option not only in terms of aesthetics but especially comfort.

The setting is one of the most important aspects to consider when choosing diamond wedding bands. Since you are going to wear your wedding band everyday, you have to make sure that the setting offers security for the diamonds and comfort for the wearer. Popular options include pave, bezel, channel, and prong.

Choosing a prong setting for a diamond wedding band ensures safety for the diamonds but may pose some inconveniences for daily use (e.g. the stones are more likely to get caught on clothes and other materials). The pave setting is perhaps the most superior when it comes to aesthetics, as the diamonds appear as if they are floating on the surface. The bezel and channel setting, on the other hand, offer both comfort and added security for the stones.

Setting is purely subjective so you should go for the setting that best suits your personal style.

Choosing the Stones

Since diamond wedding bands carry very small stones, you can get lower grade stones without having to sacrifice how it looks. Most stones used for wedding bands are round brilliant cuts and princess cuts because they offer the best fire and brilliance but there are also some diamond wedding bands that feature unique diamond shapes like emerald, pear, asscher cut, and heart. However, since these shapes are not commonly found, you may choose to have your diamond wedding band custom made to include your preferred diamond shape.

Guide to Selling Diamond Wedding Bands

Many people choose to eventually sell their diamond wedding bands for various reasons. If, for whatever reason, you are in the process of selling your diamond wedding band, the following tips will help you ensure that you get the best price for your ring:

Have it Appraised

There are several factors that can affect the selling value of your wedding band. This includes the style, number and quality of stones, and the type of metal. If you are unsure about the current value of your wedding band, it is best if you have it appraised beforehand. Knowing the appraisal value of your wedding band will not only ensure that you get a fair price when you sell but will also help you set realistic expectations for the price. You can have it appraised by a local jeweler or a pawnshop for easier access.

Have it Cleaned Before Selling

Before selling any piece of jewelry, it is best if you have it professionally cleaned beforehand. Go to your trusted jeweler and have it cleaned. If you have a white gold wedding band, you might want to have the surface of the metal plated with rhodium to get rid of scratches and other imperfections. Most white gold bands are coated with other metals like rhodium to enhance their durability and appearance.  The diamonds will also be cleaned to give them optimum sparkle and brilliance.

Consider Selling Online

When selling diamond wedding bands, it might not be such a good idea to sell to an individual especially since many consumers would not want to buy a used wedding band. This is why most people who sell their wedding bands opt to sell to jewelers that buy used diamond jewelry or pawnshops. If you want a relatively hassle-free selling experience, you might want to consider selling your ring online. Online diamond buyers are perfect because they offer some of the highest prices for second-hand jewelry and they can also offer you the privacy you need since you won’t have to meet with them in person and the entire selling process is accomplished online.

Posted in  Buying a Diamond, Cash for Diamonds, Diamond Buyers, Sell Diamond Rings, Sell Engagement Ring |   Tagged 

 

Who Buys Diamonds? Finding the Best Diamond Buyer

Posted on May 27,2014

If you have some diamond jewelry that you don’t use anymore and that you would like to get rid of, selling them can be very profitable if you find the right buyer. However, despite the abundance of pawnshops and jewelers that buy diamonds, getting the best price for your diamond isn’t always easy especially for smaller and lower grade stones. If you have a good stone, then you’ll have more reason to want to get the most money for it when you sell.

For first time sellers of diamonds, finding the best diamond buyer can be a daunting task especially if you don’t know where to look.

cushion cut solitaireSo who buys diamonds?

Before the Internet, when people want to sell old jewelry, the choices were limited to individual buyers, local pawnshops, and jewelers. While these used to be good options, they do present several challenges that limit your chances of getting a fair price for your diamonds. Finding individual buyers can be difficult and unless you knew someone in particular who is interested in the diamond that you are selling, you’ll likely have to deal with manually advertising your diamond. Pawnshops, while readily available, don’t always offer fair prices for diamond jewelry.

The advent of the Internet has given individual sellers access to a bigger market; the market includes online diamond buyers who are primarily involved in the business of buying and selling diamonds.

Online diamond buyers usually have access to diamond capitals and since they operate primarily online (except for their main headquarters), not only can they offer more expertise in the area of diamond valuations but they are also able to offer better prices because they don’t have to maintain many small physical locations in several areas unlike pawnshops and jewelers.

Finding the Best Diamond Buyer

Finding the best online diamond buyer is just a matter of doing your research properly. Most reputable online diamond buyers offer fair prices for diamonds (large and small alike) but if you really want to get the best price for your diamonds, you can look at several online diamond buyers and have them appraise your diamond so you can get an idea of how much each one is willing to offer for your piece.

If you’re in a bit of a rush, you can use their instant valuation or appraisal service and then send in your diamond if you think you like their price offer. However, the accuracy of their price quote is highly dependent on how accurate you describe your diamond to them, which is why it is better to do this if you have a good idea of your diamond’s value.

A good method in finding the best diamond buyer if you’re in a rush is to get an appraisal from a pawnshop beforehand just to get an idea of your diamond’s value and then get an instant appraisal from several online diamond buyers so you know if the price offer is fair or not. It is worth noting, however, that not all online diamond buyers have an instant appraisal or instant quote service as some would prefer to see the diamond first before offering a price for it.

Most diamond buyers will offer to return your diamond to you free of charge if you’re not satisfied with their price offer so you won’t have to worry about getting your item back.

If you’re in no particular rush to sell, it is recommended that you send in your diamond to the online diamond buyer or several buyers so that you can get an accurate, final price offer for your diamond and so that you can narrow down your options and choose the best one with the highest price offer.

For more information on online diamond buyers, you can view our online reviews here. If you end up selling online, make sure you come back and leave a review!

Posted in  Cash for Diamonds, Diamond Buyers, Online Diamond Selling Tips, Sell Diamond Rings |   Tagged 

 

What is a Princess Cut Diamond?

Posted on May 15,2014

The princess cut or square modified brilliant is the second most popular diamond shape used on engagement rings next to the traditional round brilliant cut. Princess cut diamonds are traditionally square with sharp corners but some appear to be more rectangular than square. When viewed from the side, its shape looks like an inverted pyramid. Unlike the round brilliant cut which has been around for more than 100 years, the princess cut is a relatively new shape, only having been invented in the 1960s.

Facets

Princess cut diamonds and round brilliant diamonds generally have the same degree of brilliance, although they have different faceting styles. A round brilliant diamond has 58 facets whereas a princess cut diamond has 76 facets, which highly contributes to its fire and brilliance.

Shape

As previously mentioned, most princess cut diamonds are square from the surface but others are more rectangular. This will depend on the buyer’s preference. To determine how square or rectangular a princess cut diamond is, you should look at the length to width ratio of the diamond (i.e. length/width= length to width ratio). Square princess cut diamonds are within the 1 to 1.05 ratio so if you want a square diamond, you should check if the length to width ratio falls within this range. Those with length to width rations higher than 1.10 are more rectangular.

Square princess cuts are more expensive than rectangular ones but some people may prefer a more rectangular princess cut depending on the setting. When set with side stones, rectangular princess cut diamonds can look squarer than it actually is.

Princess Cut DiamondsColor

When it comes to color, valuing a princess cut diamond is the same as any other colorless diamond; with the D to F range being excellent and more expensive and warmer colors from G to Z being cheaper. It is worth noting, however, that color may be more visible on the edges of a princess cut diamond than it is on a round brilliant diamond so a J-color diamond may appear more yellow on the sides compared to a J-color round brilliant diamond. While some people prefer warmer colors for princess cut diamonds (i.e. around the G to H range). The smaller the diamond, the less visible the color is, which is why G-color princess cut diamonds that are less than .50 carats are still rated excellent.

Clarity

Princess cut diamonds can conceal inclusions better than round brilliant diamonds because of their brilliance. Some customers don’t mind not having such an excellent clarity grading as long as the inclusions are not very visible, although others are more particular about the clarity of their diamonds in a technical sense.

Setting

It is highly recommended that princess cut diamonds be set with prongs on each corner because the corners are susceptible to chipping and should be protected. The corners of princess cut diamonds may also have extra inclusions and facets, which would not look very good if not concealed.

Princess cut diamonds are highly preferred by consumers because its fire and brilliance is almost at par with that of round brilliant diamonds. Its unique shape and bigger appearance also adds to its appeal. Of all the diamond cuts, the princess cut wastes the least of the original rough stone that it is cut from. As a result, it is cheaper in price compared to round brilliant diamonds and other cuts.

Princess Cut Diamond Setting

Posted in  Cash for Diamonds, Types of Diamonds |   Tagged 

 

How to Sell a Diamond Ring to a Pawnshop

Posted on May 13,2014

Pawnshops are a great venue to earn some extra money. Whether you have an emergency to take care or you want to use the money for leisure, selling old items to a pawnshop is a viable way to earn some extra cash. Pawnshops generally buy all sorts of items from antique furniture to gadgets but most pawnshops deal in jewelry so if you have an old piece of jewelry that you don’t use anymore or you want to sell something valuable like a diamond ring to take care of other expenses, a pawnshop can offer you cash in exchange. However, when selling expensive items like diamond rings and other valuable jewelry pieces, you can’t always expect to get top dollar from a pawnshop if you don’t know how to go about the process. It’s helpful if you know how pawnshops operate so you can earn a decent amount from the transaction.

If you’re set on selling your old diamond ring to a local pawnshop, you might want to consider following these tips on how to sell your diamond ring:

 Know the Value of Your Diamond

While it’s difficult to tell exactly how much a diamond is worth, knowing the retail value can help you set price standards when selling to establishments like pawnshops. It helps if you know your diamond’s value in terms of cut, carat, clarity, and color as well as its original retail value. You can have it valued by a professional diamond appraiser but since their expertise can cost a lot of money, you can ask a quote directly from a pawnshop while keeping your diamond’s value in mind to get an idea of how much they are willing to pay for the item.

Do Your Own Research

Knowing the current market value of gold and diamonds will make it easier for you to set price standards when selling to pawnshops. Pawnshops do pay higher amounts when the price of gold and diamonds are high so it’s best to research on your own so you can make an informed decision.

Have it Appraised by Several Pawnshops

Visit several pawnshops and have each one appraise the value of your diamond ring so that you can compare offers. It’s always best to have several options as your chances of getting a good price in exchange for your item is always higher if you compare several establishments.

Negotiate

Remember pawnshop prices aren’t fixed so you can always negotiate especially if your diamond is of high value. But even if it’s of a smaller size and lower grade, you can always negotiate to raise the price even by a little bit or by a significant amount depending on your negotiating skills.

Make it clear that you want to sell

Pawnshops can pay as much as 20% more if your intention is to sell and not just get a loan. A lot of people use pawnshops to get loans and use valuable items like jewelry as collateral but if your intended purpose is to really sell your diamond ring, then don’t opt for the loan option. Pawnshops pay higher for individuals who want to sell because they can immediately resell the item as opposed to loans where they have to hold on to the item for as long as 60 days (if they don’t receive any payments).

Be aware of their pricing

For valuable pieces like diamond rings, pawnshops usually offer based on the current rappaport value of diamonds. If you have an item of high value such as stones bigger than a carat or a diamond ring from a high-end jeweler, you can expect to get as much as 70% to 85% of the item’s retail value if you sell to a pawnshop. However, they usually offer lower prices for smaller stones. Educating yourself about pawnshop pricing will not only make it easier to determine if the price is fair or not but it will also help set expectations about how much you can earn if you sell your diamond ring to a pawnshop.

Want a place that pays more than a Pawnshop?

Get a price quote from one of the online diamond buyers on our website.  Most offer matching on any local offers, plus they have the ability to pay more since they have considerably less overhead than pawnshops.  Give a couple of our listed companies a call and see what they can do for you!

Posted in  Cash for Diamonds, Sell Diamond Rings |   Tagged 

 

Where Can I Sell My Diamond Ring for Cash

Posted on Apr 30,2014

It’s fairly common for people to sell diamond rings when they don’t use it anymore or when they are in need of some extra cash. Many people are doing it, especially those who have just been recently divorced and are ready to move on. If you’re thinking of selling a diamond ring, you’re probably wondering which venues are available to you. There are several buyers that you can explore but not all of them will pay top dollar, especially if your diamond ring is not of the rare variety. Below are a few options that you can explore if you’re looking for a buyer for your diamond ring:

Pawnshop

Pawnshops are the most common option especially for those who are in immediate need of cash. While pawnshops are certainly the most accessible option, as they are everywhere, they’re not always the best option profit-wise so unless you’re looking to take out a quick loan and you’re just using your ring as collateral, it might be better to look for other venues.

Local Jeweler

You might have noticed that a lot of local jewelers are also buying old diamond jewelry aside from precious metals. This is because the demand for diamonds has significantly increased in recent years especially for the middle class market so some local jewelers started buying from the public, as the wholesale supply can’t always keep up with the demand especially with the rising demand in other countries as well. So there are two ways to go about selling your diamond ring to a local jeweler: either you sell it directly to them if the option is available or you can sell it on consignment. If you sell it on consignment, you’ll just be charged a consignment fee once the ring is sold and in the event that it is isn’t sold, you can just get it back. Consignment may be the better option if you’re in no particular hurry, as you can at least set your own price for your diamond ring.

Online Diamond Buyer

Online diamond buyers are highly preferred by a lot of individual sellers because the process is quick and convenient and they usually pay more than pawnshops and jewelers because they don’t have to spend too much on overhead costs of maintaining several brick and mortar establishments. When choosing an online diamond buyer, it’s best to stick to reputable companies that are accredited and rated by the Better Business Bureau to ensure your safety and give you peace of mind especially since you’ll have to send in your diamond for valuation. It’s best to also do your own research and look up reviews of several online diamond buying sites. While you can’t expect to get 100% of the appraised value of your diamond, you’ll definitely get a better price from a reputable online diamond buyer than anywhere else.

When selling a diamond ring, be sure to set realistic expectations. You can’t expect to get the full price you paid for it because you have to take into account that jewelers usually add a lot of value to a diamond when they sell it to the public.

Posted in  Cash for Diamonds, Sell Diamond Rings |   Tagged 

 

Best Place to Sell an Engagement Ring

Posted on Apr 16,2014

Whether you are in the middle of a divorce or a broken engagement, letting go of your engagement ring can be the first step towards moving forward. Selling old and unwanted jewelry can also be very lucrative if you find the right buyer. There are many venues where you can sell your old engagement ring but the following venues are the most popular and most convenient options:

Pawnshops

When it comes to accessibility and instant payments, pawnshops can be a good option. However, you might have to sacrifice profit for convenience if you sell your engagement ring in a pawnshop, as they don’t usually offer very high prices for diamond jewelry. Since they buy different kinds of jewelry with varying precious stones and metals, they might not have the specialization to value your diamond engagement ring properly. They usually only offer less than half of a diamond’s rappaport value so if you want to make the most money out of the sale, you’re better off looking elsewhere.

Online Diamond Buyers

The advent of online diamond buyers and other online platforms has made the process of selling an engagement ring and other diamond jewelry a whole lot easier for many people. One obvious advantage to selling online is that you won’t have to be physically present for the transaction to take place, you just have to send your engagement ring via a prepaid package or look for another shipping method, depending on the arrangement you have with your chosen buyer.

It can be difficult for many people to let go of an engagement ring, especially since there is some level of emotional attachment to it. Selling online will not only allow you to do it from the comfort of your own home so you won’t have to face the buyer if you’re not ready for it but they also make it a lot easier by offering prepaid shipping packages, professional valuations, and of course, quick payment processing.

So if you’re looking for the best place to sell your engagement ring in terms of convenience and pricing, selling online is one of the best available options. It will not only save you time and effort but you can also potentially earn a lot more than if you sell to a pawnshop.

If you want to consider several buyers at once, it’s easier to go about the process if you sell to online diamond buyers as most of them offer instant quotes if you know the specifications of your diamond and most of them also offer free shipping if you want to send in your diamond to get an accurate price offer.

Of course, for you to be able to get the best price for your engagement ring, it’s still better if you have a GIA report or any appraisal report so that you know if you are getting a fair deal or not.

Posted in  Cash for Diamonds, Sell Engagement Ring |   Tagged 

 

How to Sell an Engagement Ring Online

Posted on Apr 07,2014

Selling an engagement ring online is one of the most convenient and perhaps profitable methods available to individual sellers. A reputable online diamond buyer will not only be able to offer expert valuation but as well as a better price compared to pawnshops and jewelry stores. Selling something as valuable as an engagement ring can seem intimidating especially for those who don’t have much experience with selling jewelry. Fortunately, selling to an online diamond buyer is very easy. Below are some useful tips for selling engagement rings online:

Find Out Your Diamond’s Value First

Before anything else, it’s important to get a clear idea of how much your engagement ring is worth. While it’s tricky to tell exactly how much a diamond is worth, as you’ll have to take into account the 4cs as well as its Rapaport value, knowing the exact specifications of your diamond and its corresponding monetary value will help you find a good deal online. If your engagement ring did not come with a GIA report, an IGI certificate, or an appraisal report from a jeweler, you can have it appraised professionally or if you don’t want to have to pay for professional appraisal, you can go to a pawnshop to get a quick appraisal. While online diamond buyers offer instant appraisals, you’ll have to be able to give them the exact specifications of your diamond before they can offer an initial purchase offer.

Look for Several Online Diamond Buyers

While having too many options can make the selling process difficult, it’s always better to have at least two or three choices for diamond buyers. Look for reputable online diamond buyers and ask for instant appraisals or quotes from all of them to get an idea of how much each one is willing to pay for your engagement ring. It is worth noting, however, that not all online diamond buyers offer quotes based on the information you provide them alone, some might require you to send in your diamond before they can offer a purchase price. This is understandable as it can be difficult to value a diamond based on description alone. If you’re in no particular rush to sell your engagement ring, it’s best that you look around first so that you can get the best price.

Request a Pack and Send Your Engagement Ring

Most online diamond buyers offer free shipping to sellers. When you request a “pack”, they will either send you a package envelope or pouch for your items or they will send you a printable label that you can use for shipping. Make sure that the shipping service they use offers insurance so that you won’t have to worry about the safety of your items once in transit. Majority of online diamond buyers offer free shipping but there are some that don’t so it’s important to take into account shipping and insurance costs when choosing an online diamond buyer to consider.

Accept or Reject the Final Price Offer

Once the online diamond buyer receives your engagement ring, they will have it appraised by their own valuation experts. Purchase offers are based on their own valuation of the diamond, as well as current market prices for diamonds. They will also take into account the setting of the engagement ring so they can give a complete purchase offer. You can then accept or reject their final price offer. Most online diamond buyers offer to ship the items back to the seller for free if the seller refuses the final offer but there are some that require sellers to pay for their own shipping so make sure to check before sending your diamond. You should also check for return guarantees in case you accept the purchase offer but end up changing your mind about the transaction. Return guarantees can vary from buyer to buyer but it typically ranges from 10 to 30 days.

While there are other options for selling engagement rings online, selling to a reputable online diamond buyer is one of the safest and most profitable. Since they are in the business of buying diamonds, they are able to offer fair prices to individual sellers compared to pawnshops and other online platforms.

Posted in  Cash for Diamonds, Online Diamond Selling Tips, Sell Engagement Ring |   Tagged 

 

What is the Best Way to Sell a Diamond Ring?

Posted on Mar 24,2014

Selling your old diamond ring is a good way to make some extra cash. Whether you’re looking to make some money to take care of an immediate expense or you’re ready to move forward and sell your diamond ring, you can make good profit from the sale provided you know the best way to sell.

When finding the best way to sell your old diamond ring or any piece of jewelry, you should take into account these important factors: convenience or how easy the selling process is, price offers, payment guarantee, and returns just in case you change your mind.

Pawnshops

While it’s certainly easy to find a pawnshop nearby where you can sell your diamond ring, you can’t always guarantee that you’ll get a good price for your ring. Pawnshops generally pay a lot less for smaller stones that are 0.5 carats and below. As for bigger stones, they normally pay only about half the price of the stone’s retail value. If your diamond ring is from a famous jeweler or brand, you might be able to get more for it from a pawnshop but only as much as 70% of the retail value and this depends on the pawnshop you go to so if you want to get a decent price for your diamond ring, you’ll likely have to go to several places to ask for quotes.

So while pawnshops might provide a quick and convenient venue for selling your old diamond ring, they don’t always provide the best prices.

Online Diamond Buyers

If you’re looking for the best way to sell a diamond ring, selling to reputable online diamond buyers is certainly your best option.

Online diamond buyers can offer better prices because they actually put the stone under expert valuation to determine its value and since they don’t have a physical location to maintain, they are able to pass on the savings to sellers and offer higher prices. It’s also far easier to get a quote from online diamond buyers, as most of them offer instant quotes and quick appraisals. This is especially convenient for sellers who already know the exact specifications of their diamond ring. If you are able to provide more or less accurate details of your stone’s value, you can get a more accurate quote even before sending them your ring.

You can also send your ring to them for valuation so they can give you a final price offer right away. Most online diamond buyers offer free shipping with insurance. And the best part is, if you end up sending your ring to them but you’re not satisfied with their price offers, most online diamond buyers can also send your jewelry back to you for free with no questions asked.

If you take into account the convenience of the selling process, price offers, payment guarantees, and returns, online diamond buyers certainly offer the best service. They don’t only offer better prices but they allow sellers to sell jewelry right from the comfort of their own homes.

To compare online diamond buyers, take a look at our diamond buyer reviews page.

Posted in  Cash for Diamonds, Sell Diamond Rings |   Tagged 

 

How to Sell a Diamond Engagement Ring

Posted on Mar 14,2014

Diamond engagement rings are perhaps the most common type of diamond jewelry sold for cash. Whether you just went through a divorce or you’re strapped for cash and you find yourself having to sell one of your most valuable pieces of jewelry, selling an engagement ring is a big step so it’s only right to want to get the most money for it.

If you’ve already decided that it’s time to sell your engagement ring, taking the following steps can help ensure that you get the most money for your jewelry:

Know the Value of Your Ring

If you don’t have a valuation certificate of your diamond and you’re not sure what it’s worth, you can have it appraised by a qualified appraiser. However, if you don’t think that the value of your diamond is worth spending money on a professional appraiser, you can always go to a pawnshop or a jewelry store to have it appraised.

All jewelers and appraisers use the 4 Cs of a diamond to find out its value (Cut, Carat, Clarity, and Color). While gemologists also consider other factors, these four are the most important.

If you want to be able to get an instant quotation from an online diamond buyer before sending them the actual ring, you need to be able to provide its specifications. You should also consider the setting. If it’s set in gold, then find out the weight of gold in karats.

Knowing the specifications will make it easier for you to determine whether you’re getting a fair price for its value.

Find Buyers

There are many venues where you can sell your diamond engagement ring; there are pawnshops, jewelers that buy used jewelry, and of course, there are online diamond buyers.

If you’re looking for the best price for your diamond engagement ring, your best bet is to sell to a reputable online diamond buyer. They offer competitive prices, preliminary and final valuations, quick service and payment, and a lot of them guarantee to ship back the ring for free should you decide that the final price offer is not enough.

When looking for buyers online, make sure that they are rated and accredited by the BBB and check out online reviews. You should also make sure that their shipping service offers insurance and that the maximum coverage covers the value of your ring.

It would be a good move to ask for quotes from different buyers so you have a clear idea of the price offers but make sure to set realistic expectations.

Know when it is the right time to sell.

Look at the market prices for diamonds and gold. While the value of your diamond engagement ring will still be highly dependent on its characteristics (4cs), when there is a high demand for diamonds in the world market and prices are high, it’s easier to get a better price for your ring even if it is used. High demands usually result to jewelers purchasing diamond jewelry from individual sellers rather than from wholesalers. It would be wise to monitor market prices especially if you’re in no particular rush to sell.

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