How to Sell a Diamond
In some cases, a diamond isn’t forever. Whether you’re looking to sell jewelry that you inherited, upgrading your jewelry, letting go of an engagement ring from a previous relationship, or seeking the resale of diamond jewelry, there are countless reasons you might be looking to sell a diamond. Unfortunately, unlike most diamonds, clarity is not an attribute that the jewelry resale market is known for. There are countless factors to consider when you’re looking to sell your diamond.
Here, we are breaking down some of the most frequently asked questions and providing advice to make sure that you get the most for your diamond jewelry.
How do I know what my diamond is worth?
Understanding what a diamond is worth can be confusing, especially considering the several variables regarding the resale of diamond jewelry. Like any item, the price of a diamond is reliant on supply and demand. If a diamond is rarer, there will be fewer comparable diamonds on the market. As a result, the supply of these diamonds is more limited. Since there tends to be a consistent demand for diamonds, it also means that diamond jewelry buyers will pay more for rarer diamonds.
There are four primary factors that contribute to the rarity and value of any diamond. These factors are known as the 4 Cs. They are carat weight, color, clarity, and cut. You may have heard of the 4 Cs but as a refresher, each of these characteristics describes different attributes of a diamond.
Outlined below is an explanation of each one and its effect on what your diamond is worth to a secondary buyer.
Carat Weight: Carat weight is arguably the most important aspect of the 4 Cs, even for connoisseur diamond jewelry buyers. It is also the most significant value-adding factor for your diamond. As the term “Carat Weight” suggests, carats are measured in weight, not in overall surface area. This means that some diamonds are deeper or more shallow than others. So, as a result, some diamonds with identical carat weights may look bigger or smaller.
A diamond’s shape can play an important role in the appearance of certain carat weights in terms of size. Some sizes, like pears and ovals, can look significantly larger than more shallow diamonds of equal weights. Similar to how two individuals who weigh the same can vary dramatically in size, diamonds can vary in dimensions despite having the same carat weight.
While carat weight does significantly affect the value of a diamond for all diamond jewelry buyers, it does not indicate a diamond’s quality. Nevertheless, it does not affect the value proportionately. Because bigger diamonds are rarer than smaller diamonds, an increase in size tends to exponentially increase a diamond’s value. If all other factors are equal – cut, color, and clarity – a one-carat diamond is not twice the cost of a half-carat diamond. It is approximately four times as valuable.
Cut Grade: Cut refers to the proportions of a diamond – not the shape. Cut grades specifically refer to the angles and measurements of a diamond. When all of these factors are ideal, the diamond will reflect light more efficiently, thus resulting in more brilliance to the naked eye. In most cases, cut is man’s only contribution to the diamond’s beauty.
However, not all diamonds can be equally evaluated by diamond jewelry buyers on the basis of their cut. The only shape of diamond that has universally agreed upon cutting standards is the round brilliant shape diamond. The GIA cut grades go from Excellent, to Very Good, to Good, to Fair, to Poor. Diamonds with a cut grade of Good or below are notably less valuable than diamonds with a better cut grade. The cut grade alone can affect a diamond’s value by 25% or more.
All other diamond shapes such as the oval, princess, radiant, etc, have preferred dimensions and length-to-width ratios. The precision of your diamond’s cut in relation to these industry benchmarks affects its value.
Diamond cutters’ primary concern is maximizing the carat weight they can produce when cutting a rough diamond. This focus on carat weight yield often produces diamonds that do not fall within industry preferred standards.
Shape: Many people assume that cut refers to the shape of a diamond, however, this is inaccurate. Cut refers to the proportions of a diamond while shape refers to the general makeup of the diamond. Although the shape is not part of the 4 Cs, it does have a strong influence on a diamond’s value.
Since the liquid value of a diamond is based on current market demand set by diamond ring buyers, after carat weight, the diamond’s shape has the most influence on it’s value. As jewelry trends evolve, the market demand for particular shapes shifts with it. Consequently, this means that more classic styles tend to be worth the most on the secondary market. Round diamonds have the best value retention due to the consistent demand for this timeless style. In contrast, other shapes of the same size and quality may be worth considerably less due to current consumer preference. Since demand for these shapes fluctuates, much like fashion, the market can be much less reliable. For example, princess-shaped diamonds have fallen out of favor, creating far more supply than demand. These rapidly changing shifts also mean that there can be some distinctive discrepancies between the diamond appraisal value and the actual worth of the diamond you’re trying to sell since many appraisals do not take shape into account.
Color Grade: Traditionally, the ideal diamond is white, however, very few diamonds have a pure white hue. A diamond’s color refers to its natural warmth. This warmth can be seen in the color a diamond casts. Diamonds can range from colorless to intense warmth. A color scale reflects these two polarities, or if a diamond falls somewhere in between. Diamonds with a color grade of “L” or below trade at significantly larger discounts, as buyers as a whole, are less interested in diamonds that appear discolored.
It should be noted that fancy colored diamonds can exist outside of the context of the white diamond. These diamonds are measured on color intensity scales outside of the traditional GIA color grade system. Typically, the more intense a fancy color is, like a canary yellow diamond, the higher its value on the secondary market.
Color Treatments: There are a number of manmade procedures that can be used to achieve the ideal white color or to intensify the vibrance of an already colorful diamond. Color treatments like HPHT (High-Pressure High Temperature), can improve a diamond’s color or transform its color from a low color diamond to a more desirable color, such as blue, green, or yellow.
Color treatments do not improve the rarity of your diamond. Consequently, they have a notable negative effect on the secondary value of your diamond. Many diamond buyers will decline to even make an offer on diamonds that have been color-treated. However, if you have a color-treated diamond over 1ct in weight, Diamond Banc is happy to evaluate it to potentially purchase it!
Clarity: A clarity grade categorizes the amount and type of internal characteristics found within a diamond. As a diamond forms, foreign elements may build up within its structure. These elements, called inclusions, form something like a birthmark for diamonds and will appear as dark specs within a gemstone.
All Other Laboratories
Non-profit, undisputed industry leader in diamond evaluation.
For-profit, with evaluations often open for debate and question.
Gives the most conservative and accurate grades.
Liberal evaluations that benefit the initial seller (retailer).
Industry leading technology and practices to ensure accurate grading and assessment.
Competency, accuracy, and evaluation metrics wildly vary.
Undisputed industry golden standard.
Diamonds have inflated retail values due to generous/liberal grading.
Clarity grades range from “Flawless” to “I3” for included. Diamonds with clarity grades of SI1 to I1 are generally the most commercially desirable. The inclusions in these clarity grades are typically subtle enough that they cannot be noticed with the naked eye. However, since they are less than “perfect”, it will also lower the price of a diamond so a potential buyer can spend more money for the carat weight.
Diamonds with “ideal” clarity grades, such as VVS2 and Flawless often sell for less than they were originally purchased for. In comparison to sellers in the SI1 to I1 range, it can be harder for a diamond buyer to resell “perfect” or near-perfect diamonds.
Although jewelry buyers are often encouraged to covet the rarest and most flawless diamonds, those looking to sell a diamond may have a different perspective. Since high clarity diamonds tend to have a lower market demand than slightly less perfect diamonds, it means that clarity delivers diminishing returns. Unlike most faucets that affect a diamond’s worth on the secondary market, rarity and demand simply do not match up when it comes to clarity. As the demand for flawless diamonds is lower than other alternatives within the market it can make it harder to sell these “flawless” or near-flawless diamonds.
Clarity treatments: There are numerous treatments that people can apply to diamonds to improve their visual appearance, including fracture filling and laser drilling. Much like color enhancements, these treatments have a detrimental effect on the recycled diamond market value.
Many diamond buyers will not buy enhanced diamonds of any type regardless of their carat weight or grades. Diamond Banc is always happy to assess treated diamonds to potentially provide a purchase offer.
Fluorescence: A diamond may be exposed to ultraviolet light during its formation. This can cause the diamond to emit visible light called fluorescence. This phenomenon is natural.
In most diamonds, fluorescence is presented as blue light emission, although other colors of fluorescence exist. Many diamonds exhibit no fluorescence at all. When the GIA grades fluorescence in a diamond, the graders specifically focus on the intensity of detectable fluorescence.
Fluorescence rarely has a negative effect on a diamond’s beauty but can have a significant negative effect on its value. Generally, fluorescence begins to negatively affect a diamond’s value if the diamond has an “I” color grade or higher. As color and clarity improve, typically above an I in color and SI2 in clarity, the fluorescence has a more pronounced negative effect on a diamond’s value.
Beyond the 4Cs, what you should know when selling a diamond:
Although the Carat Weight, cut grade, color, and clarity all have a profound effect on the value of a diamond on the secondary market there are other aspects to consider when you’re looking at an offer. Specifically that your appraisal value may not accurately reflect a diamond’s value.
The quality and accuracy of appraisals vary greatly depending on where you obtained the appraisal. This means that appraisal values are often inflated. From a comprehensive level, the retail appraisal value generally reflects the price it would cost your insurance company to replace your jewelry with a comparable new item. These figures are often higher than what a person actually paid.
Retail appraisals also heavily factor in the labor costs of producing and selling, the piece as well as the expense of retail markups. They are generally produced for insurance reasons and in most cases are at least 100% higher than wholesale values.
Liquid values represent your piece’s current pre-owned condition when you’re looking to sell a diamond. These values reflect what a diamond expert is willing to pay immediately for your jewelry. These values are based on the demand for this item on the secondary market and the actual value of the materials used. In most cases, original labor costs and retail markup are not factored into a liquid value appraisal. These values vary greatly depending on the accuracy of the evaluation, the financial position of the prospective buyer, their area of expertise, and the distribution channels they have access to.
When you’re looking to sell a diamond, it’s often natural to consider the value of a ring’s setting, in addition to the diamond itself. However, most people want the experience of selecting or designing their own engagement ring. This means that there’s not much demand for a used engagement ring setting. Many people presume that because a used setting is being sold, that the relationship that the item represented has ended. This also has led to a decreased demand within the market.
Consequently, this means that your setting’s values will largely come from the materials that were used in its construction. Like other luxury items, the majority of your setting’s initial cost reflected the time, labor, design, and retail markup associated with the formation of this ring. Much like how a wedding dress often costs thousands of dollars, yet it only contains a few hundred dollars worth of silk and other materials, the materials used to create the ring make up a small portion of the initial amount paid for the ring.
Most diamond buyers purchase settings for the value of the materials used to create it.
The precious metals and diamonds contained within a setting will most likely be disassembled and the materials sold separately.
In the rare instance where a setting is sold “as is” to consumers, retailers often must drastically discount the used setting. Most ring settings are made of small diamonds which are less rare because they’re exponentially more plentiful and therefore less valuable. This means that even if your ring stays identical to the way it was when you purchased it, the value for the style will still decrease decidedly.
What’s The Difference Between A GIA Certified Diamond And Another Lab’s Certification?
The GIA is the gold standard when it comes to evaluating what a diamond is worth. This lab is trusted by industry experts to provide a clear, accurate, and unbiased analysis of a diamond. Unlike other laboratories who can often be biased, the presence of a GIA certificate can add thousands of dollars to the value of a diamond. Here is a breakdown of the difference between the GIA labs and other diamond laboratories
National Diamond Buyers Online Or In Person
When you’re looking to sell a diamond, a qualified, trustworthy buyer can mean the difference between a high offer and a positive experience or a misguided exchange. A good buyer will take every aspect of the diamond into consideration to make sure you receive the most when selling your diamond.
Diamond Banc is a national expert diamond buyer with offices throughout the United States. We take every value-adding factor into consideration to pay premium market prices for consumer’s diamonds. We offer immediate funding, fast and transparent communication, and provide a zero-pressure process. We even encourage our sellers to shop around for themselves. Our offers never expire, so we’ll honor any official offer we’ve provided after you’ve had the opportunity to look at other diamond buyers.
Our diamond buyers prioritize simplicity and transparency. These traits are especially significant due to the often opaque nature of the diamond industry. We will show you diamonds comparable to yours for sale on the largest dealer-to-dealer diamond trading platform and explain how we derive our purchase offer. Not only will we pay you for your primary diamond but also for the setting and accent diamonds. So instead of scouring the internet and searching “the best diamond ring buyers near me,” choose Diamond Banc.
We believe that honesty and directness are signs of respect. Our job is to explain to you the value of your diamond in the current marketplace and assist you in maximizing your return. If you wish to sell your diamond engagement ring, we will provide you an immediate cash offer and fund the transaction within 24 hours.
Maximize Your Return Via Consignment
If you have a longer time horizon to sell your diamond or engagement ring, and place importance on maximizing your return, consider selling your ring on consignment. Consignment with Diamond Banc selling allows you to receive a higher return, as your item is sold once a buyer who will pay the highest premium has been identified. This option generally takes 3-6 months.
With the consignment option, we actively market your diamond or jewelry items and pay you once they sell. We take the time to professionally refinish and photograph your pieces before offering them to a national network of buyers via numerous online selling platforms targeting consumers and highly qualified industry experts.
If you’re looking for the speed of an immediate purchase of your diamond, but you’re also interested in the upsides of a high consignment price, we can help there too. Diamond Banc offers a unique service where we will advance a portion of the anticipated sale proceeds immediately and therefore, there is no need to continue the search for “diamond ring buyers near me.”
Diamond Banc will gladly provide you with an immediate purchase price and consignment purchase price with any evaluation.
Sell your diamond ring to Diamond Banc.
Diamond Banc purchases a number of diamond and luxury jewelry pieces, including, certified and uncertified diamonds from 0.50ct and up. We will buy diamonds of any shape and therefore, we are the best platform for the resale of diamond jewelry. We also purchase fancy colored diamonds, and designer jewelry including signed pieces from David Yurman, Tiffany & Co., Cartier, Van Cleef & Arpels, Harry Winston, and more.
Why work with us to sell your engagement ring or other diamond jewelry?
1. Kindness & Communication: Diamond Banc was created from a family of jewelers. We were built on the premise that clients should be treated with the same respect and enthusiasm when they wish to sell their diamond, as they received when they initially purchased it.
2. High Purchase Prices: Diamond Banc’s ownership group is composed of several of the largest independently owned diamond retailers in the country whose sales exceed $50 million annually. This unique advantage allows us to pay premium prices for your diamonds as we sell a significant amount back to the end consumer. In addition, our proprietary selling process includes national diamond dealer auctions and trading platforms. We know which buyers most appreciate which types of diamonds, allowing us to pay you the most. This comprehensive network also allows us to offer accurate and data-driven offers to make sure you’re getting the most of your diamond.
3. Speed & Ease: You will find that Diamond Banc’s communication and speed of follow-up is unmatched from any other diamond buyer or online diamond buyer in the nation. We do what we say we will do, issue payment promptly, and provide maximum communication throughout the process. So choosing us after searching for diamond ring buyers near me is an ideal decision.
4. Safety & Integrity: Diamond Banc maintains an A+ rating with the BBB and believes the best way to thrive is to operate with the highest integrity and make our customers a top priority. From shipping to storage, Diamond Banc implements rigorous tracking and video recording procedures. We treat your valuable and treasured items as if they were our own.
TWO WAYS TO WORK WITH US
MAIL-IN YOUR ITEMS
It doesn’t matter whether you are looking for a company that will buy used diamonds or looking for reliable luxury item buyers, you always have the following two options to move forward with our process:
GET A QUOTE
Complete our free and simple submission form describing your item. After reviewing your submission, our team of experts will contact you with an initial quote, usually within one business day. We provide the fastest quotes in the nation when you buy and then decide to sell diamonds with us.
INSURED OVERNIGHT SHIPPING
After reviewing our initial offer, we will provide you with a prepaid shipping label to safely send in your item for an official evaluation. All shipments are insured, so you can rest assured that you’re fully covered. You may also bring your item to one of our many locations as along with our jewelry selling sites, we have a vast network of physical locations as well.
Once your item has been evaluated, we will contact you with our official offer and arrange for an immediate payment via check or wire transfer. Don’t like our offer? No worries! Your item will be quickly returned to you. No risk. No obligation.
VISIT US IN PERSON
GET A QUOTE
Complete our free and simple survey describing your item. After reviewing your submission, our team of expert jewelers will contact you with an initial quote, usually within one business day.
After reviewing our initial offer, we will contact you to set up an appointment to visit one of our numerous locations nationwide to immediately complete your transaction.
Once your item has been evaluated in person by our experts, we will issue immediate payment via check or wire transfer. Don’t like our offer? No worries! With Diamond Banc there’s always no risk & no obligation.