Obviously this is the number one question we get here at Trade In My Diamond – what’s my diamond worth? Whether you’re considering selling your diamond ring, diamond earrings or any other diamond jewelry, you want to make sure you get the most cash for your diamond. The four biggest factors in determining your diamond’s worth are the Four C’s:
CARAT – how much does your diamond weigh?
COLOR – is there any yellow hue in your diamond?
CLARITY – are there any imperfections in your diamond?
CUT – how well does your diamond reflect light?
You may know the carat off the top of your head, but you may not know the color, clarity or cut. Where do you find this information? If you have a certificate for you diamond, this information can be found there. You may have an AGS Certificate, EGL Certificate, GIA Certificate, HRD Certificate, or an IGI Certificate. These certification agencies are considered the most reliable in determining the value of your diamond. Additional helpful information on these certificates may include shape, measurements, depth, table, crown, pavilion, girdle, polish, symmetry, and fluorescence.
Please indicate that you have one of the above certifications when completing your Trade In Packet and enclose it (or a copy) when you return your diamond jewelry to us. Jewelry appraisals and/or insurance appraisals are also helpful in the event you do not have an official certification. However, these appraisals are less reliable because they merely estimate the replacement value of your jewelry at retail prices.
Even without any of the above certifications or appraisals, we can still determine a rough estimate of your diamond’s worth once we receive your jewelry. If you happen to know the clarity, color, cut, and carat but do not possess any certification, please indicate this information in the “Note” section when you request your Diamond Trade In Packet to the right.
What I Paid For My Diamond Vs. What I Can Sell My Diamond For
Jewelry store prices reflect a great deal of costs that are invisible to you, the buyer. Diamonds are first mined and then cut by a specialized diamond cutter. From there, they are sold to a diamond broker, or wholesaler, who then sells that diamond stone to a jewelry store who then sets it in a piece of jewelry which eventually makes its way to the showroom floor. Along the way, there are costs that are incurred. But the largest costs are at the retail level. Jewelry stores have to pay rent, advertising, salaries, insurance, etc. They must stock large amounts of inventory in order to provide large selections to their customers. It is not uncommon for a diamond ring to sit in a showroom for six months or more before being purchased.
Diamond rings and other diamond jewelry certainly retain their value. However, it is just not realistic to expect you will be able to sell your diamond for the amount you paid for it. A jewelry store doesn’t have to pay you what you paid for your diamond – they can merely buy diamonds wholesale for much cheaper. Thus, you must be willing to sell your diamond for less than a jeweler can purchase the same diamond on the wholesale market.
We at Trade In My Diamond are fourth-generation jewelers with direct channels into the wholesale diamond business along with a network of other jewelers across the country. We can guarantee you to give you more for your diamond than anyone else because we have cut out any middle men. In fact, if we can’t beat a competitor’s offer for your diamond by at least 10%, we will send you a free pair of 1ct moissanite earrings free of charge! And there’s nobody else on the web that will let you trade in your diamond for an indistinguishable moissanite stone, thereby not only getting the most cash for your diamond, but allowing you to keep your jewelry – and your dignity too!
Selling to a Pawn Shop
Most people look to sell their diamond jewelry either to a local jeweler or to a pawn shop. We’ve explained above what to expect when selling to a jeweler, but can you get a better price from a pawn shop?
The business of a pawn shops is to loan money. Its primary goal is to take collateral from customers (in this case, a piece of diamond jewelery) and loan money to their customer. When the customer pays the loan back, they get their collateral back (in this case, the diamond jewelry). When a customer does not pay the loan back, the pawn shop then is stuck with the collateral. The pawn shop must then go through the same process as you would – go through a jeweler or a wholesaler.
Pawn shops are not diamond experts or even jewelry experts. They will merely test the diamond with a diamond tester to ensure it’s real and then make an offer on a quick visual inspection. The price you can expect from a pawn shop is going to be basically what the pawn shop thinks you will accept – and nothing more!