Have diamond rings to sell? Have bits of diamond jewelry, loose diamonds, or old engagement rings that are collecting dust and not doing anything for you except taking up space? Want to make a bit of cash off of your diamond jewelry?
If you do, you are not alone – the diamond jewelry and gold market is growing exponentially in 2020, and thousands of people want in on it. The price of gold has skyrocketed over the past few years and has shown no signs of stopping. As a result, many people, just like you, with diamond jewelry to spare, want to cash in and receive a nice bundle for their unwanted possessions.
If you are selling a diamond or if you are selling diamond jewelry, Diamond Exchange Houston will pay you the highest prices. There is no better place to get cash for your diamonds.
Who are Diamond Buyers and What Do They Do?
If you are looking to sell your precious diamonds, then you definitely need to know more about companies that specialize in purchasing diamonds from you, providing you with cash for your set or loose diamond.
Most people instantly consider a pawnshop or local jeweler when deciding to part with an unwanted gem; however, diamond buyers are often a better option since they generally provide the fairest price, allowing you to receive more cash for your gem. Furthermore, they typically provide services that accommodate diamonds that are less than a carat all the way up to diamonds with carats in the double digits.
Who are Diamond Buyers?
In short, these are companies that invest in your diamonds and resell them to the public. Unlike pawnshops, these companies—many of which are online—have lower overhead costs and connections that provide them with an opportunity to give you a better price for your stone. Furthermore, they accept loose diamonds, unlike many pawn shops and some local jewelers. As a result, you are able to sell your unwanted diamonds to these companies and have a larger cash settlement in the long run.
When people rush to pawn shops to sell their diamonds, they are seeking to obtain cash instantly. Because of this desire, diamond buying companies are often equipped with company policies and processes that provide you the cash you desire in as little as 48 hours. Imagine not only receiving more money for your diamond but also getting that extra cash in two days— clearly a great option for individuals seeking to sell their gems.
In short, these diamond buying companies are prepared to handle the diamond buying process in a way that many pawn shops and local jewelers are ill-equipped to handle, not to mention the fact that you receive more cash in the process without sacrificing a timely turnaround.
What Do Diamond Buyers Do?
The specifics vary depending upon the company you select to purchase your diamond. Many companies will provide you a quote for your diamond and then send you a certified envelope (that is insured) for you to ship your diamond for a full inspection. Once this inspection is complete, they offer you a solid quote, and you can choose to take the cash or get your diamond back.
A few of the popular online diamond buying companies also provide other essential services that can provide you with an even larger cash settlement. One of these includes consignment services in which the diamonds buyers actually place your diamond on the market for you. In these situations, it may take around 30 days for the diamond to sell, but you can obtain substantially more money than taking the fast cash option.
Selling your diamond to one of these buyers is a great way to increase the amount of money you receive in exchange for your diamond. Be sure to research the company and understand all the services they offer so you can obtain the best value for your diamond.
What’s my diamond worth?
There are a lot of factors that go into determining the value of a diamond. The most important things to remember, however, are the basic four C’s; cut, color, clarity, and carat weight. These four things can dramatically affect the value of a diamond, for example, a 1ct, D color, internally flawless stone can be worth twice as much as a 2ct, lower color, heavily included diamond.
A major factor in determining the diamond’s worth is by measuring the mathematical proportions. The “cut” of the diamond means the diamond’s proportions, including symmetry and polish. If you have two diamonds that are the exactly the same carat weight, but one has an ideal cut, that stone will be worth considerably more than the diamond with the poor cut grade. A 2.05 carat Ideal cut GIA G VS1 could be worth $20,000, while a 2.50 H SI1 with bad proportions could be worth half that.
Here is a list of major factors that contribute to the worth of your diamond or diamond jewelry:
- The four C’s (cut, color, clarity, and carat weight)
- Proportions, symmetry, and polish
- Fluorescence (a natural radiation occurrence emitted from the diamond itself)
- Any physical damage to the diamond (chips etc..)
- Setting value (the worth of the metal and any additional diamonds used in the diamond’s setting)
What is the Diamond Selling Process?
Initially, people may be skeptical of the diamond selling process associated with diamond buyers due to their lack of understanding. Although the specific process varies depending upon the company you sell your diamond to, the overall process tends to be similar to the following scenario.
- Step One: You contact the company and request a pre-paid shipping label from the company. This shipping label is often insured for approximately $25,000 to ensure the safety of your diamond.
- Step Two: The diamond buyers receive your diamond and perform an inspection to determine the price they can offer you for the gem.
- Step Three: They provide you with a cash offer (often within 24 hours) for your diamond.
- Step Four: You can accept the offer and await the next-day shipping of your check, or you can decline the offer, and your diamond is shipped back to you at your expense.
The process to sell your diamonds to diamond buying companies is definitely safe and incredibly convenient as you do not even have to leave your home throughout the process. This is the option that most people choose due to the ability to receive a higher cash payment than if they sell their diamond to the local pawn shop.
Now you know the diamond selling process associated with diamond buyers. You are well on your way to selling your diamond and getting the cash you desire.
Three Things to Ask Your Diamond Jewelry Buyer
When looking to sell your diamond to a jewelry buyer, it is essential that you enter the process prepared to ask the right questions to assist with selling your unwanted gem. The buying process can be simple and efficient if you completely understand the ins and outs of the company you are using and know what to expect throughout the process. Here are three questions you should ask your jewelry buyer before the process even begins.
What are the Services Offered?
Some companies offer various diamond jewelry buyer services that go beyond simply providing cash for your diamond; therefore, understanding the services specific to the company you choose can go a long way in finding out the best option for your situation. For example, you may wish to obtain cash as quickly as possible due to financial need. If so, Diamond Exchange Houston jewelry buyer is equipped to give you a quick turnaround that puts cash in your hand in two days or less.
On the other hand, if you desire to obtain a jewelry grading report to ensure that you are obtaining a good price for the cut, clarity, color, and carat-weight, then some companies will offer this grading report service as well. Diamond Exchange Houston even offers incredible consignment services in which they put your diamond on the market for you, allowing you to obtain the maximum value at your convenience. This process tends to take a little longer but is ideal for anyone seeking to receive the highest bid for their diamond.
How Long Until I Receive the Cash?
The second question you need to ask your diamond buyer revolves around when you will receive payment. Some companies can provide you with the cash in as little as 48 hours, which is incredibly fast and efficient. Others may not provide you the cash for your diamonds for several days or even weeks. When deciding to ship your diamond to a jewelry buyer, it is essential that you understand when you will receive your payment, which can vary depending upon your diamond and company policy.
Is My Diamond Insured?
If you use Diamond Exchange Houston, which is typically preferred as they often provide you with a significantly higher cash amount for your diamond in comparison to local jewelers and pawnshops, then you will be shipping your diamond. In these instances, it is pertinent that you make sure the company will be insuring your diamond throughout the shipping process. This insurance provides you protection and ensures that your diamond is not lost or stolen in the process from your residence to the jewelry buyer.
In the end, when selling your diamond to a jewelry buyer, make sure to ask the right questions, and ensure that you understand the process from start to finish. What are your selling options? How long until you will receive payment? And will your diamond be insured during shipping? These questions will have you well on your way to selling your unwanted diamond and receiving the cash you desire.
Selling Your Diamond Jewelry: Appraisal vs. Market Value
Do you know how the value of your diamond is determined?
Let’s assume you want to sell diamond jewelry, and your diamond has been appraised for $1,500; therefore, you believe that you should get that $1,500 (or somewhere close to that) when you decide to part with your diamond. Many people go into the diamond-selling process and leave disgruntled because they do not understand the difference between the appraisal value and market value.
Understanding these two terms can greatly assist with preparing you to part with your diamond and receive cash in exchange.
What is a Diamond Appraisal?
Many people desire to obtain close to the appraisal amount when they decide to sell their diamonds. However, this appraisal value is not indicative of what to expect when it comes to receiving cash for your diamond. Why?
Simply put, appraisal value differs greatly from market value.
When you purchase a diamond, you can request an appraisal from the jeweler (hopefully a GIA certified jeweler), or you can receive a diamond appraisal outside of your local jeweler. Either way, this appraisal represents a value on your diamond that is close to the retail value (often what you paid) for insurance coverage purposes.
For example, let’s say the $1,500 diamond ring you purchased has been appraised for $2,000. That means you can receive insurance (protection) for that diamond for up to $2,000. This is essential if something happens to your diamond. If it was appraised at market value, you would get significantly less coverage than you paid for your ring. However, this appraised value does not mean that a jewelry buying service will pay that price if you desire to sell your diamond ring.
What is Market Value?
Unlike the appraisal value – which is not indicative of how much the diamond is worth – the market value is what diamond buyers use when providing you a quote because it represents how much your diamond is likely to sell for in an open market. Therefore, if the buyer intends to resell your diamond (which is likely the case), then they would provide you with a quote much closer to the market value than to the appraised value.
When you purchased your diamond, you paid probably 2 to 3 times above the market value. Although the market value of your diamond increases over time, it is likely to never catch up with the actual amount you paid. Therefore, when you desire to sell diamond jewelry, it is important to understand that the appraised value is not comparable to the market value, which is used to provide you with a cash quote.
Selling your diamond can be simple and efficient, with many purchasers providing you with a fair price; however, the appraisal does not determine the amount of cash you will receive for your diamond. The market value is a better indicator.
3 Essential Tips for Successfully Selling Your Diamond
When it comes to selling your precious diamond, there are several things to take into consideration. First, where do you plan to sell your diamond? Second, is your diamond certified, or do you need a grading report? Finally, how do you want to sell your diamond? This guide will provide you with pertinent information to make your diamond selling process a success.
Tip #1: Deciding Where to Sell Your Diamond
When it comes to selling your diamond, you basically have three options—pawn shops, local jewelers, or online diamond buyer companies. Pawnshops are notorious for providing the lowest value for your diamond since they are not specialized in determining diamond values. Local jewelers may provide you more than your pawn shop experience; however, in the end, you receive only slightly more money for your diamond. Plus, most require that your diamond be set and will not accept any loose gems.
This leaves you with one of the most popular and effective ways to sell your diamond – through an online diamond purchasing service. These services often provide the fairest prices, allowing you to receive a larger cash return for your diamond. In the end, if you are looking for a smooth transaction that provides you a fair price in a little as 48 hours, this is likely your best option.
Tip #2: Obtaining Grading Reports
In addition to relying on flawed methods of selling diamonds, many people attempt to also rely on appraisals when obtaining cash for their unwanted diamonds. The error in this is that the amount of money you will receive depends upon a grading report or diamond certification as opposed to an appraisal value; therefore, obtaining a grading report can help you increase the amount of money you receive for your gem. These grading reports provide a detailed description of your diamond, especially including the cut, clarity, carat weight, and color.
Many people request a grading report when purchasing their diamond initially; however, if you did not receive a grading report, it is definitely not too late. You can request a grading report from the Gemological Institute of America (GIA) for a fee that varies depending upon the carat-weight. However, many online diamond purchasing services can actually do grading reports for you, saving you time and money.
Tip #3: Deciding How to Sell Your Diamond
Many people are unaware of the fact that many diamond buyer services provide multiple ways to sell your diamond, each providing you with unique opportunities to determine what the highest priority is for you— selling your diamond immediately or obtaining the best price for your gem. For example, many online buying companies provide consignment services in which they actually list the diamond for you, providing you with more money for your gem.
In conclusion, selling your diamond requires you to determine where to sell your diamond, how to obtain a grading report to increase max value, and how to obtain the most value through the best selling method.
Diamond Buyers in Houston:
Selling diamond rings and other diamond jewelry is easy because Diamond Exchange Houston buys all shapes and sizes. You can sell your diamond rings, wedding rings, engagement rings, or just sell loose diamonds safely and easily. They can convert your loose diamond, diamond ring, or other diamond jewelry to cash—fast.
Diamond Exchange Houston is diamond buyers and jewelry buyers. If you have some jewelry that is no longer serving you and want to get cash, then they are here to help. Here is a list of the types of diamond jewelry that they buy:
- Old Engagement Rings
- Diamond Rings
- Loose Diamonds
- Wedding Bands
- Cash For Gold
- Custom Jewelry Pieces
- Scrap Gold and Platinum
- Gold Coins
- Diamond Necklaces and Bracelet
- …and more!
That is a list to give you an idea of the types of jewelry that they buy. If you are interested in getting a quote to sell your diamond jewelry, fill out the contact form with a description of what you would like to sell, or you can call them at 281-623-1105. They will be glad to educate you on the process and discuss their jewelry consignment option as well.
When you sell diamond jewelry or engagement rings with Diamond Exchange Houston, you will experience easy, secure, and hassle-free service. Their talented staff of professionals offers personal, friendly, and efficient service to ensure your comfort and satisfaction every step of the way. Their specially-designed shipping materials are also secure and insured to protect your valuable rings and give you peace of mind. Try the Diamondexchangehouston.com method and transform your diamond jewelry into cash today!