Understand Your Diamond Worth Before Selling It!

If you are going to sell your diamond then there are many questions that must be popping up in your mind but the one common question that remains in the mind of almost all the people out there is how much is a diamond worth. 

You might have many options for selling your diamond and getting a fair price but do you think the price offered by pawn shops and the local jewelry shop is the price that your diamond actually deserves? If you are not aware of even the basics of your diamond then there is no way you can get the best price since there are many scammers out there looking to make a big profit from the deal. 

There are many aspects of diamond that decide its resale value and a buyer can play with these aspects to offer you a lower price while making you believe that you are getting the best deal. So, in this blog post, we will look at some important things you should know about your diamond before selling it. 

The resale value

Each and every type of genuine diamond, ranging from a pair of diamond ring to an engagement ring, have a specific resale value. But keep in mind, the resale value of your diamond is always going to be less than what you paid to buy it. So, never be in the misconception that you will get the exact amount you paid for buying the diamond. 

There are many reasons why the resale value is less than the actual price, from the hassle of selling a pre-owned diamond to the markup price of a diamond. In addition to this, the way you want to sell your diamond is also going to affect its resale value. 

So there is no direct answer to the question ‘ how much is a diamond worth’ as there are many factors that play a role in the final price you get after selling. If you’re searching for a reliable buyer, we recommend checking out some diamond buyers in the area for a good deal on your diamond.

What can I expect after selling my diamond ring?

Because no two diamonds, diamond buyers, and diamond buying process are the same, you can never expect to get a precise answer to your question of how much is a diamond worth. You will have to accept the fact that you will lose money when selling diamonds but the amount of money you lose depends on:

• How much the diamond is wroth 
• Which platform you have chosen for selling the diamond
• Where you bought your diamond ring from 

One of the most important factors that you have to keep in mind is the 4Cs; clarity, carat, color, and cut quality. If you will be aware of the 4Cs of your diamond then the chances of getting the best price increases and there is no you way can be scammed. 

In addition to this, the place from where you buy diamonds also plays an important role. Like, when you buy a diamond from a retail store, you pay the market price of the diamond in addition to the markup that is already added to the price. 

But when you buy a diamond from an online store, you pay a smaller markup in comparison to what you pay to a brick and mortar shop. In the case of online stores, this markup price is around 18% but it can vary.  

Does the value of diamond decrease or increase with time?

There can never be a precise answer for this question as well. The price of diamonds keeps on changing with time. Before declining slowly after the great recession, the price of diamonds has increased over the last decade but no one can be sure whether it will keep on increasing in the future as well. 

Many people think that diamond is a safe investment since the level of risk involved with diamond is less. But in almost all cases, this common perception of people doesn’t match up with reality. 

In general, the prices of diamonds don’t increase with time until it is rare diamond. In the past couple of years,  the prices of normal diamonds have slightly decreased and this is why, for many people, diamond is a poor investment when it comes down to high price appreciation over time. 

But if you look at the bigger picture and analyze the price of diamonds over a longer period of time then you will find that the prices of diamonds have increased. The data from Statistica shows a similar trend. 

Selling a diamond and getting the right resale value might not be as easy as it seems but with a little bit of research and by making the right choices, you can always get the price that your diamond deserves. It’s true you have to suffer loss while selling a diamond but with a better approach, you can reduce this loss.