Oct 13, 2022
From plasma to precious metals, people are always looking for things they can sell to earn extra cash. Depending on your situation and how much extra money you’re looking for, one of the fastest ways to earn serious cash is to sell loose diamonds, diamond jewelry, or diamond rings. Although it depends on many different factors, selling diamonds can earn you hundreds or even thousands of dollars–enough to treat yourself, spoil yourself, or even help you out of a financial emergency.
Regardless of why you’re looking to sell diamonds for cash, you may have questions about how to sell diamonds, who to sell them to, and how much you can expect to make. We wrote this article to answer some of these questions to make it faster, easier, and more secure for you to get the best price on loose diamonds, diamond earrings, and diamond jewelry.
Diamonds are very valuable, but exactly how much you can expect to earn depends on many different factors. No two diamonds are alike, and the qualities that make each diamond unique also establish the price when you sell diamonds for cash. Determining diamond prices is even more difficult if you are selling a diamond engagement ring or other piece of jewelry that may also have precious metal content or other precious gems.
Because there are so many factors to consider when pricing loose diamonds and diamond jewelry, it’s important that you look for diamond buyers who are experienced and well-trained on how to properly appraise diamonds, jewelry, and precious metals, since your piece may be worth more than just the diamond(s) in it. Unfortunately there isn’t an easy way to tell you how much your diamond or piece of diamond jewelry is worth without looking at it, since even slight differences in carat, color, clarity, and cut of your diamond (known as the “4Cs” in the diamond industry) may have a significant impact on the price you can fetch–before even considering other factors such as precious metal content or additional precious gems.
Believe it or not, there are plenty of places that will offer you cash for your diamonds. Unfortunately, not all of them will offer you the same amount–or even a price you actually deserve for your loose diamonds or piece of diamond jewelry. While some places may intentionally try to undervalue your items so they can earn more profit after reselling, others simply don’t know what to look for or how to properly assess the value of loose diamonds and diamond jewelry.
Pawn shops, for example, may not have someone on staff that is trained on how to evalue diamond carat, color, clarity, and cut. And while there are tons of websites that claim to be “diamond buyers,” a disturbing number are set up only to offer the lowest possible price to diamond sellers like you who haven’t done their research. Fortunately, you have done your research–otherwise you wouldn’t be reading this!
With so many places to sell your diamond, what should you look for? For starters, even if you are looking to sell your diamond online, it’s a good idea to go with an online diamond buyer that has a physical location as well as an online presence. The reason is two-fold; first, if you live nearby, you can visit them in-person to feel more secure about the transaction, and second, if anything happens to your diamond or you feel uneasy about the experience, it will be easier to resolve the situation when you know where they are in the world and not just on the internet.
Another good thing to look for when selling diamonds, either online or in-person, is to look for a reputable diamond buyer with honest and transparent pricing. A reputable diamond buyer will not charge administrative fees, appraisal fees, or any other hidden charges, so you get the most for your diamonds and nothing less. But perhaps the most important thing to look for is a diamond buyer with experience. As we said earlier, by selling to less experienced buyers, you run the risk of selling yourself short if the appraiser mistakenly classifies your item as a VS1 rather than a VV2s, for example, or as K-colored instead of I-colored (it’s ok if you don’t know what these mean, but a diamond buyer definitely should).
Selling diamonds has never been easier, faster, or more secure. If you live in Arizona, you can bring your diamond earring, necklace, pendant, or loose diamonds to one of our locations in Phoenix or Chandler for an in-person estimate and instant cash offer. We also offer a risk-free way to sell your diamonds online. The best part is there is no risk or obligation to receive a free diamond valuation from the experts at Precious Elements. If you have any questions or would like to request a free estimate, chat with us online, fill out our contact form, give us a call, or visit us for an in-person valuation.