How to Sell High Quality Diamond Rings
Diamonds come in many different price and quality ranges. Sometimes it is enough to offer the highest carat size for the money when you are dealing with lower quality diamonds. However, selling a high quality diamond ring is different, since there are several factors that determine the fair market value for a diamond. Some of these differences cannot be easily seen or seen with the naked eye, yet they affect the price all the same. Diamonds are priced according to where they fall in the four Cs: carat, color, clarity and cut. Selling high quality diamond rings requires you to be familiar with these factors and to find and communicate their value. Does this Spark an idea?
Instructions
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1
Know the quality of the diamond ring you are selling. If the ring does not come with a certificate verifying the carat weight, color, clarity and cut, have the ring sent to a lab to get one. The most reputable labs, known for their tight standards, are Gemological Institute of America (GIA) and American Gem Society (AGS). You can find their addresses on their websites.
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Use the Rapaport Diamond Report (or Rap sheet), an industry guide to wholesale pricing for different quality, size and shape diamonds, to determine the current wholesale value of your diamond.
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Go to a retail jeweler with the certificate and ask whether he will buy it and at what price. If a jeweler has a need for a diamond like yours, since he will probably take it out of the ring, he should offer you at least the Rap sheet value.
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4
Place a classified ad, being very specific about the quality and where the diamond was certified from. Set a price that is higher than wholesale, but less than what local jewelers are selling the same quality ring for. There has to be a price incentive for prospective buyers to buy the ring from you instead of from a jeweler who can offer a warranty, sizing and service.
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5
Put the ring on eBay with as high quality a picture of the ring as you are able to get. This may get you buyers from a larger market, but you will also be in much stricter price competition and you run the risk of dealing with a seller who is less than honest or ethical.
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Let family, friends, co-workers and people you network with know that you are selling a high quality ring. They may know someone who is looking for one, and you will not have to deal with complete strangers, reducing the risk and nervousness for both of you.
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Do not accept anything other than Paypal, if dealing online, or a certified check or money order, if in person. Be sure to fully disclose any and all pertinent information about the diamond and the ring.
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Have the buyer verify the quality of the merchandise and sign a receipt to that effect. This protects you from any "switches" or claims from the buyer. Do not give her the ring until you have cash in hand.
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Tips & Warnings
Forget about what you paid for the ring or what the "appraised value" is. The price someone is willing to buy the ring from you is going to be different than what you paid for it, and "appraised value" is often either subjective or inflated to make the ring look like a better value than it actually is. The "insurance replacement value" is a far better measure of the true appraisal value.
