How to Sell Rough Diamonds
Far from being the glittering stones found in jewelery stores, freshly mined rough diamonds resemble nothing more than dull, opaque pieces of drift-glass such as you might find on the beach. Most rough diamonds reach the market through bodies such as DeBeers' Central Selling Organization (CSO), which holds 10 exclusive sales called "sights" each year in London, England. A private individual wishing to sell a small number of diamonds will not have access to these channels, however, nor is he likely to be able to close a deal over the Internet without some kind of face-to-face meeting. Instead, his best hope is to try local diamond cutters, dealers and bourses.
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Instructions
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Acquaint yourself with all of the diamond's supporting documentation. Not all rough diamonds are of gem quality; those with too many imperfections are destined for industrial use. If you have any initial reports stating that your diamond has passed a quality inspection, with details such as its weight in carats, then you will be in a stronger bargaining position.
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Search the Yellow Pages under headings such as "Diamond Cutters" or "Diamond Buyers" for dealers in your region. Look for well-established businesses, then make contact to find out if they would be interested in viewing a small number of uncut diamonds.
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Take to the meeting any supporting documentation such as invoices and quality reports. A clear provenance will increase its value. If you cannot strike a deal with a local dealer, move onto Step 4.
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Go online and type the words "diamond bourse" plus the name of your state into your search engine. A diamond bourse is a trading center or market -- the largest in the U.S. being the New York Diamond Dealers Club (DDC). Once you have found your nearest bourse, phone or email them to ask about submitting rough diamonds for sale. Ideally, this will result in a situation where several dealers will compete for your goods.
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Tips & Warnings
An alternative is to take your rough diamonds to a professional cutter to be faceted and polished. Then, submit the loose, cut diamonds to a body such as the Gemological Institute of America to be certified. A cut, certified stone will have much more appeal to jewelers, collectors and private buyers. The whole process, however, will require an investment of several hundred dollars.
To find a diamond bourse, you will probably have to travel to your nearest big city. Secure your diamonds somewhere other than your handbag or wallet before you set off, and don't inspect them in a public place where they might attract unwanted attention.
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Resources
- Photo Credit diamond image by Zbigniew Nowak from Fotolia.com
