Three Tips for Selling Your Diamond Jewelry
Diamonds may be forever, but there are also times when you want to sell your diamond jewelry. It is important to thoroughly prepare before agreeing to sell. Diamonds are investment pieces and can be worth thousands of dollars, so you should get an accurate picture of your jewelry’s worth and value so you can be confident in your decision.
1. Test Your Diamond’s Authenticity and Quality
The quality of a diamond is measured by the 4Cs:
- Color: Shows the diamond’s lack of color
- Clarity: Refers to any tiny imperfections
- Cut: Influences the sparkle
- Carat weight: Determines the diamond’s total weight
Before selling your jewelry, it is always a good idea to perform a few tests to ensure its authenticity. Unless you purchased it yourself or have certification through the GIA, AGS or IGI, it can be hard to spot a fake diamond. You can either purchase a diamond tester or perform a few DIY tests such as:
- The water test: Fill a glass around 3/4 full with water. When you drop your diamond in, it should sink if it is authentic.
- The fog test: Gently hold the diamond and breathe on it. Fog should appear but then quickly disappear if it is authentic.
- The setting test: Examine the diamond and see if the setting reveals anything. Real diamonds are usually placed in finer settings like white gold, platinum or yellow gold. Note if it lists anything like CZ (cubic zirconia) on the setting, which means it is not real.
- The refractivity test: Pay attention to how the diamond sparkles. Real ones will sparkle and you should be able to read a newspaper through it.
- The scratch test: Scratch the diamond against a mirror. Authentic ones, due to their strength, will leave a mark.
2. Set a Realistic Price for Your Diamond
After you measured authenticity, you can gauge a realistic price point for your diamond jewelry by researching the market prices of diamonds. Typically, diamond prices are obtained by this calculation: cost = carat weight x diamond price per carat.
Keep in mind that this is an estimate. Other factors like the shape and cut quality can influence its worth.
3. Become Emotionally Ready to Sell
Many memories can be attached to diamond jewelry. It is important to weigh your monetary needs against emotional needs when preparing to sell. If you are keeping pieces due to obligation or are no longer interested or actively wearing them, you may be emotionally ready to sell.
Investigate Your Selling Options
As an international wholesaler with over 25 years in the industry, DNR Diamonds will offer you top value for your diamond jewelry. You can have your diamond professionally appraised for free before you decide to sell. If you are interested in a private consultation, reach out to our team and let us know how we can serve you.