Diamonds are naturally strong. They are timeless and can maintain their sparkle for a long time, even with a small scratch. If you love jewelry, you’ll probably love a diamond’s elegance. However, despite their beauty and resilience, there comes a time when you need to sell your diamonds. Perhaps you need to upgrade, you need some quick cash, or you have too many diamonds.
To make good money, you need to find a reliable buyer who offers a fair price. You have two main options: selling at a nearby store or online. For convenience, selling online is the best option because you do it in the comfort of your home.
Our guide highlights the key factors that affect your diamond’s value when selling it online. Keep reading.
1. The 4Cs
The 4Cs stand for color, clarity, carat weight, and cut. These are key factors that you must check whenever you need to sell diamonds online. A comprehensive analysis of the 4Cs helps gauge fair prices. Here is a brief look at the 4Cs and how they determine the value of a diamond.
- Carat weight: The weight of diamonds is measured in carats. If your diamond has a large carat, its value will be high.
- Clarity: The level of clarity in a diamond is determined by its imperfections. If it has many blemishes, its clarity will be low, and its value may also be low. Diamonds with high clarity tend to have the most value.
- Color: The color of Diamonds range from colorless to brown. The more colorless they were, the higher their value.
- Cut: A well-cut diamond has a higher value than a poorly cut one. The well-cut diamond reflects light and appears more beautiful, hence the increased value.
2. Shape
The shape of a diamond has a significant influence on its value. Diamonds usually come in many shapes, although the round shape is the most popular. The popularity of rounded diamonds means their demand is very high; hence, they have a higher perceived value. Other shapes like oval and emerald tend to have a lower demand; therefore, the value is also low because they can stay on the shelves before a customer buys them.
3. The Brand
The perceived value of a diamond can largely depend on its brand. For instance, many people associate highly reputable brands, like Tiffany & Co., with quality. Such brands have been in the industry for a long time, have built a good name, and are known for making exceptional, strong, and beautiful diamonds. If you need to sell a diamond from a reputable brand, its value will be higher compared to one from a lesser-known brand.
4. The Market Demand
The market demand for diamonds varies with time and according to trends. At times, vintage-themed diamonds have a higher end because of a particular trend in the market. In such cases, the value of your vintage diamond can be high because it’s currently in demand.
Before you sell your diamond online, you should examine the market to know what’s in demand and what’s not. That way, you can quickly learn the best time to sell a particular type of diamond to get the most money.
5. Its Current Condition
Is your diamond old with visible signs of wear and tear? If so, its condition will be far from new. Hence, the buyer may pay less for it. Usually, the buyers carefully check a diamond’s condition before buying. If it’s old, it will need some time to be cleaned and its condition restored before it can be sold again. As such, the value will be relatively lower than that of a well-maintained one. If you need your diamond to gain a higher value, clean and polish it to regain its original appeal.
6. Design and Craftsmanship
The value of a diamond isn’t all about its stone or setting but also about its craftsmanship. A well-crafted diamond with attention to detail has a higher design value than a simply made one. The value can even be higher if the design is complex, meaning it’s hard to replicate. If your design is unique and relatively modern, its value will be higher when selling it online.
7. Certification
Certification significantly influences the overall price of diamonds. A certified diamond means a gemological laboratory has tested, evaluated, and even graded it well. The accreditation provides trust and confidence to the buyer that the diamond is of high quality and free from potential fraud and misconception. The most common third-party validation companies that offer the certification include the Gemological Institute of America and the International Gemological Institute.
How to Increase the Value of a Diamond When Selling It Online
Here are helpful practices that can help boost the value of your diamond when selling it online.
- Take high-resolution images of the diamond and send them to the seller. The close-up shots help provide more information on the cut and clarity.
- Get an appraisal and certification from a reputable gemological company
- Provide a proper description of the diamond; include its brand, date of purchase, and other details about it. Be sure to provide accurate information.
- Fix possible damages, and polish it if possible.
- Do market research to know if your diamond brand and style are currently in demand.
Conclusion
The above are the most common factors that affect the value of diamonds when selling them online. From the 4Cs to the certification and diamond design, the buyers consider many things to make an informed decision regarding the price. If you intend to sell your diamond online, follow the tips above to make the most of it. Be sure to find a reputable seller who will buy it fast and at a competitive price.
