The Way To Obtain The Best Price For The Diamond
The way to obtain the best price for the diamond is to not be in a rush. First, have the diamond appraised. In fact, have it appraised by two or three jewelers to get an accurate idea of the diamonds value. Tell the appraiser that you want the Rapaport Value. If your diamond has no certificate, you should consider getting a certificate from GIA. This may help you get a better price for the diamond as well.
First, try to sell the diamond yourself, to people you know. Friends and family members may be interested. Absolutely avoid pawn shops! A pawn shop will only offer you about 10% of what the diamond is worth! Also avoid offers of selling the ring on consignment.
If the diamond is important, you should strongly consider auctioning it off through one of the famous auction houses, such as Christie’s or Sotheby’s. If it isn’t what is considered an ‘important’ diamond or a high-end diamond, you should try to sell it to an individual using classified ads, or even eBay. However, selling to an individual that you do not know could put you in danger – especially if the diamond is worth a lot of money.
Your final option should be a jewelry store. It is vital that you not let your diamond out of your sight while in the jewelry store – you might find that the diamond you walked in with is not the same diamond that you walk out with! The jeweler will try to tell you that your diamond is of poor quality or low weight. Inevitably, there will be some problem with the diamond. If the jeweler is fair, they will offer you between 60% and 80% of the value of the Rapaport Value.
Jewelry Appraisals
The whole reason people obtain jewelry appraisals is to document the dollar value of the diamond, whether it is for personal investment purposes, or in order to have a physical record of the gem stone for insurance purposes. It is also great documentation to have if you ever decide to sell your jewelry at a future date, or pass it down to family members.
It is wise to have your existing valuable jewelry appraised in case it is stolen, or in the event you go through a divorce or estate settlement. Before purchasing a new piece of jewelry you can also get it appraised to get a good idea what the market value is on the piece before shelling out large amounts of money to pay for it if it isn’t worth the amount of money they are asking for the piece.
Jewelry lab certificates and appraisals often go hand in hand, but the lab certificate is a document that describes information about an unmounted gem stone, like a diamond that has not been set into any piece of jewelry, while the appraisal provides detailed information on the market value of a piece of jewelry, whether it is unmounted or already set as a ring, earrings, or necklace for example.
When selecting jewelry lab certificates and appraisals on jewelry that you are considering to purchase, it is best to select an independent company that provides these documents rather than rely on the documents created by the company that you are planning to buy your jewelry from.
If you already have jewelry lab certificates and appraisals on your existing jewelry, but are unsure of their accuracy, it may be worthwhile to have your items appraised again to see what their current market value is.