How to Resell Your Old Diamonds for Cash?

Introduction

So, are you in need of money and want to resell your loose diamonds to make a quick buck? Or are you just bored of donning the same old diamond and want to trade for some cash? Well, if that's the case, you are at the right place.

Selling anything, let alone something as precious as a diamond is a tricky thing to do. You don't know the current value of your diamond and you can't sell it at the retail price because it is used. What's worse is that your buyer might even fool you to sell it at a price far below its current worth.

“How to resell my diamonds for some quick cash?” is a common yet tricky question. Keep reading to figure it out!

Know the Worth of What You've Got!

It is extremely important to the value of the diamonds you are going to sell so that you don't end up selling them for a worth you might regret later on. A great way to start estimating your diamond's worth is 4Cs.

What is 4Cs?

The 4Cs stand for colour, clarity, carat, and cut. These are the most important features of any diamond while determining its worth.

Talking about the colour, the colourless ones are the rarest, hence, possessing the highest value among diamonds. While the yellowish and brown shades, called the canary and cognac diamonds, have less value than the rarest ones. Other fancy diamonds with colours ranging from pink, blue, etc., possess different values.

A lot of the diamonds' worth also depends on the clarity of the diamond. The fewer the internal flaws (inclusions) and external blemishes, the better the diamond is. The better the diamond is, the more cash you can make by selling it. However, this can only be judged upon proper magnification.

Another equally important C is the carat. Most people are well aware of this parameter. Again, the higher the carat value, the better the resale price.

Finally, comes the cut. A lot of the diamond's value comes from the skilful hands that have cut it and have given it the shape it has currently. The more precise cut will fetch the diamond a higher value. However, a lot of it also depends on the shape of the diamond which is more popular. If you have it, then great. You can make some serious cash selling it.

Do Proper Research about who You are Selling it to?

If it is necessary to know the worth of the diamond, then equally important is to sell it to a legitimate person or shop. Do proper research before selling to any shop or individual. Know who you are selling gia certified diamonds to is that person or shop legitimate and is it offering you the right price? If you have any doubts, then don't sell it! Better late than sorry.

Set the Right Price

Before selling anything anywhere, you need to set a price to it, so that the negotiations can be done. Also, it is very necessary to attract the right buyer. If you set it too high, then no one will be interested in buying it. If you set it too low, then you will be the one suffering from the financial brunt of it. So, be wise, and do proper research by keeping the above points in mind before you go out to resell your loose diamonds.