How to Determine the Resale Value of a Diamond
In general, diamonds whose measurements allow them to capture and reflect more light, resulting in greater sparkle, are graded higher on cut. A carat is a unit of measurement equal to 0.2 grams. Bigger diamonds are rarer, and this is why they have a higher value per carat compared with smaller ones. Carat is simply another way to express the weight of a stone. While there are well developed grading systems for the classic round cut, there aren’t such rigorous guidelines for other cuts.
To determine the value of a diamond, first make sure you know how its color, clarity, and cut are graded, condo for sale bangkok 2 million baht as well as how much it weighs. Look for stones of similar carat weight and with the same color, clarity, and cut. Usually, you will get much less for your stone should you decide to resell it. So, to figure out the resale value of your diamond, multiply the average retail price of similar stones by 20%-40% to get an estimate of the amount of money someone would pay to buy the stone. The retail prices of such diamonds will give you an idea of how much your diamond is worth. Retail prices are only part of the story, though, as they are not a reliable indicator of how much you could sell your diamond for.
Many jewelry shops will take your diamond and give you a certain amount of credit that can be used to make a purchase from them. Depending on whom you sell your diamond to, you might get more or less lucrative offers. This means that it is unlikely that a wholesale diamond dealer would pay you more than a retail jeweler, although the latter will not necessarily pay more – you will have to ask around and try different potential buyers. And many jewelers don’t buy diamonds for cash, or if they do, they will usually pay you an amount lower than the store credit they would be willing to give you. As a rule, the further a buyer is from a retail point of sale, the less money you are likely to get.
The reason resale prices for diamonds are so low compared with retail prices is that jewelers buy diamonds in bulk, at wholesale prices, which are much lower. There is no reason for a jeweler to pay the same price for your diamond when such a stone can be bought for much less from a diamond dealer. But how are you supposed to know the quality grades for the color, clarity, and cut of your diamond? The retail price you pay for a diamond at the store is higher because it includes overhead expenses, such as rent and personnel salaries.
Color is a quality characteristic that is graded depending on whether there are any yellow hues present in the diamond that make it look tinted as opposed to colorless. Cut refers to the shape of a diamond’s facets, their arrangement, as well as their number. For brilliant cuts such as the round cut, this characteristic is graded according to how the proportions of a certain diamond enhance its light return and brilliance. Color is also graded on a scale, and the more colorless a stone, the higher its grade.
Where Should I Sell My Diamond? In such a case, our advice is to collect several quotes and compare them because prices offered can vary wildly. You can also check out brick-and-mortar jewelry retailers in your area and show them the diamond you want to sell to get a quote. If you’ve decided that you want to sell your diamond, you can offer it to diamond brokers or to jewelers. Some diamond brokers also operate online. You can also offer your diamond jewelry for sale online – for example, you can send it to Worthy, which is a service that organizes online jewelry auctions, and they will sell your jewelry for you and send you the money when it is sold.
