Can I Sell Loose Diamonds?

By Author: Albert Aharonson
Total Articles: 1
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The diamond industry is quite large, and loose diamonds worth millions of dollars are sold each year. Most of these pieces are sold by large companies in the diamond industry while others are sold by medium collectors and individuals who have loose diamonds.

The size and evolution of the market have made it very easy to sell loose diamonds in varying quantities. There are several avenues for diamond owners to sell their jewelry, there are online stores, auction houses, brick and wall stores, pawnshops, and others.

Thus, it’s easy to sell loose diamonds if you have them in your possession. You can sell your loose diamonds using any of several mediums available to you. However, if you want to sell loose diamonds, make sure you know how much the diamonds are worth, educate yourself about the current market value of the stones, judging from the carat weight, cut, and clarity so you don't end up selling for less than your stones are worth.

If you have loose diamonds, there are several places where you can sell them. However, before you sell loose diamonds, get an expert gemologist to appraise the diamonds, ...
... check for blemishes that may reduce their resale value, and check the carat weight and color. That way you will be able to make an informed choice about the price you want to quote.

Online Buyers

You can sell your loose diamonds to online buyers, selling loose diamonds online may even be more lucrative for you, this is because the running costs of operating a physical store are higher than those of operating an online store. So, because the operating costs are lower, online stores can afford to buy loose diamonds at a higher price, and make less resale profit.

So, if you sell to an online store, you will make more money because they can afford to sell at a lower margin. However, make sure the store is reputable and the jewelers are professionals.

Pawn Shops

It is also very easy to sell loose diamonds to pawn shops near you, pawn shops are always looking to buy loose diamonds. However, pawn shops may not give you the spot price for the diamond. Most pawn shops have to buy for a very low price before they can sell it at a decent profit margin. And some of the staff may not be diamond experts so they may not know the value of the jewelry.

On the flip side, you get paid instantly for your stones and you don't incur the additional stress and cost of shipping the gold jewelry to its destination.

Jewelry Stores

You can also sell your loose diamonds to jewelry stores, although not all jewelry stores buy loose diamonds from individuals. However, you may find some jewelry stores that will buy your loose diamonds. However, they may not always offer you the spot price for your jewelry. They also need to buy it at a lower price so they can sell it and still make enough profits to run their business.

Loose Diamonds - Dianoche