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How to sell diamonds



Selling diamonds the easy way - here is how:


You want to sell diamond jewelry or loose diamonds? We can help you out. Selling diamonds successfully depends a great deal on how you go about it. There are different ways to turn your diamond jewelry into cash, however, the best strategy is determined by what you want to sell and how fast you want to sell. At the end of the day the price the diamond decides everything. That´s why it is a big advantage to understand how diamond prices work and what influences the price when selling jewelry.

1. Selling diamonds and jewelry to us

2. Find a private individual to buy your diamond ring

3. Sell diamonds on the diamond exchange

4. What influences diamond prices?




How do I yield the highest price for my old jewelry?


The right strategy for selling diamond jewelry makes the difference. What is true for selling in general is also true for selling diamonds: The more time you have to find the right buyer, the higher the price that you can ask for. Compare selling diamonds to selling a house: If you want to sell a building it takes time to advertise and find the right party that wants to buy for the right price at the right time (when you have decided to sell). If you have a time limit of a few months, the price will be different than if you have to sell within only one week. The number of potential buyers that are willing and able to put the money on the table automatically get smaller. The same goes for selling jewelry. The more time you have, the better your knowledge of the current market value.








1. Sell diamonds or jewelry to us


We buy diamonds in different qualities and sizes. We buy a certified one carat diamond just like a round brilliant without certification. We buy diamonds based on current diamond prices at the diamond exchange and will always make an offer for your jewelry. Our expertise in diamonds and jewelry allows us to accurately determine the quality of your stones. The selling process is transparent and fair. We believe that the basis for selling jewelry is knowing what you have. Even if you have not yet made up your mind whether or not you want to sell - we will have a look at your jewelry or diamond and share our expert opinion with you.  As such, we also buy or give value estimations for entire estates for private individuals or notary offices to support a fair distribution of an inheritance.


2. Selling jewelry to a private individual


When selling jewelry to the commercial trade, that is, a jeweller or auction house for instance, the buyer will not be pay you the VAT. In contrast to that you cans ask for this additional percentage or premium when selling your diamond jewelry to a private person. She would not be able to buy anything without paying the VAT anyways. That means, you compete with retail stores that will always ask for the VAT in addition to their own profit margin. A common issue, however, is the lack of an invoice to proof the authenticy of the diamond or jewelry. This is often the case when the jewelry was inherited or came as a gift. Here we can also help you out with an expertise or value appraisal that works then as your selling tool. Feel free to ask our opinion without any charges or costs. In case you need something in writing to support your sale to a private individual you can use our appraisal service for a quality and value assessment. Read more




3. Sell diamonds on the diamond exchange

We offer our clients the option to sell diamonds on commission basis into the international diamond market. Due to our access to the trade we buy and sell diamonds worldwide. The more people are there to buy, more transparent and fair will be the pricing. In addition, by targeting the demand worldwide you increase the chance the sell your diamonds. Certified diamonds are comparable according to the quality parameters in the certificate and therefore tradable without having to see them upfront.

Did you inherit diamond jewelry or you own an old diamond ring that you do not wear anymore? We can do the handling for you in order to issue a certificate by GIA, IGI or HRD. For our commission based sales we charge 6% (plus VAT and expenses). This option makes sense for diamonds that are valued 10,000 EUR and above.

1. Diamond checking (in our office)
2. Find a buy in the trade
3. Handling and delivery



4. What influences diamond prices?

The main concern when buying diamonds is always the re-sale value. But as such the benchmark is not always it´s wholesale price. Instead the re-sale value also takes into consideration the fungibility - how fast can something be interchanged in money. How fast a purchased diamond or diamond ring can be sold again depends on different factors:


Selling Jewelry


Type

Not every expensive diamond ring will yield a high price when being sold. Next to the VAT and a jeweller´s profit margin in varying amounts there are different factors that do play a significant role.
Is the tennis bracelet in its classic and timeless design easy to be resold? That is rather likely. How about the customized engagement ring for which the gold smith had to invest countless hours to produce the one sketch after the other and changed the end product one more time to fine tune it according to the customer´s wishes? The individual design might be unique, however, the chances of finding someone that has the exact same taste, need (getting married) and ring size requirement is rather difficult. All this given, the timing has to right that no other alternative is found beforehand. All these things make re-selling a challenge. And the brooch of my grandma - shiny and set with many Old European Cut diamonds? Are these pieces of jewelry - rare as they may be - still being worn today? Next to the cost of the precious materials like gold and diamonds the labour expenses for the goldsmith, jewelry designer, diamond setter, brand image and/or jeweller were included ino the price for the piece of jewelry.


Design

For signed and branded jewelry items there is usually a premium to be paid. Especially if you still have the invoice and/or certificate of the brand. Shop rent in prime locations, heavy marketing campaigns and advertisment to create the brand image are all priced in such pieces of jewelry. That is how big differences in the mere value of the used material and replacement value come into being. However, if you have bills and paperwork those can be used as a handy tool for reselling the jewelry as they allow to ask for higher prices.


Fashion

Fashion trends also apply to jewelry. Design and taste from the 50s or 60s are no longer en vogue today. A good example are Milanaise (carpet) bracelets. At the same time there is a niche for antique jewelry (art deco for instance) for which there is a separate market next to the mainstream jewelry trends.

Condition

Is your diamond ring in a used, yet,  in mint condition? Or does the bracelet need repair and repolishing and one first has to invest in it by having a goldsmith recondition it before it can actually be sold? In these cases usually you would yield simply the material value of the item - otherwise you would buy more work than you can earn from reselling it. Any jeweller that buys from private individuals will have to calculate into the buying price the costs of re-polishing, a new rhodium plating or getting rid flaws and defects. The same goes for a gold necklace if one or more chain links are worn out and need replacement.


Ring Size

In Europe and Germany ring sizes 54 to 56 represent about 60% of all womens´ring sizes. If the ring to be sold is far off the standard - either really big or really small - it may need to be priced in the purchasing price because it is likely that upon reselling the size will have to be adjusted. For solitaire rings changes in size usually don´t present a challenge. If the ring has side stones those might have to be re-set properly when changing the ring setting´s size. Ring size does, however, represent a major issue when it comes to memory rings.

Memory Rings

Eternity rings are often beautiful and timeless pieces of jewelry for which there is a steady demand. Yet, it is almost impossible to change their ring size due to their shape - all diamonds would have to be taken out of their place, the setting itself re-arranged and the stones (if size-wise possible) set once again to assemble the ring. The cost of labor and expenses (for example add exactly one more stone of the same shape, size and quality) make it nearly impossible: The price of adjusting the ring might even get close to or equal to a new memory ring. Most rings in this design are exactly measured and the ring size is double checked before an order is placed.

Value Appraisal

Getting a quality assessment or value appraisal for your jewelry or diamonds is helpful if you need documents for your insurance, diving an estate or dealing with inheritance tax, also, in order to simply know how much a comparable piece of jewelry would cost in retail shops at the time being. For purposes of selling jewelry, however, an appraisal might not be the ideal orientation price-wise. Everyone will only bid for their own money: Any expert value appraisal usually comes at a charge, yet, it is not an offer to buy at that price. It is important to stress that the price you can actually yield at the time you want to sell the diamond - the market price - is much more relevant than what its replacement or insurance value determine. In other words, for selling jewelry having a number of real buying offers that come for free might be worth more than a value appraisal that you have to pay for.



Selling Diamonds


Certificate

As mentioned above it is always of advantage to own a certificate for signed or branded jewelry. Such a quality assurance serves as a tool for reselling second hand diamond rings or other items. Nowadays both private individuals and jewellers alike buy diamonds according to certificate and price. The standardization of the grading standards in 2006 and common nomenclature that allows for comparison in quality made the long distance and online trading possible in the first place. The buyer knows exactly what he buys without seeing the stone. Important fact: International certificates by GIA, IGI or HRD are acknowledged and accepted everywhere in the world. Having a local jeweller or expert issue a diamond certificate may state the same facts as any of the well-known international institutes. However, since buyers in the international trade probably won´t know a local expert or insitute, such a quality assessment (as accurate as it may be) is of little use if you plan on selling your stone in the global diamond market.


Loose Diamonds

There is certainly one advantage when it comes to loose diamonds that are not set in a ring or piece of jewelry: You can simply put them on a carat scale and measure their exact weight. You don´t have to estimate their weight according to their measurements. The weight of loose diamonds is easy to calculate using a mathematical formula - in fact, this method even allows for verifying that you have a real diamond and helps sort out diamond imitations. As a matter of fact all diamond weight estimations of diamonds in jewelry are inaccurate because they use the diameter to calculate carat weight. However, this disregards the most important of the 4C - a diamond´s cut. Just one example: A round brilliant of 1.00 ct can have a diameter of 5.6 to 6.9 mm. The quality of the stone is depending on the quality of the cut.


Diamonds in Jewelry

Carat weight is usually estimated when diamonds are set in jewelry and there is no certificate for the item. This value must be an estimation only as the girdle (the diamond belt) is used as the measuring benchmark. What matter for selling jewelry in Germany is definitely a tax privilege that does apply for jewelry but not for loose diamonds. VAT for second hand trading does not have to be paid on the full amount, but rather on the difference between the buying and selling price. This gives second hand items another advantage in price. However, this only applies to diamonds set in jewelry - not for loose diamonds.


Fluorescence

Diamonds with strong or very strong fluorescence are traded at a discount in the international diamond market. Everything you need to know about diamond fluorescence you find out here.


Old European Cut

The term Old European Cut refers to round diamond that were cut with old polishing techniques before today´s standards. The modern round brilliant cut is optimized for brilliance and has strickt proportions, angles and a fixed assembly of the facets. In contrast to these standardized parameters the Old European Cut has it´s own distinct features that make it easy to recognize: Large facets, small tables, a girdle that looks a little bit like a square with rounded corners and especially relatively large culets are characteristic traits of this older cutting style. As a matter of fact there are very beautiful Old European Cut diamonds with a lot of fire but less brilliance than modern round brilliant cuts. When buying such diamonds one needs to assess if the cut needs modernization, that is, having a diamond cutter polish it again according to the modern standard or if the piece of jewelry can be sold as it is labelling it "antique". Depending on the quality of the Old European Cut diamond the modernization process can cost between 15% and 50% of its carat weight. This is what makes it difficult to estimate without louping the diamond first hand.

  

Fantasy Cuts

Diamonds other than the classic round brilliant cut are also called by the general term fantasy cut diamonds: Baguette- or emerald cut, oval or heart form, marquise/navette, princess cuts, etc. Interesting fact: About 85% of all diamonds are cut round. A diamond cutter usually opts for most fancy cuts only if the rough diamond´s shape (for example being very shallow or too long, maybe having inclusions in rather unlucky positions) demands an alternative form other than round in order to optimize the use of the given material.