What to Look for in a Diamond Buyer Online
Selling diamonds is now easier than ever thanks to online diamond buyers. But, while it is easy to sell your diamonds to buyers online in the UK today, it is extremely important to research sellers beforehand. Not doing so could result in you losing out on money, being subject to inaccurate appraisals as well as becoming a victim of an online scam. Fortunately, however, this guide outlines why it is important to research online diamond buyers beforehand, and what to specifically look for in one.
What Is an Online Diamond Buyer?
You can sell your diamonds in person through a variety of methods, such as pawnshops, auctions, diamond wholesalers and local jewellery stores. But, nowadays people opt for online diamond buyers because they’re convenient and fast. Online diamond buyers are companies or specific websites that specialise in buying diamonds via online transactions. Such companies tend to pride themselves on quick and efficient buying processes.
Those looking to sell their diamonds online, whether that be a wedding ring, earrings, bracelet or perhaps necklace, can do so through various diamond buyers. They typically ask sellers to provide them with general information about the diamond, such as its weight (carat), colour, cut (shape) and overall condition (clarity). Once they have been provided with this general information, online diamond buyers can provide an instant quote. If the seller is happy with this, they can then send the diamond via post and will later receive payment for their diamond item.
Some online diamond buyers will provide a more in-depth service. For instance, YL Diamonds (a diamond wholesaler) will provide an initial quote and then evaluate the diamond in person in detail and provide an updated and approximate quote again. Because online diamond buyers vary in their services and credibility, it is very important to research them before selling your precious diamonds to them to ensure a safe sale.
Why Is It Important to Research an Online Diamond Buyer Before Selling to Them?
There are many reasons why you should research diamond buyers online before sending your pre-loved goods to them. Below, find some of the main reasons why you need to do this.
- Credibility: By researching an online diamond buyer beforehand, you’ll ensure that you’re selling to a credible and legit company. Without doing this, you may fall victim to a fraudulent diamond buyer online. For instance, they may steal your diamond or not pay you the full amount.
- Pricing: Before selling to any diamond buyer, regardless if they operate solely online or not, you must be aware of their valuing process. Any reputable online diamond buyer will do an appraisal of your diamond beforehand to ensure the most approximate price is given. If they do not offer this, it’s best to stay clear as you’ll likely be given an unfair price.
- Safety: As already mentioned in both points above, not researching an online diamond buyer beforehand can result in you falling victim to a scam. It is very important to ensure that both your diamond and personal and financial information are kept safe with the online diamond-buying company. This will ensure your highly-valuable diamond is safe throughout the selling process.
5 Important Factors to Look for in an Online Diamond Buyer
By now, you should hopefully be aware of the consequences of not researching an online diamond buyer before selling to them. But, what exactly should you be looking for in an online diamond buyer? Read on to discover the five key factors to look for in a trusted, reputable and safe online diamond buyer.
1. Accreditations
One of the most important things to look for in an online diamond buyer is their accreditations. Do they have any industry certifications or awards that can demonstrate their credibility? If so, great. If not, it might be best to continue to do your research thoroughly before selling your diamonds to them.
2. Good Reviews
What reviews does the online diamond buyer have? Check their online reviews and ratings to ensure you’re selling to a well-trusted diamond buyer. If their reviews are non-existent or bad, it is probably best to avoid them and look elsewhere.
3. Fully Insured Shipping
Any online diamond buyer that does NOT offer fully insured and secure shipping should be avoided at all costs. Check what their selling process entails, and whether or not they expect you to pay for a fully tracked envelope or if they do.
4. Transparency and Professionalism
How transparent is the online diamond buyer in their selling process? What does their website look like? Do they provide legit contact information? How professional does their website appear? These are all questions you must consider before selling to an online diamond buyer. After all, you should sell to a professional and transparent company.
5. Fair Pricing
The last factor you should research is the online diamond buyer’s pricing. Any reputable company will evaluate your diamond according to industry standards to provide you with an accurate and fair price. Avoid any companies that don’t offer fair pricing.
Pro Tip: Find out the value of your diamond before reaching out to a company. This way, you’ll be aware of its market value and can avoid any lowballing. Don’t know how to value your diamonds? Read our complete guide here.
