Can You Sell Diamonds Online?
Do you have a diamond that you’re considering selling? You can sell your diamonds nowadays online very easily. But, it is important to ensure that when selling your diamond online that it is done safely. Specifically, you must ensure that you are selling your diamonds to an online reputable diamond jeweller – which will also ensure that you are receiving the best offer for your jewellery. Read this blog to find out more about how you can sell your diamonds online.
Where to Sell Diamonds Online?
The best bet for selling your diamonds online is diamond wholesalers. These companies are experienced, and safe and provide a secure selling process. While selling your diamonds online can be done through online marketplaces, this can come with many risks. In contrast, a diamond wholesaler will ensure that your diamonds when sent via post are done securely.
In London, the most reputable diamond wholesalers are located in Hatton Garden – the centre of the diamond trade in the UK.
How to Sell Diamonds Online
Before selling your diamond online, make sure you have a rough idea of how much it could be worth. Read our guide on how to value your diamonds here.
Most reputable diamond dealers online will offer to buy your diamond once they have evaluated it in person. First, you’ll need to sign up on their website, followed by providing them with as much information regarding your diamond jewellery – whether that be a diamond ring, diamond necklace or bracelet perhaps! Some diamond dealers will evaluate your diamond solely online, but it is best to go for one that will ask you to ship it (in a fully insured and secure envelope) before they provide you with a final offer.
Once they have evaluated your diamond jewellery, they will then provide you with the most accurate price. You can then accept this, before being sent your money via bank transfer!
Why Sell Diamonds Online?
Selling your diamonds, whether that be online or in person, is a big decision to make. Many people choose to sell their diamonds either due to emotional or financial reasons. Meanwhile, some people often avoid selling their diamonds – whether that be because they fear being undervalued, cannot let go of their sentimental piece or because they don’t know where to sell to.
But, selling your diamonds online can make this process much more straightforward for you. Here are some reasons why you should sell your diamond online:
- Time: You won’t have to commute into town to sell your diamond, as it can all be done easily from home. Moreover, you will avoid spending time trying to find the best shop to sell to.
- Money: Not everyone lives near London (the hub for selling diamonds) nor does everyone have access to a nearby town to sell their diamonds. You’ll save on travel costs by selling your diamonds online!
- Convenience: Selling diamonds online means people can sell from the comfort of their own homes. It also means they will receive their money quickly, with no need to visit the store for cash.
What Do I Need to Prepare to Sell Diamonds Online?
Each retailer will have their own specific requirements, however, more commonly than not it is required to have the diamond certificate alongside clear images of the diamond to send. They might also request that you send the diamond to their location (free of charge) so that the diamond can be professionally evaluated (known as a diamond appraisal).
What Is a Diamond Appraisal?
A diamond appraisal is when a diamond is looked at by a professional diamond evaluator, who will look at the 4 C’s (cut, colour, clarity and carat weight) before giving the piece a documented grade. A perfect diamond will be graded as ‘Flawless’ (FL) in clarity and ‘Colourless’ or ‘D’ grade for colour.
How Much Can I Sell My Diamond For?
Each diamond is unique and will have differing values, however, there are some key factors that make diamonds more valuable than others. For example, an extremely rare diamond will be the colour red or any other colour that is not clear. Nevertheless, a flawless or colourless and clear diamond is also very rare and valuable. Some other considerations that increase the value of a diamond are cut, with the round brilliant being the most expensive type as it removes about 60% of the rough stone around the diamond. Lastly, a diamond that is in pristine condition will also value at a higher price than those with impurities or damage, including chips.
Can I Sell a Chipped Diamond?
Yes, there are plenty of diamond retailers who will be willing to make an offer on a chipped diamond. Usually, they will send your diamond to be appraised by a professional gemologist or use one of their experienced staff to check the damage before giving a quote. It is important to note that a chipped diamond can not be repaired and therefore will lose much of its original value.
How to Look for a Reputable Online Diamond Retailer
To find a reputable diamond retailer, you should first ensure that the online website can be traced back to a physical stress address where the jewellery store is located. In addition, you can check reviews and contact them directly first, so that you know the staff are experienced with strong expertise. Lastly, you should ensure that the diamond retailer specialises in diamonds specifically and has a creditable background in the industry.