Mistakes To Avoid When Selling Your Diamonds
Selling your diamonds can seem a daunting task. Many people want to part ways with their diamond jewellery quickly either because of a relationship breakdown, to upgrade their current jewellery set or to access cash quickly. As a result, people often make mistakes when selling their pre-loved diamond jewellery. But, fear not. This guide outlines how you can avoid any mistakes when selling your diamonds in the UK.
5 Major Mistakes to Avoid When Selling Diamonds
Every diamond is unique and has its own story. Because of this, it is important to avoid any common mistakes when parting ways with one. Whether you are looking to sell a diamond engagement ring, pendant necklace or perhaps diamond earrings, here are five mistakes you MUST avoid.
1. Not Knowing Your Diamond’s Worth
First and foremost, you must know your diamond’s worth before selling it. Doing so will ensure you are given the fairest price for your loved item and not subject to any tactful buyers. Going into a diamond sale with no knowledge of your diamond is never a good idea.
You can get a general idea of your diamond’s worth by assessing it according to The Four Cs (a set of criteria used globally by diamond experts). The four cs are as follows:
- Cut: This refers to how the diamond shape is cut. A diamond can come in different shapes, from ovals to squares. It also refers to how well the diamond is cut and how it subsequently reflects light.
- Clarity: This evaluates whether the diamond has any blemishes or internal flaws. Essentially, its condition.
- Colour: The more colourless a diamond, the higher in value. But, keep in mind some rare and highly valuable diamonds come in colours, such as red.
- Carat: This means the weight of the diamond itself. The more a diamond weighs, the more valuable it will be.
Potential sellers should also understand the market trends for their specific diamonds. For instance, the classic oval diamond often used for wedding rings has a high re-sale price. Likewise, visiting a regulated and professional diamond buyer for a free appraisal is also advised. You can find out more about how to value a diamond by visiting our dedicated page.
2. Not Researching Selling Options
Where you sell your diamonds will determine the price you are given. Regardless if you want to get cash for your diamonds quickly, it is important to research the many selling options available. The best way to sell your diamonds is to a diamond expert buyer – they are the most equipped in giving customers the most accurate price for their pre-loved goods.
Read our guide on the Best Ways to Sell Your Diamonds to see where you should be selling your jewellery in the UK today.
3. Not Paying for Insured Shipping
Another major mistake people make when selling their diamonds is not opting for insured shipping. Not doing so could result in you losing your diamonds, and therefore, hundreds if not thousands of pounds. Before selling to a diamond buyer via post, ensure that they provide tracking in their shipping. For example, YL Diamonds provides all customers with a pre-paid Royal Mail envelope that provides full insurance if, in the rare event, a package goes missing.
4. Selling a Diamond Without an Appraisal
You can get your diamond evaluated for free by many diamond experts in London or nearby. This will mean your diamond is given an approximate value. If you don’t do this, it could result in you losing out on lots of money.
5. Using Online Platforms
Online platforms, whether it be eBay or Facebook Marketplace, are great ways for people to sell their diamonds from the comfort of their own homes. However, many people that sell their pre-owned diamonds will not have the knowledge or expertise to sell their diamonds for the best price.
What’s more, selling your diamonds alone could take you longer and even cost more. For instance, before you even secure a legit sale you may encounter many fraudsters. Likewise, when you eventually sell your diamond you’ll need to pay for fully insured postage. Customers could even try and rip you off once they receive the diamond!
All in all, it is best to avoid this selling method. Instead, opting for a diamond wholesaler will ensure you’re given the highest and most accurate price, as well as the fastest and easiest diamond-selling experience.