Best Ways to Sell Your Diamonds
With various online companies and selling methods available today in the UK, selling diamonds has never been easier. Nevertheless, not all selling methods are fast, reliable nor will every method ensure you are given the highest possible price for your pre-owned diamonds.
Read this quick guide to find out the best way to sell your diamonds in the UK today.
Where Can I Sell Diamonds Near Me?
There are several diamond selling options available in the UK. You can sell your diamonds to:
- Local jewellers
- Expert diamond buyers like YL Diamonds
- High-street jewellery shops
- Online buyers (through online platforms e.g. eBay)
However, not all of the above selling methods will guarantee your diamonds will be given the right value or price. The first step to selling your diamonds is to first understand how much you think it is worth. This way, you’ll be in a better position to negotiate or spot any buyers who may be cutting the price for their own benefit.
How to Determine the Value of Your Diamond
Before you send your diamond to a potential buyer or visit a shop in-person, you can first better understand your diamond and what it is roughly worth. In the diamond industry, buyers will usually determine the value of a diamond through what is called the ‘4 Cs’. The 4 Cs are a set of criteria which can help give a better picture of the quality of a diamond.
The 4Cs are:
- Cut – How the diamond is cut and its proportions.
- Colour – The whiter a diamond, typically the higher in value. Colours of diamonds are graded D to Z, with D as colourless and Z as a light yellow.
- Clarity – How many blemishes the diamond may have.
- Carat – The weight of the diamond itself.
Using the above criteria can help individuals have a better idea of how much their diamond they’re wanting to sell is worth. However, it is also best to understand the diamond you’re wanting to sell generally too. Where it is from, when it was bought as well as what condition it is in will also determine how much you can sell it for.
What Are the Best Ways to Sell Your Diamonds?
So, by now you should hopefully have a better idea about where you can sell your diamonds and what information you need to know beforehand. However, not all selling options are the best if you want to receive a fast, secure and good price for your diamond jewellery pieces.
Below, we’ve compiled a short list of where you can sell your diamonds and what the pros and cons are to each. This way, you should get a better idea of which way is best for you to sell your diamonds.
- Speedy selling process
- Get instant cash
- Lower price given
- Not trained gemologists
- Diamond experts who can value your diamond properly
- Not widely available in the UK
- Selling process can take several months
- Auction houses take a cut of the price given
- Negotiate the price yourself
- Sell from the comfort of your home
- Sell to anywhere in the UK or elsewhere
- You may not get the best price due to not being an expert in diamonds
- Some platforms take a cut in the sale
- Buyers may not be reliable
- You have to find a buyer and takes time
Expert Diamond Buyers
- The highest possible price will be given
- Trained and experienced diamond buyers
- Secure and fast payment methods
- Sell to them online or in-person
- In-person appointments may be too far for you
- Not all expert diamond buyers provide online selling methods
Generally, expert diamond buyers in the UK are the best place to sell your preloved diamond pieces, whether it be a diamond engagement ring, bracelet or even watch. This way, you’ll be guaranteed the highest possible price for your pre-owned diamond items. What’s more, many today now offer in-person and online selling methods to provide flexibility for customers.