Diamonds are extremely costly stones. But can you get the same amount when you sell them? The answer is a straight no! The value of diamonds will depreciate tremendously over time. In fact, the price of these stones can reduce to about 30% of their original cost when you walk out of the store after buying your diamonds. So if you are planning to buy diamonds as an investment, then it might not be a good idea unless you are planning to get a rare diamond.
When selling diamonds, it is important for you to know your options and the amount you can get. Therefore, we list some of the important factors you have to know when selling diamond rings or any other pieces of diamond jewelry.
Where To Sell Your Diamonds?
You can get different options when selling your diamonds. They include:
- Your local retailers or some chain stores
- Online jewelers
- Diamond and gold exchange
- Directly to buyers
Compare your options and choose the best one that can give your better profit. Also, if you have lab grown diamonds, not all jewelers accept them. Therefore, you will have to find a jeweler who sells and buys lab grown diamonds.
Why Do The Value Of Diamonds Depreciate?
Natural diamonds travel through a long marketing chain before they reach you. Hence, their price can be high. Additionally, when you are buying diamond jewelry, a lot of additional costs will be associated with it including taxes, making charges, etc. But when you sell your jewelry, these additional charges won’t be returned.
Also, a jeweler can get new diamonds for cheaper rates than the current market value when they buy these stones from a wholesaler. Therefore, they won’t pay a higher cost for your old stones unless it is rare.
Factors That Influence The Resale Value Of Diamonds
The resale value you get for your diamonds can be dependent on their quality and size. Diamonds with higher carat weights and better quality can be sold for a good price. However, smaller or lower-quality diamonds will not get a higher price.
Also, if you have some rare diamonds, like a rare colored diamond, they can get a better resale value. Additionally, if you are selling a mounted diamond, then its value can be dependent on the metal, the design of the jewelry, etc.
Hence, when selling your diamonds or diamond jewelry, be mindful of these factors to get better value and price for them.