Selling your diamond: 5 realities of the secondary market
The very first step to sell your diamond jewelry is to understand what you have in hand. Diamonds are appraised based on the 4C’s: cut, color, clarity and carat weight. Since this grading system is very well documented over the internet, it’s easy for consumers to find the appropriate information. The issue is that these grading norms can vary widely and that for various reasons:
1- Grading norms vary because they remain subjective. The credibiltiy of the source is therefore extremely important. Grading reports issued by the GIA (Gemological Institute of America) or AGS (American Gem Society) are generally highly considered. The professional diamond buyer will also take the time to do his own inspection. He cannot rely solely on the documents at hand since they need to be taken into account in the context of the credibility of the source. Therefore the diamond jewelry buyer might not agree with your documents.
2- The diamond jewelry buyer will also take into account other elements that don’t necessarily appear on the grading or appraisal report such as the color and impact of fluorescence on the diamond, the type and exact positioning of all the inclusions or whether the stone was appraised set or loose.
3- There is also a tendency for jewelry appraisers and retailers to overstate the grading and the actual market value of diamond jewelry. The diamond jewelry buyer won’t take into account the appraisal value nor the premium paid at retail in order to establish an offer to buy your diamond jewelry.
4- Changes in the industry can also affect the value of the offer to buy your diamond. Present demand might be weaker for a certain type of diamond or a particular cut/quality combination might reduce the value of your diamond.
5- The wear and tear of your diamond jewelry since it was first appraised can also affect it’s value. A diamond might need to be repolished or recut if it was damaged or chipped. The cost of such an operation needs to be taken into account.
Laferriere & Brixi Diamantaires is a trusted and reliable diamond jewelry buyer. If you wish to sell your diamond jewelry, we will take the time to examine your diamond in person and explain our decision process. If we are interested in buying your diamond jewelry, we will make you an immediate offer that you can accept or decline.