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Selling your diamond: 5 things you should know

Selling Your Diamond: 5 Things You Should Know

The very first step when selling 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, a person in possession of a diamond classification report can easily find the information.

However, the issue is that diamond grading norms can vary widely, and that for various reasons:

1-The source of the evaluation

Grading norms, although determined by commonly accepted criterias, remain subjective. This is why the credibility of the grading source is extremely important when selling a diamond.

Amongst the most reliable sources, a classification report from the GIA (Gemological Institute of America) or the AGS (American Gem Society) are generally highly regarded. A serious diamond buyer will nevertheless take the time to do their own inspection and grading to confirm or establish the diamonds 4Cs.

2- Additional criteria

The diamond jewelry buyer will consider other specific criterias that do not necessarily appear on the grading or appraisal report. For instance, in addition to the cut, color, clarity and carat weight, the buyer’s evaluation may take into account the impact of fluorescence on the appearance of the diamond, the type and exact positioning of all the inclusions, or whether the stone was appraised set or loose.

The price offered for the same stone may therefore vary from one buyer to another in a diamond sales process, since each buyer may evaluate it differently and assign a different level of importance to some characteristics over others..

3- Appraisal for insurance purpose

It is possible, when selling your diamond, to be surprised by a lower offer than the stated value on the Appraisal Report. Differences may be driven by the fact that some retailers have a tendency to overstate the actual market value of diamond jewelry. It’s also possible to find, after careful inspection, that the diamond’s characteristics don’t match that of the Appraisal Report. Market conditions and demand for a specific type of diamond might also have changed.

4- The industry

Changes in the industry can also affect the value of your diamond. Market demand for a certain type of diamond, can increase or decrease over time and affect it’s the price. The diamonds specific form or cut quality can also potentially have an impact on the current value of your diamond.

When wishing to sell your diamond at the best possible price, best to consult with an expert that has an intimate knowledge of the current state of the diamond and jewelry industry.

5- Wear and tear

Your diamond may have signs of wear and tear or have suffered damages since it was first appraised. This often happens when the jewelry is old and was worn for a long time. The diamond buyer will also have to take into account any imperfections to be repaired and/or the associated cost of repolishing or recutting.

In short, a credible and experienced diamond jewelry buyer, such as Laferriere & Brixi Diamantaires, will take the time to examine your diamond in person and explain his decision process. In addition to the characteristics provided in your diamond’s classification report, purchase offers are based on many additional factors. You can consult the experts at Laferriere & Brixi Diamantaires to help uncover any characterics that might contribute to the selling price of your diamond jewellery.

Laferrière & Brixi Diamantaires

St-Lambert | Montreal | New York