How to Sell My Diamond Online

Aug 12, 2020

Diamonds don’t always have to last forever and sometimes we don’t want them too, especially if they are tied to a past situation that we want to leave behind. Getting rid of unwanted jewelry can create a ton of opportunities both financially and emotionally. Before you start the search for “How to Sell my Diamond Online” let’s go over the basics of what you need to know before you sell.

Reasons to Sell a Diamond Online

Oftentimes when people think of selling diamonds or jewelry online they think of financial hardship. While that is one common reason, there are plenty of other reasons why selling your jewelry online can be beneficial. Here are a few popular scenarios on why some people choose to sell their jewelry online:

Create financial possibilities (house, car, home renovation)
Have money for major life events (wedding, childbirth, vacation)
Invest (college, retirement, new business)
Use as emergency collateral (natural disasters, medical emergencies, unexpected lose)
Pay off debt (medical, student loans, credit cards)
Reinvest in new jewelry
Heal emotionally (divorce, ended engagement or relationship)

Understand the Value of your Diamond Before you Sell

One of the most common mistakes individuals make when selling their diamonds online is not understanding the true value of the diamond they have. Not knowing this can be a big let down when it comes to selling, especially if you have a price in mind that doesn’t match the true value of your diamond.

Before selling your diamond, it is smart to have a general idea of how much your diamond is worth. Understanding the value of your diamond can help relieve unrealistic expectations as well as ensure you receive a fair offer for your item. Here are 4 factors to consider when determining the value of your diamond:

Color
Clarity
Cut
Carat

Be Emotionally Ready to sell your Diamond

There’s nothing worse than trying to sell something you’re still attached to. Make sure you are 100% ready to let go before you sell. Since jewelry tends to hold sentimental value for some, the perceived value versus the actual value can be distorted. Being completely detached from your item will allow you to be open to reasonable offers.

Prepare your Diamond for Sale

After you’ve determined an approximate value for your diamond it’s time to prepare it for sale. Just like any other item of value, you will want to make sure your diamond is in sales-worthy shape. Does your diamond jewelry need repair? If so, try taking it to a jewelry repair shop. Is your diamond clean? If not, gently use a soft bristled toothbrush, dish soap, and warm water to clean it. Lastly, you will want to gather any necessary documentation you have about your diamond such as sales receipt, GIA certificate, etc. Taking the necessary steps to prepare your diamond for sale will ensure you receive top dollar for your item.

Explore your Selling Options

Now that you’ve prepared your diamond to sell online, it’s time to decide where exactly you’re going to sell your diamond. While there are many choices to selling online, not all choices provide the same value. Online selling platforms such as eBay, Craigslist, and Offerup will bring you a greater audience to sell to, but it may not offer you the best protection against scams, frauds, and unqualified buyers. Selling to a qualified and trusted diamond buyer seems to be the safest choice when it comes to selling diamonds online. Selling to an experienced diamond buyer will allow you to get the most money for your diamond. For a more in-depth look and breakdown of your selling choices, check out our blog: Where Should I Sell my Jewelry?

Choose a Trustworthy Diamond Buyer

Look at reviews online – are they positive?
Do they have a good Better Business Bureau (BBB) rating?
How long have they been in business?
Are they accredited & insured?
Do they have GIA graduates on staff?