6 Reasons Why You Shouldn’t Sell Your Diamond Ring
Are you thinking about selling your diamond ring to make some money? Chances are you have been doing a bunch of research, like asking friends who have done the same, talking to a jeweler, and looking around the internet for tips. Let me tell you one simple rule before you read any further: do not sell the diamond right now unless you absolutely must. The rule of thumb in diamond investments is that the longer you wait, the more resale value that your diamond will have.
Have you decided to sell your diamond ring? Well, you may be overwhelmed about variables like diamond cost, whether it is a GIA diamond, where you should be selling it, and who would do the selling. Frankly, you should really be asking yourself if you really need to sell your diamond ring at all. Let us ask you 5 questions that will show you why you should not sell your diamond ring. If you feel comfortable with all 5 answers, then go ahead! Remember, selling diamonds is nothing like buying them, it is trickier and the margins are not necessarily good. You will need a professional for this.
1. Where would you be selling it?
Selling a diamond ring can happen only in one of two ways – either you can get it evaluated by a professional, or by the GIA, and sell it directly to an end consumer for the price that you were quoted, or you can try to sell the diamond to a dealer. If you are more interested in selling the diamond to a dealer, you will need to be ready to accept less money than what you were quoted. This is because dealers usually do not own their diamonds, but are selling stock that belongs to someone else, which eliminates risk for them entirely and maximizes their gains. If you sell to a dealer and they buy it from you (do not leave a dealer with the promise of money unless you REALLY trust them), they will still be looking to minimize risk and you will only get an offer of the exact market value of the diamond and nothing more. They will not pay you the retail value. That being said, if you really need the money immediately, this still may be worthwhile to you. If you sell your diamond ring directly to an end consumer through your own methods like eBay, Craigslist, or some other means, the customer will be easily able to compare your ring to thousands of others online and the bargaining power will be in their hands. Therefore, be prepared to still not get the price that you feel that you deserve.
2. Who would be doing the selling?
If you are going to sell the diamond ring, you will need to decide whether it will be you selling it, a dealer on your behalf, or if you will sell by another means. For big and impressive diamonds, such as large Fancy Vivid Blue diamonds, or impressive Fancy Vivid Pink diamonds, you would have many more buyers interested and you would be able to use even more channels to sell. For example, you would be able to sell your diamond through an auction house like Sotheby’s or Christie’s. However, if you have an ordinary smaller sized colorless diamond, be prepared to have less demand for your diamond and fewer interested buyers in it for the price that you will want.
The Oppenheimer Blue, a 14.62 carat Fancy Vivid Blue diamond and the largest blue diamond to ever appear at auction
Image credit: Christie’s
3. How do you know how much its worth?
How are you really going to know how much to ask for your diamond? If it is a fancy color diamond, you will need to consult with fancy color diamond evaluation experts, such as us at DICE or another jeweler who truly knows the nuances. If it is a colorless diamond that you are looking to sell, you will need to consult with someone who has access to something called the RapList, a list where diamond value is charted depending on its 4 C’s. Access to that list is by paid membership (and the list is very recognizable by its firetruck red color) so make sure that is where your quoted price comes from. If you are looking for the diamond’s true and objective value, you would do best to send your diamond (via a trusted diamond dealer) to the GIA for an evaluation of its 4 C’s, only after which you ask a diamond expert to tell you the diamond cost. That way, you can compare the answers of different diamond dealers and make sure that your information is trustworthy.
4. Does it have a GIA certificate?
The Gemological Institute of America is the most credible source in the world for the evaluation of diamonds. If you are seriously interested in selling your diamond, get a GIA certificate for it that states its 4 C’s, because GIA diamonds sell more frequently and for higher prices than non GIA diamonds. In fact, there are some dealers who exclusively sell GIA diamonds just for this reason, since they know that they sell for better prices than the diamonds that are not GIA diamonds.
An example of an authentic GIA certificate
5. Are you sure you need to sell right now?
The rule of thumb is to wait to sell a fancy color diamond at least 5 years at the bare minimum if you would like to see a positive return, but waiting 20 years will yield far more money. Therefore, knowing this factor of time, the decision to sell sooner than 20 years is purely emotional. You know that you want to time your sale to monetize the diamond’s value growth, but no one can really predict the market or the value of diamonds. Just last week, the incredible Shirley Temple Blue diamond, one that experts were sure would sell for a record breaking price when it went up for auction, did not even sell at all.
The Shirley Temple Blue diamond, a 9.54 carat Fancy Deep Blue VVS2 diamond
Image credit: Sotheby’s
In any case, all diamond dealers will tell you that a colorless diamond is not an investment and will barely increase in value over time. If you got a diamond engagement ring 5 years ago, it probably barely increased in value. However, if it was a fancy color diamond engagement ring, there is a good chance that its value somewhat increased.
6. Is it a fancy color diamond or a colorless diamond?
Fancy color diamond prices are not going down, as they are rare and in high demand. However, colorless diamonds recently saw a huge drop in value in the market due to a significantly lower demand since the market crash of 2008. The wave of big ticket fancy color diamonds that are currently being sold were bought in the last 10-20 years since the value of most colors has increased substantially. Those who are buying now are going to do the same and wait until their diamond colors undergo the next wave up so that those diamonds will get an acceptable rate of return as well. Those waves also increase the value of fancy color diamonds that would not be auction worthy but are still valuable. However, that wave is only every few years – how will you know if it is the right time to buy? Contact us at info@investments.diamonds or call us 1-844-DICE-923 and we will answer all of your questions for free.
As you have now read, selling a diamond is significantly more complicated than just buying one. There are tons of factors to consider, such as where to sell a diamond ring, the diamond cost, the diamond value, who would sell the diamond, and who to trust. It is hard to trust a stranger with something as valuable as a diamond. If you are looking to sell your diamond, give us a phone call and speak to one of our investment professionals. You will see without a doubt our integrity and honesty, and our desire to get you the best price possible. We offer services of disposition and acquisition because we have spent years cultivating our relationship with dealers of every kind of diamond, and we will be able to tell you for certain whether to sell or to wait. Diamonds are always a good investment when you get the right advice, and diamond investment advice is our expertise!
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6 Reasons Why You Shouldn’t Sell Your Diamond Ring
Are you thinking about selling your diamond ring to make some money? Chances are you have been doing a bunch of research, like asking friends who have done the same, talking to a jeweler, and looking around the internet for tips. Let me tell you one simple rule before you read any further: do not sell the diamond right now unless you absolutely must. The rule of thumb in diamond investments is that the longer you wait, the more resale value that your diamond will have.
Have you decided to sell your diamond ring? Well, you may be overwhelmed about variables like diamond cost, whether it is a GIA diamond, where you should be selling it, and who would do the selling. Frankly, you should really be asking yourself if you really need to sell your diamond ring at all. Let us ask you 5 questions that will show you why you should not sell your diamond ring. If you feel comfortable with all 5 answers, then go ahead! Remember, selling diamonds is nothing like buying them, it is trickier and the margins are not necessarily good. You will need a professional for this.
1. Where would you be selling it?
Selling a diamond ring can happen only in one of two ways – either you can get it evaluated by a professional, or by the GIA, and sell it directly to an end consumer for the price that you were quoted, or you can try to sell the diamond to a dealer. If you are more interested in selling the diamond to a dealer, you will need to be ready to accept less money than what you were quoted. This is because dealers usually do not own their diamonds, but are selling stock that belongs to someone else, which eliminates risk for them entirely and maximizes their gains. If you sell to a dealer and they buy it from you (do not leave a dealer with the promise of money unless you REALLY trust them), they will still be looking to minimize risk and you will only get an offer of the exact market value of the diamond and nothing more. They will not pay you the retail value. That being said, if you really need the money immediately, this still may be worthwhile to you. If you sell your diamond ring directly to an end consumer through your own methods like eBay, Craigslist, or some other means, the customer will be easily able to compare your ring to thousands of others online and the bargaining power will be in their hands. Therefore, be prepared to still not get the price that you feel that you deserve.
2. Who would be doing the selling?
If you are going to sell the diamond ring, you will need to decide whether it will be you selling it, a dealer on your behalf, or if you will sell by another means. For big and impressive diamonds, such as large Fancy Vivid Blue diamonds, or impressive Fancy Vivid Pink diamonds, you would have many more buyers interested and you would be able to use even more channels to sell. For example, you would be able to sell your diamond through an auction house like Sotheby’s or Christie’s. However, if you have an ordinary smaller sized colorless diamond, be prepared to have less demand for your diamond and fewer interested buyers in it for the price that you will want.
The Oppenheimer Blue, a 14.62 carat Fancy Vivid Blue diamond and the largest blue diamond to ever appear at auction
Image credit: Christie’s
3. How do you know how much its worth?
How are you really going to know how much to ask for your diamond? If it is a fancy color diamond, you will need to consult with fancy color diamond evaluation experts, such as us at DICE or another jeweler who truly knows the nuances. If it is a colorless diamond that you are looking to sell, you will need to consult with someone who has access to something called the RapList, a list where diamond value is charted depending on its 4 C’s. Access to that list is by paid membership (and the list is very recognizable by its firetruck red color) so make sure that is where your quoted price comes from. If you are looking for the diamond’s true and objective value, you would do best to send your diamond (via a trusted diamond dealer) to the GIA for an evaluation of its 4 C’s, only after which you ask a diamond expert to tell you the diamond cost. That way, you can compare the answers of different diamond dealers and make sure that your information is trustworthy.
4. Does it have a GIA certificate?
The Gemological Institute of America is the most credible source in the world for the evaluation of diamonds. If you are seriously interested in selling your diamond, get a GIA certificate for it that states its 4 C’s, because GIA diamonds sell more frequently and for higher prices than non GIA diamonds. In fact, there are some dealers who exclusively sell GIA diamonds just for this reason, since they know that they sell for better prices than the diamonds that are not GIA diamonds.
An example of an authentic GIA certificate
5. Are you sure you need to sell right now?
The rule of thumb is to wait to sell a fancy color diamond at least 5 years at the bare minimum if you would like to see a positive return, but waiting 20 years will yield far more money. Therefore, knowing this factor of time, the decision to sell sooner than 20 years is purely emotional. You know that you want to time your sale to monetize the diamond’s value growth, but no one can really predict the market or the value of diamonds. Just last week, the incredible Shirley Temple Blue diamond, one that experts were sure would sell for a record breaking price when it went up for auction, did not even sell at all.
The Shirley Temple Blue diamond, a 9.54 carat Fancy Deep Blue VVS2 diamond
Image credit: Sotheby’s
In any case, all diamond dealers will tell you that a colorless diamond is not an investment and will barely increase in value over time. If you got a diamond engagement ring 5 years ago, it probably barely increased in value. However, if it was a fancy color diamond engagement ring, there is a good chance that its value somewhat increased.
6. Is it a fancy color diamond or a colorless diamond?
Fancy color diamond prices are not going down, as they are rare and in high demand. However, colorless diamonds recently saw a huge drop in value in the market due to a significantly lower demand since the market crash of 2008. The wave of big ticket fancy color diamonds that are currently being sold were bought in the last 10-20 years since the value of most colors has increased substantially. Those who are buying now are going to do the same and wait until their diamond colors undergo the next wave up so that those diamonds will get an acceptable rate of return as well. Those waves also increase the value of fancy color diamonds that would not be auction worthy but are still valuable. However, that wave is only every few years – how will you know if it is the right time to buy? Contact us at info@investments.diamonds or call us 1-844-DICE-923 and we will answer all of your questions for free.
As you have now read, selling a diamond is significantly more complicated than just buying one. There are tons of factors to consider, such as where to sell a diamond ring, the diamond cost, the diamond value, who would sell the diamond, and who to trust. It is hard to trust a stranger with something as valuable as a diamond. If you are looking to sell your diamond, give us a phone call and speak to one of our investment professionals. You will see without a doubt our integrity and honesty, and our desire to get you the best price possible. We offer services of disposition and acquisition because we have spent years cultivating our relationship with dealers of every kind of diamond, and we will be able to tell you for certain whether to sell or to wait. Diamonds are always a good investment when you get the right advice, and diamond investment advice is our expertise!
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6 Reasons Why You Shouldn’t Sell Your Diamond Ring
Are you thinking about selling your diamond ring to make some money? Chances are you have been doing a bunch of research, like asking friends who have done the same, talking to a jeweler, and looking around the internet for tips. Let me tell you one simple rule before you read any further: do not sell the diamond right now unless you absolutely must. The rule of thumb in diamond investments is that the longer you wait, the more resale value that your diamond will have.
Have you decided to sell your diamond ring? Well, you may be overwhelmed about variables like diamond cost, whether it is a GIA diamond, where you should be selling it, and who would do the selling. Frankly, you should really be asking yourself if you really need to sell your diamond ring at all. Let us ask you 5 questions that will show you why you should not sell your diamond ring. If you feel comfortable with all 5 answers, then go ahead! Remember, selling diamonds is nothing like buying them, it is trickier and the margins are not necessarily good. You will need a professional for this.
1. Where would you be selling it?
Selling a diamond ring can happen only in one of two ways – either you can get it evaluated by a professional, or by the GIA, and sell it directly to an end consumer for the price that you were quoted, or you can try to sell the diamond to a dealer. If you are more interested in selling the diamond to a dealer, you will need to be ready to accept less money than what you were quoted. This is because dealers usually do not own their diamonds, but are selling stock that belongs to someone else, which eliminates risk for them entirely and maximizes their gains. If you sell to a dealer and they buy it from you (do not leave a dealer with the promise of money unless you REALLY trust them), they will still be looking to minimize risk and you will only get an offer of the exact market value of the diamond and nothing more. They will not pay you the retail value. That being said, if you really need the money immediately, this still may be worthwhile to you. If you sell your diamond ring directly to an end consumer through your own methods like eBay, Craigslist, or some other means, the customer will be easily able to compare your ring to thousands of others online and the bargaining power will be in their hands. Therefore, be prepared to still not get the price that you feel that you deserve.
2. Who would be doing the selling?
If you are going to sell the diamond ring, you will need to decide whether it will be you selling it, a dealer on your behalf, or if you will sell by another means. For big and impressive diamonds, such as large Fancy Vivid Blue diamonds, or impressive Fancy Vivid Pink diamonds, you would have many more buyers interested and you would be able to use even more channels to sell. For example, you would be able to sell your diamond through an auction house like Sotheby’s or Christie’s. However, if you have an ordinary smaller sized colorless diamond, be prepared to have less demand for your diamond and fewer interested buyers in it for the price that you will want.
The Oppenheimer Blue, a 14.62 carat Fancy Vivid Blue diamond and the largest blue diamond to ever appear at auction
Image credit: Christie’s
3. How do you know how much its worth?
How are you really going to know how much to ask for your diamond? If it is a fancy color diamond, you will need to consult with fancy color diamond evaluation experts, such as us at DICE or another jeweler who truly knows the nuances. If it is a colorless diamond that you are looking to sell, you will need to consult with someone who has access to something called the RapList, a list where diamond value is charted depending on its 4 C’s. Access to that list is by paid membership (and the list is very recognizable by its firetruck red color) so make sure that is where your quoted price comes from. If you are looking for the diamond’s true and objective value, you would do best to send your diamond (via a trusted diamond dealer) to the GIA for an evaluation of its 4 C’s, only after which you ask a diamond expert to tell you the diamond cost. That way, you can compare the answers of different diamond dealers and make sure that your information is trustworthy.
4. Does it have a GIA certificate?
The Gemological Institute of America is the most credible source in the world for the evaluation of diamonds. If you are seriously interested in selling your diamond, get a GIA certificate for it that states its 4 C’s, because GIA diamonds sell more frequently and for higher prices than non GIA diamonds. In fact, there are some dealers who exclusively sell GIA diamonds just for this reason, since they know that they sell for better prices than the diamonds that are not GIA diamonds.
An example of an authentic GIA certificate
5. Are you sure you need to sell right now?
The rule of thumb is to wait to sell a fancy color diamond at least 5 years at the bare minimum if you would like to see a positive return, but waiting 20 years will yield far more money. Therefore, knowing this factor of time, the decision to sell sooner than 20 years is purely emotional. You know that you want to time your sale to monetize the diamond’s value growth, but no one can really predict the market or the value of diamonds. Just last week, the incredible Shirley Temple Blue diamond, one that experts were sure would sell for a record breaking price when it went up for auction, did not even sell at all.
The Shirley Temple Blue diamond, a 9.54 carat Fancy Deep Blue VVS2 diamond
Image credit: Sotheby’s
In any case, all diamond dealers will tell you that a colorless diamond is not an investment and will barely increase in value over time. If you got a diamond engagement ring 5 years ago, it probably barely increased in value. However, if it was a fancy color diamond engagement ring, there is a good chance that its value somewhat increased.
6. Is it a fancy color diamond or a colorless diamond?
Fancy color diamond prices are not going down, as they are rare and in high demand. However, colorless diamonds recently saw a huge drop in value in the market due to a significantly lower demand since the market crash of 2008. The wave of big ticket fancy color diamonds that are currently being sold were bought in the last 10-20 years since the value of most colors has increased substantially. Those who are buying now are going to do the same and wait until their diamond colors undergo the next wave up so that those diamonds will get an acceptable rate of return as well. Those waves also increase the value of fancy color diamonds that would not be auction worthy but are still valuable. However, that wave is only every few years – how will you know if it is the right time to buy? Contact us at info@investments.diamonds or call us 1-844-DICE-923 and we will answer all of your questions for free.
As you have now read, selling a diamond is significantly more complicated than just buying one. There are tons of factors to consider, such as where to sell a diamond ring, the diamond cost, the diamond value, who would sell the diamond, and who to trust. It is hard to trust a stranger with something as valuable as a diamond. If you are looking to sell your diamond, give us a phone call and speak to one of our investment professionals. You will see without a doubt our integrity and honesty, and our desire to get you the best price possible. We offer services of disposition and acquisition because we have spent years cultivating our relationship with dealers of every kind of diamond, and we will be able to tell you for certain whether to sell or to wait. Diamonds are always a good investment when you get the right advice, and diamond investment advice is our expertise!
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