Turning a diamond ring into cash
There is tension between the demand and supply of diamonds worldwide because the demand is increasing faster than the supply. This makes it the perfect situation for selling diamonds at great prices. When you want to sell a diamond ring, you have to make sure you are making a smart move by preparing yourself adequately. Some people want to sell the diamond in their ring because they want to upgrade to a bigger carat size, while others may just want to part with their diamond ring due to financial or emotional reasons. No matter what your reasons are, the following guidelines will help you to sell diamond rings.
Diamond prices are increasing worldwide
The Chinese and Indian markets are the fastest growing diamond markets at the moment. The number of “new customers” that this has brought to the diamond market is the main reason for the increase in demand. From Dec 2007 up to March 2014, 1 carat prices increased by 128%, 2 carat prices changed by 125% and 3 carat prices changed by 135%. Colored diamonds continue to break records at auction houses – Like the 6 carat fancy intense Pink diamond ring that fetched $5.7 million in April 2014. As this trend continues, it creates an ideal situation for selling diamond rings.
First step – diamond appraisal
The first and most important step when you sell a diamond ring is getting a diamond appraisal from an unbiased authoritative source. We recommend sending your diamond ring to the GIA as it is the most authoritative diamond appraisal institution. You will have a better understanding of the diamond in your ring concerning the 4Cs and other characteristics of the diamond such as the crown, pavilion, symmetry, depth, and overall measurements. With a GIA certificate, both the buyer and the seller can agree on the quality of the diamond ring. This makes it easier to reach a selling price that satisfies both parties.
Where to sell your diamond ring
Once you know the exact quality features of the diamond ring you want to sell, you can start looking for diamond buyers. The diamond experts at The Diamond Registry can help you to determine the right price for your diamond ring and offer you a great price. With the Diamond Registry, you benefit from 50 years of experience and a proven track record of finding the perfect match between buyer and seller through our global network. Fill out the Quote Form to receive a free quote and get in contact with our diamond experts.