Can I sell my GIA diamond for profit? This is a highly debatable topic nowadays. If you have a piece of jewelry especially a ring with a GIA-certified diamond, you can use online platforms to sell it for profit. Verified online buyers are ready to give you market value for your certified diamonds. Being a diamond owner you should know that diamonds tend to lose their market value by 30% since you purchase them. They are not like gold or silver which retain their value and give you a better resale price.
GIA-certified diamonds refer to diamonds that are available in free form not engage with a piece of jewelry. They are in the best condition as compared to being fit in the jewelry which you wear. The buyers are mostly retailers who can then engage these in making new things which has a good sale value. However, you can get a high value for your diamond ring if it is made of platinum and gold.
Know the criteria for selling diamonds
Before jumping into whether or not you should sell your GIA diamond, you should understand the criteria for the judgment of a diamond. It depends upon four factors or called Four C’s in common, these are cut, clarity, carat, and color. Cut means the shape of the diamond and it also shows its shine.
Clarity refers to the lines and blemishes on the diamond which usually show up when you use your diamond jewelry frequently. Carat is the weight of the diamond and the color refers to the cloudiness or whiteness of the diamond measured on a scale from D to Z starting from colorless (clear) to a yellowish (faded) shade.
Fake GIA diamonds
Another big question when you consider sell my diamond ring is to know the difference between real and fake GIA diamonds. GIA diamonds are specified by a gemologist However many Jewelers and fake sellers also bring fake diamonds to the market. This can be a legit scam especially if you are purchasing diamonds or selling your original certified diamond. So, you should better have a diamond test from a professional laboratory to retain the value of your assets.
Where to sell my GIA diamond?
Selling to a pawnshop
A pawnshop is the fastest way to sell your diamonds but they do not offer the right price for your diamonds. An online retailer or a jewelry store would pay you more than these pawnshops. It is quite surprising that you will have to pay more money to get your diamond back from that pawnshop as compared to what they paid you.
Making consignment with a local jeweler
A consignment with a local jeweler can help you get your desired or an estimated amount of what you want. But they might require some time to sell your jewelry. Our consignment means that the jewelry shop will keep your ring or jewelry for a length of time tell a suitable buyer purchases it.
You have to pay a small amount of money as a fee. A local jeweler will give you a percentage of the money that you want. You are more likely to get a value for your GIA diamond as the shopkeeper will sell it for a profit.
Selling through an online platform
An online platform is a far more convenient and trusted option if you have been searching for Who buys diamond rings? A renowned platform will give you an estimate of the price for your GIA diamonds. They can also provide certification which adds up to the value of your belongings. They have a higher resale value and present your diamond ring the right way.