How to Sell A Diamond

How to Sell A Diamond

There are many reasons why you may want 

to sell a diamond that you own. Perhaps 

you’ve gotten divorced, or you are strapped 

for cash. The reasons why don’t really matter 

– getting the best possible price is what 

counts! The way to obtain the best price 

for the diamond is to not be in a rush. Slow 

down, and carefully consider all of your 

options – there are many.

First, have the diamond appraised. In fact, 

have it appraised by two or three jewelers to 

get an accurate idea of the diamonds value. 

Tell the appraiser that you want the Rapaport 

Value. This is the wholesale value of the 

diamond, and it basically tells you the highest 

price that you can sell your diamond for. If your 

diamond has no certificate, you should 

consider getting a certificate from GIA. This 

may help you get a better price for the 

diamond as well.

First, try to sell the diamond yourself, to 

people you know. Friends and family 

members may be interested. If you don’t have 

any luck with friends or family members, you 

should turn to outside sources. Absolutely 

avoid pawn shops! A pawn shop will only offer 

you about 10% of what the diamond is worth! 

Also avoid offers of selling the ring on 

consignment. There are many things that 

can go wrong, and there is no shortage of 

diamond scams – even in well known 

jewelry stores.

If the diamond is important, you should 

strongly consider auctioning it off through 

one of the famous auction houses, such as 

Christie’s or Sotheby’s. If it isn’t what is 

considered an ‘important’ diamond or a 

high-end diamond, you should try to sell it 

to an individual using classified ads, or even 

eBay. However, selling to an individual that 

you do not know could put you in danger – 

especially if the diamond is worth a lot of 

money.

Your final option should be a jewelry store. It 

is vital that you not let your diamond out of 

your sight while in the jewelry store – you 

might find that the diamond you walked in 

with is not the same diamond that you walk 

out with! The jeweler will try to tell you that 

your diamond is of poor quality or low 

weight. Inevitably, there will be some 

problem with the diamond. This is where 

your appraisal and/or certificate will come 

in handy. 

If the jeweler is fair, they will offer you 

between 60% and 80% of the value of the 

Rapaport Value. Do not accept anything less 

than this. Again, do not let the diamond out of

your sight until you have been paid for it.