If You Sell Your Diamond, This Is What You Get
Sometimes people consider selling their diamonds but have you ever thought about why and how much they get in return? People sell their diamonds when they do not love them anymore or feel that the design may be outdated or when they want money in exchange for it. But what is the resale value of diamonds? What can you expect when you go to sell your old diamonds?
A diamond’s value does not increase with time, and it is possible only to get a fraction of its initial value. Diamonds are gemstones resold very often, and it is possible only to get 25 to 50% of their purchase value. Let us break down the value of the diamond in two parts:
- Purchase Value: Purchase value can be defined as the price at which people buy diamonds from retailers and renowned brands. Diamonds are very pricey, and you can expect to buy them at a profit margin of at least 200% from their initial value. The reason behind these high margins is that the retailer buys it from the wholesaler, who buys it from the manufacturer. In addition to the profit margin of all these agents, the retailer also adds his expenses, such as wages, rent, etc., to the diamond to cover his costs.
Fact:The moment you walk out of the store with the diamond, its value reduces to half.
- Resale value:Are you looking for cash for diamonds? Sell used diamonds and find out the price you get in exchange. Diamonds are usually sold for only 25 to 50% of their purchase value. This does not sound fair, but it is true. A diamond marketplace is a tough place, and one cannot expect much when considering selling to old diamonds buyer. The resale value of a diamond depends highly on the quality, cut, clarity, and brand. All these factors are very important in the resale. It is also dependable on where you are planning on selling your diamonds.
The factors that are responsible for determining the resale value of diamonds include:
- The foremost factor is the four C’s: cut, clarity, carat, and colour of the diamond. All these play an important role in determining the value of the diamond. Before you consider to Sell Old Diamonds Near Me, it is important to know these C’s. It is always good to get your diamonds graded by a reputed laboratory to access these C’s.
- Looking to sell my diamonds? Consider getting its current market value evaluated by local jewellers or gemologists. This will help you ascertain a ballpark figure and give you an idea of what to expect in exchange for your diamond.
- Last but not least, the place where you decide to sell your diamond also affects the price. These can include online, local jewellers, or you can also consider selling your diamonds to BuyMyDiamond to get the finest prices.
Are you planning to sell your diamonds? Diamonds are precious gemstones admired by people across the globe. Like gold, a diamond’s value does not increase with time, but still, people buy it and probably love it more than any other gemstone.