You may want to sell your diamonds for various reasons. Perhaps you face a financial hurdle or have gotten divorced. You must try to get the best price for your diamond when you sell it. For this to happen, you must not act in haste. You must consider various options and slow down.

You can first of all have the diamond appraised. It is wise to get it appraised by two or three jewelers in order to get an accurate idea of its value. You can also ask the appraiser for the Rapaport Value. This is nothing but the wholesale value of the diamond, and indicates the best price for which you can sell your diamond. You should also consider getting a certificate from the GIA if your diamond has no certificate as of right now. This may help you fetch a better price for your diamond.

You can try to sell the diamond yourself as well, to your acquaintances such as family members and friends. If this does not work out, then you can try other sources. You must avoid pawn shops, however, as they will only offer about 10% of the diamond’s actual worth! Also try to avoid offers of selling the ring on consignment. This is because there are various diamond scams and many things can go wrong even in reputed jewelry stores.

You could think of auctioning the diamond through famous auction houses too, such as Sotheby’s or Christie’s. You can sell it to an individual through eBay or classified ads if the diamond is not an extremely important one. But if the diamond is of high value, selling it to an individual can possibly put you in danger.

A jewelry store can be your final option. You must not allow your diamond to get out of sight when you are in the jewelry store. This is because it can be replaced by one of inferior quality! The jeweler can cheat you, saying that your diamond is of low weight or worthless. If you happen to come across any problem with the diamond, the appraisal and/or certificate will be very useful.

The jeweler can offer you between 60% and 80% of the Rapaport Value if he or she is fair. You must not accept anything lower in value than this. Until you have paid for the diamond, do not allow it to get out of sight.