The most essential thing after deciding to sell an engagement ring is how to do it correctly. These are some of the things that you need to do before selling diamonds.
Clean the ring
Make sure the diamond ring is clean so that it shines. Remember that first impressions matter a lot.
Learn the four C
Clarity, cut, color and carat are what will determine the value of your diamond. If you are not familiar with these, there are many resources online. You need to conduct some research so that you will know what you are talking about when you approach diamond buyers. This way, you have a higher chance of getting more money for your jewelry.
Diamonds love to be admired thus you need to get yours appraised. If you already have an appraisal, you should know where it is so that you can take it with you when you will be selling the ring. If you do not have an appraisal, you can go back to the jeweler that sold it to you or opt for an independent jeweler. Remember that an appraisal is the replacement value and not the price of what you will get when you sell it.
If you are not GIA certified, you are not going to be deemed certifiable. If you have one, it is going to increase the value of your ring. You can then send your diamond to be certified but remember that this will cost you money and it is not necessary. If you get a jeweler that tells you they can certify your ring without a GIA certification, you need to be cautious.
After knowing the replacement value of your ring and you have GIA certification and know the precise quality of your diamond, it is time to decide the best way you can get the highest price for your stone. Attend diamond forums and ask who they would recommend to you. Talk to family and friends and event call the Better Business Bureau before you show anyone your stone. A good buyer will give you a general idea over the phone of what they would pay based on the GIA certification and the four Cs.
Set a price but not just any other number. You need to be realistic on what you expect for your diamonds when you sell it. Retailers have a high overhead thus will pay you less. Wholesalers are going to pay more since their overhead is low. The bottom line is that you are going to get what the market can afford. This will depend on how popular your stone is currently and what your certification looks like.
If you choose a buyer that lives in a different city, find out if they will be providing for the shipping and insurance costs and if they are going to wire the money to your bank account if they accept your offer. Inquire the duration it takes for you to get paid if you send the diamond.