Selling a diamond ring is a big and empowering decision. It takes a lot of courage for a person to come up with such a conclusion. Most often, many individuals who decided to sell their precious stones are looking for solutions that could help them financially and provide support for the family. Meanwhile, other persons sell their diamond ring as a stepping stone to move on and let go of the past.
Have you decided to sell your diamond ring?
If yes, make sure that you are prepared. Know these five common mistakes when selling a diamond ring that you must avoid.
Mistake No.1: Emotionally and Mentally Unprepared
You must be emotionally and mentally prepared before selling your diamond ring. No doubt, you have an emotional attachment towards the jewelry, regardless of the memories it holds. It is normal to develop sentimental value to any of your belongings, particularly among pieces of jewelry. Also, it is not unusual to harbor guilt because of your plan. But remember that these items are also assets. There will come a time that might have to let go of them, and right now could be yours.
Mistake No.2: Knowing 4Cs is Enough
One of the basic knowledge individual diamond sellers must know is the 4Cs (cut, color, clarity, carat weight). These features will determine the stone’s pricing. These 4Cs are usually indicated on the diamond’s GIA certificate if it already has one. Diamonds without a GIA certificate will undergo further assessments to determine its grading according to these characteristics.
Albeit familiarizing the 4Cs is fundamental in this industry, there are still factors that could affect diamond pricing. These factors that are beyond 4Cs are fluorescence, shape, and flawlessness. In a nutshell, there is more to a diamond that what meets the eye. That is why you must avoid the mistake by doing your research and try not to believe everything you read online.
Mistake No.3: Believing in Unrealistic Expectations
Just because it is a diamond it does not mean it has a great value. Owning a diamond is not a quick-rich scheme. Remember that Gemologists grade diamonds according to their characteristics. Therefore, diamonds with poor quality have a lesser price compared to ones that have exceptional qualities.
Mistake No.4: Skip Familiarizing Different Selling Options
There are various methods of selling a diamond. It is important to learn the best way to sell a diamond ring rather than choosing what is more popular on the internet.
These diamond selling options include going to a diamond auction house, a wholesaler, and a retailer. Among these choices, the fastest and most secure option is selling diamonds at a retailer. A diamond retailer is a brick-and-mortar store in the industry. Thus, you can expect your diamond will sell fast and earn money in a short time.
Mistake No.5: Not Asking Questions
Reading about diamond selling through online sources is not enough. Ask questions from a local jeweler about how to sell diamond jewelry. Moreover, a professional in this industry will not lead you astray. Instead, they could help you choose the best selling options and earn the right value for your ring.
Selling a diamond is more complex than you imagine. If you need help on how to sell a diamond ring safely, go to this reliable source.