The Value of Second Hand Diamonds
If you recently went through a divorce, then you are most probably putting up with many financial difficulties. You need to obtain cash in order to go on with your life, and the most reasonable choice is to sell your diamond jewelry. It is extremely important to keep in mind that even if you wore your diamond engagement ring for only 1 year, that is regarded a second hand diamond. So what is the true value of second hand diamonds? Where to sell them to obtain the best price? Where to buy second hand diamonds? Keep reading to find out more valuable information.
When you sell used diamond jewelry
First, you need to find a diamond company that is reputable and experienced in the field. It is not advisable to sell your diamond ring to private individuals, as you are exposed to the risk of underselling. Just take your time to research carefully and find such a trustworthy company, where the experts will evaluate your diamond jewelry, let you know its current market value and come up with a reasonable offer. Such a company will always offer you instant cash for your diamond ring, even if it is ‘second hand’.
Then, there are many companies which will purchase diamonds even if these do not come accompanied by an insurance appraisal or a diamond grading certificate (such as the GIA certification). The experts will analyze closely the diamond, and come up with a quote that you can review.
When you buy used diamond jewelry
Many couples opt to buy used or ‘second hand’ diamond jewelry because it is slightly cheaper than new jewelry. However, you need to be extra careful where you purchase these diamonds and how much you pay for them. It is a wise step to have on your side an expert jeweler who can advise you properly. He will help you avoid all the pitfalls, such as buying fake diamonds, overpaying for your diamond, buying very poor quality diamonds that are sold too expensively and many other such issues.
You should always purchase used diamond jewelry that comes with a genuine certification. Some of the certifications you should look for include: The Gemological Institute of America (GIA certification), The International Gemological Institute (IGI), the American Gem Society (AGS), or the European Gemological Laboratory (EGL). Of all the diamond certification laboratories, the GIA is the most highly regarded within the industry. Do not buy a used diamond without such a certification!
If you are buying used vintage diamond jewelry, this will most probably not have a GIA certification, but it should have what is called a Certification of Authenticity. When buying used diamonds, another good tip is to buy only jewelry that has a refund policy. After you purchase the diamond, take it to the jeweler for an appraisal. If the jeweler tells you the value of the ring is much lower than what you actually paid for, you can still get your money back through the refund policy. This policy is a sort of assurance for you that in case anything is wrong with the purchase you can recover your investment.