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Diamonds are often connected to important memories. Because of this, the choice to sell them is a personal one. Whatever your reason for selling, be it out of necessity or otherwise is one that should be made with lots of thought and consideration.

Assess and Research Your Diamonds
Before you go somewhere and try to sell your diamond, it is crucial that you educate yourself about the diamond that you own. Doing this will allow you to know what it is worth so that you get fair market value on any potential sale. In order to ensure that you get a fair price for your diamond, you need to know the cut, colour, carat, and clarity of it (this is also known as the 4 C’s).

One of the best ways that you can find this information out is to consult a qualified appraiser who doesn’t buy or sell diamonds. They ought to be able to give you an informed and objective opinion about what you have. Remember, the more information that you have, the better you’ll be able to handle a diamond dealer and safeguard against low price offers.

Get a GIA Certification for Your Diamond
A certification from the Gemological Institute of America (GIA) can provide you with an idea of the worth.  The GIA is the most trusted valuation body within the entire diamond industry. Although the GIA does not provide specific monetary valuations, it can tell you the information that you need regarding your stone (the 4 C’s listed above) of your stone, along with any flaws that it might have. In order to get a certification from the GIA, you’ll need to send off your diamond to the institute and pay a fee to have it done. Now, this certification is not necessary for you to be able to sell your diamond, however, it does offer you protection from buyers who might try to offer you a low price by claiming that your diamond quality is lower than it actually is.

Set a Realistic Price
If you request assistance from a qualified appraiser, make sure that you ask him/her to help you set a fair and realistic price for your diamond. Another great thing to do when figuring out the realistic price is to research similar stones over the internet and find out what the recent valuation and market trends.

Research the Best Places to Sell Your Diamond
In today’s day and age, there are a variety of ways to sell your diamond jewelry.  Some of these include:

-Local pawn shops

-Local consignment stores




Understand the Importance of Negotiation and How to Do It
When negotiating it is important that you continue to push for the price you want. If a buyer does not offer you a price that you are happy with, just walk away and move on to another buyer. Don’t rush, even if you need cash fast. If you are in a hurry, potential buyers pick up on that and will purposefully offer you a low-price thinking that you will accept the first offer that they offer. Take your time, don’t settle and try out different buyers. That said if you find that after speaking with numerous potential buyers they are offering almost same prices for your stone that is lower than what you had hoped it could be possible that your expectation is unrealistic.

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Gold Dollar Exchange

Gold Dollar Exchange
245 Main Street East
Unit 2
Milton, Ontario
ON L9T 1P1

T: +905 699 3603