If you’re thinking about selling your old diamonds or diamond jewelry for cash, there are three steps you should take before you sell, which I detail below, as well as several buyers to consider. This post also elaborates on setting your expectations for resale, as diamond prices are at historic lows.
Recommendations for where to sell diamonds that I made here are based on:
You are viewing: Where To Sell Loose Diamonds
- Online reviews from customers
- Speed
- Better Business Bureau ratings
- Reports from reputable publications
- Age of the company
- Ease of use of their websites
- Transparency into their process
- Overall sentiment that these are quality businesses that care about their customers
But what you really want to know is likely this:
How do I sell my diamonds for the best price? Answer: Diamonds USA
DiamondsUSA is an online diamond buyer that has a best price guarantee. Here’s more on why they’re the top choice:
Pricing and payment
- Get paid within 24 hours of accepted offer
- 10% bonus if you send your item within 7 days
- 100% highest price guarantee
Reputation
- Better Business Bureau rating of A+
- Founded 2005
- 3.7/5 Trustpilot stars
Safety and insurance
- Free insured mailer (up to $100,000) sent to your home
- Buys gold, silver, platinum jewelry, watches, coins and scrap
- 100% highest price guarantee
Value add
- Guaranteed highest price
- Your choice of shipping: USPS or FedEx, or print label at home for fastest process
- If you do not accept their offer, DiamondsUSA will send your item back immediately, free of charge
- Accepts all diamonds, regardless of size or quality
- Pays by your choice: Paypal, print-at-home check, direct deposit, personal check by Fedex or First Class USPS or Virtual Visa credit card.
However, if speed is your first priority, start with your local pawn shop or jewelry store. Start by asking around for a recommendation from family and friends, check Yelp and Better Business Bureau reviews for reputable pawnbrokers in your area. You can always get a quote from a local establishment, perhaps learn something about your diamond, and then get quotes from some online buyers, too.
Get an immediate quote for your diamond now >>
Or, keep reading to learn more about how to get the most cash for your diamond, safely:
3 steps for reselling diamonds and diamond jewelry:
Here are some tips about how to sell diamonds to help you prepare for when you are ready to part with your jewelry.
1. Before you sell diamonds or diamond jewelry, educate yourself about the value of your diamond
A diamond’s value is determined by a variety of factors, the most important of which include the stone’s color, cut, clarity, and carat. You can get a diamond certification from a lab like GIA, which takes time and will cost a couple hundred dollars, or use invoice information from the original purchase. However, most people learn about what their diamond is worth by asking a reputable local jeweler, pawn broker, or getting a quote from an online diamond buyer.
Martin Rapaport is founder of the Rapaport Diamond Report and the RapNet online diamond trading network — both of which are the industry standard for diamond prices and trends. Rapaport told me that he recommends people looking to sell their diamonds to look up comparable stones for sale on a site like BlueNile, and expect to fetch about 30% of the retail value when you sell.
Diamond resale prices have been on a roller coaster in the past few years: Prices jumped 31% during the pandemic to a peak in April 2022, but have fallen tremendously since then, despite recent efforts by top gem producers to bolster prices.1
Why?
- Softening U.S. economy
- Increased popularity in lab diamonds
- Rough and polished diamond supplies are very high
- Fewer people are buying engagement rings, as young adults are marrying less, and opting for different types of engagement rings.
“High inflation and interest rates continued to restrict middle America’s spending … China’s post-lockdown recovery did not extend to diamonds,” Rapaport said.
Prices continue to drop and inventory levels stay high despite sanctions against large caches of Russian rough diamonds.
While the 2023 holidays saw diamond prices uptick, they they were still down more than a third since their 2022 peak, and far below prices five years ago:
Cubic zirconia vs diamonds: What to know before you buy
2. Get a diamond appraisal and a diamond certificate before you sell
A diamond appraisal is a document that specifies the key characteristics of a diamond and its setting, including carat, color, clarity, cut and measurements, and gives a dollar value estimate of its retail value (not resale value) — whether for insurance purposes, or or to determine its value on the resale market. You can get a jewelry appraisal for any piece of fine jewelry or watch, though since they cost $50 to $200+, it only makes sense if your item would sell for at least $1,000.
A diamond certification, also called a diamond grading report or a diamond lab report, is a document that details the technical aspects of a diamond. This information helps an appraiser, buyer or insurer determine a diamond’s value in the current market. Lab reports are only available from a handful of reputable, internationally recognized jewelry laboratories including GIA and IGI.
A diamond lab report gives you, the owner of the diamond, peace of mind that you got what you paid for and helps you understand the exact specifications of your diamond. Some diamond buyers only work with sellers who have lab reports.
3. Evaluate all reputable diamond buyers
Now that you know what you have and an idea of what it might be worth, you are ready to consider selling your diamond by researching diamond buyers online and near you. More on our diamond buyer research here.
Diamonds USA (formerly CashforDiamondsUSA), is the most relevant to most diamond sellers because they can help you sell the following (and more):
- Diamond ring with a small center stone of any size
- Wedding ring with lots of small diamonds in the setting (more here on selling a diamond engagement ring)
- Engagement ring with small diamonds or other gemstones in the setting
- All other diamond, gold, gemstone or even silver jewelry and coins
These are some recent sales from Diamonds USA as of January 2024:
$1,500 – White gold engagement ring with 1.29 carat center stone with a clarity I1 with color J-K w strong fluorescence:
$1,200 – 2.7 total carat weight gold bracelet
$445 – 1.16 total carat weight engagement ring
There are some cases in which DiamondsUSA might not be your best choice.
If your center stone diamond is at least .5 carat and perhaps also from a brand like Tiffany or Cartier, you might also check out Worthy, myGemma, and Abe Mor You can also consider a jewelry loan from a company like Diamond Banc review.
How much are diamonds worth?
As you learn more about how to sell diamonds, naturally you will want to know what your diamonds are worth and how much you can sell them for.
Grading and valuing a diamond is a complex process, one that requires a professional expert and benefits from sophisticated laboratory technology.
The price you will receive for any diamond, no matter where you sell it, depends on many factors, including the size, clarity and cut of your diamond as well as the market demand for your gemstone, as well as the honesty and integrity of the buyer!
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It is also very important to keep in mind that the resale value of a diamond (or any fine jewelry) will be much less than what you paid for it, retail.
That said, there are some basic tools and terms that anyone can use to make sure they understand any price quoted for their diamonds, and help you understand what your diamond is worth. Keep reading to learn about your diamond and what it is worth.
Moissanite vs diamond: What to know about resale value in 2024
4 C’s of diamonds
The 4 C’s are a well-recognized foundation for measuring the quality and value of your diamond. A diamond grading chart is helpful in determining value.
Color
The color of gem-quality diamonds occurs in colors ranging from completely colorless (the rarest of diamonds), to shades of yellow (also called “canary diamonds) and brown (“cognac diamonds”). Colorless diamonds are the rarest. Rare, “fancy” diamonds that are naturally blue, red, and pink are graded on their own, separate scale.
Clarity
Diamonds usually have internal flaws called inclusions, or external characteristics known as blemishes. Diamonds without inclusions or blemishes are rare; however, most characteristics can only be seen with magnification. This is the diamond clarity scale from the American Gem Society side-by-side with the Gemological Institute of America’s (GIA) clarity grading scale:
Carat
The carat is the diamond’s physical weight measured in metric carats. One carat equals 1/5 gram and is subdivided into 100 points. Carat weight is the most objective grade of the 4Cs.
Cut
Cut is simply the way the cutter cut the diamond, and the skill and precision of the cutter’s work. The more precise the cut, the more beautiful the diamond is to look at.
In the 4 C’s, cut refers to the precision with which a stone is faceted by the diamond cutter. However, the word cut also denotes the shape of the diamond — and some shapes are more popular, and more valuable than others.
Here is a chart of shapes and prices for different, popular diamond shapes with similar characteristics, from BlueNile. It will help you understand the value and worth of round brilliant-cut diamonds, princess (square), emerald (step-cut rectangle), marquise diamonds, and other shapes.
You also want to know how much a baguette or trillion-cut diamond is worth?
A baguette diamond is a long, 14-facet diamond typically used as an accent or side stone on a solitaire ring, or as part of an eternity band, while a trillion is a triangle-shape generally used as a side-stone in a piece of fine jewelry. Each of these shapes are typically not worth more than a few hundred dollars, though a larger baguette or trillion of high quality can be worth more.
Other factors, such as the diamond’s history (in the case of an antique stone, for example) and underlying market conditions can also affect the end price for a stone. A diamond certification will typically detail much of the specific information about a stone, while a diamond appraisal will use that information along with other data to assign it a value.
How much do you lose selling a diamond?
Expect to get between 30% and 50% of today’s retail value of your diamond at resale. The reasons include:
- Diamond buyers are really only interested in the center stone, which they can repurpose into other, more contemporary pieces of jewelry, or custom items for their clients. The retail price you paid includes the design, smaller side stones, labor, and the retail experience. A diamond wholesale buyer or diamond exchange will melt the metal down to scrap.
- Wholesale jewelry buyers need to make a profit when they resell your ring or earrings, so they like to buy low, and then turn around and sell your diamond for a higher price.
- There is often confusion about the total carat weight of a diamond ring or other jewelry. A common misunderstanding is that the jewelry owner believes that, for example, she has a 1 carat diamond ring, when in reality, the center stone is .5 carats, and the surrounding smaller stones total .5 carats. Most jewelers or jewelry buyers value the smaller stones very little — perhaps less than $100 total in this case — and are only interested in the center stone.
Do diamonds have resale value?
One of the reasons many women choose not to sell their diamonds or diamond ring is that the price they are quoted from a jeweler or auction site is much lower than they believe their rings to be worth. Typically, the resale value of a diamond is about one-third of what you will pay retail.
That said, diamonds do have a vibrant resale market, and old jewelry, a ring from a divorced marriage, or inherited estate jewelry can bring much-needed cash when sold to a reputable diamond buyer.
How much can you sell diamonds for?
While diamond resale can be intimidating and stressful, you can always walk into your local jeweler and see if he or she will buy your jewelry or loose diamond for cash — and take the offer on the spot.
However, it can be more profitable to sell a diamond ring or other diamond jewelry online from one of the top diamond buyers, who will send a FedEx or USPS mailer to your door for free, and overnight your item to their offices for evaluation, appraisal and quick payment.
At the end of the day, your diamond is worth what someone is willing to pay you for it at that moment. Considering the rapid rise and fall of diamond prices in recent years, I suggest selling sooner than later before prices fall further.
One-carat diamond: How much is a single 1-carat diamond worth? How much can you sell a 1 carat diamond for?
Typically, only the center stone of your ring or necklace will hold any significant resale value, and the surrounding gold or platinum, and small side stones are considered scrap. You will only get the melt value of that setting.
As of , the spot gold value in the United States was trading at $ per ounce, or $ per gram.
Here is a recent retail diamond value chart for a single 1-carat, brilliant (round) loose diamond on BlueNile. Note the range for all qualities of 1-carat stones range from $2,473 to $12,317 for a perfect, colorless 1-carat diamond:
Note these are retail prices for loose, 1-carat diamonds sold to buyers. Resale prices will be much lower.
One-carat diamond resale value: $1,036 to $5,946, depending on clarity, color and shape
Two-carat diamond: How much is a 2 carat diamond worth?
Again, diamond resale values are based on the size and quality of the center stone, not total carat weight of all the diamonds in the piece.
Two-carat diamond resale value: $2,167 to $15,254
Half-carat diamond: How much is a .5-carat diamond worth?
According to BlueNile, half-carat loose diamond retail prices range from $310 to $5,759. If you sell via Worthy or Diamonds USA, your diamond’s resale value is likely a few hundred dollars or less.
Quarter-carat diamond: How much is a .25-carat diamond worth?
A high-quality quarter-carat diamond may retail between $500 and $1,000, but diamond resale value will be about a third of those numbers.
Are flawed diamonds worth more?
Flawed diamonds, including flawed diamond rings, are worth less than diamonds with a higher quality color and clarity. Inclusions inside a diamond, as well as scratches and chips on its surface, can decrease a diamond’s value.
What are the imperfections in diamonds?
There are two types of imperfections in diamonds: inclusions and blemishes. Inclusions are internal imperfections that occur during the formation of the stone, such as:
- Crystals – Diamond or mineral embedded in the stone
- Feathers – Tiny fractures inside of a diamond
- Uncrystallized carbon – Dark spots that create a salt and pepper effect inside of a diamond
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Blemishes occur after the formation of the diamond, typically during the manufacturing process, and can include chips and scratches to the diamond’s surface.
If you’re asking yourself “Is it normal for diamonds to have imperfections?” — the answer is yes. Almost every diamond has imperfections. The clarity grading of a stone is determined by how visible these imperfections are.
Who buys flawed diamonds?
All natural diamonds have some flaws in them, though the fewer flaws — a.k.a. inclusions — generally mean higher quality and higher value. Flawed diamonds are just diamonds that are bought by jewelry stores, pawnshops, and retail and online diamond buyers.
Top online diamond buyer Diamonds USA buys flawed diamonds, including broken and cracked diamonds. You can get a free appraisal and payment within 24 hours of Diamond USA receiving your diamond.
What are melee diamonds? Are melee diamonds worth anything?
Melee diamonds are very tiny diamonds that are commonly used as accents, or in pavé, halo and channel settings. Eternity bands often use melee diamonds.
Diamond resale value for tiny diamonds are much less, and they are often sold based on their collective weight for hundreds of dollars or less. Sellers often find that the gold or platinum setting of a diamond ring is worth as much or more than the actual diamonds.
A full carat’s worth of melee diamonds is worth between $200 and $1,000, depending on the size and quality.
Where can I find melee diamond buyers?
If you want to sell melee diamonds, we recommend selling them to Diamonds USA, which purchases all diamonds, regardless of their size, condition, branding, or artistic value.
You can also sell melee diamonds to other online diamond buyers, on consignment, on sites like ebay, and to some local jewelry stores and pawn shops.
Diamond accents: Are diamond accents worth anything?
Accent stones on a ring or other piece of fine jewelry are simply the smaller side stones complimenting the larger center stone. Accent stones are often melee diamonds, but not always.
A high-quality quarter-carat diamond may retail between $500 and $1,000, but diamond resale value will be about a third of those numbers.
Any diamond less than .10 carats is sold based on its weight, like melee.
Chipped diamonds: How much is a chipped diamond worth?
If your diamond is small — less than .5 carats — a chipped diamond is not worth much. However, larger diamonds, especially those that are high-quality, may be of interest to a diamond buyer who believes they can recut the diamond into a gem they can sell for a profit. However, the price they will offer you will be less than if the diamond is not chipped, of course.
What is the best way to sell diamonds and diamond jewelry?
If you already know the answers to these questions, or are otherwise ready to sell your diamond jewelry or loose diamonds, our top place to sell diamonds is an online diamond buyer: Diamonds USA.
- Free door-to-door FedEx shipping
- Pays within 24 hours
- 10% bonus when you send in your diamond or jewelry within 7 days
- Appraisals are performed by the Gem Institute of America
- A+ BBB rating
- 100% guarantee highest price
- Founded in 2005 and paid out millions of dollars worth of gold, diamonds and other fine jewelry and watches, including Rolex watches
However, if your diamond is large and worth at least $1,000, start with one of the other places recommended like Worthy, myGemma, or I Do Now I Don’t.
How to sell your diamonds for cash to DiamondsUSA
DiamondsUSA is among the most reputable diamond buyers on the market, and easy to use:
- Go to DiamondsUSA and request an appraisal kit, including a FREE prepaid overnight FedEx mailer delivered to, and picked up from your door. Your item is insured en transit up to $100,000 by Jeweler’s Mutual insurance. Lloyds of London insures the Diamonds USA facility.
- Once received, you will get a confirmation email or call, and Diamonds USA evaluates your item and extends an offer.
- Once you accept the offer, get paid within 24 hours.
Send in your item within 7 days and get a 10% bonus. Best price guarantee.
If you choose to decline the offer for whatever reason, Diamonds USA will immediately return your item for free, no questions asked.
Learn more about this company in our review.
Where can I sell diamonds near me?
Many people start their diamond-selling journey with local businesses near you. These might include:
- A local jewelry store
- Pawn shop
- Consignment shop
- Diamond and gold exchange
If you want to start selling a diamond with a quote from a local, check out Yelp, ask friends, and search the Better Business Bureau for diamond buyers in your area. Bring all documentation for your item (like a GIA or other diamond grading report), and never commit to a sale without a second opinion.
Do jewelers buy diamonds?
Yes, jewelers often buy loose diamonds, diamond rings and other jewelry — as well as provide insurance-replacement appraisals.
Do pawn shops buy diamonds?
Yes, pawn shops buy diamond jewelry and loose diamonds, though typically for far below what a jeweler or online diamond buyer will pay.
Bottom line: Is now a good time for selling diamonds?
While diamonds have historically held their value, in recent years, several factors have resulted in a decline in diamond values:
- Softening U.S. economy
- General decreased interest among younger buyers who are more interested in paying off debt and investing than big engagement rings
- Environmental concerns of diamond mining
- Rise in popularity of quality lab-grown diamonds that cost a fraction of the real deal
- High retailer inventory after a pandemic buying spree
However, looking into 2024, the meta trends mentioned above stand to put downward pressure on all diamonds — including those in the resale market.
So, should you sell your diamond now?
On one hand, you may choose to hold on to your diamond and sell in the event prices go up, or you may choose to sell your diamond now before prices drop further.
On the other hand, you can sell now and invest the money you earn in another investment that has a high return: the stock market, a high-interest savings account, real estate, or education to grow your career.
Regardless, if you need the cash now, sell those bad vibes. Start the process now with DiamondsUSA >>
Sources
- Diamond sales are back after miners froze the market to boost collapsing prices,” Dec 18, 2023. Business Insider. https://markets.businessinsider.com/news/commodities/diamond-sales-market-rebound-debeers-india-alrosa-miners-price-crash-2023-12
Source: https://t-tees.com
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