I am wondering what is the safest and best way to sell a diamond in Sydney. Bit dangerous to sell privately, yet jewelers would pay you a fraction of their value. Just wondering if someone has recently done this safely.
Best way to sell a diamond - without getting ripped.
Llentildude on 06/05/2015 - 19:05
Comments
There seems to be plenty of guides online as to determining the value of diamonds. If you need to, getting a valuation for my gemstones a few years ago wasn't too expensive (in Perth city). With that certificate, you might try ebayau/or ebayus. Ebay Usa I seem to remember had over a million diamond lots for sale at the time. So there may be a lot of buyers.
Also won't do any harm to try a couple of hockshops. Which is where I sold my 20 or so stones to, at a mutually agreeable price. I brought the certificate and they did a careful evaluation on the spot.
Sorry I can't give you any solid ideas regarding selling in Sydney.
If it is certified by a good lab and is a quality diamond you might try the PriceScope forums.
Would help to know the details of the stone.
yet jewelers would pay you a fraction of their value
That's because diamonds, unfortunately, aren't genuinely valuable to the same degree as they are sold. Their value is artificially inflated. :(
Thanks for comments, not real comfortable at a hock shop. Its a 1.5Carat vvs1. It has some sort of certification. It was inherited so dont know where it was purchased. The PriceScope forums isea is interesting - have just started searching their forums, seems American based though.
Does it have any significant family value? Was it owned by a close relative and they always wore it or wanted to do something with it?
The reason I ask is because as others have mentioned, retail markup on diamonds is massive and its not apparent until you try to sell the diamond. Therefore it can be quite easy for the family heritage value to outweigh the resale value.
Mind you, a certified 1.5 Carat vvs1 (depending on the clarity) is a decent stone. Getting a re-certification if the current one is old will only cost about $80 and may make it more saleable
That sounds like a beautiful stone. How have you determined how much you want for it? Older stones were cut differently so that may change the price compared to new stones. Never base the price off an insurance valuation or rrp for a similar stone as they're massively inflated.
In my single experience with stones (star rubies, tourmaline, etc) I was told to get a Valuation Certificate, then to cut that value down to a realitic sale value, mayby half or quarter I can't recall. IE you can't base the price off a Valuation Certificate but you still probably need one to sell.
The stone has been locked away and never worn. Someone today suggested the gold buyers in Picadilly arcade Sydney value diamonds, I might try them for a valuation. BTW- I also have a few misc gold pieces, was wondering if those gold buyers that sometimes setup in Westfield shopping centre are a rip or is there a better value place to sell gold in the city?
the place your talking about in the picadilly centre in the city is called DCLA, they are repuatable and they will provide you with an independent analysis on what the gem is worth, they even have an exchange where you can sell and buy gems. I think this is a good option to get an opinion and off load the gem safely
How badly do you need the money? The perceived value of the stone is likely much higher than what you would get for it.
Maybe mount it on a ring or necklace (not sure of the cut) and keep it for your wife/mom/kids/kid's wife?
If you are married or in a serious relationship, that stone could be worth much more in terms of intangible value that its resale value. If used at the right moment, it could get you out of a lot of trouble or could be used to get what you want from your S/O.
Where did you purchase? Is it certified?