The different types of diamond buyers can be divided into two categories: local and online options. Locally you can find pawnshops and jewelers, while your online options are online diamond buyers and platforms such as Craigslist or EBay.
- Fast Payment: Choose between a check or wire transfer, both issued within 24 hours, making it a quick and efficient process.
- Safe: Secure transaction from start to finish. While your piece is being shipped, for evaluation, you will be able to track your package, will be notified upon arrival at their headquarters, and it will be insured. Additionally, all items are opened on camera for your protection.
- Diamond Experts: Their in-house GIA trained gemologists will conduct an expert valuation of your stone.
- Complimentary Service: The entire process is free of charge, including all shipping and insurance. Even if you decide you want the diamond returned after receiving their final offer.
- Sell Remotely: Sell from any location in the US, UK, and Canada. You also have the option of going in for an appointment.
- Global Reach: Because of the company’s global reach, they can offer competitive prices based on the global marketplace and current demand.
- No Commission: You will receive the full amount quoted.
- Limited in person appointment locations: In-person appointments are only available in NYC, LA, Chicago and Dallas.
- Weekday Hours Only: Not open over the weekend, but it is still safe to send your items in over the weekend.
- Possibility of a Higher Price: You may be able to get a higher price, since you are picking your price point.
- High-Traffic Site: Craigslist gets a lot of traffic, allowing you to showcase your diamond to a larger audience.
- Safety: This is not always a very secure way to sell your diamond, especially if you have to meet up with the buyer in-person. Always use caution when meeting with potential buyers.
- No Guaranteed Sale: You have no guarantee that you will sell your diamond.
- Lengthy and Unprofessional Process: Though you may find a buyer quickly, reaching out to them to complete the transaction can be a lengthy and uncomfortable process.
- Not Specifically Diamond Sellers: While they do allow you to sell your diamonds on their store, they also are a platform for many different items, which means you have no specific seller that has an actual knowledge of diamonds or diamond valuations.
- Set Your Own Price: Since you can set your price, you may get a higher price.
- Popular Site: Given that the site is well known, you will have a lot of potential buyers for your diamond.
- No Guaranteed Sale: There is no guaranteed sale of your diamond. You are waiting for somebody to be looking to buy that exact piece at the price you have set.
- Hidden Fees: You may be charged an insertion fee, and other marketplace fees, when you list your diamond on EBay.
- No Diamond Experts: Without a diamond expert involved, you can’t be sure what the actual value of your diamond is, and because diamonds are each unique, you cannot discern price from comparable items.
- Local: Pawn shops can be found in almost every city, making them a convenient option when selling diamonds.
- Instant Cash Offer: A lot of pawnshops will offer you cash for diamonds on the spot.
- Not Diamond Experts: Pawnshop owners don’t sell jewelry exclusively, so they often have little to no training in valuing diamonds for their many factors and intricacies.
- Lowball Offers: Though you may be getting a cash offer, it will most likely fall below the actual value of the piece.
- Local: You can find a jeweler who offers consignment in your area, making it easy to drop off your jewelry and retrieve your payment.
- More Money: They will often list your item for a higher amount, but you have to factor in the percentage they will take back for housing your piece.
- Take a Percentage: Once they sell your piece, consignment owners will take a percentage back from you, ranging anywhere from 10%-30%.
- Lengthy process: Though you may be able to find a consignment store in your area, the convenience often stops there. It can take months, and even years, before you see any profit from selling in a consignment store.