Looking for the best diamond buyer and the best way to sell diamonds? Not all diamond buyers are equal so it pays to do your research when selling loose diamonds or diamond jewelry. The best way to sell diamonds is to work with a reputable and expert diamond buyer with a clear and fast selling process. To make your search easier, we take a closer look at the different diamond selling options and compare diamond buyers. Below we have ranked our top diamond buyers.
Best Diamond Buyers Ranked:
- WP Diamonds
The best way to sell diamonds? Work with WP Diamonds. Established in 2012, WP Diamonds is a leading international buyer of diamonds, designer jewelry and luxury watches. Headquartered in NYC, with offices in Hong Kong and the UK they work with customers from around the world. Choose to sell online or in person, but first get your free price quote by filling out their online form. They have an A+ BBB rating and hundreds of great online reviews. A trusted and reputable diamond buyer with strong prices, they are a fast, safe and easy way to sell and rank number one in our list of diamond buyers.
- Fast Payment: Choose between a check or wire transfer, payment is immediate making this 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.
- Free: The entire process is free of charge and there are no fees or commissions deducted from your offer.
- Diamond Experts: Their in-house GIA trained gemologists will conduct an expert valuation of your stone.
- Free 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. There are no costs, fees or commissions deducted from your final offer.
- Sell Remotely: Sell in person or online.
- 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.
- High-end Selling Experience: With fantastic customer service and a team of knowledgable diamond experts, WP Diamonds maintains a high-end selling experience from start to finish. Modern and professional offices, discreet service and no high pressure tactics.
- Limited in person appointment locations: In-person appointments are only available in NYC, the UK and Hong Kong.
- Weekday Hours Only: Not open over the weekend, but it is still safe to send your items in over the weekend.
2. SECOND PLACE: EBAY
Second on our list of best diamond buyers is eBay. A great option for selling, but be warned, it can be time consuming.
- 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.
3. THIRD PLACE: PAWNSHOPS
A popular local diamond buyer, pawnshops have the benefit of convenience and fast payments, but the downside of low offers.
- 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.
4. FOURTH PLACE: CONSIGNMENT
Another strong local option for selling diamonds, selling via consignment has long been a popular solution. However it often takes a lot of time and it is important to thoroughly understand the terms and conditions and fees of the jeweler.
- 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.
5. FIFTH PLACE: CRAIGSLIST
While you may not associate Craigslist as the best way to sell diamonds, many people do in fact opt to sell engagement rings and other diamond jewelry here.
- 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.
Best Diamond Buyers 2019: The Best Way to Sell Diamonds
We rank WP Diamonds as one of the top diamond buyers and the best way to sell diamonds. The most important factors to consider when choosing a diamond buyer are the following:
- Better Business Bureau Rating: they should have an A or ideally A+
- Customer reviews: genuine customer reviews are important to review in order to get a clear picture of what their selling experience is like
- Speed of service: selling diamonds does not need to be a long process
- Responsiveness: you will want to work with a company that is responsive and prioritizes customer service
- Diamond experts: work with diamond buyers that are knowledgable diamond experts in order to get the best prices and overall the best way to sell diamonds
How to sell diamonds and diamond jewelry
The first step is to review the different diamond buyers available choose which to work with. No matter your choice, be sure to read customer reviews and familiarize yourself with their process. The most important thing is to find a trustworthy and reputable diamond buyer that you feel comfortable selling to.
The second step is to gather all information and or original box and paperwork for your diamonds. Not only will this help you get price quotes but it can also add to the value. A GIA certificate or original Cartier box and papers, for example, will increase your price offer.
The third step is to get a price quote. Or, if you are opting to list your diamonds online (eBay/Craigslist) then you will need to set a realistic selling price. The reality is that you will not get back what you paid for your diamonds. Much like a used car, diamonds depreciate in value after being purchased. High retail markups due to slow moving inventory and high overhead costs result in high retail prices but lower second-hand prices. Typically you can expect to receive anywhere from 30% to 45% of the original price paid.
The fourth step depends entirely on the diamond buyer you have opted to work with. We recommend working with WP Diamonds, with them you can either schedule an appointment or use their free shipping and insurance to send you diamonds to them for a final price. Then accept the offer and get paid or have your diamonds returned free of charge.