A value of a diamond is determined by a range of factors, the most crucial of which include the gemstone’s cut, color, clarity, and carat. All of these characteristics are included on the document called diamond certificate which is issued by a reputable diamond grading lab.
But what if you wanted to sell your diamond and you don’t have a diamond certificate accompanied by your stone?
If you’re in a similar situation, don’t worry, there are ways of selling your diamond without needing the certificate. In this article, we will teach you how to sell a diamond without a certificate as well as some other factors you should be aware of before selling your precious gemstone.
So without further ado, Let’s dive in.
What Are Diamond Certificates?
Diamond certificates are documents that are issued by accredited gemological labs.
The diamond’s final grading has a major influence on its price.
Along with each stone you consider purchasing, you’ll have to make sure you receive and review its lab report. This document describes various elements of the diamond, such as color, clarity, angles, width, and length.
Trained diamond professionals evaluate these shiny stones by using professional tools including a loupe or microscope.
Related Read: Can You Get a Diamond Certified After Purchase?
Benefits Of Certified Diamonds
When you buy a certified diamond, you know that it has been verified for its quality. You’ll actually be buying a gemstone based on its characteristics instead of just having to trust the retailer with no actual proof.
Here are some additional benefits of purchasing a certified diamond:
- Certified stones generally have a higher value than their non-certified counterparts, especially when it comes to resale or upgrading purposes.
- Certified diamonds have a simpler comparison process because it’s much easier to compare stones that have been graded based on their 4 C’s than it is to rely only on visual inspection.
- Instead of skepticism, shoppers can purchase with online retailers with confidence.
Overall, a diamond grading report is a pretty important factor one should consider when buying a diamond. If you decide to purchase a non-certified stone, you’ll have to trust what the seller is pitching, which can sometimes be biased and not the actual truth.
However, if the stone is certified by a reputable grading entity, you will have proof of the diamond’s quality right away.
A diamond certificate helps you make an informed decision when selecting and purchasing a natural diamond.
Overall, purchasing a certified gem will give you peace of mind, and you’ll be satisfied with your purchasing decision.
Diamond Certificate Vs Diamond Appraisal
Two terms that are often confused with one other in the diamond world are diamond certificates and diamond appraisals. Although some retailers might try to use diamond appraisals instead of diamond certificates, these two aren’t the same thing.
A diamond appraisal is a document that puts a monetary value on a stone. These documents are generally used to figure out the proper amount of money needed for the diamond’s insurance.
Conversely, a diamond certificate doesn’t value the gem when it comes to its worth. The purpose of this document is to evaluate all of the main qualities and characteristics of the stone.
The diamond certificate simply grades the stone based on its cut quality, color, clarity, and carat weight.
Getting A Jewelers Appraisal
Most often, jewelers can provide both written and verbal diamond appraisals. A diamond appraisal represents the jeweler’s opinion of the diamond’s main characteristics, which he then uses to provide an estimated value of the stone.
The Advantages Of Diamond Appraisal
One of the main benefits is that you can get your diamond appraised on the same day. An appraisal might disclose if the gemstone has a lasered certificate number on it, which means it has been graded and certified by a lab at some point, further helping you to get a more precise assessment of the stone.
Also, a diamond appraisal could offer some guidance on the key elements of the diamond such as color and clarity. These factors are necessary so you can get comparable prices when shopping around.
Having some sort of documentation enables the buyer to insure the diamond correctly during transit.
The Disadvantages Of Diamond Appraisal
The information included in the diamond appraisal represents merely an opinion of that particular jeweler which can sometimes not be aligned with the grading standards of the renowned labs.
A diamond appraisal doesn’t offer a re-sale value but a New Replacement Value for insurance purposes. If you intend to sell your diamond, keep in mind that the value provided on the appraisal will never be achieved when you decide to sell the stone.
In addition, diamond appraisals can cost around $100 or a percentage of the diamond’s appraised value.
Lastly, the document won’t increase the value of your diamond but will give you the needed information to market your stone more accurately.
Related Read: How Much Does It Cost To Get A Diamond Appraised?
Where Can I Sell My Diamond Without A Certificate
Here are some of the locations where you might consider selling your uncertified diamond:
When it comes to selling your diamond without a certificate, jewelry stores can be your safest bet. Jewelry stores will always try to purchase your diamond for less money, whether you have a certificate or not because this is how the jewelers make a profit.
Obviously, you won’t get near the diamond’s actual worth, but you’ll be able to sell it if you need to.
Again, just like jewelry stores, it’s likely that pawnshops will offer you a lower price for your gemstone, especially if you don’t have a certificate.
However, if you are looking to sell your gemstone without a certificate quickly, it might be worth a shot to try and sell at a pawnshop. You will most likely receive less than the diamond’s actual worth, but this is because the pawnshop is aiming to make a profit.
Related Read: How Much Does A Pawn Shop Pay For A Diamond Ring?
Online Selling Platforms
Many people try to use online selling platforms to sell their diamonds because of convenience or a belief that they’ll get a better price. Here are some reasons why you should consider selling your diamond online:
- Potential to get more money for your stone
- The feeling of being in full control of the sale
- Higher chances of negotiating
- More exposure to potential buyers
If you aren’t in a rush to sell your diamond, using an online selling platform to sell your gemstone on your own might be a good choice. This is because selling a diamond online may result in a higher profit, but it also comes with heightened effort.
Always keep in mind that your safety is your number one priority when it comes to selling online and always be mindful of potential scammers.
Furthermore, a lot of people expect that they’ll be able to sell their diamonds for close to what they paid for them. However, this just isn’t the case. If you decide to sell your diamond online, you need to keep in mind that you most likely won’t receive nearly the amount that you paid for your gemstone.
Are You Ready To Sell Your Diamond?
Here are some checkboxes that we advise you to consider before deciding upon whether you should sell your diamond or not:
Set A Realistic Price
Having unrealistic expectations for your diamond’s price is the fastest way to disappointment. We recommend two approaches to determine an astute price.
First, if you’re having your diamond appraised, ask the appraiser how much the gemstone might be worth in specific markets.
Discussing pricing strategies is a big part of the benefit of an appraisal for resale customers. A professional appraiser will follow current market trends and can generally help you understand your diamond’s potential resale value.
Alternatively, you can do the legwork yourself. Look up the prices of completed online sales for diamonds with comparable characteristics; check out similar new diamonds in retail stores as well as online, and also factor in a discount for your pre-owned diamond.
Above all, keep in mind that in most cases, the only reason anyone will want to purchase your diamond is that they’re either going to sell it to make a profit out of it or because it’s a good bargain.
Investigate Your Selling Options
Diamond resellers generally have two options: to sell to the diamond jewelry industry or to the public. Picking a buyer isn’t always about getting the best price but is sometimes about how quickly you can settle a deal.
The main reason you should consider selling your diamond to someone in the diamond jewelry industry is time. If you’re looking to sell quickly and safely, target a jeweler, diamond dealer, or pawnbroker.
The downside to selling to a jewelry industry is that you’re highly unlikely to get top dollar. Since jewelers and diamond dealers intend to make a profit from your gem, they have zero reasons to pay anywhere near the diamond’s actual value.
Generally, members of the public will pay more for diamonds compared to the industry insiders because they’re looking to save some money on retail. The tricky part here is finding the right buyer.
Online selling platforms can bring success, but you’ll have the hassle of filtering out the scammers.
Also, you can consider giving your diamond to a consignment shop or dealer to sell for you. This way you might fetch a better price compared to selling to an industry insider as the stone will be sold to the public. However, the dealer will take a commission of anywhere between 25% and 40%.
If you decide to go down this path, be sure to obtain strong dealer references because when leaving your gemstone with someone else, you should be able to trust them completely.
Be Emotionally Ready To Sell
Since diamonds are often viewed as symbols of love and passion, they can be somewhat harder to part with than any other gemstone you might possess.
Nevertheless, you will have to leave your emotions behind when selling your diamond. Sentimental value may raise the diamond’s value in your eyes, but as far as a potential buyer is concerned, that is still just a diamond.
Related Read: How To Sell A Diamond Ring For The Most Money?
If you don’t know how to sell a diamond without a certificate, here is a recap:
While we believe that the best way to sell a diamond is to have it certified as this will increase the chances of it selling, however, you can always sell it to a jeweler or a pawnshop without needing a certificate. The main advantage here is that you’ll be able to sell it quickly.
On the flip side, jewelers and pawnshops usually offer smaller amounts, regardless of the certificate , because they have to make a profit out of your diamond.
You can also sell your diamond on an online selling platform. There you’ll most likely strike a better deal compared to selling a diamond to a jeweler, although, you’ll have to find someone who is genuinely interested in buying your diamond and won’t scam you.
Lastly, be realistic regarding the value of your diamond because you won’t get back what you paid for it, so be prepared to deal with selling at a loss.