Gemstone Appraisals Center

How To Sell A Diamond Question: I have a 1 carat pear shape diamond not in a setting.

Tiffany Diamonds

Price: $30.42 USD

It is excellent quality and although I know you can't tell by looking at it, I would like to know the best way to sell to get the most money out of it.

thank you for your help.

Answer: G'day Pamela and many thanks for your query

One of the main problems with selling any gemstone or jewelry item is people's perceived value.

They get an appraisal for an item for say $100 dollars, and expect to sell it for $80 or $90 when in reality, it may only fetch between 10% percent to say 60% percent of the appraisal figure ($10 - $60 bucks).

This is partly due to the fact people don't understand that an appraisal price is for INSURANCE only and has NOTHING to do with the retail or second-hand value.

How many times have you seen your local jeweler selling stuff at half price?

So what's the real value?

There isn't one. It's a trade off between you - as a WILLING SELLER and the person who pays a price as a WILLING BUYER.

As mentioned above - it could be as low as 10% from the Pawn Broker, to as much as 60% or even 70% from an avid collector.

So as an EXAMPLE (NOT real figures) say your diamond was valued at $6000 dollars - You might only get between $600 to at most - $4000 approx. And even then you have to find that WILLING BUYER.

Not easy.

You might like to look on places like eBay and see what prices they are selling for. Don't forget that these prices are NOT always real and there are costs to come out of it too. Don't pay any attention to the $1 No Reserve - that's a con.

Your local FRIENDLY jeweler may be interested, but remember they can buy diamonds from their supplier on a 90 day invoice AND get a Trade price as well. This could be as low as 40% of the retail price.

The one thing I would NOT suggest is an advert in your local paper. You don't want just anyone to come into your home, knowing there is a valuable diamond there. You don't want them seeing what else you have either. So please DON'T go down that road.

Is there an auction house near you who specialize in gemstones or jewelry. Their gemologist would be able to tell you what they expect to get for it on the open market.

A private sale is always the best way for value if you know of someone who is looking for something just like this. Perhaps you have a relative who is thinking of getting engaged? Why not offer them the gemstone and suggest they have it made into a perfect design.

There is an old saying in the Gemological and Valuation fraternity and that is the simple question "How desperate are you?"

If you have the time - you will eventually get a better price. If you are desperate - the Second-hand dealers and Pawn Brokers will eat you alive - That's how they make their living.

If the money isn't the main priority - what about having it made up into something for you, or something to hand down to a loved one as a very special family heirloom.

Hope all this helps...