If you’ve got a loose diamond or an antique piece of jewelry with a diamond in it that you no longer have use for, you may be wondering how much money you stand to gain from selling it. The first step in getting a general idea of how much a diamond is worth is by having it appraised by a professional, the process in which its value is ascertained. After this thorough assessment, an appraiser will present you with findings documenting various aspects of your diamond, including its weight, cut, and color. Learn more about what factors into second-hand market value appraisal for your diamond below:
What Is a Diamond Appraisal, and Why Do I Need One?
A diamond appraisal is a document that describes the stone’s physical features, assesses its quality, and assigns an estimated value to it. If you want to upgrade your jewelry or are simply looking to make some extra cash, a resale appraisal determines the fair market value of the jewelry for the purpose of valuing it with the intention of it being resold.
Selling Your Diamond: What’s Involved in a Second-Hand Market Value Appraisal?
Diamond appraisals are performed by experts who have an intimate understanding of the gemological makeup of diamonds themselves as well as their value. The appraiser will determine the 4Cs of your diamond, examine the ring setting, and materials used. Most importantly, the appraiser will look at market comps for price indications and refer to wholesale resources available to help them determine value.
When you want to sell your second-hand jewelry, the true value lies within the diamonds and precious metal. Factors such as labor and the original jeweler’s profit aren’t relevant, as they cannot be recuperated. That’s why, when looking for a second-hand market value appraisal, it’s imperative to put your jewelry in the right hands.
Where to Sell Your Diamond
Once you have your diamond appraised and are still interested in selling it, you may be wondering how to know where to sell a diamond ring in Massachusetts so that you can be sure to get a fair price. Rest assured our team is your solution! At The Jewelers & Loan Co., our specialists are highly trained and committed to granting you an accurate value appraisal. Our expertise ensures our customers receive the very best. You can sell small loose diamonds or diamond rings and necklaces for top dollar, no matter the condition of the stone. For more information, reach out to us today!