There are a number of things about diamonds that make them great if you need to sell. First and foremost, it’s nearly impossible to damage a diamond. Diamonds are the most durable substance on Earth so the diamond set on a ring fifty years ago is very likely to look exactly the same today. What this means is that diamonds have value that’s hard to diminish with wear.
But how do you sell them?
First and foremost, if you have GIA certification with your diamond, it will be far easier to understand the value. You’ve probably heard of the “Four C’s” before. Those are the standards for evaluating diamonds. Cut, clarity, color, and carat weight. The Gemological Institute of America (GIA) set the standard for analysis of diamond quality, and if you have certified diamonds, you’re ahead of the game.
If you don’t, you’re treading water.
Let me explain what I mean there. With certification, you have an industry standard readily available that indicates the quality of the diamond. It’s no longer about anybody’s opinion of the quality. It’s no longer about anyone’s opinion of the color or the cut. The GIA standardized all of that so that everyone in the diamond industry speaks the same language.
Here’s a good way to think about it. GIA certification eliminates all of the questions involved in the diamond sale except for two. What is the market value of the diamond and what is the buyer willing to pay? The first question is easy to answer. With a GIA certification, you have the ability to compare apples to apples between your diamond and others that have sold. As for the second question, you’re able to work out with your buyer a fair discount so they can make money when they sell to another customer.
The good news is that you can get in touch with the Gemological Institute of America via their website and the cost of certification is usually only a few hundred dollars. It’s always a good idea, I think, especially with larger diamonds. If you have a diamond that isn’t GIA certified, I believe you should have it certified before you sell it.
And, of course, I hope after you do that, you’ll come and see me. If you want to sell a diamond in San Diego, drop by our La Jolla showroom or give us a call. If it’s not GIA certified, we’ll still take a look at it and make you an offer. Come see us. You’ll be glad you did.
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