Are you ready to sell an old piece of diamond jewelry, or perhaps some loose diamonds? Prepared to make a profit in cash?
Maybe it’s a pair of untouched antique earrings you inherited from great aunt Mildred — the ones you’re wondering if you’ll ever actually wear (you won’t)…
Or the diamond necklace you got for your birthday 10 years ago that couldn’t be further from your style (sigh)…
Or maybe it’s the engagement ring that hung around long after your ex did.
Best place to sell diamonds: WP Diamonds
WP Diamonds is a quality diamond buyer (more details below). With an A+ BBB rating, and Brinks insurance up to $150,000. WP Diamonds buys your diamond of at least .5 carats directly — and pays within 24 hours of an accepted offer. Check out WP Diamonds now >>
Who buys diamonds?
If you are interested in selling your diamond jewelry or a loose diamond, jewelers, pawnshops, wholesale diamond brokers, and antique dealers are common options that offer the opportunity to sell your stone in person; but going this route can make shopping around for the best offer difficult. Online diamond buyers are an increasingly popular choice (pandemic lockdowns notwithstanding),
Selling your diamond to online buyers typically works like this:
- Sites including WP Diamonds require you share details and photos of your diamond, or upload a copy of your grading report.
- With the information you upload, they can evaluate and offer an estimate of the resale value.
- If they are interested in working with you, and you are interested, they will send you a FedEx mailer so that you can mail your diamond jewelry.
- WPDiamond then sends you an offer.
- If you accept, you are paid within 24 hours.
What about selling to an online diamond buyer?
Today, there are many online platforms that will help you sell your diamond jewelry and diamond ring. While many are reputable and safe, Worthy is unique in that it is a marketplace, or a jewelry auction that will professionally photograph your jewelry, provide a 100% free certified lab report from GIA or IGI, and market your item on a live auction to hundreds of vetted buyers around the world. Often, this means driving up the price to a true market rate, opposed to defaulting to a single offer from your local jeweler, or another diamond buyer.
Best diamond buyer: WP Diamonds
WP Diamonds is a leading diamond ring and loose diamond buyer, and it’s easy to see why.
With a BBB rating of A+ and a credible reputation in the diamond market, WP Diamonds is fair and reliable. It is one of the older diamond buyers in the online space, and has a good reputation.
So, if you have a diamond that’s at least half a carat, WP Diamonds is a safe online buyer of loose diamonds and jewelry.
How WP Diamonds works
WP Diamonds stands out because of its exhaustive appraisal.
At WP, you don’t mail in your ring and get a quote with a flat insurance fee on your package.
Instead, you provide as much information on your ring as you can, from carat weight and color to appraisal papers if you have them.
Then, the diamond experts determine a price quote and shipping insurance value based on those factors.
With a rough estimate in mind, you mail in your diamond with their free and fully insured shipping and receive an official offer the next business day.
Their entire process can take as little as 24 hours from initial inquiry to receiving payment.
You then take or leave their offer, either receiving money or your diamond back based on your decision.
Like its competitors, WP Diamonds sells wholesale diamonds to other diamond brokers.
Once you accept the offer, the deal is closed and you can say goodbye to your diamond.
Pros of WP Diamonds
- A+ BBB Rating and over a thousand customer reviews
- Security ensured by free, FedEx round-trip shipping with insurance up to $150,000
- Close contact with your dedicated client services representative throughout the process
- User-friendly website and estimate tools
- Meticulous diamond appraisal process
There are no fees or commissions deducted from WP Diamond’s final offer made. Their offer is what you receive in payment.
Cons of WP Diamonds
- WPD bases your price on the current second-hand diamond market and their team of GIA trained gemologists, not an online market’s worth like Worthy which is dependent on people bidding.
- WP doesn’t use GIA or other certified outside appraisers, but an in-house appraisal team.
Takeaway: WP Diamonds is great if you are looking for a fast, streamlined and firm offer on your diamonds or diamond jewelry. Read my complete WP Diamonds review.
Other top diamond buyers
When it comes to selling your fine jewelry or loose diamonds, there’s no shortage of scammers on the market.
Determining which diamond buyers to avoid and which ones to trust is daunting.
I’ve taken the guesswork out of bartering your baubles, researching the good, the bad, and the ugly in the diamond-selling world.
And I found that there are some quality reputable diamond buyers that make it easy and safe to get the most cash for your loose diamond or diamond jewelry.
Diamond buyer: CashforDiamondsUSA
What if your diamond is smaller but still worth selling? What about a gold, platinum or silver wedding ring or bridal set?
CashForDiamondsUSA buys all gold, silver, platinum, diamond and gemstone jewelry, regardless of price. CashForDiamondsUSA pays within 24 hours, has a BBB rating of A+, pays a 10% bonus if you ship within 7 days, and was found by a Fox Business investigation to pay 3X the competition.
Whether you are selling your gold jewelry, ring, dental fillings, gold coins or silver, CashforDiamondsUSA and its sister site, CashforGoldUSA are quality businesses that I have used myself.
Is Cash for Diamonds legit?
CashforDiamonds USA is owned by C.J. Environmental, which has an A+ rating with the BBB, and has paid out more than $55 million for gold and diamonds. CashforDiamonds sells to wholesale diamond buyers.
How CashforDiamondsUSA works
Like Worthy, CashforDiamondsUSA operates on a pretty straightforward system. A few years ago I searched for places to sell gold near me, as after my divorce I had a small gold and diamond ring that I no longer wanted.
I checked out CashForDiamondsUSA because it has a A+ BBB rating, and was found by a Fox Business News investigation to pay out three times its competitors. It was really easy:
- I just went to the site, entered my address, and waited for a mailer to arrive.
- Two days later I received a USPS mailer in the mail. You can also opt to use a FedEx label. Both insure your item for up to $100,000, and come with a tracking number.
- Popped my ring in the mailer, and then the mail.
- Within a day, I got an email with an offer for my ring. I accepted and within 24 hours received a PayPal deposit for 10% more than I was quoted, as a bonus for shipping within 7 days.
That was my experience, but you can set up the process by email or phone.
Like I did, you can opt for an email offer, which you’ll receive as soon as your diamond is appraised.
You can then accept or reject it online.
Accept, and your check is mailed within 24 hours. Decline, and you’ll get your jewels back with priority shipping.
You can also get a call from the company with your offer. Whether you accept or decline, you’ll get your check or ring back ASAP.
So here’s the breakdown of the best and worst qualities of CashforDiamondsUSA.
Pros of CashforDiamondsUSA
- Payment within 24 hours
- Established with more than 30 years in the business
- A+ Better Business Bureau rating
- Simple, straightforward selling process
- Make quick cash on diamonds of all sizes
- Also get cash for your gold, platinum, watch or other jewelry
- Expert appraisals
- Free insurance up to $5,000 — as well as up to $100,000 for some cases
- 100% satisfaction guarantee
- 10% bonus above the estimate if you send in your item within 7 days
Cons of CashforDiamondsUSA
- Not your best option for selling expensive, high-carat diamonds
- You may want to check out local jewelers, gold buyers, a diamond exchange or other places that buy gold near you, though pawn shops pay pennies of what CashForDiamondsUSA or Worthy pay.
Takeaway: If your diamond is modest and you’re ready to see it go, you should give CashforDiamondsUSA a try.
How it works:
Diamond buyer: Worthy.com
Featured in Forbes, the New York Times, AARP, The Today Show, and Inc., and touting an A+ from the Better Business Bureau, Worthy has established itself as the premier diamond jewelry buyer as well as loose diamond buyer.
Worthy is unique because it’s a true marketplace, meaning the company sells your diamonds in an online auction with global buyers.
Behind every action, the diamond company stands on, according to Worthy.com:
“Transparency, Integrity, Privacy, Convenience, Stellar Service, and High Value Deals.”
Let’s look at some of those values a little more closely, and I’ll tell you why I support Worthy as a loose diamond buyer, as well as a diamond ring buyer.
Pros and cons of Worthy.com
Transparency is one of the main features promoted by Worthy: When you sell with Worthy, you’re kept in the loop every step of the way.
As soon as you enter the dimensions and description for your diamond on their website, Worthy sends you a trending price of similar items recently sold. This is a dollar sum you can expect to receive based on the information you sent through the site.
Once you mail your diamond jewelry or loose diamond to Worthy, they send it for either a laboratory or diamond grading report. The GIA does not perform appraisals, valuations or assign a monetary value to any of the goods they issue reports for. at the Gemological Institute of America (the most credible, world-renowned appraiser on the market). All GIA laboratory reports do not include a dollar value. The dollar value is assigned by Worthy’s team of expert lab gemologists using the information provided in the diamond grading report for valuation.
Also, at every single step of the process, you receive email and text notifications of the location of your jewelry. You never have to worry about it being lost or stolen, as it is sent through FedEx, and insured with Lloyd’s of London for $100,000.
If your diamond resale value is at least $1,000, you’re eligible to sell on Worthy.
And even if it doesn’t or you opt out of selling with Worthy, you’ll know how much your ring is actually worth.
Your item will then be put to the company’s global marketplace, where hundreds of professional diamond buyers will bid for your jewelry. This is an important part of the process, because it ensures that you get top, market price for your jewelry.
By comparison, if you were to sell to a local jeweler, or one of the other top-ranked diamond buyers on the Internet, you are at the mercy of just one appraisal and one quote.
A downside of Worthy is that while they pay within one business day of completion of sale, the auction process takes longer than other online buyers who pay within 24 hours
Is Worthy.com safe?
Aside from getting your money’s worth, security is likely at the top of your list of concerns.
I took a trip to Worthy’s headquarters recently and saw that video security made sure that all items received and shipped there are accounted for. Rooms, where jewelry was received and appraised, were very tightly controlled.
Again, Worthy insures your diamond up to $100,000 and ships it with FedEx. You receive tracking information every single step of the way.
What if I change my mind with Worthy?
With a Paypal payment system, Worthy processes payments in 1 business day after the sales is finalized.
If your buyer does a bank transfer, you’re guaranteed your money within 2 business days, and with a check, you’ll receive payment within 5 business days.
Here’s how Worthy works:
After you get your appraisal from GIA, you have a few options:
1. Your first option is to sell your diamond for Worthy’s valuation based on the GIA diamond grading report and recent competitive marketplace value. You’re then guaranteed by Worthy to receive that minimum price. If it ends up selling for more, you’ll get the highest value.
It’s a safe bet if you’d prefer to leave it to the experts.
2. If you think your diamond is worth more than the valuation, you can set your own minimum. The catch here is that the market value isn’t guaranteed.
The piece may end up selling for higher or lower than Worthy’s estimate based on the GIA diamond grading report. It’s then up to you to decide which bid to accept.
3. Your last option is to create a buy-it-now price. If you’re really ready to ditch your diamond, you can set a price that, once offered, will automatically win the bid and close the auction.
How fast do you get paid with Worthy?
You can get a PayPal transfer within 1 business day of completion of the sale, bank transfer within 1 business days, or a paper check will be sent within 5 business days. The entire process takes about a week.
How Worthy makes money
Worthy makes its money from commission. Rather than offering a flat fee, Worthy’s rates change based on how much your diamond is worth.
Worthy.com gets paid via a commission on the sale price of your valuable. Here is their commission fee schedule:
|Sale price of your item||Commission fee|
|Up to $5,000||22%|
|$5,001 – $15,000||15%|
|$15,001 – $30,000||15%|
|Jewelry Box (3 or more valuables)||22%|
Worthy customer service
Worthy’s customer service representatives are dedicated to answering any questions you might have about selling your diamond jewelry or loose diamond.
Go to Worthy.com right now, and once you land on their homepage you’ll get a pop-up chat from the customer support team.
If you choose to interact with them there, you can connect via phone or text.
These representatives are friendly, easily accessible, and extremely knowledgeable about what they do.
If you need more convincing, go to Worthy’s site and read the hundreds of reviews posted there.
Takeaway: Worthy is a boss in the diamond buying business. There is a reason their brand recognition has skyrocketed in just a few years. They really are the leaders in price, customer service, customer experience and overall quality.
Diamond buyer: Circa (formerly Mondiamo)
Mondiamo was a relative newcomer to the diamond buyback market which partnered with BlueNile, a retail leader in the online diamond engagement ring world.
In early 2020, Mondiamo merged with a competing company, Circa. Circa has maintained Mondiamo’s relationship with BlueNile and has an A+ rating with the BBB.
Circa accepts high-end branded jewelry, as well as diamonds of at least .4 carats, and diamond engagement rings. They will also purchase historical or estate jewelry including pieces such as: Antique, Edwardian, Georgian, Art Nouveau, Belle Epoque, Art Deco, Retro, Modern.
Circa has 14 physical locations (11 in the U.S. and 3 international), if you prefer you can schedule an appointment for an in-person evaluation of your jewelry. Whether in-person or online, if you accept the offer on your loose diamond or diamond ring, you will be paid immediately
If you provide a grading report from the GIA, EGL, IGI, AGS, GSI, GCAL, IIDGR, or HRD, Circa provides a guaranteed offer range. Once you mail in your jewelry, Circa is able to guarantee a final offer that falls within this range. The company claims that more than 90% of its customers receive a final offer price higher than the midpoint of the guaranteed range (which includes shipping and insurance). Mondiamo’s 15% fee is already calculated into the range.
- Work in partnership with diamond retailer BlueNile, and promise to offer a high fee by cutting out the middleman
- Better Business Bureau rating of A+.
- Website’s videos and posts create transparency.
- Fully insured FedEx delivery — both from you to Circa, as well as returns, when relevant.
- They only deal in jewelry with a diamond of at least .4 carats.
- If you do not have a lab report, you must send in your item for evaluation and grading before an offer is made.
- That offer is good for just 7 days, after which you have to start the whole process over again.
In short, Circa is a solid company that brings the BlueNile experience full circle, promising to offer jewelry sellers high prices by removing the middleman.
Diamond buyer: The Diamond Valet
TheDiamondValet.com is a stripped-down version of other, much more robust diamond buyback sites.
The Diamond Valet has a B- rating with the Better Business Bureau, which reports the diamond ring buyer has been in business since 2013, though the website says the company has more than 100 years of jewelry business experience.
Pros of The Diamond Valet
Cons of The Diamond Valet
- Just one estimate, unlike the marketplace model
- Payment takes longer since they only send paper checks — no PayPal or bank transfer.
- No third-party appraisal. You are at the mercy of the price they offer you.
The Diamond Valet vs Worthy
As is the case with many other buyers on this list, The Diamond Valet will evaluate your jewelry and make you an offer based on what they believe the value of the piece to be. They provide just one offer, which you can take or leave. Worthy, as a jewelry auction site, doesn’t buy your jewelry directly. While they will provide an estimate on what they believe your jewelry will sell for, how much you make will be driven by the buyers who bid on your item. Items can sell for substantially above Worthy’s initial estimate, which means more money in your pocket!
While The Diamond Valet only accepts jewelry and loose diamonds that are at least .75 carats in size, Worthy accepts any piece which fits its standards and which it believes will sell for at least $1,000. Typically, this would equate to any piece of jewelry with a diamond of at least .5 carats.
Additionally, while Worthy will work with you to sell high-end jewelry whether it includes diamonds or not, The Diamond Valet, as its name implies, is only interested in purchasing diamond jewelry.
The Diamond Valet vs CashForDiamondsUSA
If the jewelry you’re selling doesn’t involve diamonds, then The Diamond Valet isn’t for you. While Worthy is a great option when selling higher end jewelry, CashForDiamondsUSA can be a great alternative for pieces which don’t meet Worthy’s $1,000 price minimum. And because CashForDiamondsUSA pays within 24 hours of you accepting their offer, it’s also a great option when you need cash fast and can’t (or don’t want to) wait for an auction.
Diamond buyer: Diamond Buyers International review
Diamond Buyers International only deals in diamond jewelry and loose diamonds, so if you have any other kind of jewelry, head to Worthy or elsewhere.
The process is similar to some of the other diamond wholesale buyers: Go to DiamondBuyersIntl.com, get an estimate, request a mailer, and send in your diamond jewelry.
Then, according to the site:
Your Secure FedEx package is insured for up to $5,000, and we’ll send you a tracking code as soon as it hits the FedEx system. You’ll receive a notice as soon as we receive your package, and an official offer within 24 hours.
You’ll receive our offer within 24 hours via email with an automatic secure login to accept or deny the offer. If you accept, we’ll send a check, direct deposit, or PayPal payment of your choosing instantly. If you deny, we’ll send your jewelry back at no cost, no questions asked.
Like most other jewelry buyers, Diamond Buyers International’s commission is mysterious — an unknown percentage of the fee you agree to.
Diamond Buyers International pros:
- This is an established business, founded in 2008 and has an A+ Better Business Bureau rating.
- 30-day review period
Diamond Buyers International cons:
- They insure jewelry you ship up to $5,000, whereas Worthy insures any jewelry you send up to $100,000.
- You’re at the mercy of the company’s appraiser to generate the suggested price. Compare this to Worthy.com, which puts your jewelry on an international marketplace, where hundreds of buyers compete for your valuables.
- The website is old and not very user-friendly, and there is very minimal information about the company and their processes and policies.
- No chat or text correspondence.
Takeaway: Diamond Buyers International is a solid site, but there are much better options out there with more dynamic sites, services and opportunities to get top-dollar for your jewelry.
Diamond Buyers International vs Worthy
Diamond Buyers International only buys diamond jewelry and loose diamonds, while Worthy will help you sell jewelry with or without diamonds. For this reason, if you’re looking to sell high-end jewelry that doesn’t include diamonds, Worthy is a better choice. By comparison, though Worthy provides an estimate of what they think your item can sell for, the final price is determined by the hundreds of buyers who bid and buy through their platform, who can ultimately drive the price higher.
Diamond Buyers International vs CashForDiamondsUSA
Like Worthy, but unlike Diamond Buyers International, CashForDiamondsUSA will also buy your jewelry whether or not it contains diamonds. While we recommend Worthy for higher-end jewelry that may fetch top dollar through auction, CashForDiamondsUSA is a great alternative for items that don’t meet Worthy’s minimum value threshold of $1,000, or for those who want money in their pockets faster than an auction may allow.
Conclusion: Just trade your diamonds for cash!
Diamond buyer: Abe Mor
Located in New York City, but doing business everywhere through the company’s website, Abe Mor is a popular and well-known diamond buyer.
The company has an A+ rating with the Better Business Bureau, and their record has zero customer complaints lodged against it. If you choose to sell your diamond through them, you can rest assured that they are a reputable company.
Like WP Diamonds, the company specializes in diamond jewelry. In addition to loose diamonds, the company will purchase any jewelry that contains a diamond of at least 0.3 carats in size. If your jewelry does not contain a diamond, though, then Abe Mor will not purchase it. In that case, our suggestion is to sell with CashforDiamondsUSA.
How Abe Mor Works
Selling your loose diamond or diamond jewelry through Abe Mor is very similar to most of the other buyers on this list.
- Visit the Abe Mor website and click “sell”.
- Complete a short form, including your name and contact information. You can provide images of your loose diamond or diamond jewelry, as well as a grading report, if you have them. Though they are not required, they can aid in the evaluation process and result in a more accurate initial offer.
- You will receive an initial offer by email for your item within 2-3 business days.
- If you choose to move forward, Abe Mor will provide you with a shipping kit and instructions on how to ship your item for final evaluation.
- Upon receipt of your item, a final examination will take place and you will receive a final offer.
- If you accept the offer, you will be paid within 2-4 business days. If you reject the offer, then Abe Mor will ship your item back to you immediately.
Abe Mor reviews
Abe Mor has an A+ rating from the Better Business Bureau, where it has been accredited since 2016. Abe Mor is not listed on TrustPilot, but does have a 4.5-star rating from Yelp, based on 36 reviews.
Pros of Abe Mor
- A+ BBB Rating and 0 customer complaints
- Items are insured by FedEx and Brinks for up to $25,000, with additional insurance available if necessary
- Diamond grading reports are not required, though accepted
- Clean, modern, and easy-to-use website
- Relatively quick 2-4 day payment upon acceptance of an offer
Cons of Abe Mor
- Like other diamond buyers on this list, their final offer to you is based on a single evaluation (as opposed to an auction of multiple buyers)
- Evaluations are conducted by in-house Abe Mor staff, not third-party lab reports such as the GIA
- Only accepts diamonds at least 0.3 carats in size, which may not apply to you
- Time from shipment to payment is much longer than other sites that promise 24-hour payment.
The takeaway is that Abe Mor is a reputable diamond buyer with more than 50 years of experience in the industry. But they really don’t stand out from most other buyers on this list.
Abe Mor vs Worthy
Like most of the other buyers on this list, Abe Mor purchases your item from you outright, based off of a single, in-house evaluation of your jewelry. Worthy, on the other hand, does not purchase your item (though they do offer an estimate of the value of your item). Instead, the final sale price of your item is dependent on the bids that it receives from the buyers using Worthy’s auction platform, which can sometimes be even higher than Worthy’s estimate.
Because Abe Mor only purchases loose diamonds and diamond jewelry, if you’re looking to sell jewelry that doesn’t contain diamonds, they won’t purchase it. Worthy, does purchase high-end jewelry with or without diamonds, as long as it will sell for $1,000 or more.
Abe Mor vs CashForDiamondsUSA
If the jewelry that you’re selling doesn’t include diamonds, or doesn’t meet Abe Mor’s minimum 0.3 carat weight requirement, CashForDiamondsUSA (and its sister site CashforDiamondsUSA) is an excellent alternative, as they do not have a minimum carat weight. CashForDiamondsUSA also pays exceedingly fast—within 24 hours of your accepting their offer—which can be helpful when you need cash fast and can’t wait. CashForDiamondsUSA is our go-to recommendation if you are selling gold or smaller diamond or gemstone jewelry, as they do not have a minimum value.
Diamond buyer: I Do Now I Don’t
I Do Now I Don’t is a unique entry in this list because it allows you to sell your jewelry directly to the public — it is not a loose diamond buyer or a diamond ring buyer.
The company offers two options for sellers:
- Accept their offer and sell your diamond directly to I Do Now I Don’t, or,
- List your diamond on their online marketplace, where you can sell directly to a retail buyer — much like eBay.
Though the company has been around for more than 13 years and is led by Chris Del Gatto, a well-known figure in the diamond industry, I Do Now I Don’t is not accredited with the Better Business Bureau and does not have a BBB score. The company does, though, carry more than 100 customer complaints in their BBB file.
While I Do Now I Don’t specializes in diamond jewelry and loose diamonds, they occasionally accept jewelry without diamonds.
How I Do Now I Don’t Works
Selling your diamond or diamond jewelry with I Do Now I Don’t will vary depending on which route you choose to take.
If you want to sell your diamond directly to the company, the process looks like this:
- Send an email to [email protected] with a brief description of your jewelry or diamond and any photos or documentation that you have available, such as a GIA lab report.
- Within 24 hours, an in-house buyer will email you a preliminary offer on your item.
- If you decide to move forward, send your item to them (at your own expense) for an in-house evaluation, at which point you will receive a final offer.
- If the final offer is below the preliminary offer originally provided, and you decline the new offer, then I Do Now I Don’t will return the item to you at no additional cost. If the final offer is not below the preliminary offer and you still choose to decline, you will be charged $20 for return.
- If you accept the offer, payment will be issued to you by check on the 15th of the following month.
To list your item on their marketplace:
- Create a free online account through their website.
- If you have already conducted an appraisal for your item or know how much you want to list it for, you can immediately submit your listing. If you do not know what your item is worth, request a suggested listing price by emailing [email protected] with a brief description of your item and any photos or documentation that you have available. Ultimately, however, the price that you list your item for is up to you.
- If your item sells, you must ship it to I Do Now I Don’t, at your own expense. They recommend using USPS, as the company insures packages for up to $25,000. By comparison, CashForDiamondsUSA and Worthy both provide free overnight, round-trip shipping insured up to $100,000 by Lloyds of London.
- Upon receipt, I Do Now I Don’t inspects your item to ensure that it matches the description in your listing. If it does not, then they will contact the buyer and let them know the results, at which point the buyer can either accept the item, request a refund, or negotiate a different price.
- Payments are issued on the 15th of the following month after the sale.
- I Do Now I Don’t charges a commission between 10% and 20% depending on the sale price of your item.
Additionally, a VIP selling service is available at no extra charge for items that are valued at $5,000 and higher. VIP listings receive an appraisal certificate, insured shipping, complementary cleaning and photography of the item, and are designated with a crown icon on the marketplace. This service comes with a flat 25% commission.
Pros of I Do Now I Don’t
- Choice between direct sale or marketplace listing
- Possibility to sell item for much more through online listing
- You choose the sales price
Cons of I Do Now I Don’t
- Not accredited with BBB
- Many customer complaints
- Website is confusing and the sales process is not always clear
- Direct sale is based off of a single, in-house evaluation
- Payment is slow
- VIP selling service is only available for items valued to be worth at least $5,000
- Unless you opt into VIP selling service, you are responsible for shipping and insurance costs
Offering multiple routes to sell your jewelry, I Do Now I Don’t has made a name for itself in the second-hand diamond jewelry space. But for a number of reasons listed above, it isn’t our top choice for either direct sales or for auctioning.
I Do Now I Don’t vs Worthy
I Do Now I Don’t and Worthy are similar in that they each offer an online marketplace platform through which you can sell your loose diamond or jewelry. How these platforms work, though, are substantially different.
I Do Now I Don’t offers a retail platform that is very similar to eBay. You list your item and, if someone is interested, they will make you an offer. In the end, the final sales price is determined by what a single buyer is willing to pay.
Worthy’s platform, on the other hand, connects you to wholesale buyers that bid on your item through an auction. How much you earn will therefore be dependent upon whatever multiple professional diamond buyers are willing to pay—opposed to a single retail buyer.
Additionally, when you choose to list your item through Worthy, Worthy performs certain services completely free of charge, all of which are the IDNID sellers’ responsibilities:
- Lab report
These services are only available on I Do Now I Don’t if your item is worth at least $5,000 and you opt into the VIP selling process, which charges a high commission of 25%.
Finally, while I Do Now I Don’t pays just once a month, on the 15th of the month following a sale, Worthy pays within several business days of making a sale.
I Do Now I Don’t vs CashForDiamondsUSA
I Do Now I Don’t requires that all listings have a value of at least $250. If your item falls below this minimum requirement, CashForDiamondsUSA and its sister site CashforDiamondsUSA can be a great alternative, as they do not require a minimum value to purchase your diamond or diamond jewelry and pay for free, insured round-trip shipping. CashForDiamondsUSA pays within 24 hours of you accepting an offer.
Also, CashForDiamondsUSA accepts all kinds of diamond, gold, gemstone, platinum and silver jewelry, while I Do Now I Don’t is focused on diamonds.
Diamond buyer vs. diamond exchange
If you’re looking to sell your diamond, you may come across the terms diamond buyer and diamond exchange. We review what each of these terms means below.
What is a diamond exchange?
Most typically, the term diamond exchange is used to refer to a place where diamonds (loose or mounted) can be exchanged—either for cash or, in some cases, trade.
While the term may have originally been associated with diamond bourses (places where diamonds are traded by industry insiders) this isn’t really the case anymore. Today, the term “diamond exchange” is most synonymous with brick-and-mortar jewelry shops, as evidenced by the number of businesses which weave the term into their name.
What is a diamond buyer?
A diamond buyer is exactly what it sounds like: A business which purchases loose or mounted diamonds in order to resell those diamonds at a profit. Diamond buyers may resell a stone or piece of diamond jewelry directly to consumers or to industry insiders. While some diamond buyers may operate physical locations (such as a storefront), many of today’s most popular diamond buyers do most of their business online.
Frequently asked questions about diamond buyers
When choosing an online diamond buyer, consider their BBB rating, whether they provide a GIA report (opposed to a subjective in-house appraisal), if they offer a single price vs. putting your diamond to a marketplace of hundreds of buyers, and the insurance, shipping and return policies.
|Jewelry buyer||Multiple bids?||Time to cash||Insurance|
|Worthy||Yes||5+ business days||$100,000|
|CashforDiamonds USA||No||24 hours||$100,000|
|No||1 business day||$100,000|
|Diamond Buyers International||No||No||$5,000|
|Abe Mor||No||2-4 business days||$25,000|
How much do diamond buyers pay?
A jeweler or other diamond buyer must make a profit on any diamonds purchased, so expect a jeweler to offer you half or less of what you paid for your diamond.
If the stone is an unpopular cut — for example, a marquise shape, or an old-mine or rose-cut stone — the price may be less than a more popular cut.
This post goes into detail about how to understand the resale value of diamonds.
Lab grown diamond buyers
None of the diamond buyers purchase lab-grown diamonds, which are technically a diamond, but far less expensive to buy — and even less valuable on the buyback market. Adadiamonds.com buys laboratory-made diamonds.
Searching diamond buyers near me?
Many people prefer to sell their precious diamonds, gemstones and jewelry to a local diamond buyer near them. This is understandable.
How to find a diamond buyer near me
You can do some research on local diamond buyers before you sell locally via:
- Word-of-mouth — who do your friends trust?
- Google reviews
- Better Business Bureau reviews
Keep in mind that online diamond buyers, including Worthy.com and CashForDiamondsUSA, send free FedEx shippers to your door, as well as free pickup, so that convenience cannot be beat. Both guarantee highest price, and will pay for return shipping if you choose not to sell.
Diamonds buyers in New York City
If you are in New York City as a resident or visitor, you are welcome to visit the offices of Worthy and Circa (once the city opens after the Covid-19 shutdown).
Before and after the Covid shut down, you can also visit the famous Diamond District on 47th Street in Manhattan to enquire about any local jewelers who buy diamonds.