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.
Worthy.com is a quality diamond buyer (more details below). With an A+ BBB rating, Lloyds of London insurance up to $100,000, free GIA lab report, and live auction where hundreds of verified buyers bid up the price of your loose diamond and diamond jewelry, Worthy will sell your diamond of at least .5 carats to its marketplace of buyers.
Who buys diamonds?
- Diamond buyer vs. diamond exchange
- Where to sell diamonds
- Top diamond buyers
- Diamond buyer: Worthy.com
- Diamond buyer: CashforDiamondsUSA
- Diamond buyer: WP Diamonds
- Diamond buyer: Circa (formerly Mondiamo)
- Diamond buyer: The Diamond Valet
- Diamond buyer: Diamond Buyers International
- Diamond buyer: Abe Mor
- Diamond buyer: I Do Now I Don’t
- Online diamond buyers
- Gemstone buyers
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.
Where to sell diamonds
If you are interested in selling your diamond jewelry or a loose stone, jewelers, pawnshops, 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 Worthy.com require you share details and photos of your diamond for them to evaluate and offer a rough estimate of the resale value. If they are interested in working with you, and you are interested, they will send you a FedEx mailer. From there, they will provide a free GIA report, and put your item up for auction, after you have set parameters for the price.
- Sites like CashforGoldUSA will overnight you a FedEx or USPS mailer without requiring a photo or other information about your diamond. You send in your diamond, they send you a quote by phone or email, and if you accept, you are paid within 24 hours. If you choose not to sell, they return your item immediately, at no cost to you.
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.
Top diamond buyers
When it comes to selling your fine jewelry, 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 wonderful, reputable diamond buyers who will make letting go a little bit easier (or, in some cases, a LOT easier!).
Relax, read on. These companies top the list of the best diamond buyers on the market.
Diamond buyer: Worthy.com
Topping the list, as you may have already guessed is my go-to answer for selling your diamond is the online 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 tops the competition because it’s a true marketplace, meaning the company sells your diamonds in an online auction with global buyers.
Worthy.com says it best on their website.
Behind every action, the diamond company stands on:
“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 so much.
Pros and cons of Worthy.com
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 an official appraisal at the Gemological Institute of America (the most credible, world-renowned appraiser on the market). There the GIA will create an official report about your jewelry and diamond, including its dollar value.
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?
Like I said, selling with Worthy is a very easy process.
With a Paypal payment system, Worthy processes payments in 1 business day.
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 GIA’s appraisal price. 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 appraisal, 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 GIA’s estimate. 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.
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: CashforDiamondsUSA
What if your diamond is smaller but still worth selling? What about a gold, platinum or silver wedding ring or bridal set?
You may have been really excited reading about Worthy, right up to to the point when I said they only buy jewelry worth $1,000 or more.
Like diamond engagement rings and other fine jewelry, the marketplace for selling gold online has grown and improved tremendously in years. 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 the same parent company of CashforGoldUSA , C.J. Environmental, which has an A+ rating with the BBB, and has paid out more than $53 million for gold and diamonds.
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 CashforGoldUSA.com 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
- Meticulous expert appraisals
- Free insurance up to $5,000
- 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 CashforGoldUSA 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: WP Diamonds
WP is a popular 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.
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 an insurance policy and cost based on those factors.
With a rough estimate in mind, you mail in your diamond and wait for an official offer.
While WP might take a little bit longer, their meticulous process can benefit you in the long run and get you the most money.
You then take or leave their offer, either receiving money or your diamond back based on your decision.
In this sense, WP Diamonds is like Diamond Buyers International; however, unlike their competitor, WP Diamonds offers no guarantee period.
Once you accept the offer, the deal is closed and you can say goodbye to your diamond.
Pros of WP Diamonds
- A+ BBB Rating
- Security ensured by FedEx round-trip shipping and insurance up to $100,000
- Close contact with appraisal team throughout the process
- User-friendly website and appraisal tools
- Meticulous diamond appraisal process
Cons of WP Diamonds
- Like all the mail-in online diamond buyer services on this list, WP bases your price on one appraisal, not a market’s worth like Worthy.
- WP doesn’t use GIA or other certified outside appraisers, but an in-house appraisal team.
Takeaway: WP Diamonds is great if you’re looking for a local jeweler type of experience with a credible and qualified buyer, but is limited beyond that. Read my complete WP Diamonds review.
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 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, 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 jewelry 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 CashforGoldUSA
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, CashforGoldUSA can be a great alternative for pieces which don’t meet Worthy’s $1,000 price minimum. And because CashforGoldUSA 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 sites: 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, 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 CashforGoldUSA
Like Worthy, but unlike Diamond Buyers International, CashforGoldUSA 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, CashforGoldUSA 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.
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.
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 appraisers 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 CashforGoldUSA
If the jewelry that you’re selling doesn’t include diamonds, or doesn’t meet Abe Mor’s minimum 0.3 carat weight requirement, CashforGoldUSA (and its sister site CashforDiamondsUSA) is an excellent alternative, as they do not have a minimum carat weight. CashforGoldUSA 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. CashForGoldUSA 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.
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 item directly to the company, the process looks like this:
- Send an email to email@example.com 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 firstname.lastname@example.org 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, CashforGoldUSA 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 CashforGoldUSA
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, CashforGoldUSA 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. CashforGoldUSA pays within 24 hours of you accepting an offer.
Also, CashforGoldUSA accepts all kinds of diamond, gold, gemstone, platinum and silver jewelry, while I Do Now I Don’t is focused on diamonds.
Online 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|
|No||1 business day||$100,000|
|Diamond Buyers International||No||No||$5,000|
|Abe Mor||No||2-4 business days||$25,000|
Diamonds aren’t the only stones that you can sell. Everything from rubies to emeralds to sapphires can be sold for cash, much the same as diamonds.
Where can I sell a gemstone for cash?
Whether your gemstones are loose or are a component of jewelry, you can typically sell your gemstone to the same buyers that might be interested in purchasing a diamond or precious metals. Jewelers, gemstone dealers, diamond buyers, diamond exchanges, antique dealers, and pawn shops all typically accept gemstones. Some may even specialize in buying and selling stones.
What about selling to an online gemstone buyer?
Online gemstone buyers are another excellent option for selling your stones. These buyers operate through websites or online platforms to either purchase your gemstone directly, or to connect you with a buyer who might be interested in your stone.
For example, Worthy is an online marketplace where you can auction jewelry which contains gemstones like alexandrite, rubies, emeralds, and sapphires. When you sell through Worthy, they will take professional photographs of your jewelry, complete a lab report to verify the gemstone’s composition, and market your item to buyers in their auction marketplace — taking a seller’s fee out of the final price paid to you.
Understand your gemstones and what they’re worth
In order to get the most money for your gemstone, you must understand what they’re worth. While there are a number of factors that will influence the value of your gemstone, the most important are the same as for diamonds:
- Color: What specific color or hue is your stone? The rarer and deeper the color, generally speaking, the more valuable your gemstone.
- Clarity: The clearer your stone, the more valuable it will be.
- Carat: The larger your gemstone, the more valuable it will be.
- Cut: If your gemstone is processed, the specific cut and quality of cut will impact its value.
While it may be possible to reference online charts and resources to conduct some sort of assessment for yourself, in order to get an accurate picture of your gemstone’s worth you need an appraisal.
How to appraise your gemstone
You can find appraisers who specialize in appraising gemstones; many jewelers and buyers also appraise stones. The most accurate of appraisals will require laboratory testing to measure color and clarity against scientific benchmarks and recent market data.
How much is alexandrite worth?
Alexandrite is a popular gemstone in how its color can change in different lights: blue or green in daylight, and pink or red in incandescent or candle light. As such, the value of your alexandrite is most impacted by the purity of its color, as well as how dramatic and noticeable the color change.
Other factors, such as clarity, carat size, and cut will also determine the value of your alexandrite. Low-quality alexandrite can sell for as little as $100, but high-quality stones can sell for tens of thousands or even hundreds of thousands of dollars.
How much are emeralds worth?
As mentioned above, color, clarity, carat, and cut will all determine the value of your emerald. The most important of these factors, however, is color.
The most valuable emeralds are typically those that exhibit a vivid, saturated, dark green color. The color should be evenly distributed throughout the gem, and the gem should be fully transparent. Generally speaking, the darker the green of the emerald, the more valuable it will be.
Emeralds sell for anywhere between a few hundred and a few thousand dollars.
How much is a ruby worth?
As with other colored gemstones, color is one of the most important factors determining the price of your ruby. The most valuable of rubies tend to be deep red in color, and may even be a slightly purplish red. Likewise, the clearer the stone—the fewer inclusions, or impurities—the more valuable it will be.
While darker is typically better for gemstones, if a ruby is too dark in color it may actually negatively affect the price. This is typically a concern with stones that are so dark that the color of the ruby cannot be appreciated because it absorbs too much light. On the other end of the spectrum, lighter (pink) rubies can also fetch competitive prices.
Generally speaking, the rarer the color, the more valuable the ruby will ultimately be. The most common hues falling in the middle of the spectrum between pinks and deeper reds can sell for hundreds or thousands of dollars, with rarer and higher-quality stones selling for tens of thousands of dollars.
How much is a sapphire worth?
The value of sapphires, like rubies and emeralds, is predominantly tied to the color of the stone. Stones which have a high degree of clarity, color intensity, and saturation will be worth more than stones of lesser quality.
While most people think of blue gemstones when they think of sapphires, the truth is that these gems can be found in a wide range of colors. Blue, pink, purple, orange, and yellow sapphires are all highly sought after. One of the rarest, and therefore most valuable, of colors is the Padparadscha sapphire, which is peach in color.
Sapphires range in price from $25 to $11,000 per carat.
How much is opal worth?
Opal is a unique stone in how it reflects light, and as such the value of opal is often tied to these unique qualities. The class (single vs. doublet vs. triplet, body tone (white vs. black opal), play of color (variety of colors reflected in light), brilliance (clarity of the stone), and internal pattern can all significantly impact the value of an opal. Rare opals can sell for hundreds to thousands of dollars — or be worth tens of dollars.
How much are pearls worth?
The value of a pearl will depend on a number of factors, including:
- Whether it is natural or cultured, with natural pearls bringing a higher price
- Its lustre, or how well the pearl’s surface reflects light
- Its size, with larger pearls fetching a higher price
- Its shape, with perfectly round pearls being prized above others
- Its color, with rare varieties carrying a higher price
Again, color plays an outsized role in the value of your pearl. The most common pearls will be a shade of white. Black, silver, and gray pearls are less common than the white ones, but are still relatively common. The rarest of pearls include those which are naturally blue, pink, green, or purple.
The most valuable pearls have high luster, are naturally sourced, and feature a rare color.
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 CashforGoldUSA, 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.
Wealthysinglemommy.com founder Emma Johnson is an award-winning business journalist, activist and author. A former Associated Press reporter and MSN Money columnist, Emma has appeared on CNBC, New York Times, Wall Street Journal, NPR, TIME, The Doctors, MONEY, O, The Oprah Magazine. Winner of Parents magazine’s “Best of the Web” and a New York Observer “Most Eligible New Yorker,” her #1 bestseller, The Kickass Single Mom (Penguin), was a New York Post Must Read. A popular speaker, Emma presented at the United Nations Summit for Gender Equality. Emma's Top Single Mom Resources.