“If you have a diamond and need the money, now is a great time to sell,” says Martin Rapaport, founder of the Rapaport Diamond Report and RapNet online diamond trading network.
While diamond prices were down 13% before the pandemic thanks to oversupply and lackluster interest from Millennials, today prices are up a net 31%.
Emma’s quick take on the best place to sell diamonds: Diamonds USA (formerly CashforDiamondUSA)
There are a lot of good options for selling diamonds online, but I personally like Diamonds USA because:
- Payouts within 24 hours
- A+ BBB rating
- Price match guarantee
- Free return guarantee
Diamonds USA was founded in 1997 and has successfully purchased more than $160 million worth of gold, diamonds and other fine jewelry and watches.
We like this family-owned company for many reasons, including that they give a 10% bonus when you send in your shipment within a week. Diamonds USA also buys all-sized diamonds, including small stones.
Or, if you still have questions about diamond buyers or selling diamonds, continue reading:
- Who buys diamonds? Diamond buyers “near me” vs. online
- Best diamond buyer: My experience with Diamonds USA
- Other diamond buyers
- FAQs about diamond buyers
Who buys diamonds? Diamond buyers “near me” vs. online
If you are interested in selling your diamond jewelry or a loose diamond, you could search “near me” and sell locally to jewelers, pawnshops, wholesale diamond brokers, and antique dealers — common options that offer the opportunity to sell your stone in person. 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
But going this route can make shopping around for the best offer difficult. Online diamond buyers are an increasingly popular choice. Online diamond buyers have these advantages over a jewelry store near you:
- Online businesses tend to have lower overhead, so can pass along those savings to the seller.
- Online diamond and jewelry buyers face global competition across the Internet — opposed to just a few buyers locally — so again, are incentivized to be competitive.
- You don't have to leave the house, as top buyers will send a FedEx or other insured mailer right to your home.
Selling your diamond to online buyers typically works like this:
- Sites including DiamondsUSA require you to share a few details about your diamond or jewelry through their website.
- With the information you upload, they can evaluate and offer an estimate of the resale value.
- If they are interested in buying your item, and their initial offer is interesting to you, they will send you a FedEx mailer so that you can mail your diamond jewelry.
- Send in your diamond or jewelry. The diamond buyer will make you a formal offer via phone or email.
- If you accept, you are paid within 24 hours by DiamondsUSA. Other sites take longer.
Best online diamond buyer: Diamonds USA
Diamonds USA — sister site of CashforGoldUSA — buys all gold, silver, platinum, diamond and gemstone jewelry, as well as flatware and watches, regardless of price. Diamonds USA:
- Pays within 24 hours
- BBB rating of A+
- Pays a 10% bonus if you ship within 7 days
- 100% free and trackable shipment through FedEx — door-to-door
- Insures your item up to $100,000 via Jewelers Mutual en transit, and through Lloyds of London while at their facility
- 100% highest price guarantee
- 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, Diamonds USA and its sister site, CashforGoldUSA are quality businesses that I have used myself.
Is Diamonds USA legit?
Diamonds USA is owned by C.J. Environmental, which has an A+ rating with the BBB, and has paid out more than $160 million for gold, diamonds, silver and jewelry. Diamonds USA sells to wholesale diamond buyers.
How Diamonds USA works
Diamonds USA operates on a 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.
Here's how it works:
I checked out Diamonds USA because it has an A+ BBB rating, and was found by a Fox Business News investigation to payout three times its competitors. It was really easy:
- I went to the DiamondsUSA website, 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, free of charge to me. Your item is insured up to $100,000 through Jeweler's Mutual, and comes 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. Get a free, immediate estimate on your jewelry at CashforGoldUSA now >>
Below is the breakdown of the best and worst qualities of Diamonds USA, or read more in our CashforGoldUSA review.
Pros of Diamonds USA
- 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 Diamonds USA
- 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 Diamonds USA pays.
Takeaway: If your diamond is modest and you’re ready to see it go, give Diamonds USA a try now >>
Other top online 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: 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.
WP Diamonds only accepts lose diamonds and diamond jewelry with centerpieces of at least .5 carat.
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
- Only accepts diamonds with center stones of at least .5 carats.
- Only interested in buying diamonds and other luxury watches verified via documentation.
- WPD bases your price on the current second-hand diamond market and their team of GIA trained gemologists.
- WP doesn’t use GIA or other certified outside appraisers, but an in-house appraisal team.
Takeaway: WP Diamonds is a quality diamond buyer for larger stones. Read my complete WP Diamonds review.
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 a leader in diamond buying 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 where dozens of global buyers bid on your item.
Pros 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 at the Gemological Institute of America (the most credible, world-renowned gemological lab on the market). The GIA does not perform appraisals, valuations or assign a monetary value to any of the goods they issue reports for. 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.
At Worthy, 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 suggests that you get top market price for your jewelry.
Cons of Worthy.com
Your diamond resale value must be at least $1,000 to sell on Worthy. This translates into a center stone of at least .5 carat, and does not include the gold or platinum setting, or any side stones.
Note that most people assume their diamond is worth more than it actually is. Keep in mind that the resale value of a diamond is less than 40% of the retail price, typically.
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.
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.
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.
If the jewelry you’re selling doesn’t involve diamonds, then The Diamond Valet isn’t for you.
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.
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 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 Diamonds USA.
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.
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.
Check out my I Do Now I Don't review here.
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.
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||~10 business days||$100,000|
|Diamonds USA||No||24 hours||$100,000|
|No||1 business day||$100,000|
|Diamond Valet||No||No||Cash replacement value|
|Diamond Buyers International||No||No||$5,000|
|Abe Mor||No||2-4 business days||$25,000|
|I Do Now I Don't||Yes||No||Only available for VIP selling service|
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 a princess 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.
Bottom line: Why we recommend online diamond buyer Diamonds USA
With more than 30 years of experience in the business and $160 million in payouts of gold, diamonds and other fine jewelry and watches, Diamonds USA is our top choice online diamond buyer. Diamonds USA offers:
- Payment within 24 hours
- A+ Better Business Bureau rating
- Expert appraisals from the GIA
- Free insurance up to $5,000 — as well as up to $100,000 in some cases
- 100% satisfaction guarantee
Today, there are many online platforms that will help you sell your diamond jewelry and diamond ring. 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.
CashforDiamondsUSA, now called Diamonds USA is owned by C.J. Environmental, which has an A+ rating with the BBB, and has paid out more than $53 million for gold and diamonds.
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.
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.