Before you sell your diamond, educate yourself about its value, the 4Cs, what to expect in terms of retail vs. resale price, where you can sell it safely to a reputable jewelry buyer, and where to get your diamond appraised.
What you need to know:
- How can I sell my diamond?
- Where can I sell a diamond or diamond ring near me?
- How much can you sell a diamond for?
- How do I know how much my diamond is worth?
- Understand what your diamond is worth before you sell
- Is it a good time to sell diamonds?
- Is it easy to sell diamonds?
If you already know the answers to these questions, or are otherwise ready to sell your diamond jewelry or loose diamonds, our top places to sell are:
- If your diamond is worth $1,000 or more (.5 carat engagement ring center stone), Worthy.com is a great option, with a BBB rating of A+, an auction platform that attracts bids from hundreds of diamond buyers around the world, and a fully transparent grading report and fee structure.
- If your item is worth less than $1,000, CashforGoldUSA will send door-to-door FedEx shipping, pay within 24 hours and gives a 10% bonus when you send in your diamond or jewelry within 7 days.
Keep reading to learn about your diamond and what it is worth.
How can I sell my diamond?
Traditionally, people interested in selling their diamond ring or jewelry went to a local, trusted jeweler, perhaps gathered a few quotes around town, and went with the best offer.
Today, you can still do that, but there are easier ways to ensure you get the highest price for your loose diamond or diamond ring.
Where can I sell a diamond or diamond ring near me?
Dig deep into the jewelry box, dust off that dazzling diamond, and sell it for all it’s worth.
Antiques from family are tricky, and there are a lot of factors to consider as you decide whether or not you should sell your heirloom and estate jewelry.
If you find yourself ready (like I did) to part ways with your diamond but wondering where to start, this post is for you.
How do I sell my diamond near me for cash?
If you want to start with a quote from a local, check out Yelp, ask friends, and search the Better Business Bureau for diamond buyers in your area. Bring all documentation for your item, and never commit to a sale without a second opinion.
The quickest way to sell your diamond for the highest price is with CashforGoldUSA, which will send a mailer to your home, offer you a quote by email, and pay within 24 hours.
Do pawn shops buy diamonds?
Yes, pawn shops often buy diamond jewelry and loose diamonds, though typically for far below what a jeweler or online diamond buyer will pay.
How much can you sell a diamond for?
Typically, you will receive 50% or less for your diamond than you paid for it in the store at retail price. Below are some examples of recent diamond sales, compared with the retail price for similar stones.
Do diamonds have resale value?
In other words, Is a diamond a good investment?
In terms of money, the short answer is: No. You are not likely to see your diamond jewelry appreciate in value over time.
In fact, expect that the diamond resale price you receive at auction or from even a very reputable diamond buyer will be substantially lower than what you paid for it.
The reasons include:
- Diamond buyers are really only interested in the center stone, which they can repurpose into other, more contemporary pieces of jewelry, or custom items for their clients.
- The retail price you paid includes the design, smaller side stones, and the retail experience. A diamond wholesale buyer will melt the metal down to scrap.
This video does a good job explaining why diamond resale value is lower than the price you paid for it:
That said, diamonds do have a vibrant resale market, and old jewelry, an engagement ring from a divorced marriage, or inherited estate jewelry can bring much-needed cash when sold to a reputable diamond buyer.
How do I know how much my diamond is worth?
Ultimately, a diamond is worth what someone is willing to pay you for it. In addition to getting your diamond appraised or reviewed by a laboratory. searching for similar, recent sales on eBay or other auction sites, you can get a sense of how much your diamond is worth by educating yourself about your gemstone and the current marketplace.
How much is a 2 carat diamond worth?
Again, diamond resale values are based on the size and quality of the center stone, not total carat weight of all the diamonds in the piece.
Here are a few recent Worthy sales of rings with center stones of approximately 2 carats:
2.02 carats cushion-cut solitaire ring, I color, SI2 clarity, sold at auction for $6,754
2.54 carats cushion-cut bridal set, J color, SI1 clarity, sold at auction for $8,827
2.01 carats round-cut, F color, SI1 clarity, sold at auction for $14,820
How much is a 1-carat diamond worth?
The price you will receive for any diamond, no matter where you sell it, depends on many factors, including the size, clarity and cut of your diamond — as well as the market demand for your gemstone, as well as the honesty and integrity of the buyer!
It is also very important to keep in mind that the resale value of a diamond (or any fine jewelry) will be much less than what you paid for it, retail.
Typically, only the center stone of your ring or necklace will hold any significant resale value, and the surrounding gold or platinum, and small side stones are considered scrap, and will collect only the value of melting it.
Here are recent retail prices for a 1-carat, brilliant (round) loose diamond on BlueNile. Note the range for all qualities of 1-carat stones range from $2,473 to $12,317 for a perfect, colorless 1-carat diamond.
Note these are retail prices for loose, 1-carat diamonds. Resale prices will be much lower.
By comparison, here are some recent resale prices from online auction site Worthy.com:
How much is a .5-carat diamond worth?
According to the same listing on BlueNile, half-carat loose diamond retail prices range from $634 to $2,746.
How much are tiny diamonds worth?
Resale diamond prices for a half-carat are much less, and often are sold based on their weight for hundreds of dollars or less.
Understand what your diamond is worth before you sell
Grading and valuing a diamond is a sophisticated process, one that requires a professional expert and benefits from sophisticated laboratory technology. That said, there are some basic tools and terms that anyone can use to make sure they understand any price quoted for their diamonds, and help you understand what your diamond is worth.
Diamond value calculator?
While there are accurate online calculators for gold, silver and other precious metals, there is no such thing as an accurate diamond value calculator, because there is no diamond exchange — or central location where diamonds are bought and sold.
The price of diamonds is best understood through measurements of the 4 C's, and by being evaluated by a respected laboratory, such as GIA, which uses both industry-specific equipment, and recent sales data, to estimate a sales price range for your item. A runner-up would be a GIA-certified jeweler who can inspect and offer a price.
Steps for valuing a diamond before selling
If you have a GIA or other lab report, that is a huge first step in valuing your diamond since you know the 4 C's of your gemstone, and can look up recent sales on Worthy.com, or eBay.
If not, you can take your diamond to a jeweler for an appraisal, send it to a lab for a report yourself, or get an estimate at Worthy for free.
Keep reading to learn:
- Tricks to tell if a diamond is real
- About the 4 C's of diamonds
- Steps to get your diamond appraised
How to tell if a diamond is real
While a microscope can definitively determine whether a diamond is real, here are a few tricks to know whether you have a fake diamond:
- Drop the stone into a glass of water. If it floats, it is fake. A real diamond will sink.
- Use the fog test: Blow a warm breath on the stone. If it fogs for a few seconds, it is a fake, as a real diamond will disperse the fog quickly.
- Heat the stone with a lighter, then drop into a glass of cold water. A fake diamond will shatter, while a real diamond — one of the strongest materials on Earth — will resist very extreme temperatures.
- Check the setting. If your diamond is set in a piece of jewelry, the materials of that ring, earrings or bracelet are probably high-quality, including gold, white gold, or platinum. Precious metal jewelry is usually marked. Gold is marked 10K, 14K, and 18K to indicate the type of gold, while PT and Plat refer to platinum. The numbers 585, 770, 900, and 950 also indicate platinum or gold.
4 C's of diamonds
The 4 C's are a well-recognized foundation for measuring the quality and value of your diamond.
Cut is simply the way the cutter cut the diamond, and the skill and precision of the cutter's work. The more precise the cut, the more beautiful the diamond is to look at.
The color of gem-quality diamonds occurs in colors ranging from completely colorless (the rarest of diamonds), to shades of yellow (also called “canary diamonds) and brown (“cognac diamonds”). Colorless diamonds are the rarest. Rare, “fancy” diamonds that are naturally blue, red, and pink are graded on their own, separate scale.
Diamonds usually have internal flaws called inclusions, or external characteristics known as blemishes. Diamonds without inclusions or blemishes are rare; however, most characteristics can only be seen with magnification. This is the diamond clarity scale from the American Gem Society:
The carat is the diamond’s physical weight measured in metric carats. One carat equals 1/5 gram and is subdivided into 100 points. Carat weight is the most objective grade of the 4Cs.
How to get a diamond appraised
Appraisers use the 4 C’s, and the age and resale value of estate or antique jewelry. The National Association of Jewelry Appraisers can recommend members in your area, so you can make an appointment to have your diamonds appraised.
Some jewelers will do this for free, but you may also be charged a flat fee, an hourly rate (expect $50 to $150 per hour), or possibly a portion of the appraised value. Some pawn shops also offer jewelry appraisals.
“Appraising” is not the same thing as “grading,” which involves a laboratory report from the GIA or the IGI.
These are internationally known, independent laboratories, equipped with expert gemologists and the latest technology with which they measure, grade and offer a market price range based on recent sales. Gemological laboratories are the most trusted lab reports in the world, and will cost you around $200 for a 1-carat diamond ring, with the price going up based on diamond size.
The online diamond buyer Worthy works with the GIA and IGI to offer lab reports. Read my review of Worthy, including my experience using the online jewelry auction.
Is it a good time to sell diamonds?
While diamonds have historically held their value, in 2020, diamond prices did decline at both the wholesale and retail level. On one hand, you may choose to hold on to your diamond and sell when prices return, or you may choose to sell now before prices drop further.
On the other hand, there is the emotional aspect of jewelry that suggests that letting go of items that remind you of unhappy relationships makes it always a good time to sell your diamond jewelry. And you can always invest the money you earn in another investment that has a high return.
Is it easy to sell diamonds?
While diamonds sales can be intimidating and stressful, you can always walk into your local jeweler and see if he or she will buy your jewelry or loose diamond for cash. That is easy!
Selling a diamond engagement ring or other diamond online is just as easy since some of the top buyers send a FedEx mailer to your door for free, and overnight your item to their offices for evaluation, appraisal and quick payment. Also easy!
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.