If you’re thinking about selling your diamonds for cash, there are three steps you should take before you sell, which I detail below, as well as buyers I recommend. The recommendations made here are based on:
- Online reviews from customers
- Speed
- Better Business Bureau ratings
- Reports from reputable publications
- Age of the company
- Ease of use of their websites
- Transparency into their process
- Overall sentiment that these are quality businesses that care about their customers
Our. No 1 recommendation based on these criteria is Diamonds USA, with its BBB A+ rating, 24 hours to payment, and 100% highest-price guarantee. More details below.
Get a free appraisal from Diamonds USA today >>
Here are answers to common questions, details on how to sell diamond earrings, and more:
- How to sell diamond earrings
- Where to sell your diamond earrings
- What is the value of my diamond earrings?
- What can you sell diamond earrings for?
How to sell diamond earrings
If you want to sell your diamond earrings for cash, follow these three steps:
1. Understand your diamonds
The first step in selling diamond earrings is to understand the quality and value of your diamond. If your diamonds are significant — say, a total of 1 carat weight — it can make sense to invest in a diamond certification, a document that specifies the key characteristics of a diamond, including its:
- Carat – Diamond’s physical weight
- Color – Colorless diamonds are typically worth more than near colorless or colored diamonds that have the same carat, cut, and clarity
- Clarity – How clear the diamond is
- Cut – The shape of the diamond
You can sell your earrings without the certification, but you likely won’t receive as much money because the authenticity can’t be verified.
Diamond prices have dropped dramatically over the past year, as the U.S. and China economies mean people have less money to spend on luxury items, the increased popularity of lab-grown diamonds and general drop in interest in diamond engagement rings as younger people are marrying less and big, flashy rocks have fallen out of favor.
RapNet Diamond Index, which tracks global diamond trends produced this Nov. 12, 2023 report in which round diamonds sized .5 to 1 carat fell 29% year-on-year:
Rapaport expects these higher prices to continue to drop during the first half of 2023.
Martin Rapaport, founder of RapNet diamond index, warned the industry in a Sept. 13 webinar of the dire state of the diamond market.1,2 “The situation in the diamond markets is serious,” Rapaport said. “The move by consumers to synthetic demand will be consistent and long term, not like economic conditions which come and go.”
In other words, if you need the cash, sell now before prices drop further. And when you do sell, be realistic in your expectations, yet always negotiate with the buyer!
2. Understand your diamonds' value
Once you understand what you have, you can get a sense of how much your diamond earrings are worth.
A diamond appraiser will use this certification to determine what your diamond is worth before you sell it (or if you’re looking to insure it). Otherwise, a local jeweler, or an online jewelry buyer will give you an estimate of what your earrings could fetch — or make you an offer on the spot.
Keep in mind that the gold or platinum in your earrings may be just as valuable or more than any pearl, diamond or gemstones in the piece.
As of , the spot gold value in the United States was trading at $ per ounce, or $ per gram.
It’s important to note that the resale value of a diamond (or any fine jewelry) will typically be much less than what you initially paid for it, usually 25-50% of the original price
What is my jewelry worth? Getting a jewelry appraisal
3. Explore your options for selling
The quickest way to sell your diamond earrings for the highest price in our experience is with Diamonds USA, but there are more options:
Where can I sell my diamond earrings?
There are several options to sell diamond earrings you no longer want.
- Jeweler: Visit a respectable jeweler in your area, haggle over the offer and leave your old jewelry behind.
- Pawn shop: You could also try going to a local pawn shop if you need cash fast.
- Auction: Find an auction house or online auction site to sell large diamonds and well-known branded jewelry.
- Online: Explore online platforms for selling diamonds from the comfort of home.
Platforms I’ve personally used and like CashforGoldUSA.com and its sister sites Diamonds USA and CashforSilverUSA.
Selling your diamond earrings to a reputable online jewelry buyer is safe if they provide insurance from a reputable insurance company.
Also note that online jewelry buying is such a competitive business that online jewelry buyers are incentivized to maintain a solid reputation with users, their trade organizations, the Better Business Bureau, Trustpilot, and Reddit.
Worthy.com review — what you need to know about this diamond marketplace
Abe Mor reviews 2023: Is this a legit place to sell jewelry?
Where is the best place to sell diamond earrings online?
After personally vetting jewelry buyers and years of research in the diamond space, my top choice for selling diamonds online is Diamonds USA (formerly CashforDiamondsUSA). Why? Here are some reasons:
- A+ BBB rating
- 100% guarantee highest price
- Gem Institute of America appraisals
- Offers free door-to-door FedEx shipping
- Pays within 24 hours
- 10% bonus when you send in your diamond or jewelry within 7 days
This is the process to sell earrings online with Diamonds USA:
- Go to DiamondsUSA.com and request an appraisal kit, which includes insurance and a FREE prepaid overnight FedEx mailer that will be delivered to and picked up from your door.
- Once your diamond earrings arrive, you will get a confirmation email or call, and Diamonds USA will evaluate your earrings and make you an offer.
- If you choose to accept the offer, you get paid within 24 hours. If you choose to decline the offer, Diamonds USA will immediately return your item for free, no questions asked.
Get a free FedEx or USPS mailer overnighted from Diamonds USA now >>
What is the value of my diamond earrings?
Understanding the value of your earrings or other fine jewelry has a couple of factors. These include:
- Are your earrings a known brand?
- What is the quality of the diamond in the earrings?
How much are diamond earrings worth?
Typically, a single stone of carat weight of .5 carat is worth more than $1,000. Keep in mind that is for ONE stone — not the total carat weight of all the stones in your diamond or gold earrings. Smaller stones are typically worth less than $100 total, and people are often surprised to find that the setting is worth more in resale value than the diamonds.
What can you sell earrings for?
You can sell your earrings for their scrap metal value minus the buyer’s commission, plus the value of any diamonds or gemstones they contain. If you have earrings from a high-end brand like Tiffany, Cartier, Van Cleef & Arpels, Bulgari, Graff, Chopard, David Yurman, or Harry Winston, your earrings are worth a premium.
How much do diamond earrings sell for?
As mentioned previously, the value of your diamond earrings is based on several factors that will influence how much they sell for.
Diamonds USA, sister site of CashforGoldUSA, recently purchased these 1.34 carat G SI2 diamond earrings for $2,500:
Frequently asked questions about selling diamond earrings
What can you do with old diamond earrings?
Your options for your old jewelry include:
- Sell: Fund an emergency nest egg, retirement, college tuition, or this month’s electric bill!
- Have the diamonds redesigned into another style or a ring or necklace
- Save them — you may decide you like them at a later date, or choose to give them to someone you love
- Gift them to someone you love now!
How and where to sell gold chains for cash in 2023
How much can you sell used earrings for?
If the used earrings contain a diamond or diamonds, the amount you get back will depend on the size and quality of the diamond(s).
You can get an idea how much to sell your used earrings for by looking at recent payouts on Diamonds USA..
Where to sell diamond earrings near me?
If you do a Google search for the “best place to sell jewelry,” you’ll likely only get a list of physical locations nearby. You can absolutely sell your diamond earrings to local jewelry shops, but you will likely get paid less than you would selling to top, online jewelry buyers like CashforGoldUSA or Diamonds USA, based on comparison shopping.
Can I pawn diamond earrings?
Pawnshops do buy jewelry, including diamond earrings — though they typically pay far than an online jewelry buyer. There are many quality pawnbrokers with good reputations — search your local BBB and Yelp reviews, and ask for a recommendation from friends. Upside to selling to a pawnshop is that they pay immediately, and you have the option for a pawn loan.
Where and how to get a loan on jewelry in 2023
Can you sell one diamond earring, or can you pawn one earring?
Yes, you can pawn or sell single diamond earrings. Almost all diamonds bought by a buyer are removed from their setting and resold to jewelers.
Moissanite vs diamond: What to know about resale value in 2023
How do I get my earrings appraised?
An appraisal is different than a diamond lab report, or a certification from a qualified gemologist.
Most local jewelers in your community provide appraisals. This can be a good estimate of the replacement value of your jewelry, which can help you get it insured, and understand more about your earrings. Jewelers will often offer this for free.
However, if you want to know the true value of what your jewelry is worth, and how much you can get for it by selling, you need a certified lab report.
Bottom line: Best place to sell earrings and other diamond jewelry
Diamonds USA is our top pick for selling diamonds of all kinds. Their A+ BBB rating, secure, insured and trackable shipping, 24-hour payment and high number of positive online reviews make us confident in recommending Diamonds USA.
Get an offer for your earrings now >>
Sources
- Rapaport Webinar: ‘Warning to the Diamond and Jewelry Trade,’ Sept. 13, 2023. https://rapaport.com/videos/rapaport-diamond-trend-webinar-state-of-the-diamond-industry-2023-invitation/
- “Press Release: Diamond Prices Plummet in Difficult Market,” Rapaport, Aug. 1, 2023 https://rapaport.com/news/press-release-diamond-prices-plummet-in-difficult-market/
- US Diamond Imports See First-Quarter Slowdown, Rapaport, May 30, 2023 https://rapaport.com/news/us-diamond-imports-see-first-quarter-slowdown/
Your options for your old earrings and other jewelry include: sell, have the stones redesigned into another style, save them, or gift them to someone you love.
Pawn shops do buy jewelry, including diamond earrings. They will offer a free quote and pay immediately, but feel free to negotiate and shop around.
Typically, a single stone of carat weight of .5 carat is worth more than $1,000. Keep in mind that is for ONE stone — not the total carat weight of all the stones in your diamond or gold earrings. Smaller stones are typically worth less than $100 total, and people are often surprised to find that the setting is worth more in resale value than the diamonds.
You can sell your earrings for their scrap metal value minus the buyer’s commission, plus the value of any diamonds or gemstones they contain.
