How to Sell Your Loose Diamond

1) Background check the potential San Diego diamond buyer with the Better Business Bureau online, and by browsing customer reviews on independent web sites. If you see a bunch of reviews for a particular business posted on the same day, be wary of the legitimacy of these reviews. Look for reviews that provide concrete details about a customer's experience, vary in style and content, and are spaced out over a period of time.

2) Selling a loose diamond that is 1 carat (or more) will bring a significantly higher buying offer than a diamond that is just under 1 carat (.98 carats for example). This is because stones of 1+ carat are more rare. Two 1/2-carat diamonds will thus also be less valuable than a single 1 carat diamond.

3) You are likely to receive a higher offer on your loose diamond if it has a branded cut which is highly sought after, such as Hearts on Fire.

4) Loose diamonds of high quality that have a pinkish or bluish hue will command a higher buying offer than most clear diamonds. If you have such a diamond, be sure to go to a buyer, like San Diego Jewelry Buyers, who specializes in rare diamonds.

5) If you bought your diamond from a retail jeweler, you are likely to receive an offer 60-80% less than that price, due to the significant markups which jewelers charge.

6) Keep in mind that Clarity and Color are equally important when valuing a diamond. The ratings for both qualities must be high for you to receive a significant offer from a San Diego diamond buyer.

7) If your loose diamond comes with a certificate from a respected lab like GIA, this will make it much easier to value and sell. Please click on the following link to learn how to read a diamond grading report.

8) If you are getting your diamond independently appraised, make sure that the appraiser is not closely affiliated with a jewelry buyer to whom you are considering selling your diamond.

9) As a knowledge building exercise, price a 1.00 Carat F color, VVS1, Ideal Cut diamond at Blue Nile and two other online retailers. Compare prices and then take the lowest one. A diamond buyer will likely pay you around 40% of that lowest retail price.

10) You are more likely to get a better buying offer from a local diamond buyer than a large, nationally run, diamond buying outfit. Do solicit offers from more than one San Diego diamond buyer before selling your loose diamond.

"Disclaimer: Percentages given for estimated prices are based on December 2008 market conditions. These percentages, like real estate and commodity prices, can fluctuate greatly according to the current condition of the market."