If you’re planning to sell a substantial amount of old jewellery, including potentially loose diamonds, this blog article can guide you in preparation, ensuring you secure the best possible deal.
Key Highlights:
Why is the resale price of my diamond lower than the purchase price?
- The resale value reflects the intrinsic diamond value without the added business costs and profit margins from the original purchase.
- Market fluctuations impact diamond prices; selling during a low period after buying at a peak can affect value.
- Taxes paid during purchase are not recovered in resale.
Determining Diamond Resale Value
- Resale values are based on the Rapaport diamond price index, the leading global diamond price reference.
Are Diamonds a Good Investment?
- Diamonds can be a good investment if you buy well and choose the right diamonds, such as large, flawless, or fancy-coloured ones.
- Buying from traders or manufacturers at wholesale prices is advisable.
- There is always risk, but historically, diamond prices have generally increased.
What Happens to the Jewellery After Selling the Diamond?
- Items may be dismounted and melted, or repolished and resold, depending on style, condition, and market trends.
Options for Better Value When Selling Diamonds
- Consider upgrading or designing a custom piece if not in immediate need of money.
- Suitable diamonds can be sold on consignment for potentially better returns, though it may take longer.
Difference Between Consignment and Selling Diamonds
- Consignment involves leaving your pieces with a seller who attempts to sell them on your behalf for a better value.
- This method can yield higher returns but requires patience.
Best Place to Sell Loose Diamonds
- Our transparent process and direct communication make us a top choice in Singapore for selling diamonds.
- Always advisable to obtain at least two quotes for comparison.
- How come the price for the diamond is so low than the price that I bought?
There are a few angles for the answer to this question regarding Diamonds reselling value.
- When you buy you pay for many things other than the diamonds itself. The costs of the business and its profit. The better you researched when you bought the lower the premium you paid. The more branded the place you bought the diamond at, the more premium you paid. When you sell, buyers will naturally not take all of this extra payment to account.
- The diamond price list can also change and at times goes up or down. If you happen to buy during a peak time and sell in a low period this additional gap will be felt in the price.
- You do not get the tax you paid.
- How do you determine the Diamonds reselling value?
We work according to the Rapaport diamond price index and also offer based on it. This is the leading price index for diamonds in the world. You can read more about it here.
3. Are Diamonds a good investment?
Diamonds can definitely be a good investment but you need to know what you are doing. You need to buy well and you need to buy the right diamonds. Normally big diamonds, perfect diamonds and fancy coloured diamonds are better for investment. If you buy them, make an effort to buy from a trader or a manufacturer and get as close to wholesale prices as you can. .
Keep in mind that as with any investment, there is always risk. Historically diamond prices continuously went up but the last year was a hard year with the price list. This actually might be a very good time to invest but make sure you know what to buy.
4. What will you do with the jewellery that holds the diamond after we sell it?
Many of the items will be dismounted and melted. Some will be repolished and resold. This depends on the style, condition, fashion, timing and so on.
5. Do I have other options for a better value for the diamond im selling ?
We try to accommodate various situations and offer a better value if possible. Many of the people selling are not in hard need for many so they go for upgrading or designing a new custom made piece for them. Others that have the suitable diamonds can consider consignment.
6. How is consignment different from selling diamonds?
Consignment means you leave your pieces with us and we try to sell them. This way you can get a better value for the diamonds you are selling but that you need to wait longer. We allow a very flexible consignment route for diamonds jewellery.
7. What do you think is the best place to sell loose diamonds?
As we have a fully transparent process and talk very directly with our customers, luckily they feel comfortable to ask us even questions like this. We feel that we are the best option in Singapore for selling diamonds in the majority of cases. And when we feel we are not a good fit for the goods you are selling we are upfront about it. In any case it is always good to get at least 2 quotes.
Conclusion:
Selling diamonds can be complex, with various factors influencing their resale value. When you first buy a diamond, you pay not only for the diamond itself but also for business costs and profit margins. High-end retailers or well-known brands often include significant premiums in the purchase price. When reselling, buyers focus only on the diamond’s intrinsic value, not these added costs. Market fluctuations also play a role; prices can go up or down based on supply and demand, economic conditions, and other factors. Taxes paid during the purchase are not recouped when selling. The resale value of your diamond is determined by the Rapaport diamond price index, the global standard for diamond pricing, which reflects current market conditions. While diamonds can be a good investment if bought correctly—especially larger, flawless, or fancy-coloured ones—there is inherent risk, and the market can experience downturns. After selling, the fate of the jewellery varies; some pieces may be dismounted and melted, while others may be repolished and resold, depending on their style, condition, and trends. For better value, consider upgrading your jewellery, designing a custom piece, or selling on consignment, which may yield higher returns but requires more time. Consignment offers better value but demands patience, while direct sales are quicker but may not fetch as high a price. Finding a reputable place to sell is crucial; our transparent process and direct communication make us a top choice in Singapore for most diamond sales but getting at least two quotes is advisable to ensure a fair price. Understanding these aspects can help you navigate the diamond selling process more effectively, ensuring informed decisions that align with your financial goals and expectations.
We hope these tips will help you sell your Diamonds with the best outcome for you.
Looking to sell your jewelry at the best price?
Contacts
- sales@dianochediamonds.com.sg
- +65 8904 5966
- 29 Kreta Ayer Rd, Singapore 088996
- From Monday to Friday 9:30 AM to 6:30 PM
- Closed on Public Holidays
- By Appointment Only
Contact us for a free consultation and evaluation from an expert gemologist!
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Sell Your Jewellery Singapore
Official diamond and precious metal buyer in Singapore. Accredited GIA gemologists offering transparent appraisals, spectrometry testing, and immediate PayNow payout.
