Selling a diamond ring after years of owning it is as complex process as buying one. If you are planning to sell your diamond ring anytime soon, given below are 3 important factors that you need to consider when at it.
Know the Value
You primarily need to have a diamond quality certificate obtained from a reputed laboratory like GIA that approves its quality and value. To prove the authenticity of the diamond, you may need an appraisal certificate too. In case you do not have one, you can seek a reputed appraiser who could give you an unbiased appraisal detailing the characteristics and attributes of the stone.
A Realistic Price
When selling your diamond ring, you may never get a higher price or even the same price as the one at which you bought it. Therefore, it would be wise not to set an unrealistic price that will often lead to disappointments later. Good appraisers tend to follow updated market trends and thereby help you understand the current resale value of your diamond.
There are mainly two options to sell your diamond ring; to an individual buyer or to a local jewelry store. In either case, it is necessary to choose a trusted buyer to settle the deal. Usually, no buyer will be ready to pay for the exact resale value of the diamond. Thus, you need to educate yourself more on this topic and proceed wisely.