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Those diamonds in your jewelry collection are definitely older than you are, and even older than any life on Earth. They’re unique, hard to find, and take millions of years to form.
Because of their preciousness and rarity, diamonds have never been an inexpensive commodity. Though the market fluctuates, its dollar value still continues to steadily grow.
In fact, the diamond industry has grown to be worth over $40 billion today. If you’ve got natural diamonds in your possession, you are holding a piece of that pie.
Many people ask, do diamonds have resale value? The answer is yes, absolutely. But how do you determine what that resale value is?
The answer is simpler than you might think. Keep reading for a full breakdown of diamond resale value and what determines it.
Diamond Resale Value Vs. Diamond Retail Value
A diamond’s retail value is defined as the price you paid when you purchased it. If you purchased it from a retailer, then you paid a hefty price markup.
Unfortunately, a diamond’s retail value is often much higher than the resale value because of that retail markup. In other words, you will be hard-pressed to sell it for an equal or greater value than what you initially paid for it.
Even if the diamond jewelry is brand-new and unworn, you will still experience some depreciation in its resale value if you bought it from a retailer. This is to be expected, but it doesn’t mean that the diamonds aren’t worth selling. They’re still precious gems and diamond resale tends to be high regardless.
What Affects the Resale Value of a Diamond?
So, do diamonds have resale value? Yes! But due to the nature of the market, not every diamond’s resale value will be the same.
As you might have guessed, the size of the diamond plays a role in its resale price, but that is not the only factor that is considered. Diamond resale value is determined by the 4 “C’s” of universal diamond grading:
- Clarity, or how many dark spots/cloudiness/other imperfections the diamond has.
- Color grade, or the number of yellow tones in the diamond; colored diamonds are graded based on color intensity.
- Carat weight, which is the diamond’s weight in carats.
- Cut, which measures how proportionate and well-cut a diamond is.
Other determining factors in diamond resale value include its brand: high-end brands like Cartier will hold more value than an unbranded piece. Plus, if you have the original box and authenticity paperwork, that will also command a higher price.
Where Can I Sell My Diamonds?
Now that we’ve answered the question “do diamonds have resale value?”, how do you go about selling any unwanted pieces?
Crown Gold Exchange suggests taking them to a reputable dealer in order to get top dollar for your diamonds. Avoid pawn shops and other “catch-all” secondhand dealers, as they aren’t likely to give you a very fair price.
Sell Your Diamonds Now
It’s unlikely that diamond resale value will go up, so why not sell those diamond jewelry pieces that you don’t wear? If you’re wondering, “do diamonds have resale value?”, the answer is yes. So get out there and get top dollar for those diamonds!
For more tips, check out our other blog entries.