Quick Answer: Who Buys Diamonds Near Me?

Why is diamond resale value so low?

The reason resale prices for diamonds are so low compared with retail prices is that jewelers buy diamonds in bulk, at wholesale prices, which are much lower.

The retail price you pay for a diamond at the store is higher because it includes overhead expenses, such as rent and personnel salaries..

Where can I sell my diamond ring for the most money?

Let’s look at each of these options in a bit more detail.ONLINE TO A TRUSTED DIAMOND BUYER. If you are asking yourself “Where can I sell my diamond ring near me?”, one of the quickest and most convenient ways to sell engagement rings for cash is through an online diamond buying company. … AUCTION. … CRAIGSLIST. … PAWN SHOPS.

Do diamonds have resale value?

The resale value of diamond indeed depends on several factors and does not simply fluctuate like gold rate. Typically, you should expect to resell your diamond at 25% to 50% lower than the price you bought it.

How do I sell my valuable diamond ring?

To help unravel the mysteries of diamond selling, here are four tips to consider before hocking your stone.Know what you’ve got. Just because Granny said her old diamond ring was valuable doesn’t make it so. … Set a realistic price. … Investigate your selling options. … Be emotionally ready to sell.

How much does a jeweler pay for a diamond?

How Much Are Jewelers Marking Up Diamonds?Jewelers’ costRetail rangeMedian$3,0003,500-7,8004,950$5,0005,500-10,2507,550$7,5008,000-15,00010,500$10,00010,500-20,00013,5006 more rows•Jul 1, 1998

What percentage of value do pawn shops pay?

60%At a pawn shop, you leave your property—the most commonly pawned items are jewelry, electronic and photography equipment, musical instruments, and firearms. In return, the pawnbroker typically lends you approximately 25% to 60% of the item’s resale value. The average amount of a pawn shop loan is about $75–$100.

Is it better to pawn or sell jewelry?

Even if you do meet all of your payments, the main difference between pawning diamonds and jewelry and selling diamonds and jewelry is that whereas selling generates cash, pawning only lends you money that you have to pay back with interest. … Diamond buyers alone can offer the best prices for your diamond.

How much is a 1 carat diamond worth resale?

This is evident when you look at the average retail prices of diamonds by carat weight. On average, the retail price for one carat diamonds can be anywhere between $2,000 to $16,000, and between $8,000 to $72,000 for two carat diamonds .

How much are tiny diamonds worth?

Just as the price of regular diamonds rises with their carat, so does the value of diamond chips. A melee diamond of 0.01-0.02 carats (or 1-2 points) can cost between $300 and $700 per carat depending on the stone’s color and clarity as well as the seller (wholesale prices are lower than retail ones).

How can I sell my diamonds for cash?

Let’s look at some important tips you can use to help you sell off unwanted diamond jewelry.Provide a Grading Certificate From a Reputable Lab.Approaching a Jeweler to Take In Your Used Jewelry.Selling Diamonds On Your Own.Consigning Your Diamond With a Local Jeweler.More items…

How much do you get for diamonds at a pawn shop?

Most pawn shops usually pay about 30 to 60% of what a diamond is worth. Once you add in the standard retail markup that’s applied to most diamonds, this means that you’ll usually receive an offer for a small fraction of the amount you paid for your diamond ring when it was new.

How do I sell my diamond ring at a pawn shop?

You can take a diamond ring into a pawn shop, a jewelry store or a diamond/jewelry dealer. Each one is likely going to provide you with a different value on the ring and offer you a different amount. You will want to go with the highest bidder, so it’s a good idea to visit a few different places.