Now that you’ve decided to sell your loose diamonds, the next step is to inform yourself of their value. Knowing how jewelers appraise loose diamonds in Indiana will help you:
- Get the most money for your loose diamonds
- Manage your expectations about what they’re worth
- Avoid getting taken advantage of by dishonest diamond buyers
Learn how jewelers test loose diamonds, what they look for, and tips on selling your loose diamonds below.
How Much Money Can I Get for My Loose Diamonds?
It will depend on the diamond appraisal, which is the process of testing the quality of your loose diamonds using special methods and tools.It should only be done by a professional jeweler/appraiser with years of experience.
A diamond appraisal will tell you the estimated worth of your loose diamonds prior to selling. This process doesn’t take very long, often less than an hour.
Never sell your loose diamonds without getting them appraised first.
Ideally, get an appraisal from a range of shops and buyers, so you can get a clearer idea of what your diamonds are worth.
Diamond Appraisal: What Do Jewelers Look For?
To determine how much your loose diamonds are worth, jewelers will check for authenticity, quality, and market value. They will look at the following:
A diamond report is one of the best proofs of a stone’s authenticity.
It certifies that an independent gem laboratory has tested the quality of your diamonds scientifically, without bias, and under the strictest diamond grading standards.
The most credible diamond certifications come from:
- Gemological Institute of America (GIA)
- American Gem Society (AGS)
- Gem Certification and Assurance Lab (GCAL)
- International Gemological Institute (IGI)
Certification from these organizations proves that your diamonds are real and natural. It makes it much easier to sell loose diamonds, and for more money based on market price.
If you don’t have a diamond report, the jeweler will continue checking for the following. These apply to all types of diamonds, whether you’re selling a diamond ring, loose diamonds, and other types of diamond jewelry.
Synthetic vs. Earth-Mined Diamonds
A natural, earth-mined diamond fetches much higher prices than a synthetic (aka lab-grown) diamond.
Read: How Diamonds are Made
To test whether you have a lab-grown or earth-mined gem, jewelers or diamond buyers will:
- Use a loupe to look for small imperfections, aka inclusions, found in real diamonds
- Use a thermal conductivity probe/meter to check for the correct heat conductivity
- Check the nitrogen content of your loose diamonds (lab-grown gems do not contain nitrogen)
- Use high-profile weighing with special scales
- Use an electricity conductivity test to check if the diamond is real or not
- Examine the diamond under a power microscope with 1200x magnification
Jewelers will also check for the 4Cs – carat weight, cut, color, and clarity – to judge quality before they buy loose diamonds.
Shape will greatly affect how much money you’ll get when you sell loose diamonds. For instance, marquise and round diamonds are typically valued higher than when you sell diamonds with a miner’s cut.
History is another factor when you sell loose diamonds— an antique diamond ring, for example, can command a higher price than a diamond that is not.
Overall, the better your stone scores in all of these categories, the more money you can get when you sell loose diamonds.
What Should I Look for When Getting My Loose Diamond Appraised?
Diamonds are incredibly valuable. Because of this, you should be very careful when selling loose diamonds or any diamond jewelry.
Before getting an appraisal, check carefully for the following:
- The jeweler should appraise the diamond in front of you.
If they tell you they’re going to take your diamond somewhere or “to the back” to appraise it, leave ASAP.
- Their equipment and scales should be state-certified.
If a diamond buyer tells you it’s unnecessary, take that as a red flag and look for another appraiser before you sell loose diamonds.
- They should take the time to explain how they’re appraising your diamond, and how they reached the final value.
An honest jeweler will be happy to share the appraisal process with you, and should be transparent every step of the way.
More Tips on Selling Your Loose Diamonds in Indiana
- DO research the shop or buyer before your visit.
Make a list of diamond buying entities in your area before going in. Check their reputation, and how long they’ve been in business.
Do they have GIA-certified gemologists available to appraise your loose diamonds? What’s their process when someone comes in selling loose diamonds? Don’t forget to read their online reviews as well.
The more you know about the market, the better your chances of getting the best price.
- DON’T confuse appraisal value VS. cash offer.
Appraisal values are usually much higher than the actual cash offer for all types of diamond jewelry.
The reason is that the appraisal figure is how insurance companies will value your diamond jewelry if it needs to be replaced. Think of it as the original price of a brand new car.
On the other hand, the cash offer is how much a diamond buyer is willing to pay for your diamond jewelry in its current condition.
Similar to how used cars will sell for less than brand new ones, most cash offers are lower than appraisal values.
- DO bring all supporting documents.
This includes your diamond report, any documentation about the history of your diamond, and other information about your diamond jewelry.
- DON’T be pressured to sell your diamond immediately.
Never sell your stone to any diamond buyer who’s pressuring you to sell fast. Reputable jewelers will give you time to make a decision. You should feel comfortable and confident at all times when selling your loose diamonds.
Where Can You Sell Your Loose Diamond in Indiana?
In Indiana, you have several options for selling a loose diamond. Among the most popular ones are pawn shops, auction houses, and selling diamonds online. However, these options may not give you the best return for a diamond you’re looking to sell:
- For one, pawn shops are notorious for offering unfairly low prices for a loose diamond.
- Selling a loose diamond to an auction house is a time-consuming process, and again, you’re not guaranteed a fair price.
- While selling to a diamond buyer online is convenient, it does come with a lot of security risks. When you sell diamonds online, the bidders are rarely diamond experts themselves, and typically will try to buy your diamonds at the lowest price possible.
The safest way to sell a loose diamond is to a trusted jewelry shop. Check their background, diamond appraisal process, and certifications. Finally, use the tips above, and educate yourself about the diamond market before proceeding with the sale.
At AaLAND, we have professionals who will give fair pricing to your diamond jewelry and loose diamonds. We pride ourselves on giving the best pricing to any kind of jewelry and gemstones. To start, you may contact us or visit our showroom to get your diamonds appraised.