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Learn How To Sell Diamonds In Chicago

If you have an unwanted diamond ring or necklace that you want to get rid of, you may be wondering how to do so. You want a fair price, but you’re not sure where to go. Many websites and stores buy used jewelry, but you need to make sure they’re reputable. You can also try your hand at advertising online, but that may lead to a lot of headaches and problems, especially if you choose a scam artist. Therefore, learning about the four Cs and what affects price will help you sell diamonds in Chicago.

You Buy, They Buy

When you purchased the diamond, or it was bought for you, it probably cost a lot of money. In most cases, diamond jewelry can cost thousands of dollars, though you can get special discounts or find it on sale. The price you pay is going to vary considerably based on the current resale value. If you expect to get the same price as you bought it for, you are going to be disappointed, even more so if you expect to make a profit. Most people decide to get rid of them after many years of owning them, which can lessen the blow of the lowered price.

What Affects Price?

Many things can affect the price of your used diamond jewelry, including color, shape, size, clarity, cut, fluorescence, symmetry, and polish, among others.

The color of the diamond will affect the value, and most people prefer a colorless or near colorless hue. Over time, the diamond can start to turn yellow, which will mean you get a lower price. However, if you have a fancy colored diamond, such as green, red or blue, you may notice the price goes up considerably because they are rarer.

The shape can also affect price because round versions are most valuable. If you have an Asscher, radiant, cushion or princess cut, you’ll note they are still popular, but can be worth less. Cuts such as pear, oval and emeralds can be worth even less and marquises are worth less than all. Therefore, knowing the cut can help you determine the price you’ll get.

While a diamond is one of the strongest gems known to man, they can still chip and crack. If you’ve owned it for many years, chances are it isn’t as perfect as it was when you first got it.

If you want to sell diamonds in Chicago, you have many options. However, consider Chicago Gold Gallery, as they buy these and many other items. Click here for info.