New York, a big and famous city in the world, is always busy with any business operation. Whenever you are here, you must engage with legit people; otherwise, you get duped. There are many conmen disguised as businessmen always ready to take advantage of people who have limited information. The jewelry market is among those with many sellers and potential buyers in all places within the region. Diamonds are expensive pieces of stone that can attract a large amount of money if you follow the right procedure. To get the best out of the type of diamond you have, take into consideration the below factors.
1. Seek Help From experts
While your potential buyer can claim to know valuation, there is no guarantee they will undertake the procedure with your interests as a priority. Therefore, you must seek assistance from a well-trained GIA gemologist. The education they have in this subject places them in a better position to give you unbiased results.
2. Have Sufficient Information On Your Stone
Diamonds vary in terms of features, and you will get this information from the paperwork you get during purchase. It is called a GIA report. Take time, go through the details, and seek clarification from a professional in case of uncertainties. Being conversant with this information gives you an added advantage to bargain and get the best product.
3. Set A Time Frame
Making a haste decision can lead to losses through selling at lower figures than the actual value. Therefore, before you search for a buyer, establish the time you have at hand before getting rid of your diamond. In case you have limited time, then avoid consignments or bidding platforms. It is wiser to deal with a direct merchant who will offer you money immediately; they accept it. You can also check online for any offers but ensure that you meet the buyer in person or through an intermediary.
4. Reliable Buyer
NYC has a deep black market for diamonds full of buyers and sellers of this valuable item. Such an availability means to sell diamonds; you will have to take time and evaluate every seller you encounter to ensure they are legitimate. Ask around for reviews since it will reveal if they run a reputable business or not. One such reliable buyer is Luriya – sell diamonds here and you can be rest assured to get a fair market value for your diamond.
5. Understand The Market
Before you start looking for someone to buy your diamond, you must understand the depreciation of these items after purchase. The resale value can never be the same as the original quote, but with assistance from a professional, you have a guarantee of attracting a reasonable quote. With such information, you will get into the business with realistic expectations. You do not want to feel like you are getting robbed, considering you have used the diamond for some time.
Furthermore, please stay away from sellers using high-pressure tactics to try and coerce you into their whims. They might appear legit, but in the long run, you will get robbed. Although the market is not first-class, the entrepreneurs here need to operate with high levels of professionalism. Using an understandable language is required for the buyer not to feel otherwise. Suppose you have a grading report for the stone, carry it along to any negotiations to help in the valuation process. Please stay away from buyers who ask for money in exchange for a price quote since it has to come free of charge. With such information, have an assurance of dealing with a buyer who will offer you the best price. The valuation of diamonds is a thorough process that helps you establish the amount of money it can attract.
Professional diamond buyers use the 4CS to determine the actual value of the stone.
- Clarity: The clarity of diamonds varies depending on the level of brilliance. You could get a piece that can allow light to pass through with fewer invasions, otherwise called birthmarks. Such designs are expensive as compared to the dull ones.
- Cut: The appearance and beauty of the type of diamond determine how light reflects on the stone. Therefore, if it resonates more, it will attract a higher cost. If the stone is not cut by a professional, you can expect a far much lesser value than the purchase price.
- Carat Weight: Diamonds get ranked in carats. The results got are then converted into points; for instance, one carat is equal to a hundred points. The more the number of carat, the higher is its value. A diamond with lower spots is not an attraction, and many buyers will prefer not to take them.
- Color: The shades of diamonds range from yellow to transparent. However, the common man will sum up all tones as colorless. A large number of crystals have traces of brown or yellow in them. Such models seem unclear; thus, they do not go for attractive prices. The best in the market should be almost colorless upon professional assessments.
It is only until a stone goes through these methods that a buyer can demand a price. Having this information prior helps you to bargain for a better quote. When the lead discovers that you have no clue about the entire business and aims to get cash, they can take advantage of the situation for their betterment. Go through the internet and come up with a shortlist of at least three diamond buyers that seem ideal. Contact them to verify if they are indeed real dealers. If they have a physical shop, you can visit, but it is still ok if they trade online. Please send the details of your diamond and wait for them to give a judgment. The buyer should then quote that price, and you can ascertain if it is fit, depending on the results from the gemologist. If it is ok, you can accept then agree on terms of payment. Arrange how the buyer will get the stone. However, ensure the exchange is legit to avoid losing your diamond and the money as well.