Introduction: Diamond Resale Price
While a diamond has a large amount of value to its owner, in sentiment or importance, determining the resale price has many variables. When pricing a resale diamond, there are many factors to consider, from seasonality and location to condition and shape.
How does the season affect the diamond retail industry?
When to Sell Diamond in Palm Beach
Though the resale value of the diamond might remain consistent, the resale price and demand of the diamond changes with the seasons. There are many times during the year when a jewelry store is busy. From Valentine’s Day to Christmas and New Year’s Eve, holidays can drive business for people looking to buy an engagement ring and propose during the winter months. Because of this rise in demand, jewelers are more likely to need a larger stock of diamonds. This can lead to a higher resale price, thus giving the seller more money for their prized possession.
This is not to say that diamonds are not valuable in the less busy times of the year, but it is wise to take advantage of the higher demand in the holiday season. A seller could still sell their diamond between March and November, but they might not get as much money in return as the higher demand months.
What factors determine your diamond’s value?
Sell Diamond in Palm Beach
Diamonds are not one size fits all. When appraising different stones, from different cuts and shapes to clarity and size, many factors are considered.
- Diamond Size
This might seem obvious, but the size of the diamond has a major effect on the resale value. The larger the diamond, the more valuable it will be typically. The size of a diamond is measured in its carat weight, which is the unit of measure that buyers usually refer to when searching for a diamond or gemstone. Some buyers will want something around a preferred weight, while others will insist that a stone is specific. Furthermore, diamonds with the same carat weight can and often have different dimensional sizes. For example, a buyer might be looking for a one-carat diamond for an engagement ring. They could say that they insist that the diamond is at least one carat and will not settle for a stone that is 0.99 carats. On the other hand, if a buyer is looking for a pair of diamond stud earrings, they might not care about the specific weights of the stones as long as they are dimensionally the same so that they match.
- Diamond Shape
There are several different shapes of diamonds. From emerald cut to round and every shape in between, the shape of a diamond determines its value. This is because different shapes are rarer and more sought after than others. However, diamond shape trends have a major effect on value at a particular time. Aside from the classic round diamond, other gemstone shapes have different popularities at different times based on fashion trends and style preferences in a particular year. Below is a list of some diamond shapes, and facts about their value.
It is no surprise that this classic diamond shape is usually the most expensive. This is because it is the most popular shape. As described, the round diamond is a circular shape that reflects light and sparkles in a way that other diamond shapes do not. This is due to the larger number of facets in the diamond shape. A facet is a side of a gemstone that acts as a mirror to reflect light and color.
Like the round, the oval shape has many facets and reflects light well. The oval diamond has a relatively high value but less than the round. This shape raises the resale price when longer diamond shapes rise in fashion trends. This shape tends to make fingers look longer.
Shaped almost like an eye, this shape falls somewhere in the middle of diamond shape values. This is one of the less popular shapes.
Symmetrical like the round shape, the princess is a square-shaped stone that catches and reflects light in an x-shape. This shape is in the middle of diamond shape values but can rise in resale price when square and rectangular-shaped diamonds are popular.
The least popular diamond shape, the cushion shape typically is also the least valuable. It is a rounded square shape, with fewer sharp facets than the princess cut.
One of the lower valued shapes, the emerald, is a long-cut rectangular shape. While this is usually less valuable, this is not to say that it is less popular since it is often a favorite shape by many jewelers. It is often considered less valuable because it is tough to hide flaws in this shape, so the stone to be appraised has to be nearly perfect to the naked eye to be sold.
The cut quality of the diamond measures the stone’s ability to reflect light, as well as its symmetry and depth. This dramatically affects the diamond’s overall sparkle and shine, which is important to the diamond buyer. If the cut is not high quality, the diamond might appear dull or lackluster, while a high-quality cut diamond has strong sparkle and shine.
- Color of your diamonds
While many people know that diamonds come in different colors aside from the traditional colorless stone, diamonds are graded on their natural color. From colorless to canary, diamond values are greatly affected by their color. The colorless color grade is the most valuable, but the diamond buyer might also accept the faint color grades. Other buyers might like the character that a yellow diamond provides. This is also affected by trends.
- Diamond Clarity
Diamond clarity is the presence and appearance of imperfections in the stone. Think of it as looking at a piece of ice. Some ice cubes appear completely clear, like a shard of glass, while others have cracks or bubbles in them. The same thing can happen with diamonds. The flawless diamonds have the greatest value. However, this also depends on the diamond shape and how obvious the appearance of imperfections is within the gemstone. Some diamond buyers only care about how obvious the imperfections are rather than the actual grade of the diamond clarity.
- The person buying your diamond
While all diamonds have certain grades dependent on their cut, clarity, size, and shape, the resale price of a particular diamond is entirely in the control of the person buying the diamond. As mentioned previously, some buyers will prefer a high-quality stone with perfect grades across the board and a large carat weight. Other diamond buyers will accept stones that pass the eye test and meet the characteristics to have the perfect stone. It is also important to mention that the resale price of the diamond can depend on how much or how soon the buyer needs to have the rock. Suppose the buyer is simply a connoisseur of loose diamonds or diamond jewelry. In that case, there might not be a sense of urgency, leading to the buyer wanting to spend only a certain amount on the diamond. However, if the buyer is looking to propose within the next month, they might spend more to acquire the item.
Sell Diamond in Palm Beach
When reselling a loose diamond stone or diamond-mounted jewelry, there are many factors to consider, from size to clarity and even determining the right time to sell the diamond. For many buyers, diamonds need to simply meet the eye test, while others want a rare stone that meets all high-quality standards. It is important to remember that bigger is not always better. Many buyers prefer a clear stone over a large one with many apparent imperfections.
Selling a diamond can be a big decision and should not be taken lightly, especially if the particular piece holds significant sentimental value or has a long family history. Sellers must discuss this choice with others to make the right decision.
Here at Diamond Banc, we take pride in providing an expert evaluation to give you the most accurate value in your quote. We will buy your prized possessions and precious family heirlooms, from diamond jewelry to other gemstones. We offer flexibility and transparency when you allow us to buy one of your items. Visit us today at one of our locations for more information. We look forward to working with you.