There are many grounds for which you may desire to trade a diamond that in your possession. Perhaps you’re going through a divorce, or you are strapped for money but the reasons why doesn’t really matter, it’s obtaining the greatest price you can that matters! The method to get the greatest price for your diamond is to not be rushed so slow down, and systematically go through all of your options – there are several.

First of all, have your diamond appraised - actually, get it valued by 2 to 3 jewelers to get an accurate estimation of of it’s value. Tell the appraiser you want the Rapaport Value, which is the wholesale value of your stone, which essentially lets you know the greatest price that you might sell your stone for. If your diamond has no certificate, you should consider obtaining a certification from GIA since this can allow you to obtain a better price for your diamond as well.

First, endeavor to sell the stone yourself, to those that you know, as friends and family members could be curious. If you have no luck with your friends or even family members, then you should turn to outside sources but absolutely avoid pawn shops! A pawn shop will only offer you about ten percent of what your diamond is worth! Also avoid offers involving selling your ring on consignment. There are several different things that can go badly, and there are many diamond swindles –even within well known jewelry establishments.

If your stone is important to you, then you should earnestly think about auctioning it through one of the reputed auction houses, like Christie’s or Sotheby’s. If it isn’t what is considered an ‘important’ stone or a high-end example, you should attempt to trade it to an individual through classified ads, or perhaps eBay. Nevertheless, selling to a person whom you don’t know may place you in a dangerous situation – and even more so if your diamond is valued highly.

The last choice would be a jewelry shop. It’s vital that you do not let the diamond out of your sight while in the jewelry shop – as you may find that the diamond you walked in with is not the stone that you leave with! The trader may try to tell you that your stone is of bad quality or lightweight and inevitably, there will always be an issue with your diamond. This is where your estimate and/or certificate should come in handy and if the jeweler is fair, they’ll propose between 60 and 80 percent of the value of the Rapaport Value. Don’t take a price lower than that and once again, do not let your diamond out of your sight till you’ve received payment for it.