Diamonds may be forever, but they are no exception when it comes to trends. As a gemologist, I see different diamond styles come in and out of fashion every year. Whether it’s a preference for more tradi...
How to sell diamond pendantsApril 5, 2017 - Diamond Articles
The word ‘pendant’ derives from the Latin word ‘pendre’, meaning to hang. A diamond pendant is a form of jewelry that suspends around the neck, featuring a diamond at the lowest hanging point. The difference between a diamond pendant and diamond necklace, is that a necklace may feature jewels on several parts of the chain.
How much is my diamond pendant worth?
The value of your diamond pendant is dependent on several factors:
- The brand – If your diamond pendant is from a luxury, designer brand, then the pendant’s value will be determined based on their entirety of the piece. See here for more information on how much your designer jewelry is worth.
- Vintage or antique – Again if the jewelry piece is vintage or antique and of great quality and craftsmanship, the value will again be based on the totality of the piece. If the item is rare, beautifully designed and made from high quality materials, the item’s value will be based on the piece as a whole.
- If not vintage, antique or by a luxury designer brand – The value will be attributed to the largest stone. The value of the stone will vary depending on the 4 C’s: carat weight, the cut, the clarity and the color. Click here for more information on the value of your diamond.
How do I sell my diamond pendant?
Your first step should be to gather any documents (if you have them), such as a certificate or jewelers appraisal. Any information you have about your diamond pendant will be useful in the assessment of its value.
If you do not have any information, we recommend that you go to a small, local jewelers. They should be able supply you with key information about the diamond in the pendant. The information you will require is: carat weight, color and clarity grade of the main stone. Although most jewelers will necessitate payment for a detailed written appraisal, a verbal appraisal giving you a rough idea of carat, cut and clarity should be provided free of charge.
Your next step is to decide how you would like to sell your diamond.
Where should I sell my diamond pendant?
- Pawnshop: If you need money fast but are not willing to sell your diamond, you have the option of pawning your diamond. However, pawning your diamond does mean that if you want to eventually retrieve your diamond, you will need to pay interest on the loan that was provided to you by the pawnshop. For more information on pawning versus selling your diamond, click here.
- Online Auction Site: Auction sites such as Craigslist and EBay enable you to sell your jewelry online, from the comfort of your own home. However, as these are not specialist sites, you may not receive the true value of your diamond pendant. Furthermore, it can be a long process with no guarantee that it will sell.
- Auction House: Selling jewelry at specialist auctions is a great way to make sure your item goes to an expert in the field. However, these auctions are often few and far between and are only suited to extremely rare and valuable pieces. The selling process is therefore lengthy and often requires you to travel a significant distance, with once again no guarantee of sale. It is also worth noting that the auction will take a percentage of the sell price.
- Jewelers: You can also sell your diamond directly to, or on consignment, to a jewelry store. While consignment can feel like an easy way to sell your diamond, it can take months or even years, if you diamond even sells at all as you are limited to buyers in your local area. Local jewelers are only interested in certain pieces that sell well in the area and they will take a percentage of the finale price.
- Expert Diamond Buyers: selling your diamond jewelry to specialist diamond buyers is both quick and pain-free. At WP Diamonds, our GIA trained gemologists have a combined 150 years experience in the diamond industry and are able to accurately value your diamond pendant. With no commissions deducted or fees for our service, you can rest assured that the final amount offered to you is what you will receive. We have an A+ rating from the Better Business Bureau and offer you a fast and safe transaction, with the entire process taking as little as 2 days. Get the best possible price on your diamond pendant by working with the experts in diamond buying. Fill out our simple online form today to receive your initial price range.