How to Buy a Diamond

Buying a Diamond Online – from a business

Buying a diamond online, sight unseen is more of a challenge than appears.
After you have parted with your thousands you will soon receive what you purchased from the online diamond dealer.

It’s a small pretty thing, called a diamond - but how are you going to check it?

The dealer may be honest - but what if they made a mistake?

Do you have tweezers to hold it and do you know how to hold the diamond properly with a pair of tweezers?

Do you have a 10x magnifier (loupe) and also know how to use it, to view the diamond up close and to be able to see the laser inscribed number on the girdle, if any and/or the inclusions to identify the diamond?

Do you have proper lighting in your home?

That’s why most online diamond dealers that succeed have an office / store, so their customers can view the diamond in person after they have found it online. The advantage here is that the customer can be guided by the professional under ideal lighting conditions and use their tools and guidance to properly view the diamond, and be able to buy it confidently from them.

Buying a Diamond Online – from a private person

Private persons selling their diamond are doing so for mainly these reasons:

They may have changed their mind on the diamond.

They wish to upgrade / downgrade their diamond purchase.

Their engagement / marriage didn’t work out and they separated from their partner.

They need the money due to tough times.

The diamond was bought many years ago as an investment, and now they wish to sell it.

Some businesses out there will offer to buy diamonds from the public, but they offer too little money in comparison to the original purchase price of the diamond. It’s not unusual to pay $10,000 for a diamond and only get offered as little as around $3,000 by a diamond dealer / jeweller, even though the diamond is worth a lot more.
That’s why a diamond marketplace for the public to use (to buy and sell diamonds) is very helpful for buyers and sellers of the general public, but also equally beneficial for the diamond trade - because of the following reasons:

If customers of diamonds are offered a proper inexpensive outlet for selling their diamond(s) when they need to then it protects the value of their investment. This means that more people will be willing to buy diamonds and have more faith in the diamond industry, knowing that what they bought can be re-sold by them to anyone, without relying on diamond buyers that may offer too little.

PRIVATE DIAMOND INVESTORS CAN BENEFIT SUBSTANTIALLY BECAUSE IF THEY CANNOT SELL THEIR DIAMONDS PRIVATELY THEN THEY COULD BE WASTING THEIR MONEY INVESTING TO BEGIN WITH.
INVESTORS CAN RARELY MAKE A PROFIT OR BREAK EVEN SELLING THEIR DIAMOND TO A BUSINESS.

The only way a seller is going to minimize their loss substantially is to have the option of being able to sell their diamond privately, to another person.
Another person (the buyer) will be like the seller so they may want the same diamond that sells for $10,000 but they only can spend up to say $7000. That’s where a private sale of a diamond can be successful and beneficial to the seller as they may lose $3000 (30%) of what they paid, but it’s still better than losing $7000 (70%). It’s also very beneficial to the buyer as they got the 10K diamond they wished for - but within their 7K budget.
Buyers are further rewarded as if they ever needed to sell their diamond they can sell it for what they paid, ie: $7000 and not lose anything.

THAT’S WHY BUYING A DIAMOND PRIVATELY CAN SOMETIMES BE A VERY WISE CHOICE, AND YOU CAN BE HELPING A PERSON JUST LIKE YOU THAT DOESN’T NEED THE DIAMOND ANYMORE - BUT NEEDS THE MONEY.

Sell your diamond easier by obtaining credibility

Price is not everything as there is also credibility, which plays a big part.
A private buyer is more likely to trust buying a diamond from an established business than a private person, so the only advantage a private diamond seller has in their favour is by having a lower asking price for their diamond.
A private buyer will also need credibility to have an advantage over a business selling the same diamond. Most cannot get that so a way to compensate is to use the professional services of a jewellery valuer / gemmologist.