How much is a loose diamond worth? Asked Harry
How much is a loose diamond worth? Asked Harry
Hey Tamay! My name is Harry and I’m from Illinois. Some years before my dad gave me a loose diamond as my first capital investment. It was a birthday present and I was very proud when I saw this beautiful, sparkling diamond. But now I’m in urgent need of cash and want to sell this good boy. Please evaluate the value of my loose diamond, I would love to learn how much is a loose diamond worth.
Harry from Columbus in Ohio
Hello Harry! Nice to meet you! I’m happy that you got in touch with me. A loose diamond is in fact a nice gemstone and also very popular as investment. More and more people see in loose diamonds, a safe and stable investment strategy. Diamonds are easy to handle and store, that’s also a reason why they became more popular over the years. Let’s get started now to detect the value of your loose diamond.
reDollar appraiser, Tamay Rostan
Harry wants to know, how much is my loose diamond worth
Harry: Hi Tamay! Thank you very much for getting back to me so fast. It’s really important for me to find out how much is a loose diamond worth.
Tamay: Hi Harry, my pleasure! I read that you are in need of urgent cash, that’s why I didn’t want to lose time. Please send me a photo of your loose diamond. Do you also have a diamond report of your loose diamond?
Harry: Yes I have a certificate, it’s enclosed to the diamond. I have sent you a photo of the diamond and the GIA diamond report, I hope that helps you.
Tamay: Yes it helps me a lot, thank you very much! I see you have a nice square modified brilliant. Your certificate is from GIA, the well-known Gemological Institute of America the founders of the “diamond grading and evaluation appraisal”, which was released in 1953. The measurements of your diamond are 4.92 x 4.88 x 3.56mm. We have a carat weight of 0.72 carat, a color grade F which is in the range of colorless, this is nearly the best color grade we can get for a diamond. In addition to that information your diamond has a clarity grade of SI1 that means “slightly included”, the category slightly included applies to diamonds that have noticeable inclusions that are easy – very easy to see when viewed under a 10x magnification. All in all a pretty diamond.
Harry: Thank you Tamay, I’m happy that you like my gem. What is the value of such a stone when I want to sell it? How much is a loose diamond like that worth?
Tamay: Well, if you buy this diamond new, then the price for such a gem with exactly that quality is currently around $1,960.00. The point is that this is a retail price and not a buying price. If you have much time to sell, then you can probably realize a price in that range but if you are in an urgent need of cash and you want to sell the diamond very fast, then I think you have to count with a markdown. I would say if you plan to sell this diamond to buyers like us, we can offer you around $1,372.00 for your diamond.
Harry: That’s a significant price reduction. Honestly, I have expected a higher price for my diamond.
Tamay: You have to consider three important things. The prices that we can pay also include our margin. We can only buy the diamonds and other valuables when we can make a little profit, otherwise our business won’t work. The second thing is, that the mentioned price is a dealer price, which means this price already includes a huge profit for the seller. And the third thing is that diamonds don’t have a quantifiable value like gold for example. Gold will be traded on the commodity exchange and has a real value that will be defined every day. So in case we buy gold we have a lower risk to bear than if we buy diamonds because what concerns gold, we are able to resell the gold within seconds. That also protects us buyers from price fluctuations.
Harry: Your explanation sounds absolutely plausible to me. I understand that it needs to consider many aspects.
Tamay: Yes and we want to be absolutely fair and transparent with our clients. We are of the opinion that we pay really good prices which exceed our competitor’s offers in almost all cases but if you feel unsure we can recommend you to start a comparison. Visit the local dealers in your neighborhood or give them a call and find out what they can offer you. I think their offer will be lower but maybe you are lucky and you’ll find someone who pays you more. The con is that this procedure costs time but it’s worth a try. Also selling to auction houses is an option but also that way of selling valuables is time consuming and expensive. Auction houses have high commission fees and a spontaneous sale is not possible, you have to wait for the next upcoming auction.
Harry: Hm, I’m not sure what to do. Do you think it’s a good time for selling loose diamonds at the moment?
Tamay: Well, in my opinion it’s a good time to sell loose diamonds momentarily. The prices for diamonds are very high at the moment and there is also a great demand for diamonds of every kind. The strongly growing middle class in China is only one reason why there is a high demand for diamonds and jewelry. Also the instable economy attracts more and more private investors as well as financial investors to buy diamonds and gold. The so called conservative investments besides real estates. So, yes, the point in time is good.
Harry: Thank you very much for the detailed appraisal and the stimulating and informative conversation. My question, how much is a loose diamond worth was answered so accurate, I’m thrilled. I will think about my decision but above all, the price of $1,370 for one little diamond is not that bad. I also appreciate your honest words and will think about your advice concerning the price comparison. Have a good day! Bye!
Tamay: Thank you for your feedback Harry. I hope I could help you! When you want to sell your diamond with us, we guarantee a quick and convenient transaction. The whole sales process doesn’t takes longer than 2 working days. If you have further questions, please feel free to contact me by email or phone. I’m always available for your needs! Good bye!