Diamond Articles

How to Sell a Diamond in the UK

April 30, 2018 - Diamond Articles
IMAGE
Holding onto a diamond or diamond jewellery that you are thinking about selling but not sure how to start? When you work with the right buyers, selling your diamond can be a painless process where you can soon enjoy extra funds in your bank.  Keep reading as we guide you through the procedure of how you can sell a diamond in the UK and where you can get the highest offer.

  1. Establish the quality of your diamond
  2. Find a diamond buyer in the UK
  3. Get a quote for your diamond
  4. Get paid for your diamond

 

1. Establish the quality of your diamond

If you would like to get a price quote for your diamond before scheduling an appointment or sending your diamond to a diamond buyer, you will need to know the basics of your diamond. Known as the 4 C’s, these will allow a diamond buyer to give you a rough idea of price:

  • Colour Grade: Indicates how much colour a diamond displays. Colour grades range from D to Z, with D as colourless and Z a light yellow.
  • Cut Grade: Refers to the cut quality and proportions of a diamond. The better the cut of a diamond, the better the diamond reflects light.
  • Clarity Grade: Denotes how many internal inclusions and external blemishes a diamond has. While a diamond may look flawless to the naked eye, imperfections can be seen when the diamond is examined under a loop.
  • Carat Weight: This refers to how heavy a diamond is in carats, commonly abbreviated to ct.

 

Other useful criteria to know about your diamond includes:

  • Shape: Diamonds are cut into various shapes, with round brilliant as the most popular cut. Diamonds of any other cut, such as ovals, pears or cushions, are referred to as fancy cuts.
  • Symmetry: Indicates how well aligned the facets of a diamond are including its crown, table, culet and girdle.
  • Fluorescence: Denotes how much a diamond glows when exposed to ultraviolet light. The more fluorescence a diamond displays, the lower its worth.
  • Polish: Microscopic surface defects may be created when a diamond is cut and polished. A diamond’s polish refers to how smooth its facets are.
  • Treatment: Diamonds may treated to artificially improve their colour or clarity. However, treated diamonds are considered less valuable than natural diamonds of the same characteristics.

You can find most, if not all, of this information on any official documentation you have for your diamond such as a GIA report. If you do not have any official documents for your diamond, you can meet with a local jeweller who can give you a rough idea of your diamond’s characteristics.

 

2. Find a diamond buyer in the UK

Below is an overview of the most popular diamond buyers in the UK:

Pawnshops:

PROS: This local and speedy diamond buyer can pay you in cash on the spot.

CONS: The payment for your diamond will likely be lower than what you could have received elsewhere. This is because most pawnshop employees are not trained gemmologists who can provide an accurate and honest offer in accordance to the second-hand diamond market.

 

Auction Houses:

PROS: Auction houses employ diamond experts who can properly price your diamond.

CONS: You must wait for an auction to be held and for your item to be bought, which may take months. When your diamond is bought, the auction house will take a percentage of your earnings. This can make for a long and drawn out selling process with a significant percentage taken by the auction house.

 

Hatton Garden:

PROS: A convent location for Londoners with various diamond buyers, some of which pay in cash.

CONS: It can be exhausting to keep meeting with diamond buyers who use high-pressure sales tactics. Many buyers in Hatton Garden are not trained gemmologists who can pay you what your diamond is actually worth, which means that you will likely be underpaid.

 

Online Ads:

PROS: If you wish to sell your diamond on your own terms, you can create an online ad on websites such as Facebook, Craigslist or eBay. With your own ad you are able to set your desired sale price and select a buyer.

CONS: You must be willing to wait indefinitely for your diamond to sell. Some people may not feel comfortable buying such a high value item from an unfamiliar seller, especially from someone without a history of selling diamonds or little to no reviews. You will also need to be careful of potential scammers who are feigning interest in buying your diamond.

 

WP Diamonds:

PROS: For a competitive an honest UK diamond buyer, WP Diamonds is your best choice. We offer a free, fast and secure way to sell diamonds and diamond jewellery in the UK, backed by a 100% trust guarantee. As a leading diamond buyer with a team of GIA trained gemmologists, we can accurately price your diamonds, diamond jewellery and luxury watches according to the current second-hand market. Sell by appointment or through our free Royal Mail service.

How Can I Sell a Diamond in the UK?

With our international presence and industry connections, we are able to provide you with competitive offers for your diamonds. You can feel confident selling your diamond with us thanks our hundreds of positive reviews we have received from satisfied customers.

CONS: Limited locations for in-person appointments. WP provides appointments in Birmingham, London, Bristol, Edinburgh, Manchester, New York and Hong Kong. However, you can always sell your diamond jewellery online.

 

3. Get a Quote for your diamond

Getting your quote from WP Diamonds is easy, simply fill out our online form and our experts will shortly reach out to you with a price estimate for your diamond. It is quick, easy and free of charge.

 

4. Get Paid for your diamond

Looking to sell a diamond in the UK? If you like your initial price estimate and want to hear your final offer, we provide two convenient methods.

  • In person appointment

You can have your diamond valued by our team of expert gemmologists when you schedule an appointment at one of our modern and secure offices. We offer appointments in Birmingham Monday through Friday from 10am to 5pm and throughout the year in London, Bristol, Edinburgh and Manchester. To make your appointment, please contact by clicking the button below. During your appointment, our gemmologists will evaluate your ring, provide you with a final offer and explain how your diamond was priced. If you accept our offer, you can receive payment by bank transfer. Appointments typically last 30 minutes.

How Can I Sell a Diamond in the UK?

  • Free shipping and insurance

If you prefer to sell your diamond from the comfort of your home, we offer a mail-in service. Once you receive your price quote we can send you a free Royal Mail Special Delivery Pack with instructions on how to mail your diamond. When you send your diamond through Royal Mail, you can feel at ease as your diamond will be secure and fully insured. When your diamond arrives at our office, you will be notified and it will be opened on camera and examined by our gemmologists. We will then be in contact you with a firm offer for your diamond and a thorough explanation of its price.  If you like this offer we can pay you by bank transfer. However, if you would like to have your diamond sent back to you, we will mail it back to you for free through Royal Mail.

Click the button below to learn how much your diamond is worth today.

Author
Bio: Written by one of our diamond, designer jewelry or luxury watch experts. With over 150 years of combined experience, our experts are able to comment on trends, share industry knowledge and provide diamond, designer jewelry and luxury watch education.

What To Do Next

Related Articles
IMAGE

There are many reasons to sell your engagement ring after divorce. These range from financial to emotional to practical. But what are the most popular reasons? We have put together a list of the five top reason...


IMAGE

If you are ready to sell your diamond jewellery, you might be asking yourself “where is the best place to sell my jewellery in the UK?” For first time sellers, finding the best place to sell your valuable d...


IMAGE

Looking to sell an engagement ring in the UK? With the right engagement ring buyer, selling an engagement ring can be a fast and hassle-free process. But how do you know who to work with among the endless amoun...



We guarantee the safety, security, and privacy of your valuables

We're Proudly Accredited By

Better Business Bureau Logo
  • NPA Logo
  • JVC Logo
  • Better Business Bureau Logo
  • Jewelers Board of Trade Logo
  • NAJ Logo