There are a variety of reasons why you may find yourself with a loose diamond, and often it can be hard to know what you can do with it once you have one. Sometimes a diamond may come loose from a setting while other times, you may have leftover stones after re-purposing a piece of jewellery.
No matter why you have them, loose diamonds can be valuable. But what can you do with them? In this article, we will outline your options for utilizing your loose diamonds by either repurposing them or selling them as they are. You are not without options and are sure to find the right solution for your situation.
Do you have questions about your stone or would like to find out how to authenticate it? Consider reaching out to a professional diamond buyer such as the experts at Pinto Gold and Jewellery Buyers. We are always available to personally walk you through the process of selling your diamond and provide the answers to all of your diamond selling questions.
What Can I do With a Loose Diamond?
Having a loose diamond can be a frustrating experience. Without having the diamond housed in a piece of jewellery it can be difficult to keep track of and worrying about it becoming lost is a real worry. Thankfully, you do have a few options available to you when you are looking for a solution for your loose diamond.
Generally, there are two options available when considering what to do with a loose diamond. You can either have the diamond set into a piece of jewellery or you can sell it. Choosing to have a diamond placed into a new setting can be a great option for someone who has a diamond that has been passed on by a family member where it holds sentimental value.
There are endless options available to you when choosing what to do with a loose diamond. Your diamond may be able to be used in a ring, necklace or even earrings depending on the size and shape of the diamond you possess. Consider reaching out to a professional jeweller or goldsmith to help you find the perfect option for your diamond.
If you are not interested in turning your diamond into a new piece of jewellery selling it might be the best option for you. When considering selling you have a few options, but many sellers find that turning to a professional diamond buyer makes them feel more comfortable and satisfied with the process.
If you would like to consider selling your diamond on your own without a professional diamond buyer, you can consider selling it online. See our guide on “How to Sell a Diamond Online” for all you need to know about selling a precious stone online. Always remember to stay safe while selling privately to people you do not know online.
How Can I Tell If My Diamond Is Real?
One of the seemingly largest obstacles that you may face when looking to sell your loose diamond is not having authentication for the stone. You may not necessarily need to obtain a certificate of authenticity if you choose to sell your diamond to a professional jewellery buyer. In most cases, they are able to give you an appraisal on your stone based on their professional opinion. They may purchase your stone based on this appraisal without the need for paperwork.
If you are looking to sell your diamond privately, most buyers will expect proof that the diamond is real. In this case, it would be ideal to obtain a grading report of the diamond. The GIA Diamond Grading Report may be your best bet for selling your loose diamond privately for the best price.
For more information on how to obtain a GIA Diamond Grading Report or for how to sell your diamond without paperwork see our previous article “How to Sell a Diamond Without a Certificate.”
Can I Sell a Diamond That I Found?
If you have found a loose diamond you may be of the mind of “finders’ keepers.” Though trying to locate the owner of the diamond would be an ethical choice, it is truly up to you what you do with something you have found. It would likely be difficult to locate the owner of your diamond, but you may wish to try to do so. Consider posting about what you have found in local groups but don’t give away too many details as to simply have anyone claim that it is theirs.
Any diamond that you find will likely be found without paperwork. For this reason, you may wish to sell it to a professional diamond buyer. Otherwise, your best course of action would be to obtain a GIA Diamond Grading Report to best understand the value of the diamond you have found.
Where Can I Sell My Diamond?
Selling your diamond can be a stressful process. Attempting to sell it on your own can amplify the stress as you are required to deal with your buyer and their questions directly. Though in theory, you can sell your loose diamond anywhere you like, it may be beneficial to take your loose diamond to a professional diamond buyer.
By turning to a professional you can feel assured that your diamond is being sold for a fair price while also not having to go through the headache of selling it on your own. This is particularly important when selling an item that may have a sentimental value attached to it. A professional buyer will walk you through the process so that you understand exactly why you are being offered their price. A professional buyer can easily assist you with selling loose diamonds with or without a certificate.
Always remember that the price you paid for the diamond will likely not be the price you are offered from any buyer. For more information on how to price your diamond see our previous article “How Much Can I Sell My Diamond Ring For?”