If you have found yourself in possession of a raw or uncut diamond you may be wondering what to do with it. Raw diamonds are diamonds that are uncut and unpolished. They look a fair amount different than the beautiful, sparkling diamonds that come to mind. But what can you do with a raw diamond, and can you sell them?
At Pinto Gold and Jewelry buyers we are the experts you can trust when it comes to selling your diamonds, gold, and jewellery pieces. Although we do not buy or sell raw diamonds, we are here to help you understand the process of selling your raw diamond. Raw diamonds will most commonly be found in loose format. For more information on selling loose diamonds check out our previous article, Can I Sell a Loose Diamond?
How to Sell Your Raw Diamond
Not every person or diamond buyer will wish to buy a raw diamond. Rough diamonds are sanctioned for their association with being “blood diamonds” and they are often imported illegally. In Canada, you will need to have the appropriate documentation available to verify your diamond and will also be limited in who you can sell it to.
Prove its authenticity – rough diamonds are not something that one finds every day. As there are sanctions on imported diamonds from some African countries you will need to determine that your diamond has been imported legally and that it is not being sold for the purpose of funding rebel groups in places such as Sierra Leone. You will need a Kimberley Process Certificate (KPC) to sell your rough diamond in Canada.
Get Your Diamond Appraised – getting your diamond appraised is the next step in your rough diamond selling process. The appraisal value and the amount you can sell it for may not always match.
Sell it to a diamond buyer – rough or raw diamonds need to be cut and polished before they are used in jewellery. For this reason, not all businesses will wish to buy your rough diamond. You may need to do some searching to find a reputable buyer who is willing to purchase your rough diamond.
How Much Will I Get for a Rough Diamond?
The price you get for your raw or rough diamond will depend on many factors including the size of the diamond. It is not common for a person to have a rough diamond in their possession. Always be sure that you are following the appropriate guidelines for ensuring that your diamond is genuine and ethical in order to get the best price for your diamond.