All You Need To Know About Selling Loose Diamonds
Finances

All You Need To Know About Selling Loose Diamonds

All You Need To Know About Selling Loose Diamonds

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As one of the most sought-after gemstones to adorn necklaces, rings, sceptres and tiaras, among others, diamonds are held up to rigorous standards which only make them more valuable. If you find yourself in a situation wherein you are in urgent need of money but are short in cash, you can turn to the diamonds in your possession and they can fetch you the much needed amount and even more. A few loose diamonds can be liquidated into cash, especially when you go to the pawnshop, which is your best option as it will grant you a fair price for your treasured gemstones.

Learn About Your Diamonds

Doing a bit of research on your loose diamonds before selling them would serve you well as you would have an idea of their value. You become aware if the price the pawn broker offers you is fair. You can find free resources online that will give you more knowledge about diamond grading. There are many articles explaining a diamond’s 4 Cs – the grading system used for diamonds universally.

Locating A Good Pawn Shop

Searching for pawn shops near me on Google will lead you to a list of nearby and reputable pawn shops to sell your loose diamonds to. Take note of their address and pay them a visit. As there will always be residents who like to pawn valuables, your city would likely have at least one pawn shop.

What Pawn Shops Accept

Google is your best friend when it comes to research, even in knowing what will sell with pawn shops. Type a few words and press enter, and you will have a list. When it comes to loose diamonds, each of the shops would gladly check them out and would give you an enticing offer after scrutinising the stones. Items that a pawnshop accepts include:

  • Gold Jewellery
  • Gold & Silver Bullion
  • Scrap Gold
  • Loose Diamonds
  • Luxury Watches

 

GIA Certification Of Your Loose Diamonds

The pawn shop would want you to present the paperwork that would indicate that your loose diamonds are GIA-certified and if they have been cut and graded. Be ready with the needed documents when you sell your diamonds, albeit the shop would still want to take a look at your stones even if what you have in your hands don’t have any certification. There are online resources that will tell you how to get a GIA grading report.  

Personal Loan Security

Planning to start a new business? Those loose diamonds you have with you could be used as security for a personal loan to use for the business. Just bring them to a trusted pawn broker. A lot of people have acquired assets they have no intention of selling. In such case, a pawn shop would still be glad to provide you an amount as loan, with the loose diamonds serving as collateral.

Loose Diamonds As Good Investment

A few years ago, you bought those loose diamonds, knowing that someday you could use them in times of emergency. Now that the urgency and need for some cash has come knocking at your door, you can take your diamonds to the pawn shop for valuation. With all the knowledge you’ve gotten from researching about diamonds, you would be able to determine whether the shop’s offer for your stones is reasonable or not. If it is, then you could either decide to sell or just take up a loan, using your diamonds as collateral. Should you decide to hang on to the stones, you can expect that they will appreciate in value.

All You Need To Know About Selling Loose Diamonds

Image Source: Unsplash

A good pawn shop will give you a fair price for your loose diamonds, all you have to do is to locate one near you. It’s so easy to find a good shop near you with just an online search.

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