Diamonds are one of the most valuable gemstones in the world. Hence, most people consider their diamond rings as a future investment as well. After all, it is one of the best ways to get quick loans when you are in need. There are many options for selling your big diamond rings such as physical jewelry stores, online diamond ring stores, auction houses, pawnshops, individual diamond buyers, etc. Usually, people may opt to sell their diamond ring online, obviously because of the convenience. Plus, the seller will be able to reach out to remote customers or diamond markets in this case.
Note that the chances of getting a better price for your sparkler will be more in such cases. However, selling diamonds online is not as simple as it seems. You may lose your diamond ring if you do not pay attention to its shipping. Plus, you may find other online diamond selling processes such as appraisal, payment, etc., troublesome. Below are some of the major downsides that you must be aware of when selling your designer rings online.
Shipping
Unlike online diamond buying process, the responsibility of shipping your diamond rings safely will be on your shoulders while selling them. Note that there are chances for your diamond rings to get stolen or damaged during the transportation. In order to address such issues, you will have to insure your package and this can be really expensive depending on the product. You will be able to claim your diamond ring price with proper insurance. However, in case you were shipping your heirloom jewelry, even an insurance payout will not be enough to address your emotional loss.
Reputed Vendor
You must first ideally choose a trustworthy vendor in order to sell your big diamond rings online. Once you send all the details regarding the sparkler to the dealer, everything will be in their hands. They will find you a prospective buyer and close the deal. Just like all other fields, there are many scams in the cyber world as well as the jewelry field. So, the chances for you to get scammed by a fraud diamond trader is more here, especially if you are an amateur.
Appraisal Process
In some cases, the buyers will pay you the money only after appraising the diamond rings. From their point of view, this step is justifiable. However, you are taking a huge risk here since you are giving the authority of your valuable property to an unknown person. Plus, you may not get face-to-face interaction with the buyer or their appraiser. Hence, it is better to get your diamond rings appraised beforehand by a credible gemologist in order to avoid any confusion while selling them. Nevertheless, note that the diamond ring appraisal is relatively an expensive and time-consuming process.