Learn how to use diamond price calculators to sell your diamond ring.
Selling Your Diamond Ring
There are many reasons someone may want to sell a diamond. You might be upgrading to a larger stone, received an inheritance, or perhaps you’ve ended a relationship and no longer wear your diamond ring.
Whatever the reason, you probably want to get as much money as possible for your diamond but don’t really know how. The good news is there is a ton of great information online to help you make intelligent decisions when selling a diamond, and which will result in more money in your pocket. In this article, you will learn how to use a free online diamond price calculator to help you sell your ring for the highest price.
First and foremost, it’s important to know the current retail market price of your diamond. That’s not because you will receive a cash amount close to the retail price, but because you will be using that retail price to help calculate a fair cash offer from a diamond buyer — which is about 40-50% less than the diamond’s sale price at a large online jeweler like James Allen. An online diamond price calculator is a great place to start to establish a rough market price for comparison.
Diamond Estate Jewelry Buyers has served thousands of clients nationwide with fair and generous cash offers for their diamonds, diamond engagement rings, and diamond jewelry. The process is fast, secure, and entirely risk free. Just contact us today, and we will get back to you within 24 hours with a preliminary cash offer (Monday – Friday).
Real Reviews From Customers
Thank you so much Paula for your professional handling of my heirloom diamond. When we first talked on the phone, your totally professional and knowledgeable demeanor regarding the read more diamond business assuaged any trepidation I had about sending my diamond. I was impressed with the way you shopped my diamond to get me the best possible price. When we agreed on the price the money was wired to my account within the hour. Well done! I will not hesitate to recommend Diamond Estate Jewelry Buyers to my friends and will tell them to ask for you by name!
Wonderful service! Paula made the selling process so easy for me from beginning to end. I live out-of-state, and she walked me through, step-by-step, exactly what to do to work with read more Diamond Estate to sell my diamonds. The process was effortless on my part! The owner gave me an excellent price. Paula was very professional and a pleasure to work with. I highly recommend working with Diamond Estate.
I needed to sell a 2 carat diamond and based on the excellent reviews, I decided to contact Diamond Estate Jewelry Buyers. I sent an email with the GIA report details and within 30 read more minutes I had a response from Paula with an estimated offer. After deciding to move forward, Paula emailed me shipping instructions and a prepaid FedEx label. I shipped my diamond and everything went incredibly smoothly. Paula, the buying consultant with whom I worked, was incredibly responsive and knowledgeable. I am absolutely thrilled with my experience and would recommend Diamond Estate Jewelry Buyers to anyone looking to work with true professionals.
I had a wonderful experience selling them my diamond ring. Paula was extremely knowledgeable and helpful. I would definitely do business with them again.
We had a 14 carat diamond and were nervous of mailing it out of state. We were reassured from the beginning of the easy process, but we decided to fly out to California to meet the read more people at Diamond Estate. From the very beginning we were met with professionalism and treated very well. After given a reasonable quote, we decided to get a GIA certificate for the diamond just to be sure what it was. Jackie drove us all over the place to different jewelers to look at it as well as the GIA lab. She spent a whole day making us feel at ease. Jackie took us around fully knowing that we could go with other people’s offers and still chauffeured us to each place. In the end we found exactly what we are looking for with the Help of Carl and Jackie. Great experience for 2 girls from Colorado. I would recommend them to anyone.
Can I Use an Appraisal to Learn the Value of My Diamond?
Having a written diamond appraisal and knowing the original purchase price isn’t enough information when selling a diamond ring. The reasons are:
1) A diamond appraisal is based on the retail replacement value for insurance purposes and doesn’t always reflect an accurate retail price. An online diamond price calculator will provide a more accurate number for comparison.
A diamond appraisal is often made by a gemologist who isn’t involved in the diamond buying or selling business on a regular basis. While there are some very good diamond appraisers who take the time to stay on top of current retail prices and are very professional, there are no regulations on diamond appraisal pricing, so it’s difficult for you to know if your diamond has been appraised accurately or not.
If a diamond appraisal was done by a jewelry store or a close affiliate of the jewelry store, rather than an independent diamond appraiser, the prices could be skewed even more.
Additionally, you could pay for a written diamond appraisal from an appraiser who performs re-sale market appraisals — which instead of appraising your diamond ring’s retail value, appraises its value on the second-hand market. But this can be costly and most likely the price won’t represent the true value of your item, which is what somebody will actually pay for it. With so many free online diamond price calculators available, it is best to consult these resources first before you spend any money on a formal appraisal.
2) There is volatility in the diamond industry. The date you purchased your diamond may have been during a period when market conditions were different, so prices won’t reflect today’s market. A reputable online diamond price calculator, on the other hand, will show you diamond prices that better reflect the current market.
3) You may have received a great deal from the jewelry store where you purchased your diamond, or you may have paid above market price. Unfortunately, it’s often the latter.
Ultimately, your diamond is worth what the highest bidder is willing to pay for it. Before going out and gathering quotes, it is wise to research the market price of your diamond, and what you can realistically expect to receive from a buyer. An online diamond price calculator can be a useful first step in this selling process, helping you to sell your diamond for the very best price.
Who Has the Best Diamond Price Calculator?
Below you will find the top 6 diamond price calculators that we’ve reviewed. Note that we are using the word “calculator” to include diamond search filters, because these filters basically perform the same function as a calculator.
The main difference is that instead of plugging the information about your diamond into a simple diamond price calculator, you are plugging it into the search filter of the website. Both will give you a good basic idea of the retail price for your diamond.
We’ve analyzed each diamond price calculator by the following criteria: “User Experience” which consists of ease of use, accuracy, and general functionality, and “Competitive Pricing” which we define as the best price to use to arrive at a fair cash offer from a diamond buyer:
50-60% of Competitive Price = Good Cash Offer*
*Note that we are talking about a very close match. Slight differences in the diamond can effect price, as well as if the diamond ring was manufacture by a luxury brand such as Tiffany & Co. vs a less sought after fine jewelry brand.
If you want to learn more about how to use a diamond price calculator accurately to sell a diamond ring for the most money, please read our suggestions after the list of 6 best diamond price calculators. It should be noted that we are not affiliated with any of these companies in any way.
#6 Washington Diamond Price Calculator
Washington Diamond is a simple diamond price calculator rather than an inventory of diamonds to browse through. We included them on this list because there is an elegant simplicity to their format which we like, and they seem to show up on the first page of Google at the top every time for the term “Diamond Price Calculator”.
Their diamond price calculator does not display actual diamonds for sale but rather a ballpark price for diamonds in a similar category as the ones you are looking for.
The diamond price calculator is extremely easy to use. Big points on simplicity. However, the biggest problem with this diamond pricing app is it doesn’t give you the option to enter important details that affect price considerably (like polish, symmetry, cut grade, or fluorescence). This means the diamond price you will get is not refined enough to provide you very much accuracy.
If you want to know, perhaps, what diamond prices might be found at a high-end jewelry store before any type of discounting or negotiating or sales, then the Washington Diamond price calculator can give you some sense of the market.
The way they work is you get a rough diamond price. Then you’re supposed to call them to speak to someone regarding buying or selling a diamond.
The prices were on the high side compared to actual diamonds in inventory offered by other online jewelry stores.
#5 Diamond Karma Calculator
We were excited to put the Diamond Karma price calculator to the test because A) they have an awesome name, B) they make a bold claim that they are “The Kelley Blue Book of Diamonds,” and C) their diamond price calculator is really simple and colorful and looks like a video game.
However, our excitement turned into confusion after we entered our diamond specs into the colorful calculator. It showed a jewelry store (brick and mortar) retail price of $11,495 for a 1.0 carat G-VS1 diamond with a Very Good cut, and an online price of $8,736 — which is actually about $2,700 more than JamesAllen.com sells a comparable diamond.
To their credit, the sales price given on a 2.0 carat G-VS1, Very Good Cut round brilliant diamond did fall around the average range of other online retailers, so it wasn’t as far off as their 1 carat price, assuming the stone had no fluorescence. Fluorescence is when the chemical element Boron is present in the stone. It can make the diamond look dull and hazy.
Diamond Karma’s diamond price calculator did not have a place to enter fluorescence as an attribute for a diamond, so if your stone has fluorescence, this diamond price calculator would not be able to factor that in. And keep in mind that fluorescence is an important determining factor on price.
To sum up, this diamond price calculator is ambitious, as it attempts to really cover the spectrum of the diamond market, which we thought was pretty cool. They have the following price categories, which we’ve never seen on any other diamond price calculator: retail price, online price, Craigslist price, and wholesale price.
We truly were rooting for them, as we’re a big fan of simplicity and complete data IF it’s accurate. We loved the concept, but they need to work on their price consistency across different diamond sizes.
Inconsistent across different diamond sizes, specifically on their 1 carat diamonds. When they miss the mark they risk the public having unrealistic expectations, and it doesn’t help their cause. Their pricing on diamonds in the 2.0 carat range were a little more close to being “competitive”.
#4 Rare Carat Diamond Price Calculator
Interesting concept. Instead of showing their inventory of diamonds, Rare Carat is more like the “Kayak” (online travel price comparison site) of diamonds. They even make the Kayak comparison claim in some of their marketing. They’re basically a middle man.
They show you a list of diamond jewelers (both online or brick and mortar) with diamonds that match the filter criteria you entered. You can check a box if you want to see all retail diamonds available online or only physical stores’ inventory – or both.
One thing we found inconvenient is when we clicked a diamond on the list (which matched our filter), it sent us over to another website’s general page, rather than directly where the diamond was that we had selected. This meant we had to create a whole new filter with our diamond’s specification on the new website we had been directed to.
We felt we were doing double the work, and it seemed time consuming, especially if we wanted to scan a few different stones quickly.
Another interesting feature they had was a bar graph showing whether the diamond listed was a good deal or not. Most of the diamonds that showed up were scored with only one bar and showed up as “poor deal”. We appreciate their honesty on the “deal rating” but would have preferred to see more diamonds that were good deals.
Overall, this calculator seemed a little wonky to use as a diamond price calculator. The reason they made it to number 4 is that the sites they sent us to seem to have somewhat competitive pricing, and we were able to discover several different online diamond stores we may not have otherwise found easily on our own just Googling around.
The diamond prices on a couple of the sites they were promoting seemed to fall into the fairly competitive price range.
#3 White Flash Diamond Price Calculator
White Flash has a nice looking site. One thing we noticed when we went to click the round diamond selection on the search filter: the default was set to show us all the fancy shapes, as well as the rounds, so we had to manually unclick every fancy shape, because that wasn’t what we were looking for. Maybe they were eager to get us to see all their fancy diamond shapes? Seemed a little unnecessary but not a deal breaker.
The rest of the diamond filter was smooth and easy to use. It showed us 10 diamonds, which was much less than James Allen and Blue Nile. But we get it. They’re a smaller company, so we didn’t take any points off for that.
Once the results popped up in a tile format, we noticed the diamonds that showed up on those tiles were just generic sample diamond pictures, rather than the actual diamond that was for sale. Not a big deal, just worth mentioning.
The diamonds were GIA certified, and it did allow us to open and see the certificate.
Overall, a simple and easy site to use. Because some of the big company sites are so advanced, the bar is set high for online diamond retailers and their corresponding diamond price calculators. But White Flash gave us the information we needed in a clear way, even if they don’t have all the bells and whistles of the bigger companies’ sites.
Competitive. On their larger stones, 2cts plus, their inventory was very limited.
#2 Blue Nile Diamond Price Calculator
With Blue Nile, it’s easy to search for specific diamonds with their filter. You get immediate results – no waiting for diamonds to load onto the screen. A tab on the left of the diamond list, shows how many diamonds they have available for sale that are within the range you are looking for. You can click the top bar and select how you want your diamonds to be sorted. We sorted them, so they show the lowest price first.
We loved the video showing us the actual diamond not just a sample placeholder. All stones are GIA certified. You can click the GIA icon and the certificate for the diamond will open up, and there’s a print option. Overall very easy to use.
Very competitive pricing and good knowledge to have when selling a diamond.
#1 James Allen Diamond Price Calculator
And the winner IS…. James Allen! For starters their diamond filter was incredibly easy to use. Instead of a list like Blue Nile, James Allen shows columns and rows of tiles with each tile displaying an actual picture of the diamond, zoomed in with brief details. Very nice touch.
To get more details we simply clicked the diamond tile icon, and it took us to a more comprehensive page, with a video of the diamond and all the diamond specifications.
The video is cutting edge. We could zoom in and out on the diamond, and we were able to move the stone to whatever angle we wanted to see it from, as if we had the stone on a pair of tweezers and were looking at it through a loupe and moving it around. We were able to see small inclusions and locate their exact location on the diamond. Simply spectacular.
If you really wanted to split hairs when comparing your diamond to one on James Allen, you can find one with similar type of inclusions. For example, a small white feather on the side of the diamond will probably sell for a higher price than one with a feather right smack in the center of the stone, even if the clarity grade is the same on both stones. The average diamond seller won’t take it to that level of detail when comparing their diamond to one on James Allen’s site, but if they wanted to they could.
The GIA certificate icon was easy to find and, similar to Blue Nile, we simply had to click on it to get it to come up full size; then hit the print icon if we wanted to print it out. A very nice feature for any diamond price calculator to include.
Very competitive. Best prices of all the online diamond price calculators, and the most accurate one to use when performing your calculations for a fair cash offer from a diamond buyer:
50-60% of James Allen Price = Good Cash Offer*
*Note that we are talking about a very close match. Slight differences in the diamond can effect price, as well as if the diamond ring was manufactured by a luxury brand such as Tiffany & Co. vs a less sought after fine jewelry brand.
Get a Free Diamond Appraisal & Cash Offer Now
How to Sell Your Diamond Using Diamond Price Calculators
Step 1: The Diamond Grading Report
To be accurate comparing your diamond to one found on an online diamond price calculator, you will need to have a GIA (Gemological Institute of America) Diamond Grading Report, so that you are matching apples to apples.
A Tiffany certificate will also be accurate and acceptable. An IGI (International Gem Institute) Diamond Grading Report will be close to a GIA, but not exactly, so you can only get a ballpark price. If you have an EGL (European Gem Labs) Diamond Grading Report or similar, you can do this exercise to get a very rough price but most likely the diamond will be over-graded, and you will not have very much accuracy.
We always recommend you acquire a GIA Diamond Grading Report, so the diamond buyers you contact will know exactly what grade the diamond is, and they won’t feel the need to hedge their bet by giving you a lowball offer.
Step 2: Start Comparing Diamonds
The next step is to find as similar of a match to your diamond as possible. You may not find an exact match for every measurement and proportion but that’s ok. The most important thing is the diamond grading. For example: color, clarity and cut. If your diamond has an excellent cut grade the comparison diamond should have an excellent cut grade.
Another important aspect is fluorescence. Fluorescence is caused when the element Boron is present in the diamond. This is categorized as: none, faint, medium, and strong. Make sure the fluorescence of the comparison diamond matches your diamond.
Note: fluorescence is considered undesirable and “strong blue fluorescence” will lower the value of your diamond by as much as 20% in most cases, and more than 50% in extreme cases where it causes the diamond to look very “milky” or “hazy”.
Step 3: Calculating a Good Cash Offer
Now that you’ve found your matching diamond on the online diamond price calculator, you will have a price that you can use as a basis for negotiating with a diamond buyer. From this price you can expect offers between 40% to 50% less. So, for example, a diamond that James Allen or Blue Nile sells for $6,000 will probably sell back into the diamond market for about $3,000 to $3,500.
Step 4: Finding a Diamond Buyer
Sell My Diamond to a Friend or Family Member
Find out if anyone in your social circle or family is looking to buy a diamond. This is probably your best bet to selling your diamond as close as possible to the price of an online retailer. If you’re not offering the buyer the same terms and service as an online retailer like James Allen, such as a 100% money back return policy and a lifetime warranty, then they will expect a discount. You can start at 15% off and work from there.
Sell My Diamond to a Direct Online Diamond Buyer
Your second best bet for selling a diamond is to a company who specializes in buying diamonds and jewelry online directly. They are considered “Direct Buyers” because they buy the diamond directly from the seller unlike companies who merely act as “middlemen” and charge a fee to sell.
Examples of “middlemen” diamond buying companies who charge a fee are jewelry auction websites and online consignment shops. You can ask whoever you’re dealing with if there’s a commission or fee to pay and if they say yes, you’re dealing with a middleman, not a “Direct Buyer” and paying unnecessary fees.
Generally, Direct Online Diamond Buyers are in cities that have a strong retail market and have a high demand for diamonds. There are some good ones out there. Make sure they are well rated with the Better Business Bureau, have good reviews, and are transparent about their process.
Sell My Diamond Ring to a Pawn Shop
Selling a diamond ring to a local or online pawn shop will usually yield a lower price due to the fact that they are in the loan and liquidation business and usually just sell to other dealers.
The exception to this rule is for wedding sets with smaller diamonds (under 0.75 carats) and/or commercial quality diamonds. These can be polished up and put back out for sale in their windows to budget-minded couples, who are looking to spend between $500 and $2500 for their diamond wedding set. If your diamond ring falls into this category, it is likely that you will get a higher cash payout from a pawn shop.
Sell a Diamond to a Local Diamond Jeweler
You can also visit local diamond jewelers in your area. The problem with selling to local jewelers is their main business is selling not buying from the public. They have strong relationships with their diamond suppliers who give them favorable terms such as a return policy and extended credit terms.
If they find themselves in a position to buy diamonds from the public, they will need to buy at a much larger discount than the price they can get from their established supplier in order for it to be worth tying up their capital.
Additionally, a local jeweler will be limited to their local market because they have a store to attend to, so may be overly cautious on price, thinking they may not be able to sell the diamond quickly.
The chance that your stone is exactly what a local diamond jeweler is looking for is slim since most of their customers have very specific requests. For this reason, most local diamond jewelers will buy a diamond from the public in order to flip it (sell it quickly to another dealer or jewelry store).
Local diamond jewelers make a profit between 100% and 300% when they sell a diamond ring to a retail customer buying it to wear or propose with.
They aren’t set up to work on wholesale profit margins like online diamond buyers. Their business model is to buy and sell lower quantities but make higher profit margins than an online diamond buyer like Diamond Estate Jewelry Buyers.
Local diamond jewelers spend a lot more time with each customer and provide a valuable service.
For the couple in love who want to experience all of the education and pleasantries of shopping for their perfect engagement ring, the local diamond jeweler can provide an experience akin to dining in a 5-star restaurant or staying at the Four Seasons Hotel. These experiences provide value and can create beautiful memories for the newlyweds to be.
But when the same business tells you they can also pay you the most for your diamond when the time comes to sell it, simple logic tells you there’s no way they’re going to work for a small profit margin with the amount of time and service they give their customers.
Sell My Diamond with an Online Auction
Selling a diamond ring with an online auction house is another option. These companies may have great marketing and may advertise that they will offer your diamond to hundreds of buyers, and then your diamond will be sold to the highest bidder. But what they don’t tell you is those hundreds of diamond buyers are jewelry industry professionals, not the public (i.e. retail consumers).
So, at the end of the day, you’re selling to a professional diamond buyer who’s looking to buy the diamond as cheaply as possible to resell it and make a profit and you’re paying a middleman a hefty commission to process the transaction.
Highly advertised online auctions require high profit margins to operate. Somebody has to pay for all those ads and the reality is the seller is the one who foots the bill.
Large corporate online auctions are profitable because they charge you, the seller, 22% right off the top before your diamond ever gets to the diamond buyer. In the diamond industry (before the diamond makes it into the jewelry store) 22% is considered a very high profit margin, and that’s coming right out of your pocket with no real added value.
They are selling diamonds to dealers at low wholesale prices, not to end users at full jewelry store prices, so they are essentially charging you a fee to sell your diamond at a price you can sell it for locally or through a direct online diamond buyer.
There are diamond buyers, like Diamond Estate, who will buy your diamond directly from you without charging a commission and will only make a profit one time, when they sell the diamond. No extra fees, no commissions.
Sell My Diamond Ring on Consignment
If you are considering putting your diamond ring with an online consignment shop, there are a couple things to consider.
Firstly, they set the prices at wholesale prices, basically what a diamond dealer would sell the diamond to a jewelry store for, not retail jewelry store prices. For example, one popular online consignment shop currently lists for sale a diamond ring with an estimated retail price of $23,740 at a selling price of $9,495.
Secondly, the company pays consignors 70% of the selling price. The diamond ring with an estimated retail value of $23,740 would thus yield the seller a final cash payout of $6,646.50. As a percentage, that ends up being about 28% of the estimated retail store price, and only IF the ring sells for the full asking price.
So, in this case, the consignor would end up with less than a third of the estimated retail price, or original price probably paid for a diamond ring like this. However, since the consignment shop will typically mark down and discount their jewelry, a more likely cash payout would be closer to $4000, or 16.8% of the estimated retail value. For comparison, a direct diamond buyer like Diamond Estate typically pays between 20% and 30% of that same retail value, or about $6500.
Thirdly, there is quite a bit of time involved when selling a diamond ring on consignment. Once a company receives your ring in the mail, it takes about 10 days to authenticate and get it up for sale. At that point, there’s no knowing when it will sell. And if it hasn’t sold within one year, they will return the ring to you. It seems like a lot of waiting in order to sell a diamond ring for a low wholesale dealer price, when you can get a higher payout from a direct diamond buyer like Diamond Estate, and be paid immediately.
Sell a Diamond Ring with Confidence
Discover why thousands of people nationwide have chosen Diamond Estate Jewelry Buyers as the smart way to sell a diamond ring, sell luxury watches, and sell estate jewelry.
As an A+ BBB rated business with 100s of 5 star reviews, you can be confident that you will receive a great price for your diamond ring. Get started now by requesting a free diamond appraisal from our GIA trained expert buyers for an immediate cash offer.
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Learn More About Diamond Prices & Appraisals
Follow the behind-the-scenes buying process that Diamond Estate undertakes when appraising the value of a diamond ring. In this particular case, it is a three-stone oval diamond engagement ring. Go to: Diamond Market Appraisal.
Learn how to read and understand diamond grading reports from the most respected diamond certification labs, such as the Gemological Institute of America (GIA), the Diamond High Council (HRD), and the American Gem Society (AGS). Go to: Understanding Diamond Certificates.
How can you figure out the best place to sell a diamond ring, when everyone is saying they are the most experienced; they have the best service; they pay the highest prices? We break down the pros and cons of diamond auctions, online consignment shops, and direct diamond buyers. Go to: The Best Place to Sell a Diamond Ring.