You want to sell your diamond ring but have some concerns about receiving the best price. Perhaps the economy isn't strong where you live, or maybe your diamond shape isn't as popular today as when you purchased it. You may have thought about selling your diamond to a small retail store or local jewelry company, but they are constrained by the demand of their marketplace; if they cannot find the right customer for your diamond, the price they can offer you will be significantly less than its actual value.
So, what can you do to ensure you receive the best price for your diamond? The answer is to find a diamond buyer with a global sales reach. An international sales platform increases the opportunity for a buyer to find the exact customer for your diamond, therefore increasing the value you will receive. After all, a buyer who has a need for a specific diamond will be enthusiastic to pay more for it than a buyer who believes the diamond will only languish in their inventory and tie up their assets.
Diamond prices fluctuate with supply and demand, and demand is influenced by economic health and consumer preferences. Cut and color trends seem to change every decade and are different for each geographic region. Even currency strength has an effect. Diamonds are traded in US dollars so when the dollar appreciates, diamonds in international sales may go for a higher price than they would have otherwise.
Factors to consider as you contemplate selling your diamond to international diamond buyers include:
- The international diamond market is growing
- Women are increasingly buying diamonds for themselves
- Millennials are more eco-conscious than their parents, which makes second-hand diamonds attractive
Here we take a look at a few of the major markets and what is influencing international diamond buyers and purchases today:
International Diamond Sales are Growing in China
In China, disposable income is rapidly increasing and consumer confidence is high. This has led to a growth in diamond purchases.
Millennials and generation Z are driving diamond demand, with 80% of diamond purchases made by those under 40 . Popular diamond sizes are smaller in China than in the US, with buyers placing more emphasis on clarity. More than 30% of international diamonds are purchased by women for themselves, with the number jumping to 50% in Hong Kong.
Diamonds for International Sale Often Come from India
India's currency volatility hurt the diamond market in the short-term, but it is expected to remain a high demand region for the sale of international diamonds in the long term. Consumer distrust has led many people to purchase only from well-established retail chains.
India polishes and cuts more diamonds than anywhere else, and diamonds from here are in high demand. Diamond buyers for international and domestic markets in India have an eye for quality and jewelry is viewed as an investment.
Buying Diamonds in the US Remains Stable
- The US is the largest market for diamond buyers internationally and growth remains steady. Popularity for diamond engagement rings has slipped a bit; only around 70% of brides are receiving a diamond, with one carat and larger being the most preferred size. US consumers will compromise on features like clarity and fluorescence in order to afford a larger diamond.
Look to Japan if You’re an International Diamond Buyer
- Japan is one of the top diamond markets for international jewelers and is expected to keep growing as disposable income increases and more women enter the workforce. Though marriages and the female population are both declining, the average young woman in Japan still has a strong desire to own a diamond ring. Secondhand diamonds are common in the Japanese market and many are shipped to international diamond buyers in China and India.
Sell Your Diamond for the Best Value
The price of your diamond is based on many factors - including the 4Cs (carat, cut, clarity, color) - but supply and demand plays a significant role. That said, finding a diamond buyer with an international sales platform can only increase the value you receive by securing just the right customer for your diamond.
With knowledge of regional trends and prices, international online diamond buyers, such as CIRCA, can offer the best price for your diamonds no matter when, or where, you decide to sell. If you want to know what your diamond is worth , CIRCA offers a few options for selling your diamond. If you have a Diamond Grading Report, you can submit it online here to receive a guaranteed offer range. However our diamond buyers must inspect the diamond in person before making a final offer, so we provide a free and insured mail-in service which makes it easy and rewarding to sell your diamond from the comfort of home. If you don’t have a Diamond Grading Report, that’s ok too. CIRCA’s diamond buyers are highly trained and uniquely qualified to determine the characteristics of your diamond without a report and are equipped to make on offer for your diamond as is.
If you would prefer to sell your diamond in person, CIRCA has 14 locations worldwide where you can meet with one of our diamond buyers in a private setting. You will receive a written offer, and immediate payment should you choose to accept. CIRCA makes selling your diamonds a luxurious and rewarding experience. Schedule a visit today.