Buying Used Diamonds

There is nothing wrong with buying a used diamond. Remember that natural diamonds come from the Earth, so they were never really new when they were mined. They had already existed for some time – they just had not been owned by anyone. You can get great deals buying used diamonds.

In fact, the diamond that you bought from the jeweler may in fact be a used diamond. Jewelers and dealers are constantly buying diamonds from individuals, as well as from companies that mine and process the diamonds.

A great place to buy a used diamond, however, is an estate sale. Often when someone dies, the heirs want to liquidate the estate quickly in order to split the money. It’s crude, but it is a fact of life. Often, they sell antiques and such at very low prices, not even realizing what they have. Often, they fail to get anything appraised. This is an opportunity for you.

Another option was mentioned earlier – online auctions. People often sell their jewelry. Diamond rings are commonly sold when a marriage or engagement ends. People also sell jewelry that they have inherited. The setting of the jewelry really doesn’t matter. Diamonds can always be un-mounted and put into a new mount after you have purchased the jewelry.

Also check your local newspaper classifieds for used jewelry that contains diamonds. Often, the people selling their jewelry through the classifieds have not had the gems appraised. All they know is how much they paid for it, and what it is worth to them.

Depending on how badly they need the cash, or the situation that prompted them to sell the jewelry, you may find some really nice deals. For example, a woman scorned may sell a very expensive wedding or engagement ring very cheaply just to insult the man who scorned her.

So, don’t assume that jewelry stores, dealers, or online dealers and jewelers are the only places to find beautiful diamonds. Individuals sell jewelry all the time. However, you may need to pay to get the certificate for the jewelry, and of course you will want to get it appraised. If buying from an individual who lives good distances away from you, in a situation where you cannot view the diamond in person before the purchase, hire an escrow service.

In most cases, individuals selling diamonds will not pay for the certification or the appraisal. This is something that you must pay for.