They say that diamonds are forever — but there are times when one needs to let go of that cliché in exchange for cash that can be used for more immediate and important needs like paying for a house mortgage or starting a small business. Here are some tips on finding the right diamond buyer for your pre-loved heirloom.
High Payouts
Appraisers differ on how much they put value to your item. Look for one that offers the highest value so you get more out of your diamond. The ideal payout for diamonds is currently set at around $100 per karat so select a buyer that is willing to pay that amount or more. A good buyer also list prices that are clear and simple so it the sellers won’t get confused.
Transparency
Make sure that everything — from testing, appraisal, to payout — is done in your presence. Be aware of buyers who take your item to the “office” for it to be appraised. A lot can go wrong with your diamond out of your sight. If the seller has a website, check it out and learn how they go about their appraisals. A good seller also does not charge for the appraisal process.
Accessibility
The location of the buyer’s store is important because you want it to be easily accessible from your house. Look for sellers that are within commuting areas and if you’re driving a car, one that offers ample parking space. Some buyers operate from Monday to Sunday to ensure that customers are attended to 7 days a week.
Privacy
Selling your item should be a private matter and a good buyer should respect that. The buyer should take your privacy seriously and should not give out customer information. Make sure that they don’t keep mailing lists or distribute newsletters.
Accuracy
Testing and measuring precious metals and gems is both a science and an art and good buyers employ state-of-the-art technology and methods to do their appraisals. It also shows how committed they are to the craft of appraisal.
Trust
Look for a seller that offers personal and friendly service — one that makes you feel confident and comfortable that your gems are in good hands.
Toronto Gold
When you are in Toronto and in need of a reputable buyer that caters to sellers of precious metals and gems, you may want to consider us. We’re easily accessible via commute on the Bloor-Danforth subway line. We offer free appraisals and everything is done in front of you so you are confident that your item is not tampered with. We are open all 7 days of the week ready to buy diamonds at 100$ a karat for items 0.25 karats or more. We offer the best diamond price compared to other sellers in North America.