If you’re looking to realize your diamond value, one of the best ways to do so is by working with a diamond broker. A diamond broker is one of several places your can sell a diamond. But how do you find a diamond broker? Here’s our 9 step guide to finding the best diamond broker to work with so you can earn more for your diamonds and jewelry.
- Do they take their time in walking you through not only your diamonds expected selling price, but show you exactly how they arrived at that particular number? Providing you with information on the current market, recent sales, and current active listings of similar diamonds.
- How are their fees structured? Many brokers will simply offer you a guaranteed payout price with no indication of the actual final sales price. So you have no way of knowing if they made 15% or 200% on your stone.
- Seek transparency. You want a broker that will state their exact commission structure based on the final sales price.
- Make sure that the terms and conditions are clear and understood with no hidden fees.
- Inquire about their strategy to sell your diamond. How and where will they market your stone? How big is their buyer base?
- What is their standing in the industry? Are they accredited and in good standing with reputable organizations such as the Better Business Bureau and Jewelers Board of Trade?
- Ask for proof of adequate insurance coverage and inquire if their provider specializes in the diamond and jewelry industry.
- Is there any financial risk to you as the seller if the item does not sell? Are they willing to front the cost of things like shipping, marketing, or obtaining a GIA diamond certificate on your behalf? If they are not willing to put a stake in the game, what does that say about their confidence in their ability to sell your diamond?
- Finally, trust your own instinct. You are seeking a partner to help you in selling an expensive and often cherished item. You want a broker that understands and has genuine concern for you and your particular situation. One who will handle your transaction with care and concern, working diligently to get you the best possible price, just as they would for their own family member.