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We all know that the accumulated melee and single stones collecting dust in your store represent a missed opportunity to generate cash flow for your business. But how do you make sure that when you do sell them, you get the highest cash prices and don’t expose yourself to any undue risk in the process?
Determining the value of your diamonds
While it may be tempting to sell your diamonds to buyers visiting your pawnshop, for what seems like a reasonable price, it’s likely that your diamonds are in fact worth a lot more. Consulting certified diamond experts like Rapaport, who help many pawnshops just like you, will ensure you are aware of the full value of your melee and single stones.
How to get the highest cash price
The key to getting the highest cash market prices for your diamonds is to expose your inventory to as many competing buyers as possible. Platforms like in-person and online auctions encourage competitive bids from top-tier buyers for your diamonds. Selling your goods in international auction houses with global reach like Rapaport Auctions, amplifies the advantage of competitive bids to get you even higher prices.
How to sell safely
When it comes to diamond trading, working with partners that you can trust will ensure that you don’t expose yourself to undue risk and provide you with peace of mind. It’s advisable to seek out companies with a good reputation and a proven track record of working with pawnbrokers.
Choose a partner who is well-established and has access to the top diamond buyers around the world to ensure a reliable and profitable return on your diamonds. Work with a partner who puts special emphasis on personalized care and professional service so that the process is hassle-free, and you can feel confident that your diamonds are in safe hands.
Choose the right platform
After gauging all the available sales solutions, focus on the platform that generates the highest return with the least headache.
If you identify auction houses as your best option, you can decide between local, national, and international exposure and single out the one that best suits your turnover timeline and cash return expectations. The global market offers the broadest range of potential buyers, so an auction partner operating at this scale could be the best sales method if getting the highest cash price is the most important factor for you.
An ideal partner to help you turn your diamonds into cash will provide exceptional customer service and various value-added amenities. Seek out companies that offer expert guidance and support and provide useful services such as: sorting, boiling, certification and other services to minimize the hassle and have everything handled in one place.
Ensure consistent cashflow
As time goes by, the diamonds in your store keep piling up, so it’s important to find a solution that provides long-term and consistent opportunities to sell. More established diamond sellers have access to a large number of buyers globally and provide regular sales opportunities, so there are always customers on-tap to buy your goods.
Leaving your comfort zone and exploring new ways to sell your diamonds need not be daunting. Experimenting with well-established sellers and auction houses like Rapaport Auctions allows you to leverage their expertise, credibility and large network to ensure you get more for the diamonds – with minimal risk.
Rapaport Auctions treats your diamonds as if they are their own and will work their hardest to get the highest prices for you. In-house experts offer guidance and support and provide personalized services to minimize the hassle and serve as your one-stop-shop for all of your diamond selling needs. Click here to find out more.