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Ready to Sell Your Diamonds? How to Choose the Right Buyer

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If you're in the market to pawn diamond rings and you're looking for the best way to accomplish the task, there are several avenues you can pursue. Selling your diamonds doesn't need to be a stressful process, especially if you take the time to identify the right seller. That's where it becomes crucial that you do your homework. Here are four tips that will help you choose the right Buyer for your diamonds.

Sell to a Diamond Broker

When it comes to selling your diamonds, you want to make sure you choose a credible buyer. The best way to do that is to work with a diamond broker. Working with a diamond broker ensures that you're working with someone who knows every detail of the diamond industry. Not only that, but they'll offer you a fair price for your diamonds, which means you won't be losing money on the transaction.

Sell on Consignment

If you're not in a hurry to sell your diamonds, and you want to be able to set your own price, you'll want to consider a consignment sell. Selling your diamonds on consignment will ensure that your diamonds don't sell until there's a buyer who's willing to accept your price. This is a good way to go when you have time to wait for the right buyer.

Sell to Private Party

If you're in a hurry to sell your diamonds, but you still want to set your own price, it's time to look to a private party transaction. Advertising your diamonds on a social media site, or online advertising site, will allow you to attract private party buyers who are willing to pay your asking price and who have cash for the transaction. A word of caution when selling diamonds in this manner though. Always ensure that you choose a safe location to conduct the transaction, such as the parking lot of your local police department. That way, you can avoid becoming the victim of a crime during the transaction.

Sell to a Pawn Shop

If you're in a hurry to sell your diamonds, and you're not concerned about setting your own price, you need to visit your local pawn shop. Most pawn shops will buy diamonds on the spot, which means you won't need to wait for the cash. Not only that, but if you want to get your diamonds back, you can take out a loan through the pawn shop instead of selling them outright. When you have the money, you can go back into the pawn shop and pay off the loan. When you do that, the diamonds will be yours again.