If you are planning to trade your diamond for a better stone or for some other jewelry, you have to make sure that you get the maximum value. There are certain factors that you should be aware of when trading your diamond. Whether it be a small one carat diamond or a large 5 carat diamond, you should be certain to ensure that you get the right value for your stone. Following are some factors you have to notice when you plan to trade your diamond:
Read the Exchange Policy for Your Diamond
Before you trade a diamond, read all the documents that came with the stone when you purchased it. Give importance to the store’s exchange policy. Sometimes there will be an option for you to trade or exchange the stone for another within a certain period of time after the sale. Once this period has expired, you might not be able to exchange your stone, or will have to trade it for a reduced value.
Choosing a Store to Trade in Your Stone
If you are planning to trade in your diamond at a different store other than where you bought it, you need to be real careful while selecting the store. Some stores might not offer exchanging of stones, while some others will be more receptive to such deals. Sometimes, it is better to choose a small store which is run by independent jewelers, as they may be more willing and flexible to negotiate on price and offers and other terms associated with the deal.
Big jewelry stores that are a part of larger chains often have more strict and rigid policies regarding the exchange, and the employees don’t have much freedom to negotiate.
Have the Diamond Appraised
If you do not have any idea about the real value of your stone, then it is better to have it appraised by a professional. It is important for you to understand how much your diamond is worth to get the maximum value for your diamond when trading it.
The Price You will be Getting for the Diamond
When you exchange your diamond, it is not possible to get a value that is equal or even close to the original value of the stone. In fact, the price you will get when you trade in or exchange your diamond will be around 50% or less than the amount you bought it for.