Let’s begin with the bad news. First of all, you won’t actually get what you paid. Unless, you have purchased the diamond long, long ago, to get the original price or even with an extra markup depending on the current market conditions.
Most importantly, the price of diamonds is not determined by its weight like other jewelry. For example, the price of Gold is directly proportional to it’s weight. However, the price of diamond is completely dependent on its beauty.
Many times, you won’t even get half of what you paid. The reason is because; there are a lot of pricing factors to the diamond you buy. To be more precise, the profit margins on jewels are high. It’s not the merchants who should be blamed but the customers who are willing to pay a hefty price for shiny stone and metals. As the demand increases, so does the price too.
One more hard fact is the tax and additional surcharges you pay for buying the jewels. Later when you decided to sell them back, the tax and additional price you paid is completely ignored in the price evaluation.
Additional surcharges also include the duty and other customs charges if you import the jewels which are really high when compared to any other goods imported.
Next comes the usage. Most second-hand jewelry will have been worn, subjecting it to wear, tear, and possible damage. This will reduce its value further.
Fashion factors should also be considered which keeps changing constantly. If a particular designer jewel is highly fashionable today, it’s price tag is definitely going to be hefty. Tomorrow when something new comes out, the price may drop drastically.
And lastly, some people avoid buying a second-hand diamond ring or other piece of jewelry for various personal and sentimental reasons.
Almost every merchant explains that diamonds have a good value so they could make you buy without doubts. After reading all of the above, you will not be surprised to hear that diamonds have a very less resale value. You will know this only when you actually sell your diamond.
But no one wishes to sell their diamond at any point of time. Due to the hefty price and it’s preciousness, the stone is always tied to a sweet memory and that is the main reason not to sell at any cost. Keeping this in mind, never worry about the resale value and let that not be an hindrance while you buy a diamond ring or any diamond jewelry.
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