If you have an engagement ring with a GIA-certified diamond, you can sell it online today. Professional diamond buyers like Gemesti value GIA certification. They are ready to pay top market prices for your GIA engagement ring. Read on to learn more about GIA certification, and why it is an advantage when you decide to sell your engagement ring.
We’ll also take a look at the other options for selling a used engagement ring or wedding band (or any loose diamond). Plenty of buyers are keen to snap up GIA-certified diamonds, but only a very few will pay high cash prices. The global diamond market is expected to be strong in 2022. Market experts are predicting increased consumer demand after the COVID pandemics of 2020 and 2021. It could be a good time to sell your unwanted diamond jewelry!
What is a GIA certified ring?
One of the most common questions we are asked is what is a GIA-certified ring? The strictly accurate answer is that there is no such thing as a GIA-certified ring. The GIA can certify loose diamonds, which jewelers then buy and set in rings, necklaces, pendants, and other items of diamond jewelry.
If you receive a GIA certificate with your diamond engagement ring or wedding ring, the certificate pertains to the diamond(s), not to the ring. As the saying goes, diamonds are forever. The 18kt gold or platinum settings can be melted down for bullion, or recrafted into new pieces of jewelry. It’s probably easier to explain exactly what the GIA is, and how they create their certificates, before we look at why sellers like to advertise a used engagement ring as a ‘GIA certified ring’.
What is the GIA?
The GIA is the Gemological Institute of America based in Carlsbad, California. It was established in 1931 to protect people who buy and sell jewelry in the US. It grew into an internationally respected organization and a global authority on diamonds and gemstones. The GIA continues today as a non-profit institution that trains jewelers and gemologists, carries out scientific research and laboratory services.
The GIA offers precise grading for diamonds that is understood and respected by jewelers and diamond dealers across the world. The GIA International Diamond Grading System is based around the 4Cs.
- Carat Weight
The grading gives jewelers a clear starting point when they appraise a diamond and consider its market value. When you sell a diamond ring with a GIA certificate, you’re automatically in a stronger negotiating position. You can also do your own research and estimate the resale value of the ring.
Is a GIA diamond Real?
If a diamond has an authentic GIA certificate, it is a real diamond. It’s theoretically possible for crooked jewelers to work complex scams and issue false certificates. They could also pair real certificates with lower-quality diamonds. The reality is that a jeweler who pulled that kind of scam wouldn’t survive in the business. Legal consequences aside, the diamond industry is still a tight-knit world built on personal reputations and trust.
If you have a GIA diamond, you have a good quality diamond that was professionally appraised by a GIA accredited gemologist. The certificate is registered on a database and there will be no doubts about how your diamond compares to other diamonds in terms of carat weight, cut, color and clarity. The gradings are precise and are a quick key to estimating the current market value of your diamond ring.
GIA diamond laser engraving
GIA diamonds often have their certificate number laser engraved on the diamond girdle. The certificate number is micro-etched into the actual diamond as an additional security precaution. This won’t affect the quality of the diamond for two reasons. Firstly, diamond laser engraving can’t be seen by the naked eye. The GIA certificate number can usually only be seen under x10 magnification. The second advantage is that the diamond girdle (the narrow circumference of the diamond between its upper crown and lower pavilion) is hidden in the ring setting.
How much does it cost to become GIA certified?
A GIA accredited gemologist may charge as little as $50 for a basic diamond report that will become GIA certified. Some jewelers may even offer free appraisals. If you want your diamond to become GIA certified, we recommend contacting the GIA directly. This is particularly worthwhile if you have a diamond that is more than 1 carat in weight, or any diamond that you paid more than $1,000 for.
The GIA can recommend an approved gemologist who can prepare a full report on your diamond. You can also request the GIA’s own laboratory services for full certification and laser engraving. GIA report prices are calculated according to the carat weight of your diamond. A typical 1 -1.5 carat diamond can be fully GIA certified for $105. Laser engraving will cost you another $15 for a standard inscription. Even if you’re lucky enough to own a massive 8-carat diamond, it will only cost you $500 to become GIA certified. That said, if you spent millions of dollars on an 8-carat diamond that isn’t already GIA certified, you may have a problem…
Can I sell my GIA diamond?
You can sell a GIA diamond online today. Professional diamond buyers love sellers who have a GIA diamond. An authentic GIA certificate will speed up the appraisal process and make it a lot easier for the buyer to make an accurate initial offer. You can snap a photo of your GIA certificate with your phone, or even just quote the certificate number.
A GIA grading is essentially a stamp of quality in the diamond industry. Obviously, when you sell your GIA diamond, the cash price will depend on the 4Cs and other minor gradings. The advantage of selling a GIA diamond is that the process is usually faster. You can also stand your ground if a buyer tries to make a low offer. If you can quote the 4Cs, and have some understanding of the current market, you can sell your GIA diamond with confidence.
Do GIA diamonds lose value?
Unfortunately, almost all used diamonds lose value – that includes GIA diamonds. There are three main reasons why even GIA diamonds lose some of their value.
- The original retail price includes state taxes
- The store owner makes a fair profit on the sale
- A used diamond may require a professional clean,
refurbishment, or a new setting.
A good quality GIA will usually retain more of its original value. You can sell a second-hand GIA diamond or diamond ring for a better price than a non- GIA diamond. It will usually also take less time to sell a GIA diamond. Reliable professional diamond buyers will be keen to do business with you. You won’t need to hawk your diamond ring around the local pawn stores or mall jewelers.
Where can I sell my GIA diamond near me?
Type “sell my GIA diamond near me” into Google and you’ll get a list of local pawn stores, money lenders, and low-budget jewelers. Many of them will only be a short drive away. You can easily sell your GIA diamond to any jewelry store or pawn store near you (your home or work). The problem is that you won’t get a high price. Jewelers will pay less than the market price, pawnbrokers will try to pay a fraction of the fair market price.
If you’re in a small town, you’ll get a similar cash offer wherever you go. Even if you’re in a big city with a diamond district or jewelry quarter, you’ll face a similar buyers market. Every pawn store and jewelry store manager know to the nearest dollar what his competitors will pay for any item of used jewelry. When you sell a GIA diamond for cash, ‘near me’ is never a good criterion for choosing a buyer.
How do I sell my GIA diamond for a high price?
Go straight to www.gemesti.com to sell a GIA diamond for a high price. If you have a good quality GIA-certified diamond, you can sell it safely online and get paid cash within 48 hours. There’s a simple online form on the Gemesti home page. You can upload a digital photo or scan of your GIA certificate and a customer services manager will call you back. You’ll get an initial cash price for your diamond ring (or other diamond jewelry) based on the 4Cs grading and other information on the GIA certificate.
If you like the initial offer, you can send the ring for an independent appraisal, with no obligation to sell. Gemesti will arrange free overnight FedEx shipping to the EGL US laboratory. The shipment is automatically insured up to $100,000. The ring is still your property and you can request its return at any time (free of charge).
The independent gemologist will check your diamond ring and the GIA certification. She’ll email a full report to Gemesti that day. Your client services manager will call you back with a formal offer. If you like the price, you can upload a signed sales agreement. Your cash payment will be wired to your bank account.