Selling diamond jewellery is a great way to make some extra money, but when you’re selling something of this high a value it’s important to take certain measures to ensure the transaction is legitimate. Parting with something worth so much money is often something that takes a lot of thought, and you want to be sure that you will get the best price for your product without being exploited. So here’s a few things you should consider before you sell diamond jewellery in South Africa, and how to pick the right buyer:

1. Watch out for fraud

Unfortunately, there are a number of supposed diamond brokers who are working fraudulently. Every year people are drawn to the seemingly high offer they are receiving for their diamond product, and jump in to accept the offer without checking the purchaser’s details. One warning sign to look out for is people offering you quotes or prices over the phone or online without seeing the jewellery in person. Although much can be gained from just a photo, professional brokers will not be able to give an accurate estimate without seeing the diamond in their hand. Sadly, many people who succumb to these greedy tactics are blinded by the high price, hand over their diamond and never see the funds. Be careful.

2. Ensure you’re dealing with a professional

Before selling your precious diamond, it’s important to do research on legitimate sellers and traders. This will help you avoid becoming a victim of fraud, but also ensure you find someone trustworthy. Make sure that the buyers you find are knowledgeable about diamond products. You can do this by asking some simple questions about clarity and cuts. If you are researching on websites, look for their use of standard English and how professional their website looks. If it is filled with adverts with several typing errors, you should begin to doubt their professionalism and look elsewhere.

3. Don’t be fooled by marketing

With a dramatic rise in people wanting to sell jewellery over the internet thanks to ‘cash for gold’ adverts popping up everywhere, regrettably, some companies have started exploiting potential sellers. A key piece of advice would be to avoid being fooled by adverts. This type of marketing is costly, and many reputable, small companies in the country would rather spend their time and money on customer service than expensive advertising campaigns. Bear this in mind when choosing a broker, and don’t be blinded by flashy adverts that may just be too good to be true.

4. Value transparency

When first meeting with your purchaser, ensure you trust them thoroughly. Remember that you’re parting with a valuable item, and you need to make sure that you have faith that they will offer you the best price for your diamond. Consider getting quotes from a number of brokers, but don’t be drawn in by the one with the highest cost. Simply use this process to ensure buyers are all offering roughly the same price. Anything significantly higher or lower should ring alarm bells. Remember that often your instincts are spot on, if something doesn’t feel right then it probably isn’t.