Selling diamond jewelry can be a complex and frustrating process, especially for the inexperienced seller. While gold has a clearly defined and quantifiable value, pricing diamonds is a much more intricate and subjective process that requires a trained eye.
Thankfully, the Gold Guys offers an online diamond auction service to help ensure you get the best price for your diamonds with minimal effort or stress on your part.
Here’s a breakdown of how an online diamond auction works and the key benefits of the service.
How an online diamond auction works
The process of putting your jewelry through an online diamond auction is quick and easy, with the majority of the legwork being handled by an assayer.
Here’s a step-by-step rundown of the process.
- Bring your diamond to the Gold Guys.
- We grade the diamond and enter it into our online auction platform.
- We will then help you complete the diamond auction submission form.
- Once the details are entered, you’ll leave your diamond with us so we can officially place it in the worldwide auction. There are typically two auctions a month which begin on Monday at 1 p.m. Central and end on Wednesday at 1 p.m. Central.
- Once the auction begins, you’ll be able to follow the bidding process online as offers flow in from across the globe.
- After the auction closes, you’ll have 24 hours to log into the auction platform to either accept or decline the highest bid.
- If the highest bid is accepted, you can either pick up your check from us 24 hours later or request that it be mailed to you.
- If the highest bid is not accepted within 24 hours, the offer automatically expires and the diamond is returned to you at no charge.
- We will personally give you a call to go over the details of the auction.
Advantages of an online diamond auction
Given the many varying aspects of a diamond sale, doing so via online auction has many significant advantages compared to alternative options.
With a local, in-person auction, the exposure of the diamond is limited exclusively to those who are in the room. With an online auction, the diamond is made visible to diamond buyers from around the world, resulting in a higher offer for your diamond.
Increased bid value
- The fact that bids during an online diamond auction come exclusively from professional diamond buyers is a huge differentiator. It is unlikely that a local buyer will be able to outperform the auction.
- Some diamonds sell for a premium depending on if there is a shortage in the market.
- An online auction allows for increased exposure.
- These diamond buyers are competing for your diamond!
Thanks to the convenience of the online auction platform, you’re able to effortlessly track incoming bids as you watch the value of your diamonds climb.
Selling a diamond on your own is a challenging task. Our process removes a lot of self-doubt and potential for error from the equation, as we take care of all the heavy lifting.
It’s also important to note that your jewelry is fully insured during this entire process. This value will be determined by our staff during the submission phase and is specified on your auction form.
It’s not final until you say it’s final
If the auction comes to a close and you choose to not accept the offer, the diamond will be returned to you at no charge.
The only time that you would incur any expense is if you would like to have your diamond reset back into its original setting.
Get more for your diamonds via online auction with Gold Guys
In addition to offering our streamlined online diamond auction service, the Gold Guys continue to guarantee to pay the most for your gold and other precious metals. In the off chance that you do receive a higher offer, we will beat it – every time.
Contact us today to learn more about how to make the most for your diamonds and precious metals.