When you attempt to sell a diamond in Nashville or other regions in good condition, any industry insider, such as a diamond dealer, is likely to make an initial offer of 60% of the diamond’s “Rap value,” that is, the value according to the Rapaport Diamond Report. So before you approach an industry insider, you should get a copy of the most recent Rapaport Diamond Report and know your particular diamond’s value. The report is updated each week and covers diamonds of varying colors, shapes, grades, and sizes up to six carats. For more information on Diamond colors, shapes, grades, and size see our Guide to selling your Diamonds.
Often the dealer’s offer is far less than the diamond’s appraised value. This is because the appraiser provided the diamond’s retail value, which will always be more than Rapaport value. If your diamond’s retail value is $10,000, the appraiser is likely to appraise it at $10,000. If you ask nicely, and perhaps pay a small fee, the appraiser can also provide you the Rapaport value of the ring. It may be $4,000. It may be $5,000. You simply won’t know unless you see a relatively current Rapaport sheet listing the qualities of your particular diamond.
Hypothetically, let’s say your diamond that was appraised at $10,000 has a Rapaport value of $5,000. That means the wholesale price of the diamond would be $5,000. The average dealer would offer you 60% of the $5,000, so you should expect the dealer’s initial offer to be $3,000. As you can see, it simply doesn’t matter to the dealer that your ring has been appraised at $10,000. To the dealer, there is no reason to expect the diamond to sell for more than the Rapaport value.
However, there are plenty of reasons a diamond could sell for less than the Rapaport price. A diamond could be chipped, have scratches, or otherwise show damage. These things happen. And we know it. This is why OUR expert knowledge is useful.
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