Diamond & Jewelry News, Advice and Prices for Consumers
Diamond & Jewelry News, Advice and Prices for Consumers
July 10, 2010
I would like to sell my diamond ring and I heard it's advised to sell it for a cost of dump value. What does this actually mean?
July 17, 2010
Dump value is a term used in the diamond industry to describe the lowest price one should sell his diamond jewelry for. This value is calculated with the help of the Rapaport value of your diamond ring, which could be requested at any appraisal office. The Rapaport value is in fact the wholesale value of your diamond jewelry (not to be confused with retail prices), and the dump value is actually the range of 60 to 80 percent of that Rapaport value. If you were to sell your diamond ring to a jeweler, you will often be offered a figure of dump value for your jewelry. Although this might seem unfair, you shouldn't expect to gain the full Rapaport value of your diamond ring, let alone the original retail price you paid for it. I completely support the advice you have heard already and recommend you settle for dump price when you sell your diamond ring.
