These are the questions people ask most before selling a diamond in New York City, including the ones Google shows when people search for diamond buyers. Every answer sticks to published rules and plain reasoning. None of them is a price: only a buyer who has seen the diamond can make an offer, and prices for gold and diamonds move.
About this site
Diamond Buyers NYC is an independent referral service, not a buyer, pawnshop or dealer. When you call or send the form, your details go to an independent buyer in New York, who makes any offer. Asking is free and you never have to sell. More is on the about page.
Offers and value
An offer on a diamond starts from the four Cs and from whether the stone is natural or laboratory-grown; an offer on its setting starts from the metal’s weight and purity. The guides to diamond resale value and how much a diamond sells for go further.
Selling in New York City
The city’s rules for buyers of used jewelry and precious metal are set out on the page on how to sell diamonds in NYC, and the Diamond District NYC guide covers West 47th Street.
Still have a question? Call the line, and an independent New York buyer comes back to you.
Questions people ask
Is Diamond Buyers NYC a diamond buyer?
No. Diamond Buyers NYC is an independent referral service, not a buyer, pawnshop or dealer. When you call or send the form, your details go to an independent buyer in New York, who makes any offer.
Does it cost anything to ask?
No. Calling and sending the form are free, and you are never obliged to sell.
Which buyer will contact me?
An independent diamond buyer in New York. Any offer, and any sale, is between you and that buyer.
How much will I get if I sell my diamond?
No one can say without seeing it. An offer depends on the four Cs, whether the stone is natural or laboratory-grown, whether it has a report, and for a ring the weight and purity of the metal. Ask for offers in writing and compare them.
How much is a 1 carat diamond worth to sell?
There is no single figure. Two one-carat diamonds can differ widely in color, clarity and cut, and a lab-grown stone is a different product from a natural one. A carat is a weight, 200 milligrams, not a price.
Who pays the most for diamonds?
No kind of buyer pays the most for every stone. The buyer with a use for your particular diamond usually offers most, and the way to find that buyer is to ask several and compare written offers.
How much does a diamond resell for compared with what I paid?
Less. A retail price includes the store’s costs and margin, and a buyer pays what the piece is worth to them to resell, reset or melt, so an offer is lower than what was paid in a store.
What are the 4 Cs of diamonds?
Clarity, color, cut and carat weight: the four factors in the grading system GIA developed in the 1950s, which diamond professionals use to describe stones.
How do I check my GIA report?
GIA offers a Report Check on its website where a report number can be looked up. See checking a GIA report before you sell.
Can I sell a diamond with no report?
Yes. Older stones and the small diamonds in jewelry often have none. The buyer grades the stone without it.
Is a lab-grown diamond a real diamond?
It is a diamond, but not a mined one. Under the FTC’s jewelry guides it must be described clearly as laboratory-grown, laboratory-created or similar. Tell a buyer which you have.
Is the gold setting valued separately?
Yes. The diamonds are judged on the four Cs and the metal on its weight and purity. In New York City any buyer of precious metal must tell you its troy weight.
What does 14K mean?
14 karat: 14 parts gold in 24, or 58.3% gold. Pure gold is 24 karat. See how to sell gold in NYC.
Is it better to pawn or sell diamonds?
They are different things. A pawn is a loan against the piece; in New York City it needs a separate DCWP pawnbroker licence. A sale is final. Sell only if you do not want the diamond back.
Do I need ID to sell a diamond in New York City?
Yes. A licensed buyer must see official identification with a signature, record its type and number, and have you sign in front of the dealer. A copy is not enough. Buyers cannot buy from minors.
How do I know a New York buyer is licensed?
A business that buys used jewelry must post its DCWP Secondhand Dealer General licence and DCWP’s complaint sign where you can see them, and print its licence number on receipts. Ask to see the licence.
Why does the buyer keep my details?
New York City requires it. The buyer records each item and the seller’s name, address and description, keeps the record for three years, and for precious metal keeps photographs for six years. DCWP and the NYPD can inspect the records.
Where is the Diamond District?
On West 47th Street between Fifth and Sixth Avenues in Midtown Manhattan. Hours vary by business, so check before you go.
Do I pay taxes when I sell a diamond?
Possibly, if you sell for more than you paid. The IRS says net capital gains from selling collectibles, such as coins or art, are taxed at a maximum 28% rate. Ask a tax professional about your sale.
Who owns an engagement ring after a broken engagement?
New York has a law, Civil Rights Law section 80-b, that lets a person go to court to recover property or money that was handed over solely in view of a planned marriage that did not take place. If ownership of a ring is in question, ask a lawyer before selling.
Should I get an appraisal before selling?
Sometimes. An appraisal states a value for a purpose and is not an offer. See diamond appraisal in NYC.
Can I sell a loose diamond?
Yes. Bring the stone in a closed box with its report if it has one. See how to sell loose diamonds.
Call the line
One number, answered in New York.