How to Liquidate Colored Diamonds
Colored diamonds are among Earth’s rarest gemstones and specimens in general. Supply is low, as a result of its rarity, and the demand is currently quite high. In addition to the many other advantages, basic rules of economics state that something in this state can make for a sound investment. However, one of the most pressing questions people tend to have when it comes to diamond investments is, when and how can the item be liquidated?
Though this is by far a fair and necessary question to ask, there are a number of factors to keep in mind. For one, colored diamonds may appreciate quite nicely, but it takes time and it takes patience. Secondly, though the profits may be rewarding once a buyer is found, there is a process involved before this can happen. Here is some brief insight regarding colored diamond liquidation.
Acknowledging Your Clientele
Every product on the planet has its own pool of clients. Some products may attract a more global pool whereas some can be extremely pinpointed. Once you are ready to liquidate your colored diamond piece, you must come to terms with the fact that as beautiful, valuable, and rare as your asset may be, it is not a car, for example, which most people are in constant need and in search of. It can be more challenging to find the appropriate channels for advertising your stone and liquidating it in the most efficient manner. Like a piece of fine art, you need to identify the right target audience.
Leave It to the Pros
Though one can absolutely go about selling his or her stone individually, not everyone has the time or marketing skills that it entails. That is why turning to a reputable company that is experienced in selling these products is feasible. Another option is turning towards the public auction houses. The largest public auction houses that are around today are Sotheby’s and Christie’s. These houses are highly recognized for their skills in selling these goods.
Utilize Your Time Wisely
It is important to acknowledge that these investments are considered long-term tangible assets. Thankfully, we live in a time where we have many resources available at our fingertips. From eBay, to blog posts, and various social media platforms, one can utilize their time and identify a target audience which can be used for the purpose of colored diamond liquidation.
Watch the Market
While either attempting to liquidate a color diamond on your own, using the many lists available online, or choosing to approach the auction houses, you need to be aware of what is happening in the market. Diamond prices are on a constant rise and you don’t want to offer too low. Having that said, if the asking price is completely unreasonable, you will lose attention rather quickly.
Alternative Auction Houses
Bonhams auction house has been making more and more headlines with its record-breaking sales. Especially as a smaller name in comparison to Sotheby’s or Christie’s, such sales give hope to anyone looking to liquidate their asset. This was the case with several items recently sold at Bonhams. One such item was the fancy colored diamond ring featuring a 16.03-carat fancy deep yellow square diamond, which sold for a steep price of $290,500. Another example is a diamond and sapphire bracelet, which was sold for triple the estimate of $92,500. The auction house also recently sold a rough 25-carat blue diamond for over $16.9 million!
Granted, not every colored diamond that is ready to be liquidated will sell for these prices mentioned above. Although, with the right time and place, and through the most suitable platforms, this sale as well as the others mentioned earlier are proof of the amazing potential these stones hold.