Where can I buy and sell diamonds in Sydney?

So you’re either looking for diamonds – perhaps as an investment, perhaps as part of a piece of jewellery – or you’re hoping to sell some of the precious gems. How do you go about buying and selling diamonds in Sydney? Are there places at which you can do both?

Let’s take a look at the options.

Buying diamonds in Sydney

Purchasing diamonds can be a tricky prospect. It takes a trained eye to tell the difference between a true diamond and a low-price knock-off (cubic zirconia for example), so you need to be careful that you purchase your gems from somewhere trustworthy.

A jeweller who is a member of an industry organisation will be held to a higher standard than a jeweller, or indeed a pawnbroker, who isn’t. If you’re buying a diamond look for accreditation from the likes of DGA (Diamond Guild Australia) or JAA (jewellers Association of Australia) as you can be confident that the best jewellers in Sydney will only sell accredited diamonds.

Selling diamonds in Sydney

Selling diamonds is perhaps an even trickier prospect. You’re not a jeweller, so you can’t be confident about exactly how much your stone is worth. Buyers will also be constantly trying to talk you down in price, and there’s a real danger of not getting full value for the stone.

Use a qualified appraiser to get a sense of what the diamond’s market value is. Get the valuation written down to show any potential buyers that it has been professionally valued. Then use that figure to put it to market. You could try selling it online, or taking it into a jeweller or pawnbroker. The route you take will likely be steered by the urgency of the sale.