What To Do With Your Loose Diamonds

Whether you’re a gem collector, investor, or have found yourself the recipient of a gift or inheritance, if you own one or more loose diamonds, you might be wondering what you can do with them. The answer really depends on your own personal preference, and what you plan to do with your precious jewel ownership in the future. Some people buy gems for their own personal use, while others see them as investments that can make them a profit in the future, or include as valuable items in their estate.

Create a beautiful, custom piece of jewelry

One of the first things that comes to mind when thinking of these popular yet valuable gems is the classic engagement ring. If you end up with a jewel that’s a family heirloom, or have found a deal on a loose gem, you can have it set into a custom, one-of-a-kind engagement ring to present to your loved one, save for a child or grandchild, or sell.

If an engagement ring isn’t what you’re thinking of, there are plenty of other pieces of jewelry that beautifully showcase this brilliant gemstone. A custom pendant would look stunning, or if you have more than one jewel, they would make lovely earrings. No matter what kind of jewelry you plan to create, a professional jeweler will be able to help you craft the perfect piece to suit your personal style.

Sell for a profit

Especially if you bought them at a great deal, you can turn a nice profit on your precious gems. Online shops, auctions, and classified ads are good places to advertise. If you’d rather deal with a person up front, you can speak with any number of local jewelers to see what kind of price they’d be willing to pay. Even friends or relatives could be potential buyers. If they’re in the market for a gemstone or jewelry, it’s likely they’d want to deal with someone they know and trust first.

Save the gem

Many people prefer to add variety to their assets with property, stocks, precious metals such as gold and platinum, coins, and gems. You’ll want to have your collection appraised for its value, to decide whether you want to hang onto it long term or sell in the near future. Since precious gems usually appreciate in value, it’s a smart choice to save them for a long period of time, to either make a good profit when you finally decide to sell, or to give your descendants an inheritance of great value. It’s likely that your children or grandchildren would treasure such a beautiful gift, especially if they know it to be a family heirloom.

It’s always a good idea to keep your gems and other assets in a secure place, such as a fireproof safe or whenever possible, a safe deposit box at the bank. Gemstones are a popular target for thieves, and it’s likely that if your home is broken into, they’ll be able to find your precious collection even if you think you’ve hidden it well. Be sure to protect your investments by keeping them in a secure location when not in use.

Diamonds are a popular choice for investing or creating unique jewelry for many reasons. Be sure to weigh your choices carefully and consider what they will mean to you on a long term basis before you decide to sell or save them.