Pawn shops do not buy your diamonds, nor do they sell them for you, like we do. Instead, they provide collateral-based loans in exchange for your jewelry. “Collateral-based loans” means you give the pawnbroker an item of value—your diamond or diamonds—and they give you a cash loan. Then, they hold on to your item of value and give you time to return the loan in cash with interest and fees. The typical loan term is one to four months. If you do not pay back the loan, they keep your item to sell. Because you’ve provided collateral, their loans do not harm your credit. Many people visit pawn shops with their diamonds after a painful or expensive divorce, and are ready to get rid of a ring or get cash quickly to cover new expenses. The emotions involved in making this transaction might cloud your judgment and allow you to convince yourself to make a snap decision – one that could result in a loss of substantial cash. Some pawn shops will buy items of value outright, but an outright purchase offers less profit potential for the pawnbroker when they try to sell it off later. This means that they can not offer you a good price and still make any money for themselves. They always will try to give you the lowest amount possible. If you do not care in the least about getting what your diamond jewelry is really worth, and just want it immediately off your hands, then a pawn shop may be fine for you. Obviously most people want to get the most cash they can for their diamond jewelry; that’s where Diamond Lighthouse comes in. We help showcase your diamonds to a network of professional diamond buyers who are specifically seeking diamonds and are willing to pay what they actually are worth. We don’t buy diamonds – we facilitate the sale of your diamond jewelry for you. The end result is that you end up getting paid the correct and fair amount for your diamonds. Find out more here.
Our Process – Diamond Lighthouse does not buy diamonds.
So, what do we do, exactly? If you are looking to sell your diamond, you need an industry professional to assist you with the sale. This is where Diamond Lighthouse comes in. We present your diamond to an elite group of trusted diamond buyers that you would not have access to otherwise. Unlike a pawn shop or jeweler, these buyers are actively seeking high end diamonds, and can pay the true market price for them. The buyers now place bids on your diamond; we report the offer amounts back to you. As you are in total control of your diamond during the entire process, you are able to accept an offer, reject an offer, or ask to have your diamond returned to you. All decisions are up to you. Diamond Lighthouse will guide you throughout, but ultimately we want your diamond to sell for the highest amount possible because we make a commission off the sale (10%: diamonds one carat and higher). In fact, this is the only payment that we receive; all shipping is free, there is no registration fee or any hidden costs at all.