Selling and buying discount diamonds helps local investors hedge against the possibility of inflation. Discount diamond investors tend to purchase precious metals and gems such as gold and diamonds in uncertain economic times. Discount diamonds appreciated in value during the recent decade, a result of the fluctuating economic commodities and financial markets. A divergence in price appreciation reflects discount diamonds' higher value. Purchasing a tangible asset or selling to an open discount diamond market serves as an investment for later return on a stored and insured investment.

You can make extra retirement money use your extra income to supplement your current income by selling your unwanted old diamond jewelry. Selling to dealers and wholesalers of discount diamonds can bring in a significant amount of extra cash. Jewelry importers and wholesalers are trained experts and gemologists who study and evaluate hundreds of diamonds for their cut, clarity and color. Top dollar is paid by diamond dealers according to your diamond jewelry's quality and characteristics. 

The market cash price for diamonds can be found in published trade journals and in your local newspapers. These prices can help you make cost-effective buying and selling decisions about your own diamond jewelry. Diamonds can also be certified by an independent lab for their weight, measurements, color, clarity and proportions. Labs recognized by a gemological institute give you international standard reports about the diamonds you are selling or buying. A wholesaler who is interested in your gems can use this standardized report to offer you a price range and a first-hand inspection. Diamonds that are at least one carat tend to bring in the fastest and best purchase offers.

Knowing where you purchased your diamond originally can help assure the authenticity and value of your gem. Diamonds that have been purchased from a reputable wholesale house or well-known jeweler are accepted for resale, for example. You can investigate the companies that invest in precious metals and gems, and they can be contacted directly. You will need to send your discount diamond jewelry for sale as a package to the diamond wholesaler to review, along with your documentation for your jewelry. The more detailed information that you have for your diamonds, the easier it will be to sell and receive top dollar for them. Your wholesaler will review your gems and send you a check for your sale.