Certified diamond seller for private buyers

Couples buying engagement rings, people marking anniversaries, and buyers who want a better price than the high street.

You earn the margin between your wholesale price and the price you charge, or a fee for sourcing a stone. Setting commissions with a jeweller can add income.

• Knowing diamond grading and certificates
• Honest, patient advice for big purchases
• Building trust online and in person

• Anti-money laundering rules: check whether you must register with HMRC as a high value dealer if you accept large cash payments
• Online sales usually carry a right to cancel, so check the Consumer Contracts Regulations before you set your returns policy
• Disclose clearly whether a stone is natural, lab-grown or treated, and check current sanctions and sourcing rules for rough and polished diamonds
• Stock insurance and safe storage, because standard home insurance often will not cover business stock
• Check your landlord's or lender's permission before you meet customers at home, and consider meeting in a safe public venue instead

Estimates suggest startup costs are typically around £3,000 to £15,000, depending on the stock you hold and how you set up your website and appointments. Your own sourcing arrangements will affect the figure.

Estimates suggest monthly revenue is typically around £2,000 to £10,000, depending on how many stones you sell and their value. The estimates start from around 10 hours a week, though results will vary from month to month.

Check whether you must register with HMRC as a high value dealer if you accept large cash payments, and the Consumer Contracts Regulations for returns. Check disclosure of natural, lab-grown or treated stones, sanctions and sourcing rules, and stock insurance.