Other people turn to diamonds as a great future investment, or they inherited a piece of jewelry from their ancestors that they want to sell. What is the best way to sell jewelry with diamonds? How do you sell a high-quality diamond? Now is a good time to sell your jewelry with diamonds because rather than buying from wholesalers there is an increasing number of sticker-shocked jewelers from the public. Here are some tips for selling your diamond jewelry.
What is the best way to sell jewelry with diamonds?
- Investigate your selling options
- Sell to the jewelry industry
When you choose to sell your diamonds through the jewelry industry, the biggest advantage that you would get is time. The most important thing is to choose someone you could trust and you should target a jeweler, diamond dealer, or pawnbroker if you want to sell quickly and safely with little fuss over marketing.
You could check their Better Business Bureau rating or seek out American Gem Society members since they are the ones that usually have dedicated ethical business practices.
One downside of choosing to sell this way is that you are unlikely to get top dollar. They have no reason to pay anywhere near the retail value since they intend to make a profit from your stone.
- Sell to the public
Generally speaking, members of the public would be willing to pay more for diamonds than industry insiders because they are looking to save on retail but they can’t usually access wholesale prices. The hard part of selling to the public is finding the right buyer.
If you will have the hassle of filtering out the weirdos and the cons, then you could look at online classifieds like Craigslist.
Where can I sell my diamond ring for the most money? You have to keep in mind that choosing a buyer is not always about getting the top price, especially if you are selling an old piece of diamond jewelry, it is often a function of how quickly you would be able to settle a deal, how much you trust the buyer, and your stomach for negotiation and marketing.
- Be emotionally ready to sell
Selling your diamond jewelry can be harder to part with than any other piece of jewelry because diamonds are often symbols of passion and love. Despite all of these, you have to leave emotions out of selling because though the sentimental value may raise the price of the diamond in your eyes, a potential buyer won’t be so moved.
You have to make sure that you are ready because selling before you are ready could bring long-lasting regrets. You could recognize that while it was a part of your life at one point in time and it most likely represented someone or something that is incredibly important to you, you have to move on at one point and this could be a way for you to do that. Your peace of mind is more important.
- Know what you have got
Is it worth it to sell my diamond? Before rushing to the market, you need to get an accurate picture of the quality and authenticity of diamond jewelry as proof, and not just because Grandma said her old diamond ring was valuable does not make it so. If you want someone to give you an unbiased opinion of the stone’s characteristics and conditions, and highlight all of the positive and negative attributes that could affect the value of the diamond jewelry, then you have to get a qualified appraiser, preferably one that does not buy or sell diamonds.
If you are short on funds and the diamond is more likely worth less than $2,000, then you could have the stone evaluated for free by a professional diamond buyer or even a pawnbroker because spending money on a formal assessment is not always necessary. You could have a solid idea of the specifications and the state of your stone after visiting two or three shops to get a range of options.
- Set a realistic price
There are two options of how to approach this; if you are having an appraisal, then you could ask how much the stone might be worth in all of these specific markets and circumstances because a good appraiser would usually follow the current market trend and could help you understand the potential resale for the value of your diamond.
The second thing that you could do is, do the legal work yourself:
- Look at prices of completed eBay sales for diamonds jewelry that have similar characteristics to your stone
- Check out a comparable new diamond in retail stores and online
- Factor in a discount for your pre-worn jewelry
The fastest way that you could be disappointed when you are planning on selling your
diamonds are having unrealistic price expectations for your diamond.
You have to keep in mind that the only possible reason that other people would buy your diamond is that they are either going to make a profit or because it is a good bargain. If they think that the price that you are offering them is not worth the piece of jewelry that you have, then they would rather buy a new one.