People sell their jewelry for varied reasons such as paying bills, upgrading to better jewelry, decluttering, needing to make extra cash, or even divorce. However, parting with your jewelry is never easy, primarily due to the value or the emotional attachment. On the other end, Jewelers opt to restock from the public rather than buy from the wholesalers. However, selling diamonds is not easy since the resale prices may vary greatly; it’s, therefore, essential to consider these factors before looking for buyers.
1. Know The Quality of Your Diamond
Your family may have highly valued your diamond jewelry, but you can be sure of the qualities of the diamond jewelry. Hence, if you want to sell diamond ring, it’s crucial to have an independent appraiser who will assess your diamond ring and give you genuine feedback on its condition and qualities, highlighting both negative and positive.
However, you may not be ready to spend money on an appraiser. In such a case, you can get feedback from different genuine diamond buyers or registered brokers. In that way, you will know the specifications of your diamond jewelry and therefore be able to a realistic price range.
2. Set A Realistic Price
It’s essential to set a price that is too high or too low. Unrealistic high prices will take you long or even forever to sell your diamond jewelry, while stating a low price will make you very fast but lose a lot of bucks. Therefore, it’s necessary to set a realistic price based on some factors that are likely to affect the selling price of your diamond.
A good appraiser would greatly help determine the value of your diamond jewelry since they are always informed about the current market prices and other market trends likely to influence your sale.
Again if you are not ready to hire an appraiser, you can do online research on the latest prices of diamond jewelry with the same characteristics as yours. You can use an online platform such as eBay, Etsy, Amazon, and Bonanza for comparison purposes bearing in mind that your jewelry is not new. Of importance to remember is that traders will buy your jewelry if it makes economic sense.
3. Detach Yourself Emotionally from The Jewel
Jewelry always carries emotional attachment as well as memories. You are likely to associate your jewelry with love, a person you love, luck, or even sentimental attachment. However, when selling your jewelry, it’s important to detach your emotions from the jewelry. Separating emotionally from the jewel will help you assess the actual value of your ornament and make an informed decision. You should avoid the temptation to include your sentimental value in the price of the diamond jewelry, while the same sentimental value is not of any importance to the buyer.
4. Decide Where to Sell Your Jewelry
The only two options you have are selling your jewelry to traders in the jewelry industry or the public. The jewelry industry mainly consists of jewelers, diamond dealers, and pawnshops.
You can also decide to give your jewelry to a dealer you trust to sell it on your behalf at a commission. Also, note that selling your jewelry within the industry fetches less price than selling to the public. It’s important to consider selling your diamond jewelry as fast as possible and at the best price you can rather than just setting a price and forcing it through.
5. Safety
Selling your jewelry quickly, safely and at the best offer price is what you should consider a success. Remember that your safety and the safety of your jewelry, as well as the cash, is crucial. You can choose someone you trust or a business with an excellent public rating.
Conclusion
Regardless of the reason, selling your diamond jewelry is never easy emotionally and on the ground trying to find a genuine buyer who will offer you a reasonable price. However, when equipped with some tips, you will navigate through the process with some ease. Know the value of your diamond ring, do a market survey or use an appraiser, set a price, and finally sell your product to a trustworthy buyer, within the industry or to the public. Always put your safety at the top when selling your jewelry.
