You may never know when your precious diamond jewelry will come in handy to save the day. When faced with bills and an inability to pay them consistently, that jewelry piece you have had for years could help you offset most of the debts and get you back on track.
However, it matters where and how you sell the jewelry to get a good price.
Not everyone gets the best value for their diamond jewelry. Knowing who to sell to and how to go about it makes the difference between getting the right value for the piece and being shortchanged.
Rather than struggle with bills and debts when owning a precious jewelry piece, consider putting your pre-loved diamond jewelry on the market. To do this right, there are a few tricks that make sure you are protected.
This article explores some of the practical tips that guarantee results.
Table of Contents
1. Know What You Own
When you intend to sell diamond jewelry owned by someone else before, it is vital to get the value right. Don’t just rely on their word for it. Older people sometimes exaggerate the importance of their items, but this is not always true.
Forget about talking your grandma’s word for it. Consider having an appraiser look at the diamond jewelry for the correct determination of quality and value. These are essential aspects that determine the real cost of the jewelry.
You can also get a rough idea of how to price the items and avoid being duped. Even more interesting is that you don’t have to spend so much money hiring a paid appraiser. There are lots of appraisers that offer such services for free. Be sure to investigate and check out the appraiser’s reputation first before engaging them.
2. Set a Realistic Price As It Works Every Time
Once you know the approximate or actual value of the diamond jewelry piece, your next move should be to set a realistic price. Sometimes the urgency of selling may determine the pricing. Most people are forced to sell at a slightly reduced price when they urgently need cash. Even when you are not so pressed, don’t overprice the piece.
This is often the fastest way to disappoint and even lose potential sales. Manage your expectations and talk to your appraiser for likely pricing details. These experts have more insights on what jewelry like you would cost.
If you don’t want this, you can invest in research work and compare it with other sellers and outlets that deal with diamond jewelry. You should have a competitive price to attract competitors’ customers and make your items more attractive to such buyers.
3. Check Out Different Selling Options
There are several selling options when you decide to resell the diamond jewelry. The first is to use industry channels which may mean dealing with brokers and companies/ businesses that deal with diamond sales.
The second option is to go public and attempt to sell the product yourself. In most cases, the goal is to see which option gives you a faster deal, not necessarily about the price.
Secrets to selling the pre-owned diamond piece quickly are to target avenues such as pawn shops, diamond dealers, or local jewelers. These are ready markets that can absorb the product much easier than when you embark on finding individual buyers. There is a lot that goes into dealing with private buyers. It is essential to trust the buyer fully before releasing your valuable piece.
4. Sell Directly or Through a Dealer
You can always sell diamond jewelry through a dealer. This involves visiting diamond-selling experts, including pawn shop owners, diamond jewelry recyclers, and wholesalers. Research the different price offers they give and choose the most favorable one.
Alternatively, advertise to sell directly on different platforms. Start by checking out e-commerce sites such as Amazon and E-bay as they match sellers to buyers. You can also advertise on classified ads and contact the seller directly. Choose a public place for your meetup.
5. Work With a Reputable Lab
Diamond business is very serious and must be handled with caution. A reputable diamond lab helps authenticate the diamond jewelry you own. This way, buyers can confidently purchase your jewelry piece without second-guessing themselves. The fact that they can prove the quality makes it easy to sell.
You will likely attract more potential buyers when you prove you have an original rare piece. The lab certification proves this much more easily and makes it possible for you to attract the kind of buyer that will pay a decent amount for the diamond piece.
Final Thoughts
Selling diamond jewelry is not difficult. Whether you are selling a bracelet, ring, or earrings, the aim is to get an excellent price for it and sell quickly. Most people put their valued diamond jewelry on the market because of emergencies. It would be best if you, therefore, made the sacrifice count. Don’t rush to sell the piece and regret it later for giving it at a throwaway price.
