Do you want to sell your jewellery?
Get more money even if you have to wait, or do you want to sell your jewellery quickly, even if that means you might be paid less? Let’s take a look at what options you have and how to choose the best one for you.
Finding the best option to sell your diamond
Another important factor is whether you want cash for your stone, or you are willing to exchange it for another piece of jewellery Let’s take a look at the best options for selling a diamond for cash and then see what you have to do if you just want to trade it for jewellery.
Let’s take a look at why selling your diamonds for cash may not always be a good idea, and find out what other options you have. The main options for selling for cash are through diamond dealers, retail jewelers, or an auction.
Diamond dealers are the best choice when speed is important
These people specialize in buying and selling diamonds, so they will quickly make you an offer and quickly follow through if you accept it. The downside is that you can get less money than if you sold the diamond at a jewellery store or auction. The reason for this is that the buyer will have to resell your stone and will thus offer you a lower price in order to profit from the process.
Selling diamonds online
Selling your diamonds online is one of the easiest ways to turn your stones into cash. You can place an ad or go to an online auction site and try to get as much as possible for your diamond. Just remember that if you want your stone to fetch a good value, it is advisable to back up its value with official documents such as a third party appraisal or diamond grading report.
Sale through a jeweler
Some jewelers may take your diamond for a commission to their shop or their website. You will be charged for this service and must leave the stone with the jeweler (if sold in the store). You may also need to specify a minimum price for the item. How soon a diamond is sold can depend on many factors, including how prominently your stone is displayed on the showroom (or on the jeweler’s website). Retail jewellery stores might be able to offer you a higher price per stone than dealers, but this is not always the case. It is true that by selling to jewelers, you are skipping the middleman of the wholesale, but not all retail stores actually buy diamonds. And many of those who buy cannot offer you a much better price than what you would get from the dealer.
In general, going to jewellery stores is the best way to sell your diamonds if you are in no rush and have time to ask around and negotiate the best price, or wait for the stones to sell.
Auction sale jewellery
We already mentioned that you can list your diamonds in an online auction, but you can also sell your jewellery through an auction house or a jeweler who provides a service or website such as eBay. It should be borne in mind that compared to other options, these auctions are relatively expensive in terms of fees, but the revenue can be higher. This is why auctioning is recommended for unique items that may be of interest to a large number of potential buyers who are likely to offer a starting price. Usually, an auction is the best choice if your stone is unique in some way or has any antique value.
Pawn Shops can buy your diamond, but don’t go there if you don’t know how much your stone is worth in terms of quality characteristics. The pawnshop people have a lot of experience in valuation and negotiation, and if you don’t understand how to determine the value of your diamond, you won’t be able to get the best price. How much money can you get for a diamond? It is much better to evaluate the stone first in a classified laboratory (such as G.I.A.) and use the grading / grading certificates to negotiate the best price.
Redemption of a diamond
Some manufacturers include a buyback clause when selling a diamond. If your stone is sold with a buyback policy, it will state how much money you could get for it if you decided to sell it back to the supplier, and under what conditions such a transaction is allowed. Repurchases are usually carried out as a percentage of the original cost and are often only allowed for a certain period after the date of purchase.