Diamond jewelry is a great investment – for you can always resell the set or the diamond to get higher returns in better times. Especially if you get lucky by reselling a vintage design that becomes trendy again. But most people tend to be skeptical about finding the right buyer and cutting a fair deal. Here is how you can sell your diamond jewelry without getting scammed:
Auctions
There is a minimal fee that you must give to the auctioneer, but despite that, this is the best option for getting the highest return of investment on your diamond jewelry. But the process requires a fair amount of patience to make the best deal. Local auctions can be carried out in person. Whereas, a preferred method is through buying and selling sites. Make sure that you include the specifics of the diamond, like the carat, color, clarity, and cut in the description with properly illuminated, clear pictures and an image of the GIA certificate – so that the buyer knows exactly what he/she is purchasing. You can then choose to sell the diamond jewelry to the highest bidder – but make sure that the price you are quoting is realistic.
Swap Your Diamond Jewelry for an Upgrade
Most high-end retailers give the option of swapping old jewelry for pieces at a reduced price. If you intend on selling the item because it’s old and out of fashion, then this is the most feasible option. Thus, instead of parting with the adornment for good, you can get something better – than too at a significantly lower price!
Selling to You Retailer
This can be a safer option when you intend on selling out your diamond jewelry faster – especially if you are in dire need of money. The retailer you originally bought the ornament from is usually aware of the specifications – thus, he/she may not be hesitant about paying you right away – especially if it is a trustworthy brand. On the other hand, people tend to be reluctant to sell their diamond jewelry to the shop they bought it from for there is a minimal margin of profit that you can make out of the resale.
Selling Diamonds Online
This is a feasible option for reaching out to international buyers – especially if the local market is saturated and is selling diamonds at a ridiculously low price. One thing to keep in mind is that the site you are selling the jewelry to is authentic – several diamond jewelry buyers tend to scam people by refusing to pay. Thus, look for a website that has credible and good reviews, has real contact details, and an authentic office address. Finally, make sure that they have a team of gemologists who are trained from the Gemological Institute of America. Moreover, the final purchase should be free of any discrete charges or shipment fees – then you are all set to go!
Selling Your Diamond Jewelry Through a Consignment Shop
This is a convenient way of selling your jewelry and a retail price – especially if you lack the tact and the patience to deal with marketing your product or dealing with the several hagglers on online websites. A consignment shop will sell your diamond jewelry at a price higher than the market value – you will take a fixed amount of the sale price. This tends to put off most sellers. But since the dealers at consignment shops are skilled at making a deal for a much higher price than the value of the diamond jewelry, you end up making a good deal – especially compared to what one would make if they were to try to sell the diamond on their own, while saving a massive amount of time!
Finally, parting with a prized possession – especially during the financial crisis – can be taxing on your emotional health. But don’t despair and prepare yourself for the emotions that come with letting something go. To add value, have your jewelry thoroughly cleaned and fixed – even if it is old. And if you can afford to wait for a little, sell your diamond jewelry when it comes back in trend – especially if it is a rather antique piece. Get an appraisal from an authentic gemologist to increase your chances of selling your jewelry faster and at a better price.
