If buying your first diamond jewelry was an unforgettable moment, selling it can be indelible unless you are well prepared. You may want to market a piece for many reasons, economic, lack of interest, or simply a gift you didn’t like. Whatever may be the means of acquiring it, the channels to sell a new or old piece of jewelry are the same. If you’re no expert when it comes to diamond jewelry, here are some key points that will help you sell your precious jewelry without regrets:
1. Estimate your ornaments correctly:
That first piece of jewelry gifted by your husband or you got yourself will always remain special. It may mean the world to you, but it won’t necessarily cost that much. The best way forward is to get an accurate picture of what you’ve got on your hands (or wrists or neck). To check the diamond, you wear genuinely is the diamond of your dreams or just another object that shines? Also, evaluate if your jewel is expensive enough to splurge on a formal assessment of its value. For a precious but tiny ornament, you could rely on the advice of a professional diamond buyer for no cost.
2. Be practical: once you know that your much-loved piece of jewelry is valuable, it is time to get a price on it. With changing times, prices vary too. A jewelry appraisal is one way to go. It describes your jewel, assesses its relative quality, and assigns a value to it. It helps you decide if you want to make the sale or hold on to that glittering diamond jewelry for a little longer.
3. Explore your marketplace: deciding to sell your diamond jewelry is one half of the process; the second half determines where you want to sell. You could sell your piece of fine jewelry to the industry, a local buyer, or a private party. Do keep in mind reselling your precious diamond will get you a price at least 25% to 50% lower than the price you bought it.
4. Don’t sell in haste: Selling because a piece of jewelry isn’t trendy anymore is a mistake many make. Holding onto a piece of fine jewelry brings you the benefit of appreciation over time. In the case of evergreen pieces, they can eventually become family heirlooms. Similarly, if the heirloom has been around for too long and is too delicate to wear, it is best to be wise and sell it for a reasonable sum.
5. Keep certificates and invoices ready: To avoid wasting time and energy, it is best to have certifications and invoices at the ready. Also, buying from a legal, reliable source makes reselling that much easier.