July 14th, 2023
Common Questions About How To Sell Diamond Jewelry
Selling diamond jewelry can be a daunting task, especially if you are unfamiliar with the process.
There are a few common questions that people often have when it comes to the process. From how to value it properly, all the way to how to sell it.
In this article, I’ll be attempting to answer most of the main ones.
How to Sell Diamond Jewelry?
The best way to sell diamonds for cash will depend on your personal circumstances and the specific characteristics of your jewelry.
If you are in a rush to sell your diamond jewelry and are not concerned with getting the highest price, selling to a pawn shop may be the quickest and easiest option.
If you have the time to wait for a higher price and are willing to put in a little extra effort, an online diamond jewelry buyer or an auction site may be the best option.
But if you’re looking for the best of both worlds, selling to an estate jeweler like SellUsYourJewelry.com may be the best option.
Sell Us Your Jewelry.com is an online platform and buying division of Gray and Sons Jewelers and you can sell or consign your item through their online platform from your own home or you can visit their showroom in person. Selling to or consigning with SUYJ will be more profitable than selling to a pawn shop.
And you can pick up a phone and speak to an in-house diamond specialist anytime during business hours. There is a comfort level associated with knowing that you are dealing with a real person in a real store located in Miami, Fl.
When choosing an estate jeweler, you want to look at their reputation and their reliability. The best way to figure that out is by looking at Google Maps reviews. You’re looking for an average score of at least 4.5, with frequent and recent reviews.
But before even thinking about selling, you need to figure out how much it’s worth.
How do I determine the value of my diamond jewelry?
To determine the value of your diamond jewelry, you may need to have it appraised by a professional. An appraisal is a document that provides an expert assessment of the value of your diamond jewelry. The highest authority in the diamond world has the certificate issued by GIA. Having your certificate in hand will improve your chances of getting the highest price.
It should include details about the diamonds, such as their color, cut, clarity, and weight. As well as information about the metal and any other materials used in the piece.
The GIA certificate will specify the following:
- Color: The closer to colorlessness it is, the more valuable it is. The only exception being colorful diamonds, like pink ones.
- Clarity: Diamond clarity refers to the absence of these inclusions (inside imperfections) and blemishes (outside imperfections). Diamonds without these birthmarks are rare, which would make them more valuable.
- Cut: Cut refers to the angles and proportions of the diamond. And it involves brightness, durability, polish, symmetry, and a few other aspects.
- Carat Weight: Diamonds are measured in carats (not karats, which refers to gold’s purity). A carat is equal to 0.2 grams, and it can be divided into 100 points.
And remember, a professional appraisal will provide the information you need to know. You can then use this information to compare the prices being offered by different buyers to ensure that you are getting a fair price for your diamond jewelry.
If your diamond didn’t come with the GIA certificate, seek advice from a trusted estate jeweler. They may assist you with obtaining a GIA certificate or they may provide their professional evaluation after inspecting the jewelry.
Pawn shops may lack expertise on diamonds and strictly online platforms may not be trustworthy to ship your valuables into the unknown.
Also, it is important to be aware of any hidden fees or small print clauses when selling jewelry through auction houses or online consignment platforms. These fees can significantly reduce the amount of money you receive from the sale of your jewelry, it is important to carefully review any contracts or agreements before proceeding.
And consider the reliability and trustworthiness of the platform or auction house you are using.
Do some research and read reviews from other sellers to get an idea of the reputation of the company. It is also a good idea to familiarize yourself with their step-by-step selling process including timeline, shipping, insurance requirements, a form of payment, either by check, wire, or cash, or if you decide not to sell, the procedures on how to get the item returned.
And if you’re looking for a reliable and trustworthy place to sell, consider Gray & Sons and SellUsYourJewelry.com. With decades of experience and a reputation for excellence, you can be sure we’ll be providing fair prices and perfect service every time.
What do I need to know about taxes when selling diamond jewelry?
If you sell your diamond jewelry for a profit, you may be required to pay taxes on the sale. The specifics of the tax implications of selling diamond jewelry will depend on your individual circumstances and the laws of your jurisdiction.
Hopefully, I’ve done good work clearing up some of your questions.
If you have any other questions, you can always contact us.
And if you’re ready to sell, you won’t be in better hands than with SellUsYourJewelry.com
If you’re in the Miami area, you could even show up at their flagship location Gray and Sons Jewelers.
click here to