Diamonds and jewellery often have a sentimental value attached to them, which makes them difficult to sell. Whether a piece is a symbol of a relationship or a family heirloom, they can be extremely personal objects. There may come a time when one makes a choice to sell their diamonds. It could be because finances might be tight that month, or because it’s time to move on from a relationship. Whatever the reason, if you’re planning to sell your gold or diamond jewellery, several things must be considered before making the final decision.
• Getting an Appraisal
Getting a written appraisal is one way to evaluate the value of your diamond and jewellery. A few things must be kept in mind though. The cost of a written appraisal may not be worth if it’ll not fetch a good price for your piece. Also, make sure to ask about the resale market value of it. It’s possible to have received a retail appraisal which is higher than the sum you’ll receive from a jewellery buyer.
It’s recommended for clients to seek free verbal appraisal instead of written ones. Not all establishments offer it, but many do. Some businesses which purchase estate jewellery are pawnbrokers, jewellery shops, online buyers and dedicated jewellery buyers.
• Manage Your Expectations
Even after the appraisal of your jewellery, it must be kept in mind that the amount mentioned isn’t a guaranteed amount. Things like the beauty, rarity, whether the piece is outdated or in style, the origin of purchase, are all-important attributes to keep in mind. Some market research can prove to be extremely helpful. It’ll help you get a better idea of what price similar pieces fetch.
But, also know that a piece holding tremendous sentimental value to you will only be a necklace or bracelet to someone else. It’s extremely rare selling a second-hand piece of jewellery to someone and receive anything even close to the price it was purchased for.
• Selling to a Pawnbroker, Jewellery Buyer or Online
Selling your piece to a pawnbroker, jewellery buyer or online are tried and tested ways. And like everything else, they all have their ups and downs:
It’s one of the least recommended and riskiest options available. But, if you’re in need of fast cash, this is your best bet. If someone is buying your jewellery, be it diamond or gold, it’s only so that they may make a profit for themselves. In the case of pawn shops, the sale might be quick. But know that the dealer will try to undervalue your piece, and take a rather large cut for themselves. Hence, it is advisable to proceed with caution.
It’s one of the safest options for several reasons. Diamond and jewellery buyers have their reputation at stake, so they’re more trustworthy. Also, certified buyers are more interested in making a rapport with the seller, as the seller may also be a potential client. If time isn’t a factor, a certified gemologist can be contacted. But keep in mind that they’ll have their own margins and hence, may not give you the best value for your diamonds.
Selling jewellery online is very similar to selling anything else. Some precautions must be taken if you do manage to sell your item. Selling online can be effective, but both parties have to trust each other and hope the transaction completes itself without anyone getting conned. In some cases, you might have to meet the buyer, which comes with its own set of risks. In others, you may auction the piece and both you and the buyer send everything to the folks at the website. They make sure everything is proper, and send things where they belong.
It’s important to keep in mind that diamonds and jewellery are material things. Peace of mind has an inherent value at the end of the day. Depending on the circumstances, getting rid of a symbol of the past may provide great peace of mind. It’s a good idea to prepare yourself mentally for what it’ll feel like once the piece is no longer a part of your life. Whichever option you may prefer, be sure you’re following the necessary steps to get the most out of selling your jewellery.