4 Tips for Selling Your Diamond or Estate Jewelry

To help unravel the mysteries of diamond selling, here are four tips to consider before hocking your stone.

1. Know what you’ve got

Just because your grandmother said her diamond ring was valuable doesn’t make it an actual fact.  It may not even make it a diamond. So, before you rush to market, get an accurate picture of its quality and authenticity. A qualified appraiser can give you a true analysis of the stone’s characteristics and condition, and highlight positive and negative attributes that could affect its value.

2. Set a realistic price

Having unrealistic price expectations for your diamond is the fastest way to disappointment with any ultimate sale. If having an appraisal, ask how much the stone might be worth in specific markets and circumstances. A good appraiser follows current market trends and can help you understand the potential resale value of your diamond.

3. Investigate your selling options

Resellers of diamond jewelry have two options: sell to the jewelry industry or to the public.  Choosing a buyer isn’t always about getting the top price, but is often a function of how quickly you can settle the deal and how much you trust the buyer.

The primary advantage of selling to someone in the jewelry industry is time. If you want to sell quickly and safely with little fuss over marketing, use a company that is known for buying and selling diamonds. The most important thing is to choose someone you trust. Be sure to always check their Better Business Bureau rating and choose a company who is dedicated ethical business practices.

4. Be emotionally ready to sell

Because diamonds are often symbols of passion or love, they can be harder to part with than any other piece of jewelry. Nonetheless, you have to leave emotions out of selling. Sentimental value may raise the price of the diamond in your eyes, but a potential buyer won’t be so moved.

So, if you are planning on selling your diamond or estate jewelry, don’t forget these 4 tips, Know what you have, Set a realistic price, investigate your selling options and most importantly, be emotionally ready to sell. When you are ready to sell, visit U.S. Coins and Jewelry. U.S. Coins and Jewelry is registered with the State of Texas as a Precious Metals Dealer and our scales are not only certified, but also calibrated by the State of Texas. We also use a state-of-the-art X-Ray Fluorescence (XRF) analyzer to test the purity of your metals. This is a non-destructive method that insures safety and won’t harm your precious heirlooms.