Are you planning to sell a diamond jewelry piece that you have possessed over a long span of time? If you are doing so for the first time, then you are likely to be apprehensive as to whether you will get a fair price by selling it. Here are some steps that you should follow to get the best deals on the diamond jewelry piece that you possess:-
Selling Diamond Jewelry is different from Selling Gold Jewelry
One of the first things that you should keep in mind is the fact that its market value is more prone to changes in current market trends as compared to gold jewelry. An ordinary gold necklace, for instance, will be valued only on its weight in gold and the present gold trading price unless it is from a well-known luxury brand like Cartier.On the other hand, if you are selling a diamond ring, earrings or any other jewelry piece, the cash offer you will get will be based on its resale value. So, to get a good idea of its resale value, you will have to consider its brand name. The more popular the name of the brand, the greater value will the jewelry piece have. Some of the most famous diamond jewelry brands include Cartier, Neil Lane, and Harry Winston.
Take into Consideration the Size of the Jewelry Piece
The next area that you should focus upon is the size of the diamond jewelry piece. A 1+ carat diamond will be more expensive as compared to a .95 carat diamond since a diamond of 1+ carat can be rarely found as compared to the one that is under 1 carat. However, don’t focus solely on size. The most valued diamonds are the ones that have a high color grade(D-j grade) and a high clarity grade(VS-IF).
Acquire a free Appraisal before Selling a Diamond Jewelry Piece
It would be wise on your part to ask jewelers selling in second-hand jewelry for a free, verbal appraisal. You can get in touch with some pawn shops and jewelry stores for this purpose.
Keep a Track of the Retail Price of your Jewelry Piece
While asking a jeweler for a verbal appraisal of your jewelry’s piece’s resale value, enquire whether he would buy it back from you or not. In case you don’t, the jeweler may cite a higher resale value as he may not want you to know the actual retail price of the product.Keep one thing in mind. The retail price of a jewelry piece made from diamond is normally three times more than its production cost. Even diamond jewelry pieces that are sold online are priced up almost three times. So, while selling diamond jewelry, you shouldn’t expect to receive a quote that is close to its actual retail price. However, thanks to the increased demand for diamonds in the world market, you will earn a higher amount than you would have in the past.