Selling Your Luxury Jewelry

Looking to cash in your high-end luxury jewelry? You’ve come to the right place. Today we’re showing you how to sell your luxury jewelry and how to get the best price for it. 

Educated Opinions & Appraisals

Once you are able to understand the value of the luxury diamonds you have, you will be able to come up with a realistic price to sell them for. Initially having realistic expectations for your diamond is one of the fastest ways to sell them. Neil Beaty, owner of American Gem Registry recommends that you determine an astute price before jumping ship with your jewelry. He also recommends first having the diamond appraised, asking a lot of questions, and discussing possible selling strategies prior to choosing a price.

It doesn’t hurt to visit two or three diamond appraisers to get multiple opinions. Beaty says that “Discussing pricing strategies is about 80% of the benefit of an appraisal for resale customers,” Using an appraiser can help you understand the markets trends as well as the highest potential resale value of your diamond.

That being said there are some things to avoid doing when selling your luxury diamonds…

Things To Avoid

There are some things to avoid when it comes to selling your luxury jewelry. One of them being envelope drop-in services. Jewelers with a good reputation should speak to you directly in-person about buying your luxury jewelry from you. Mail drop-in services are the equivalent of selling scrap gold online and only getting fractions on the dollar. In other words, if you want to get your money’s worth – you’ll take your luxury jewelry to a trusted jeweler. 

Another thing to avoid is selling your jewelry luxury or not to pawn shops or auction houses. Auction houses typically charge a 25 percent premium to the buyer and seller, as well as a fee for any unsold items. Whereas a pawn shop usually pays out less than 25% of the face value of an item. 

Finding A Buyer

Finding a buyer with a good reputation is one of the more important aspects of selling luxury jewelry. As we discussed in the “Thing To Avoid” section, you wouldn’t want to sell this type of jewelry to just anyone. 

You want to work with someone you can trust before settling on a final buyer’s price. This is where you may have to do some research. But the more research the better. Or if you’re in the Boca Raton area you can just come on down to the store and one of our expert service advisers will help point you in the right direction.

A Jeweler You Can Trust

At Raymond Lee Jewelers our acquisitions team specializes in the appraisal and purchase of jewelry such as diamonds, rare luxury estate jewelry, antique jewelry, luxury watches, and modern designer estate jewelry. It’s our number one goal to be a partner that our customers can trust.