You can make a substantial amount of money by selling diamond jewelry that you no longer need or want. Depending on when a particular item was made, the size, color and number of diamonds used and the other material used in the jewelry item (i.e. gold, sterling silver, platinum, titanium, etc.) a diamond necklace, ring, earring set or bracelet can sell for hundreds or even thousands of dollars. Following is some important information on when, where and how to sell diamonds in Boca Raton.
When to Sell Diamonds
If you have large, valuable diamonds, then be sure to check the spot price of diamonds before heading off to sell your jewelry. The spot price indicates how much a diamond is worth at any given time and can have a large bearing on how much you can sell your jewelry item for. However, if the diamonds are small and the item consists mostly of gold or silver, then checking on the spot price of these metals can be a good idea.
If the diamond was given to you by an ex-spouse or passed on by a parent or close relative, make sure you are emotionally willing to sell it. Selling diamond jewelry that you are attached to before you are actually ready to do so can result in emotional pain and suffering that can take time to heal. Additionally, you are unlikely to make wise selling decisions if you have not dealt with your emotional attachment to the jewelry ahead of time.
Where to Sell Diamonds
There is no shortage of potential buyers. Jewelry stores, pawn shops, individual buyers and online jewelry buyers may all be willing to buy your diamonds. However, not all buyers are willing to offer a reasonable price. Additionally, selling an expensive diamond in a less than careful manner can put you at risk of being robbed.
Commercial Diamond Buyers in Boca Raton
Pawn shops will likely buy your diamond jewelry almost immediately; however, they are also the least likely to give you a decent price for your jewelry item.
If your diamond jewelry is in good condition, then a commercial jeweler may likely be interested in buying it with the intention of selling it at a profit later on. Alternatively, some jewelers may offer to sell your diamond jewelry on commission. What this means is that your item will sit in the store until an individual buyer comes along to purchase it; when this happens, the store gets a commission and you get the rest of the money. Either of these options can be a good way to sell a diamond necklace, earring set, wedding ring or some other similar item in Boca Raton. However, you will probably want to take your diamonds to various locations and see which one offers the best deal.
Commercial Buyers Online
There are many commercial jewelry buyers that are willing to buy diamond jewelry over the internet. However, not all of these entities are trustworthy. While some online buyers may give you a higher quote than you are getting at a local store, take into account that shipping the diamond to the buyer can be expensive. Additionally, you will want to check out the buyer’s rating on the Better Business Bureau website to make sure you are not being scammed.
If your diamond jewelry is an antique, you can get a lot of money for it by selling it to an antique store. However, you will need to either have proof that your jewelry is in fact a genuine antique item or be willing to pay an appraiser to look over the jewelry and give a price estimate.
Selling a diamond to an individual buyer is likely to be your most lucrative option. An individual buyer will pay retail price for your diamond, as opposed to a store that will give you a lower price in order to turn a profit.
You can sell a diamond to an individual buyer by putting out a classified ad in the newspaper, listing the diamond for sale on Craigslist or advertising the diamond for sale on eBay. However, you will most likely want to avoid the first two options if your diamond jewelry is very valuable, as you will have no control over who will respond to your ad and come to your home to see (or steal) your diamond jewelry.
How to Sell your Diamonds
- A tarnished jewelry item is technically just as valuable as an untarnished item; however, your jewelry’s appearance will have a bearing on how much you will ultimately earn and how long it will take to sell.
- If your diamond jewelry is worth less than $1,000, then try cleaning it at home before you sell it. This can easily be done with warm water and ammonia. However, valuable diamond jewelry items should only be cleaned by a professional.
- Caution should also be exercised if your diamonds are “fracture filled”. Fracture filled diamonds are diamonds with small cracks and crevices; these small imperfections have been filled with clear glass and may cloud over or even be removed by an abrasive cleaning or ammonia-based cleaning solution.
- Setting a Price
- If you are not sure how much to sell your diamond jewelry for, visit a few jewelry consignment shops and check out the price of similar jewelry items. If you have a friend who has recently sold a diamond, ask him or her how much it sold for, where they sold it and other important information. Those who are selling diamond jewelry to an individual buyer can find out the price of comparable items by checking out eBay or Craigslist. While there is no guarantee that you will get as much as you want, knowing the value of what you have to offer can help protect you from being cheated.
- Cautious Handling
- While diamonds are durable, they can be chipped or even broken when knocked against or dropped on a hard surface. Always exercise caution when selling diamond jewelry and ensure that it is handled with care.
Selling your old, unused diamond jewelry can help you earn a substantial amount of money. However, be aware that it will take some time to find a good buyer if you want to turn the highest possible profit. Get an appraisal when warranted, compare price offers from various buyers and make sure you are selling your jewelry at the right time in order to make the most of what you have to offer.