When is the Best Time to Sell My Unwanted Jewelry, Watches and Diamonds
When is the Best Time to Sell My Unwanted Jewelry, Watches and Diamonds
Do you have diamond or gold jewelry you are thinking about selling? You may have inherited an extensive collection of premium watches? Or you have invested in diamond or gold jewelry over the years?
Keep in mind that deciding on the most suitable time to sell your unwanted jewelry, diamond or watches involves not only financial considerations, but also emotional matters. Even in case you are not emotionally attached to your diamond ring or tennis bracelet anymore, it may take a while until you are ready to let it go.
Before you start to think about where to sell your unwanted diamonds, jewelry or watch you have to determine whether or not it is the best time to dispose off your valuables. We will discuss the gold and diamond market, explain how the jewelry is evaluated, and help you determine when you should offload your unwanted jewelry. Once you have made your mind you can visit Diamonds by Raymond Lee to sell your jewelry, watches and diamonds. We at Diamonds by Raymond Lee are committed to providing customers in Boca Raton the best experience and customer service.
The Gold Market
The price of gold fluctuates on a daily basis; sometimes, a little and sometimes considerably.
The Value of Dollar and Price of Gold
It is a long-standing axiom that the price of gold rises when the value of dollar falls. Although this has remained true for several decades, the correlation hasn’t been very predictable, especially over the last couple of years.
It is vital to keep in mind that even when many experts predict an increase in gold price, it could fall just as easily. In the current economic climate marked by job loss, rising national debt, and inflation, the price of gold should be predictable; however, it hasn’t been that way. So, one of the best ways to predict an increase in gold price is to know when the Federal Reserve prints more money. Trading your gold jewelry at this time will fetch you more dollars. Visit Diamonds by Raymond Lee if you are interested.
The Current Gold Price Is Fairly Stable
Remember that the price for one ounce of gold reached $1,200 recently, but it did not reach this level in the last couple of months even though the existing economic climate suggested otherwise.
In the near future, it’s a relatively safe bet to assume that gold would remain in the range of $900 and $1,300. It means that if you sell your unwanted gold jewelry, the cash you will earn will not be too different one week to the next. So, there is little point in waiting, particularly if you require money now.
A few important things you should consider in this situation include the long-term impacts of a quick sale of gold jewelry on your finances. Would you be in a position to make gains following this sale? Would this sale assist you in getting back on your feet and create wealth again?
Do Not Wait For Things to Get A Little Better
There are often times when private sellers, like you, or even investors tend to hesitate unnecessarily, just because they contend that conditions may “still improve.” So, in case conditions are good for selling gold, but you predict they could get better, it may actually serve you to offload your gold jewelry sooner rather than later.
There is a good reason for this. While it is true that you risk not maximizing the investment if you cash in, you are also risking a drop in the market if you continue to wait. Always remember that it is hard to predict the future; therefore, selling your gold jewelry when you have the chance to make big gains is usually a smart financial move.
There is no denying that you may miss out on something bigger, but keep in mind that many times this is just the bait that tends to lure investors into lousy decisions. So, do not make the same mistake. The best time for selling your gold jewelry is when you need cash! Whether it is next week or right now, a minor difference of $10 in the value of gold would not affect your payout noticeably; therefore, sell your scrap gold jewelry whenever you need to! Diamonds by Raymond Lee can help you in this regard and offer the best price for your gold.
Understanding Diamond Resale Value
The first thing you should know when it comes to selling diamonds is that unless the diamond or diamond jewelry in your possession is distinct in one way or another (color, size, clarity, provenance and cut) you won’t receive more money than the amount you paid for it.
Similar to cars, diamond jewelry tends to lose a major portion of its value when you walk out the store. If you are looking to sell a pre-owned diamond, it is reasonable to anticipate about a 65% discount to the original retail price that you paid for the item.
Keep in mind that buy-back prices are considerably lower compared to retail prices as the buyer has to compensate for operating costs as well as other business expenses.
Trading Seasonality of Diamond
Like a majority of products except a few goods such as food, diamond has seasonal buying trends.
The demand of diamond jewelry is tied directly to either life cycle or various milestone events, like weddings, anniversaries, births, graduations or religious events.
However, at the same time, sales of jewelry in the US are often driven by various calendar events. This is why some months can be busier compared to others when it comes to diamond trading. Knowing and understanding the seasonality of diamond sales can help in fetching the best price.
Three main events tend to drive jewelry sales in the US. These are the Holidays season, Mother’s Day and Valentine’s Day.
As you would have thought, November through to Christmas is often the busiest season for diamond trading. And there is also a spike before Valentine’s Day. These are the best times for selling diamonds as industry professionals who may be interested in purchasing pre-owned items would be more inclined to pay a premium price for diamonds before these important calendar events. By visiting Diamonds by Raymond Lee you can get the best price for your diamonds as we have been serving customers in Boca Raton for several years.
Keep a Close Eye on Market Trends
Although calendar events may stay the same, keep in mind that general trends, especially in case of polished diamonds price, can experience considerable fluctuations over the years. So, we will advise you to keep track of the market price of diamonds, and stay on the lookout for diamond price peaks and drops.
For example, a significant drop in the diamond price occurred in 2015; however, according to experts, the long-term or historical price trend for diamonds usually stays positive.
Is Your Diamond In Demand?
While diamonds may not be forever, keep in mind their attributes certainly are. A number of diamond qualities such as carats, cut grade, shape, color, as well as clarity, affect the price of your precious stone. And perhaps, more importantly, in case a particular attribute or trait of your diamond or diamond jewelry has a relatively higher demand in the market, then you are more likely to fetch a much better price for the stone.
With that in mind below are some of the diamond attributes to take into account when deciding if it is the right time to sell your diamond.
Diamond Shape
If you have a type of diamond which is in high demand, it sure helps a lot and this is usually determined, to some extent, by its shape. Keep in mind that one of the most popular diamond shapes is the round brilliant cut. It is followed by princess and several cushion fancy shapes. If you have a round diamond, it will provide you a good price as well as quick payoff.
That being said, an unusual or peculiar fancy shape can result in a much greater payoff. It may take more time to locate the jeweler or buyer who has an urgent need for it. Again, it is important to remember that timing is important.
Diamond Size
One of the most noticeable things about diamonds is their size, and as you can imagine for most individuals, bigger is better. For several decades, the most famous size has remained about one carat. Keep in mind that smaller diamonds are more difficult to sell compared to pieces that feature a center stone which is one carat or more.
Diamond Cut
When talking about the most vital attribute of a diamond most consumers are likely to say that it is size which makes the most difference while jewelry professionals, on the other hand, will almost unanimously claim that it is the cut.
Although many people confuse diamond cut with its shape, it is certainly different. The diamond cut often refers to its symmetry, proportions, and polish. Remember that the diamond’s beauty depends a lot more on cut compared to any other factor.
An excellent diamond cut goes a long way to enhance the fire, brilliance, and scintillation of the diamond. Although these terms may be hard to absorb for rookies, the most vital thing you should know is that a good cut will enhance the beauty and value of your diamond.
Diamonds with Fancy Colors
If you have a fancy-colored diamond you are lucky. These diamonds can be much rarer compared to white diamonds and thereby more valuable. These diamonds, in recent years, have been in extremely high demand especially at auctions; this effect has gradually trickled down to the customer level.
When it comes to color, pink diamonds are usually the most popular choice but blue and yellow are also favored. Although pricier than white diamonds, they tend to hold their value much better compared to the more ordinary diamonds available on the market.
Market for Watches
Nowadays, you can find advertisements online which encourage you to click to sell your luxury watch. You can get top dollars for your pre-owned high-end watch. It is part of a big push by many companies to purchase rather than sell luxury timepieces.
This is similar to the “cash for gold” wave of many years ago, but it can be viewed as an extension of that craze in a way. Savvy marketers have discovered that in a lot of instances, there is more money to be made in advertising to purchase people’s unwanted stones and metal instead of looking for a market in order to profit from them. These days, the very same thing is occurring with high-end luxury Swiss watches. We at Diamonds by Raymond Lee understand this and offer you incredible prices for your high-end luxury Swiss watches.
Luxury timepieces are some of those rare products which usually have extended life cycles beyond being bought brand new and then sold. These products have values of a minimum of $1,000 at the moment they are being resold; also, many could have much higher values.
Actually, the relatively high nature of many new high-end watch purchase prices often makes these watches a highly desirable pre-owned product, as most buyers frequently search for the best deals. So, we can say that, in several ways, the pre-owned luxury watch market is very similar to automobile market. This is why a desirable watch in great condition could have many lives after its first owner.
When it comes to selling your old car, one of the age-old questions is whether you want to deal with all the hassles of locating a buyer or are simply satisfied to get a little less and sell your vehicle to a dealer. Keep in mind that the same dilemma is applicable to the sale of luxury pre-owned watches.
As a seller, you have a wide range of convenient tools available to you to sell your watch directly to other customers online. As in the case of jewelry and diamonds, what makes the most difference is when you need the cash.
The gradual rise in competition for luxury watch purchases usually benefits the seller. Not only do people anticipate a fairly reasonable market value in exchange for their unwanted watches, the selling process has become more simple and transparent.
Established luxury industry usually contends that pre-owned watch retailers tend to exist on the fringe, and sell to aspirational customers only who are not interested in purchasing new. This is simply not true as the pre-owned watch industry is a natural and vital extension of the new watch purchasing experience.