Different Ways You Can Use For Selling Diamond for Cash

We could speak about the eternal ideals expressed and symbolized all day long by diamonds. We still have to admit, however, that even diamonds cannot be eternal. There are cases where you would like to sell the diamond, but most of us equate them with getting involved and as jewelry that will be passed down in family traditions. There may be situations, for instance, where your financial situation forces you to do so. Or in the unlikely event that a relationship has somehow turned sour, it may be at the top of your priority list to get rid of things that might revoke past feelings.

Now, it is easy to purchase a piece of jewelry. You can just step into any jewelry store on the spot and make a purchase. When you are trying to sell it, the reverse holds true. Let’s look at some valuable tips to help you sell discarded diamond jewelry online for cash that you can use.

GRADING CERTIFICATE:

Diamonds are a serious trade. If you are selling a diamond, I can guarantee that from your hand, the other party will demand to see evidence and authentication of the qualities of the diamond. The best and easiest way to create a fundamental trust is to be graded by an authoritative gemological laboratory, such as the GIA-Gemological Institute of America.

Information on the precise weight, cut consistency, clarity and color of your stone is typically included in the grading certificate issued by such institutions. Because a neutral 3rd party conducts the grading, it removes all prejudice views from both sides. You may also want to consider having an appraisal done by a local appraiser, too. It is easier for you to comprehend the value of the jewelers in the current market conditions until your diamond is assessed.

This provides you with a deeper understanding of value to suggest and evaluate deals. You may also measure it against a price list called the Rapaport study that jewelers use to benchmark prices for a more reliable estimation of the diamond’s worth. In short, the pricing of Rapaport is the standard “high cash asking value” used as a guideline by diamond buyers and sellers when making trades. This list is often used by several retailers as a guide for pricing their products in retail stores.

Since Rap prices are determined for a specific form and grade of diamond based on current market conditions, the ratio between the value of Rapaport and the selling price of your diamond could give you an idea of the efficiency of the offer.

CONTACTING A JEWELER WHO ACCEPTS USED JEWELRY:

In addition to buying from dealers, some jewelers can also directly take in people’s used jewelry. You must be armed with knowledge of the appraisal value of your diamond and, ideally, a GIA certificate while doing business with these jewelers. You see, these jewelers are businessmen and they want to make the best out of their offers, just like you. Quite often, at a value below the dump price, they will just try to buy your jewelry.

Now, the dump price is around 40 percent of Rapaport’s value for every gem. In my view, when attempting to sell to a jeweler, this is the value you can never go below. In my personal experience, as negotiation takes place, most jewelers prefer to start at low prices and slowly move higher. To start off, to undercut your value and increase their income, they will possibly suggest a price below the dump price.

The smart thing to do is never commit to the original offer, as with most other negotiations. In order to agree on a price that works for both sides, it would take some negotiating skills on your side. And the fact is, if you sold your diamond under the dump value to them, they could easily resell the stone again.

If a jeweler offers a price slightly lower than 40 percent of the value of Rapaport, remain optimistic and continue to negotiate until he agrees to a price closer to 60 percent-70 percent of the price specified.

SELL DIAMONDS ON YOUR OWN:

You may want to try sourcing for potential customers yourself if you are willing to invest some time or like doing DIY deals. There are a handful of methods of selling various possessions in general, and several of these approaches can also be extended to gemstones and generic jewelry.

To see if they are interested, you may want to make use of well-known forums such as Craigslist or possibly contact friends and acquaintances. You may also put classified advertisements in your local papers or try to list the item on eBay. Notice that your chances of selling and finding a prospective buyer would be much smaller (and more risky) as we are talking about a considerable amount of money being involved here.

CONSIGNING DIAMOND WITH A LOCAL JEWELER:

Because of confidence problems, selling diamonds on your own is typically harder than working with a jeweler. Think of it, would you buy from an online listing that you find from a stranger or would you be more open to purchasing from a store?

You may want to consider putting them on a consignment basis with a nearby jeweler if you want to save the hassle when selling unwanted jewels. This means that in their inventory, a jeweler can put your item and try to sell your jewelry on your behalf.

The jeweler takes a cut from the transaction if a profitable sale occurs. How easily the diamond is sold with the consignment really depends on 2 factors: how much daily traffic the store receives and how much demand there is for your particular style of jewelry.

Using this strategy protects you from possible headaches and security threats while consigning your jewelry can cost you some service fees. You see, it’s easier to exploit the credibility of a brick and mortar store, unless you have the sales expertise to weed out potential customers on Craigslist and eBay. This is how you can easily sell your diamond in UK. Through this path, the secret to success is to find a reputable jeweler to partner with. Besides, consigning a piece of jewelry also yields a better return, because once he/she sells the diamond, the jeweler is not compensated. For any party involved, this is truly a win-win situation, particularly if you have a diamond of decent quality.

 

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