The resale industry is flourishing, and the global secondhand jewelry industry is no exception. Those who want to make extra cash can simply sell loose diamonds online or through local shops. However, if you are sentimental about your loose diamonds, deciding to part with it can be difficult. So, you want to make the most of your diamond’s worth.
But how will you determine which technique is the most profitable? Here are the four best methods to sell your loose diamonds for the best prices.
1. Look For The Best Diamond Buyer
Approaching a diamond buyer with your loose diamonds is different from going to a person or company that sells jewelry. First, diamond buyers don’t have the overheads that most jewelers have. Second, a diamond buyer can offer you the best and a high price for your loose diamonds.
There’re many diamond buyers in the market that buy pre-owned pieces of jewelry at a reasonable price, such as White Pine. But before choosing the right buyer, do a little research about them on the internet. Look for reviews, feedback, and some seller recommendations, so you’ll have a better idea of which buyer to approach. You can also check if a buyer is a member of a professional or trusted body in the diamond industry.
Please note that diamond buyers won’t offer you a replacement cost. But you will sell your loose diamonds at a better price than a pawnshop or other unverified buyers. Another plus for selling your stones with a diamond buyer is that they might be bought quicker. It is a better option compared to a consignment with a local jeweler.
When you decide to go to a diamond buyer, you might already have a selling price in mind. But you have to be flexible with it. Many diamond buyers will be willing to spend a fortune to make the best deals. Due to stiff competition, they would want to form a business relationship with you if you will sell more loose diamonds in the future.
2. Consider Selling Your Loose Diamonds On Consignment
This method is ideal if you’re not hurrying to sell loose diamonds. Your loose diamonds will be stored in a safe box or case and sold when they make a good deal. Another advantage of this method is that sellers can set their product prices. It means you can receive an excellent amount since you can quote a reasonable price for your loose diamonds.
The consignment charges are usually set or fixed. But they’re minimal since you don’t have to make extra efforts to sell them. You just need to leave your items at the store and wait for an excellent deal.
How does this kind of sale work? First, as the seller, you’re obligated to sign a contract. The contract specifies that you have left your items at the consignment store for a specific duration. Second, you will take back your items if they don’t get a buyer within the specified period. Then, you can retry selling the items by quoting a different price.
3. eBay Is An Excellent Platform
Consider selling your loose diamonds on eBay. But make sure you understand your stones’ specifications to get a certificate or a diamond appraisal document. You’ll be able to establish the carat weight, precise color, cut, and clearness. Once the document is secured, the next challenge is taking a photo of diamonds for the eBay listing. For this, you’ll have to work on finding the best lighting for the diamond photo.
When listing items on eBay, honesty is key. Online buyers are well-versed in determining if you are tricking them. Be transparent with your amount for listing, PayPal, and other selling charges it may entail. Also, there’s always a likelihood that your item can be returned. You can only avoid that if you’ve already established a positive selling profile on eBay. That’s why honesty is necessary, especially if you are a first-time seller.
4. Visit Your Local Pawnshop
If you urgently need cash, selling your loose diamonds to a pawnbroker’s shop is one of the most convenient and quickest methods. But it’s not the most profitable. Pawnbrokers are infamous for offering low prices.
That doesn’t mean you can’t get a good price for your loose diamonds at a pawnshop. You can still make a good deal, but this one is the least lucrative among the methods mentioned in this article.
The best thing about pawning your loose diamonds is that you can purchase them back and sell them at a higher price, which can double the money you get for your diamond’s worth. Given that, you can still factor pawnshops into your options for selling loose diamonds for the best price.
Before you approach a shop, an individual, or a company to sell your loose diamonds, it is essential to do deep research. Make sure they’re certified and open for an appraisal. They should also be well-versed in the industry and be able to respond to any questions related to buying and selling loose diamonds. By doing this, you’ll be able to find the best buyer for your pre-owned luxury item and even make a lasting relationship with jewelry buyers for future businesses.
Information sourced by the author for luxuryactivist.com. All content is copyrighted with no reproduction rights available. Images are for illustration purposes only.