Steps to Take Before Selling Diamond Jewelry

Ring, bracelet and necklace isolated on black

There are plenty of reasons you might be looking to sell your diamond jewelry. It may no longer have the value it once did, or you may have inherited it from someone you didn’t have a strong relationship with. Perhaps you purchased it in a better financial situation and now want to get some of that money back to help handle your current living expenses.

Whatever your reasons, you shouldn’t just hop right into the very first shop you see with a “buying diamond jewelry” sign. Even if they’re reputable, the experience might not go very well unless you make some preparations first.

Are You Really Ready to Sell?

Most importantly, are you truly ready to sell the items you are planning to get rid of? Jewelry can have extreme sentimental value attached to it, especially if it belonged to a loved one who has passed away. Although financial pressures might make it tempting to tell yourself that such attachments to an object are silly and what are really important are the memories, you should carefully consider how you will feel in the future when the object is gone. If at all possible, sell your diamonds when you are not in desperate need of money, so that you make the decision under a little less pressure.

There’s a bigger reason to be sure that you’re ready to let go of the jewelry than potential future regret. If you still have a strong sentimental attachment to the piece, even if you’re trying to push it aside, it will probably make the item more valuable in your eyes. You may not be prepared to accept the actual value and may end up refusing to sell to the reliable vendors who quote you the actual retail price of the piece.

Know What You Have

If you think you have a very valuable piece, you may want to get a professional appraisal done by someone who is not looking to purchase your diamonds. This can be expensive, but it will let you know the real value of your jewelry. Therefore, you can be sure you to not be cheated by the dealer or individual you do sell it to. However, if your piece is most likely worth less than $200, you may be better off just getting estimates from multiple potential buyers or seeing if you can find the approximate value through research online.

While we think of diamonds as very expensive intrinsically, as well as older jewelry having more value, this isn’t always the case. The size, shape, and cut of the diamond, as well as its setting, will affect how much the piece is really worth. Even if you don’t get an appraisal, researching this type of information about your jewelry will give you at least a rough idea of the proper price range for the diamonds you’re looking to sell. Once you know that, you’ll know which dealers are reliable buyers for your diamond jewelry.