5 Points to Consider When Selling Your Diamonds
1) Shop for a reputable diamond buyer. Most people have no idea what their jewelry is worth when selling, which makes it difficult for you to judge a fair value. Speak to different buyers and get multiple offers. If you explore a “mail in” cash-for-diamond service, make sure they are an established business with a history of good service and happy customers.
2) Understand what drives the value of a diamond. The condition of the diamond is very important because chips and nicks could depress the value of the stone. Size plays a major role in value because a single big diamond is worth carat for carat more than lots of smaller diamonds. Styles change and old style shapes like miner’s cuts aren’t as valuable as today’s popular diamond shapes. A famous designer’s signature or mark, such as Cartier or Tiffany, can greatly increase the value of the piece. Of course, the more gold, silver or platinum weight in the piece, the higher the value as well.
3) Sentiment doesn’t pay. Unfortunately, no one but you or your family will appreciate any sentimental value of your diamond. So if you don’t think an offer on a diamond is adequate, considering keeping it in your family. No one will ever pay you enough for that sentimental value.
4) Appraisal values are very different than cash offers you will likely receive. Written appraisals are formal documents from a jeweler which are used by insurance companies to value and replace a new item. However, a cash offer is how much someone will pay for your piece in its current condition and it is often much lower than the appraised value.
5) Paperwork and supporting documents can help you maximize the offer. You don’t need an appraisal to sell a piece of jewelry but the information on the appraisal can help inform the purchaser and potentially raise the offer price. Original receipts are a big plus and certifications from gemological laboratories (such the GIA and AGTA) can take some of the subjectivity out of the discussion. In other words, they help move you from “what is this?” to “what will you offer me?”
6) Don’t get pressured to make a quick decision. For most people, saying goodbye to a diamond is a deeply personal decision. If you need a few days to think about it, you should be given that opportunity. Be wary of buyers who try to pressure you. You need to make the right decision and it’s your decision.
At Tiquehunter Antiques, Jewelry and Coin, we are a reputable diamond buyer located in Upstate New York. We carry all types of Antique & Estate Diamond Jewelry from all periods, including signed and unsigned pieces. Our wide, diversified selection contains small to large carat loose diamonds, as well as a large assortment of Estate Diamond Engagement Rings.