An Expert Guide on Selling Jewelry, and ” The Best Place to Sell Jewelry Near Me”
Including
Taking a personal Audit of your Jewelry & Your Selling Goals
Types of Jewelry and Values
Diamonds with Treatments and Value
Diamond Shapes and Value
Diamond Certificates and Value
Jewelry Brand and Value
Gold Jewelry and Value
Lab-Created Diamonds and Value
Common Questions of Jewelry Sellers
Across our publication, The Diamocycle Dispatch, we discuss the many places to sell diamond jewelry. Our family legacy in jewelry began in 1857, over 164 years ago. We take pride in giving you the advice we would provide a valued customer. In this installment of the Dispatch, we have created a guide to understanding where to sell jewelry and The best place to sell jewelry near me. The first step to selling jewelry begins with understanding your jewelry type and its value. Then, the appropriate selling method will be based on your time frame to sell and what kind of jewelry you have.
Taking a personal Audit of your Jewelry& Your Selling Goals
Should I sell my jewelry or keep it?
The choice to sell your jewelry or keep it is highly personal. Most people sell their jewelry to create funds and improve their quality of life. Alternatively, people inherit or are gifted jewelry they would not wear and want to monetize it. We advise that if you purchased the jewelry, you are unlikely to get the price you paid for it, as jewelry goes through many channels of markups.
How long can you wait to sell your jewelry?
Where you sell jewelry depends on how long you can wait to sell jewelry. You may need to sell today to create badly needed funds. We advise that the longer you can afford to wait in most instances, the more money you will receive. Taking a personal audit of your time frame to sell should be the first step and will help you determine where the best place to sell your jewelry is. Selling locally can mean cash today, but is that the best method? We believe we can help you sell your jewelry for more.
Should I sell my jewelry for cash?
While selling jewelry for cash locally might help you receive funds today, it is probably not the best method of selling jewelry worth more than $1000.00. This is because online buyers are likely to pay more than local jewelry buyers. If you have a piece of jewelry valued at over $1000.00, we recommend you never sell the item without multiple local offers and pursue offers online. Selling for cash in most instances could be far less than selling online.
Why do you need to understand what type of jewelry you have before selling it?
The first step to selling locally or online is auditing what you have. The best place to sell a piece of jewelry depends on the type of jewelry. You are unlikely to receive the highest amount from a local jewelry buyer. However, online buyers will have limited interest if your item is less than $500.00 in value. Online Marketplaces and Auctions also have minimums. So, determining what type of jewelry you have and its potential resale value will help determine where to best sell it.
Types of Jewelry and Values
Estate, Vintage, Antique Jewelry Value
If you suspect your jewelry is older, you may have a piece of antique jewelry. Sellers and collectors will pay more for jewelry from a noted era. So, the value can be greater than the value of the materials. Key giveaways are the style of your piece, the materials and quality used, and if it has an identifiable brand. Eras that command greater value for collectors are typically the following the Art Deco Era( 1915-1935), The Art Noveau Era ( 1890-1910), and The Georgian Era (1714-1837).
What is the difference between Vintage, Antique, and Estate Jewelry?
Estate Jewelry Defined
Estate Jewelry does not have to come from a person who has passed. It is a term used to describe jewelry with a previous owner. Jewelers often use it to describe jewelry 30 years or more in age.
Vintage Jewelry Defined
Vintage jewelry is commonly understood to be from 50 to 100 years old. However, the term could describe a newer piece from a distinct era like the 1980s. There are specific Eras with defined styles used to classify Vintage Jewelry. The Art Deco Era (1915-1935), The Retro Era (1935-1950), and The Modern Era (1950-the 1980s).
Antique Jewelry Defined
As a piece of jewelry passes the 100-year mark in age, it is an antique. However, often the lines can be blurred as an Art Deco piece could be referred to as Antique or Vintage, and the terms are used freely. The noted Antique Eras are The Georgian Era (1714-1837), The Edwardian Era (1871-1914), and The Art Nouveau Era (1890-1910).
Colored Stones Resale Value
Colored Stone value is based on origin, color, carat weight, clarity, cut grade, and treatments. Most of the value in a colored stone piece of jewelry is the largest center stone. In the United States, the foremost authority on gemstones is GIA. A colored stone report will help determine many of the qualities of your colored stone that will affect value. The cost for approximately a 2.0o ct colored stone is roughly $150.00. Another well-respected colored stone certificate is from Gueblin Laboratories and is considered the global standard in colored stone reports from Switzerland. Other well respected but lesser labs are (SSEF), (GRS), (GAAJ), (AIGS), and The Gem and Jewelry Institute of Thailand. If you are selling a valuable colored stone, a GIA certificate or Gueblin LAboraties certificate would be crucial to getting a fair market value for your jewelry piece. Any reputable auction selling your colored stone piece would advise or require it before the sale. Also, any expert dealer purchasing your colored stone item or marketplace cannot correctly market your item without a proper colored stone certificate. Most colored stone jewelry sold is of low commercial quality, has been treated, and is of relatively low value when resold. A Ruby, Emerald, or Saphire that is untreated, of desirable color, and origin can be very valuable, so determining what you have is the first step to selling your colored stone. A local sale for cash may be realistic if you have an inexpensive colored stone piece. However, if your colored stone jewelry is worth more than $1000, an online sale, auction sale, or marketplace transaction will yield a higher resale price. A critical giveaway that your newer colored stone is above commercial quality is if it was sold with a colored stone report.
Diamond Jewelry Value
The most significant indication of diamond jewelry value is the quality and size of the center stone of a piece. Other lesser indications of value are total carat weight and quality, Brand, age, and style.
The Centerstone matters most.
The center stone in diamond jewelry, like an engagement ring, matters most in determining the value.
The Brand Affects value.
A desirable luxury brand affects the resale value of a piece of jewelry significantly. Buyers are willing to pay a premium for diamond jewelry from luxury brands like Tiffany, Harry Winston, and Graff. Commercial quality jewelry from Kay Jewelers is not brand buyers will pay a premium for or has a value over the intrinsic value of the diamond used to make it. A good rule of thumb is if the buyer paid a premium for the Brand, they would receive a premium for the Brand when they sell it. We can compare this to luxury items like Chanel or Hermes handbags carrying a premium over a brand like Michael Kors.
Understand Diamond Earring Value
Diamond earring value is based on the value of each stone. Diamond earrings are often in lower clarity grades. They are usually sold without diamond certificates. More valuable diamond earrings are sold with diamond certificates. The most valuable earrings would be sold with a diamond certificate from a well-respected lab, ideally GIA. Lesser quality earrings may be sold with a less respected lab like EGL. Diamonds of the lowest clarity are often sold without a certificate. Diamond stud earrings are worth the intrinsic value of diamonds. If your earrings are composed of many smaller diamonds, the Brand and or age would be the next indication of value. A well-respected brand like Tiffany will have a greater resale value, and antique diamond earrings will have a greater resale value. Most commercial quality diamond earrings in the I2 or I3 quality will have a relatively low resale value.
Ring by Type and Resale Value
Diamond Engagement Rings Value
Diamond Center-Stone
The value of a diamond engagement ring is determined first and foremost by the center stone. Therefore, diamond buyers will evaluate the worth of your ring by the diamond center stone.
Diamond Setting
Modern pre-owned diamond settings depreciate significantly and have a relatively low resale value. Diamond settings that retain value are antique. Settings from well-known luxury brands like Graff, Harry Winston, and Tiffany will retain a portion of the retail value. However, diamond settings from retail chains like Kays are unlikely to maintain any value over the value of the materials.
Wedding Ring Value
Modern pre-owned wedding rings depreciate significantly and have a relatively low resale value. The markups include labor, marketing, and distribution resulting in a low resale value. A local diamond buyer will likely pay for the scrap value of the wedding ring. An online diamond buyer is interested in the diamond center stone and will pay the scrap value of the materials. A preowned marketplace for diamond rings is the best place to sell wedding rings to retail buyers looking for value.
Diamond Eternity Ring Value
Diamond eternity rings retain a more significant portion of their value than a wedding ring and engagement ring settings. Diamond eternity rings have a high markup, so a seller will likely get a fraction of the price they paid. Smaller diamonds in diamond eternity rings have a more significant markup in the diamond industry than the larger diamond center stones. As a result, the depreciation is higher. The likely depreciation on a diamond eternity ring is at least 70-80% of the retail price. The best way to sell a diamond eternity ring is through an online marketplace for pre-owned rings. Diamond eternity rings are hard to resize or impossible to resize, so this limits the pool of retail buyers.
Diamonds with Treatments and Value
Treated Diamonds Defined and Value vs. Natural Untreated Diamonds
Treated diamonds are diamonds that have undergone treatments to improve their appearance. The treated diamonds were initially lower in quality and therefore less valuable. It can be challenging to sell a treated diamond. If you have a treated diamond, selling it to a private buyer will be best. A friend or colleague, or a marketplace that accepts treated diamonds. Some auctions accept treated diamonds, which would be worth inquiring about online. A treated diamond is worth a fraction of a natural diamond price(1%-50%), depending on the nature of the treatment. It is difficult to compare a treated diamond to a natural diamond, so it is better to understand that the diamond had a meager value before its treatment. Unethical sellers often sell treated diamonds at a high markup to buyers who assume they are getting a deal. Common treatments are below.
Fracture Filling– Diamonds with open flaws are filled with glass to change their appearance. These diamonds are generally in the I2-I3 range, and the treatments cost about $175.00 per carat for the dealers. So, when selling a fracture-filled diamond, it is likely your diamond is in the I3 clarity range, and it will be regarded at this level by knowledgeable diamond buyers. However, only a small portion of expert diamond buyers will be interested in this type.
Laser Drilling-perhaps the least invasive form of treatment, your diamond will likely be considered in the I2 clarity range by professional diamond buyers.
Color Enhancements-A diamond’s color can be changed permanently through irradiation or temporally through the coating. Diamonds of undesirable colors are often turned blue through irradiation. Diamonds can be made more yellow through irradiation. Coatings can change a diamond to vivid pinks and other colors. These diamonds are low in value and are worth pennies on the dollar compared to a natural colored diamond. They can be tough to sell. Many diamond buyers do not wish to purchase treated colored diamonds. A private buyer or a marketplace that accepts them is an excellent place to start. Some auctions that accept jewelry will accept color-treated diamonds, but they will sell at a small fraction of the retail cost.
Diamond Shapes and Value
Diamond Pricing Explained.
The wholesale price is the price that a diamond dealer would sell to a jeweler. You could expect to pay 15-25% more online for a diamond and even more locally. If you sell for cash, you might receive 50% or less of this wholesale price, and if you sell in a marketplace for preowned diamonds, you might receive closer to the total wholesale price. An auction for diamonds might net you closer to 60% of the wholesale price before auction fees and perhaps 50% of the wholesale value, including auction fees. The prices below were as of o5-26-2022.
Oval Diamond Value vs. Round
Oval diamonds sell at a discount to round diamonds. Oval diamonds are one of the most popular shapes of diamonds right now, but trends change. The average price for a 1-carat oval diamond in g vs2 in the wholesale market is $4743.00. The average cost for a comparable round diamond is $7857.00. This varies weekly, but the pricing trends remain the same over time. (As of 05-26-2022)
Princess-Cut Diamond Value vs. Round Brilliant
Princess cut diamonds are the second most popular shape to round diamonds. Princess cut diamonds utilize a large portion of the diamond crystal with little waste. Round diamonds require a greater-sized piece of diamond rough to get a diamond of the same size. As a result, it is less expensive to produce a princess cut diamond than a round brilliant. The average wholesale price of a 1 ct princess cut diamond in g,vs2 is $3947.00. The average price for a comparable round diamond is $7857.00. This price varies weekly, but the pricing trends stay the same over time. (As of 05-26-2022)
Pear Shape Diamond Value vs. Round Brilliant
Pear shape diamonds are less popular but can trend based on a current style often popularized by a celebrity engagement ring or designer. The average wholesale price of a 1ct pear cut diamond in g,vs2 is $4987.00. The average price for a comparable round diamond is $7857.00. This price varies weekly, but the pricing trends stay the same over time. (As of 05-26-2022).
Cushion-Cut Diamond vs. Round Brilliant
The average wholesale price of a 1ct cushion cut diamond in g,vs2 is $ 3733.00. The average price for a comparable round diamond is $7857.00. This price varies weekly, but the pricing trends stay the same over time. It should be noted that this was taken from a smaller sample size(As of 05-26-2022).
Emerald-Cut Diamond Value vs. Round Brilliant
Emerald cut diamonds are most often in higher clarities and therefore tend to be high-quality diamonds. The average wholesale price for a 1-carat g vs2 emerald cut diamond is $4015.00. The average price for a comparable round diamond is $7857.00. This varies weekly, but the pricing trends remain the same over time.
Mine Cut Diamond Value vs. Round Brilliant
Mine cut diamonds were cut more than 100 years ago. Their prices can be higher than brilliant round diamonds or lower depending on who is selling them. Mine cut diamonds are scarce and possibly be more expensive if you need to replace one than a round brilliant cut. That said, an average price for a 1-carat g,vs2 mine cut of $3733.00. However, the seller can ask for whatever they want because of scarcity and demand. The average price for a comparable round diamond is $7857.00. There is a possibility in this segment for the diamond to exceed the price of the round brilliant. This is due to a lack of supply. The pricing model used was as of (05-22-2022).
Old European Cut Diamond Value vs. Round Brilliant
Old European diamonds were cut more than 1oo years ago. Their prices can be higher than round brilliants or lower depending on who is selling them. Dealers specializing in Old Europeans want a premium to modern round brilliant cut diamonds. At the same time, other sellers may accept a discount on a round brilliant diamond. However, because of scarcity, a seller can ask what they want. The average price for a 1 ct g,vs2. Old European is $4896.00. However, this price is very subjective based on the seller. The average price for a comparable round diamond is $7857.00. This varies weekly, but the pricing trends remain the same over time. There is a possibility in this segment for the diamond to exceed the price of the round brilliant. This is due to a lack of supply. The pricing model used was as of (05-22-2022).
Diamond Certificates and Value
An Example used below is for a 1.00 ct gvs2 round brilliant diamond. This is for the wholesale value. When you sell a diamond for cash, you can expect about 30-50% of this value. When you sell at an auction, it may be possible to get 60%, and when you sell in a marketplace for preowned diamonds, it is possible to get close to this price.
Sample 1.00 ct G, V2 Round Brilliant Avg Pricing as of (05-26-2022)
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GIA Certified Diamond Value=$7857.00
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EGL USA Certified Diamond Value =$5286.00
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AGS Certified Diamond Value =$7068.00
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EGL International Diamond Value =$3940.00
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IGI Diamond Value $6021.00
Jewelry Brand and Value
Important Jewelry Houses Value
Jewelry brands that collectors or buyers pay a premium over the cost intrinsic value of the precious metals and jewels are the following. (Harry Winston, Cartier, Graff, Tiffany, Buccellati, Boucheron, David Yurman, Chopard, Van Cleef& Arpels, Bvlgari)
Commercial Jewelry Value
Commercial jewelry will be from brands like Kay’s, Neil Lane, and Jared. These brands will not carry a premium over the materials’ value when sold.
Gold Jewelry and Value
What is gold jewelry worth more than the gold value answered?
Gold jewelry that is vintage, antique or one of the important jewelry houses above should never be refined. It has a value to collectors worth more than the value of the gold or precious metals.
Understanding gold-filled jewelry.
Gold-filled jewelry is often marketed as 1/20 14kt or 1/20 10kt. The value as of 05/22/2022 for 1 gram of 14kt gold was $33.00, so the value for 1/20th gold filled would be $1.65. For 10k, the value per gram as of 05/22/2022 is $23.92. The value for 1/20 10kt is $1.20. Gold-filled antique jewelry is often worth more than the intrinsic value of the gold. A gold refinery will not accept a small amount of gold-filled jewelry.
Should I scrap my gold jewelry, and how do I know if I am getting a fair price?
If you decide to scrap your jewelry, we recommend you weigh it first.
Determine the gram weight and then reference the price for gold per gram through a google search. For example, a refinery charges a jeweler about 2% to refine gold. A very competitive price would be to receive 75-85% of the gold value. Anything less than 75% is not competitive. A local seller could be reasonably competitive for gold, but a well-rated internet seller might give you a better price if you have more gold to sell.
Lab-Created Diamonds and Value
Unfortunately, if you have a lab-created diamond to sell, the value is pennies on the dollar compared to a natural diamond. Therefore, most professional diamond buyers do not purchase lab-created diamonds. However, some online marketplace allows the listing of lab-created diamonds. In addition, some non-specific jewelry auctions will enable the sale of lab-created diamonds. As a result, you can expect to receive a fraction of the retail price paid for a lab-created diamond.
Common Questions of Jewelry Sellers
Do I need a Jewelry Appraisal to Sell?
If you decide to sell your jewelry to a private party or online through a marketplace, a jewelry appraisal can help you sell. If you sell your jewelry in person to a diamond buyer, a jewelry appraisal will be of little value. We recommend that you make more money selling your jewelry online than locally. If you decide to sell with an auction, an auction may ask to see if you have an appraisal but will likely not use it to sell. If your diamond engagement ring is antique, then unmounting the diamond may be impossible. In this case, a diamond appraisal by a GIA-trained gemologist would be the next step in helping you sell your ring. While you are unlikely to get the value stated on the appraisal, it will provide buyers with an added level of comfort that your ring has been inspected. Diamond buyers will need to see your diamond center stone to make a final offer, but marketplaces will accept your listing with a diamond appraisal. For our guide to diamonds, appraisals start here. https://www.diamocycle.com/a-guide-to-diamond-appraisals
If you are selling your diamond to a local diamond buyer for cash or an online to an overnight diamond buyer, a diamond appraisal may not be required, but a buyer is unlikely to provide prepaid shipping if they cannot verify your engagement ring is real. A bill of sale could be helpful in this instance and could be used to list your diamond engagement ring on a marketplace.
Do I need a diamond certificate to sell?
A diamond certificate is very helpful in getting cash offers from local buyers and overnight buyers online. It will also benefit listing your diamond online with a marketplace for pre-owned jewelry. A GIA diamond certificate enables buyers to understand your diamond center stone and provide you with a bid. A diamond certificate from another grading agency will also help buyers, but lesser strict grading standards will be less helpful to buyers in making an offer. Diamonds without a certificate will need to be inspected, and a seller should consider getting a diamond certificate if they are selling a diamond over 1 carat, or $1000.oo in value. GIA is the gold standard in diamond certificates. Your diamond will have to be removed from its setting by a jeweler.
Should I sell my diamond loose or mounted?
If you are selling your diamond to a reseller, most but not all of them would prefer to buy your diamond loose. However, if you sell to a private party or on a marketplace for preowned jewelry, you will have the best look if your diamond is mounted. The caveat is that the ring is in good condition and has a desirable style.
Should I have my jewelry repaired before selling it?
If you sell to a reseller, you do not need to repair your ring. However, repairing or polishing your ring can be helpful if you sell to a private party or in an online marketplace. At the very least, clean it before taking photos.
What are the best places to sell jewelry near me?
If you sell jewelry locally, avoid pawn shops and cash for gold stores. Instead, seek a specialized seller with a market for the item you are selling. Try and get multiple offers. The best place to sell your jewelry is likely online and not locally.
How to get offers for my jewelry?
Google will be the first starting point for local offers and the next place to look for online diamond offers. Listing your jewelry in an online marketplace can get you more money. Specifically, you can submit a listing here if you have diamond jewelry. https://www.diamocycle.com/sell-a-diamond
How to avoid getting scammed selling jewelry?
We believe the best way not to get scammed selling jewelry is to sell with an online vetted marketplace. We have one. Please read our seller’s guide here. https://www.diamocycle.com/sellers-guide
What is the best place to sell online?
We believe a diamond marketplace for pre-owned jewelry is the best place to sell your jewelry online. The best place to sell jewelry online is with Diamocycle. We accept diamond jewelry here. https://www.diamocycle.com/sell-a-diamond.