Tips on Reselling Your Diamonds
There are many reasons
why you may be looking to sell your diamond back to a
jeweler.
Maybe you have had the
same diamond for 15 years and you are ready to trade it
in and upgrade to a larger better quality option. Times
could be tough with the current recession and you may be
just searching for quick cash options. Maybe you
inherited some diamond jewelry and you will be using to
pay off current debts. Or unfortunately, you could be
divorced and want to relieve yourself of all the old
memories.
No matter what the
reason, let’s talk about what to expect when selling
your diamonds back to a jeweler or pawn shop.
First, understand that
there are thousands of people selling their diamonds
just as you are. Jewelers and pawn shops see anywhere
from 20-100 diamonds a day from consumers looking to
sell them back for different reasons.
Second, expect to get
60% less cash back than what you originally paid for the
diamond. In order for the jeweler to make it worthwhile
to help you out he must make a purchase at wholesale or
below wholesale pricing. He may purchase the diamond
back from you and it is very likely that it could sit in
his inventory for another 2-3 years before it is resold.
 Third, be ready to talk
about trade in options. For many, they upgrade their
diamonds just as many times as the upgrade their Honda
Accord. It is possible to get more value for your
current diamond if you trade it in and purchase a larger
diamond. Ask for these options when you bring it in to
be evaluated.
Fourth, bring the
certificate that came with your original diamond
purchase. Your diamond is more valuable if it is
already certified and if you bring in the certificate.
This will make it easier for the jeweler to make an
offer for your diamond.
Fifth, have a number in
your mind that you would like to receive for your
diamond and if you have time don’t be afraid to shop
around to 2-3 places. Keep in mind, an offer may change
if you come back to the same jeweler at a later date.
In conclusion, diamonds
will always equate into cash. It can be a great option
to sell your diamonds and jewelry if you are short on
cash but be prepared before you get offers. I hope
you don’t have to sell your diamonds out of need but
rather because you would like to upgrade to a bigger and
better diamond.
~Courtesy of Brian Plante
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