Knowing Where To Sell Your Old Diamonds

When you have old diamonds that you want to sell, you need to evaluate your options. You need to carefully consider where you are going to be selling your diamonds and how much you are going to get. You will generally have 2 options available when it comes to selling and they are selling to the jewelry industry or selling to the public.

Selling To The Jewelry Industry

When you are looking to sell your diamonds, you should consider selling to the jewelry industry first. The primary benefit of this will be the amount of time it takes to sell the diamonds. If you want to sell your diamonds quickly, you need to go to a jeweler, a diamond dealer or a pawnbroker. The most important factor when choosing who to sell to in this industry is trust.

You need to choose a buyer that you can trust and the best place to start with checking this is the Better Business Bureau. You should also consider looking for someone that is a member of the American Gem Society. They will have to adhere to ethical practices that will make them more trustworthy.

The primary issue that people have with to the get jewlery repaired is that you are not going to get the best price. This is particularly true if you are looking for a fast sale. People in the jewelry industry are going to be looking at the profits that they can make from your diamonds and will very rarely offer you anything close to retail value.

Selling To The Public

When you sell to the public, you are generally going to get more for your diamonds. Of course, this is not always the case because the average buyer will be looking to save on their diamond purchase. The hardest part of selling the public is actually finding a buyer.

Classified adverts can give you some success, but you will have to filter through the potential buyers. You could have a lot of time wasters and people who are not actually interested in the diamonds. You can look at auction sites like eBay and you will find success if you have previous experience selling with them.

If you are selling to the public, you do not have to do this yourself. You could give your diamonds to a dealer or a consignment shop and they will sell it for you. Of course, they are going to take a commission from the sale and this could be up to 40%.