If you would like to sell your diamond jewelry, you need to proceed with extra caution. There are several selling strategies available at your fingertips, but first you need to get an expert appraisal. You may know approximately what is the value of your diamond, but the market fluctuates constantly and you need to find out its current market value. Once you know the value of your diamond, you can proceed selling it/ marketing it through several channels.
Selling your diamond through an auction by a jeweler
This is quite a popular selling strategy, and you can have peace of mind that your diamond sale is actually supervised by an expert in the industry. As a first step, you should look for a highly reputable jeweler that has a showroom and organizes such auctions for customers. Your diamond jewelry will be marketed and presented to clients in the best and most professional light, so your chances of selling at the best value are high.
One piece of advice; if you have got diamond jewelry that has an eccentric, less usual model it will sell very well through an auction. On the other hand, if your diamond jewelry is more of a classic type, it will sell much quicker and better through online jewelry portals rather than at auctions.
Selling you diamond through direct retail
This simply means you are selling your diamond jewelry directly to the client, through a dedicated web portal. You can enlist your diamond jewelry anywhere you wish, on sites such as Craigslist, Amazon, eBay, etc. When selling through direct retail you need to be extremely careful, and ensure that you avoid any scams (such as shipping your jewelry ahead and waiting for payment!). The entire transaction needs to be safe and secure for both seller and buyer.
Also, when selling through direct retail you must know very well the value of your diamonds. When you take it to the jeweler he will let you know the estimate selling price so that you can avoid the pitfalls of underselling a valuable diamond. Few more important tips:
- When listing your jewelry online don’t use scam sounding marketing strategies such as: “appraised at $5,000, will sell it for only $2,000”. Nobody actually ‘buys’ such marketing tricks nowadays.
- Set your minimum price, and don’t accept negotiations if you know you don’t want to sell below that threshold
- Use the bidding option if you want to, but always set the minimum cost and don’t go below that. Bidding will attract more interested people, and you may eventually sell your diamond for more than its real market value if you are lucky
If you are looking for immediate payment…
Then sell to a dealer. If you are desperate to sell your diamond quickly because you are in need of cash, and you don’t have the time to enlist it on portals, then a dealer may be the solution. However, don’t let people take advantage of your desperate need to sell quickly. They will try to offer you lower cash amounts, in the hope that you will accept exactly because you need to sell fast. Never sell your diamonds for less than their actual worth!