Selling your diamonds can be a daunting experience. You may be concerned about getting a fair price, or even where to sell. With over a century of experience, we’ve seen it all and we want to help you navigate the process. In this quick guide, we’ll give you a few tips for selling diamonds to empower you with the knowledge you need to get the best deal possible.
1) Work With A Seller Instead Of A Buyer
It might seem obvious, but there’s a pretty big distinction between a jewelry seller and a jewelry buyer. A seller’s aim is to sell. A buyer’s aim is to buy. Certified buyers appraise diamonds every day, which means they know exactly how to evaluate a piece of jewelry and its true worth. A buyer will have a private office in which your consultation can take place, rather than standing at a counter in a jewelry store where anyone might be privy to your personal details. This has the added benefit of allowing you time to ask as many questions you need to make sure you are getting the best deal. Something else you should consider is that sellers often don’t have enough cash on hand to offer you a truly fair price, unlike diamond buyers who have built their business model on buying.
2) Only Sell Diamonds Online to a Trusted Buyer
Selling online has become a very popular option, but it’s important to consider if you can trust your buyer. There’s no way for you to get a fair evaluation without the buyer seeing the piece, so when selling online, you either have to send the piece and trust they will evaluate it fairly, or accept a price before it actually gets evaluated. There’s also been some real horror stories from sketchy online diamond buyers – the worst story we’ve heard is a buyer altering the jewelry, such as by replacing a real gemstone with a fake, and then returning it under the premise that it wasn’t what they expected. To make sure your online buyer is a trustworthy one, look for their reviews and accreditations. If your buyer has positive reviews with accreditations from institutions like the GIA, the American Gem Society, and/or the AGA, then the buyer has been vetted and found to be trustworthy.
3) Don’t Accept An Offer Without Asking Questions
It’s totally understandable why you might be willing to sell, no questions asked. But we’re advocates of having as much information as possible so you’re truly informed on the process – and actually getting your value’s worth! Some great questions to ask about your diamond’s appraisal and the person appraising are:
- Do you have any references I can contact?
- How did you arrive at that valuation?
- Can you walk me through your evaluation process?
- If I take my jewelry to another certified buyer, will they give me a similar offer?
- Do you think that now is a good time to sell diamonds?
- If you bought my diamond, how much would you sell it for?
- Can I expect the valuation to change over the next few years?
- Can you tell me about the 4 C’s of my diamond and how they affected my offer?
A good diamond buyer will welcome your questions and answer them honestly and thoroughly.
4) Research The Diamond Buyer
Save yourself a headache by checking for the following things:
- Website: Does it look professional? Are there gemologists and certified jewelers on staff? Does it tell you exactly what to expect in selling a diamond to them?
- Reviews: What do customers have to say about the business? Have you checked them out on Google, Facebook, or even Yelp? Do they have a 4-star rating or above?
- Accreditation: What’s their rating on Better Business Bureau? Are there complaints about their business practices? Is their business associated with any organizations like the GIA or AGA?
- Word of mouth: Who do you know that has used that particular buyer before? What was their experience like? Did they offer any references you can contact?
5) Bring Documentation and Previous Appraisals
To ensure that you get what your diamond is worth, you should bring any and all documentation you have. This can include your receipt of purchase or certifications from GIA or AGS labs. If you’ve had your diamond appraised before, you should also bring the documentation for that, as it will give the buyer all the tools and details to give you the best possible offer.
Don’t have any documentation? Don’t stress! Most buyers will do an appraisal on site to determine your diamond’s worth, and at Samuelson’s, we’re fully prepared to give you an estimate whether or not you have your paperwork.
6) Trust Your Instincts
This one is perhaps the simplest, yet most commonly overlooked mistake people make: trust your instincts. If you feel uncomfortable or uneasy, walk away. Yes, it can be uncomfortable talking about price, but when it comes down to it, you deserve to be treated with respect. You should feel free to ask as many questions as you want to understand how a buyer determines their offer, and it’s natural to want to get the best price for your diamonds. It should be a conversation, not a sales maneuver or manipulation. So above all, trust your instincts.
Sell Your Diamonds With Confidence
At Samuelson’s Buyers, we offer private appointments to make sure you are treated with comfort, respect, and privacy. With multiple locations, here’s what you can expect when you sell with us:
- You’ll meet with our expert buyer in a private room where your piece will be examined, evaluated, and an offer will be made. Our commitment is to ensure you have a good experience throughout the process.
- We’re happy to answer all your questions and your diamond jewelry will never leave your sight.
- If we agree on a price, we’ll pay you right then and there!
Samuelson’s has been serving the Baltimore community since 1922, and we have built our reputation based on integrity, trust, and fairness. You deserve to feel confident about selling your valuables, and you should walk away feeling as though you were treated respectfully and fairly. You can rest assured that your experience selling with us will be a comfortable and easy one, and we hope these tips for selling diamonds help to ease your mind.
If you are interested in selling your diamond jewelry, contact us to request an appointment with one of our certified experts today!
