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Do You Make These 5 Mistakes When Selling Diamonds?

May 28, 2021

Five Mistakes You Can Make When Selling Diamonds

We’ve been buying diamonds since 1922, which means we’ve seen the most common mistakes people make when they go to sell their valuables. If you have a loose stone or a piece of diamond jewelry that you’re looking to sell, here are a few things you can do to make sure you get the best deal possible. 

  1. Working 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. 

  1. Turning To An Online Buyer

The biggest factor in selling online is that you have to trust the buyer is operating in good faith. There’s no way for you to get a fair evaluation without the buyer seeing the piece, which means 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 this route – 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. So not only are you out the money you expected to receive, you’re also out the value of the valuable itself. 

  1. Accepting An Offer Without Asking Questions

An offer that comes in higher than expected is awesome! And it’s totally understandable why you might be willing to sell, no questions asked. 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 consider asking are:

  • 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?

A good diamond buyer will welcome your questions and answer them honestly and thoroughly. 

  1. Not Researching 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? 
  • Accreditation: what’s their rating on Better Business Bureau? Are there complaints about their business practices? 
  • Word of mouth: Who do you know that has used that particular buyer before? What was their experience like?
  1. Not Trusting Your Instincts

This one is perhaps the simplest, yet most commonly overlooked mistake people make when selling diamonds: 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. It should be a conversation, not a sales maneuver. So above all, trust your instincts. 

At Samuelson’s Buyers, we only offer private appointments to make sure you are treated with comfort, respect, and privacy. With three locations, here’s what you can expect from us:

  • Our receptionist will greet you on the day of your appointment and offer you a beverage.
  • You’ll meet with our 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 jewelry will never leave your sight.
  • If we agree on the 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. We want you to feel confident about selling your valuables, and we want you to walk away feeling as though you were treated respectfully and fairly. 

If you are interested in selling your jewelry, contact us to request an appointment with one of our certified experts today!

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