Wondering Where to Sell Diamonds? Here are 3 Great Options
Unlike collectibles, coins or bullion, selling diamonds to the right buyer can be somewhat difficult. Knowing where to sell diamonds is only half the battle since the amount you get for your jewels can vary from business to business. These three options are generally your best bet for getting the most out of your jewelry or loose stones:
An auction can be where to sell diamonds if you are willing to take a risk. The type of jewelry that brings the most money at auction tend to be very high quality pieces. Even then, they may not even come close to actual market value. On top of everything, the auctioneer will take their cut, which can range from 5-20% of the final selling price. In addition, you:
- May have to wait days or weeks for your money.
- May not be able to set a reserve price.
- Cannot stop the sale if it sells for very little.
Selling your diamonds or diamond jewelry at a pawn shop can give you fast access to cash, but you will likely receive far less money than you would with any other option. Pawn shops are only in the jewelry business out of necessity, meaning they deal with all kinds of different merchandise, some of which may barely be profitable. To make up for the lack of profitability in some sectors, they will squeeze as much as they can out of items such as jewelry, starting with offering you as little as possible.
A jewelry broker will likely give you top dollar for your diamonds or other jewelry because they need to keep inventory levels relatively high. The type of client who will purchase jewelry from a store or broker will want something nice, yet affordable. Your jewelry will be assessed in terms of both quality and marketability. It does not necessarily have to be the fanciest piece in order to fetch top dollar since there is likely a market for anything you want to sell.
Those who have been in the diamond business for a long time tend to give you the best rates. Ralph Mueller has the experience necessary to put together a reasonable offer for you precisely because his team knows how to market and sell them once they get into the showroom.