Imagine cleaning out your closet and finding a stash of jewelry you forgot you had. You never wear any of the pieces, so you decide to look into where to sell diamonds.
Then, you can keep the jewelry from taking up space, and you can get a bit of cash. Be sure to look into a few options and decide which path is right for you.
Read on to learn more.
Jewelry Buyers
One of the best places to sell diamonds is to a jewelry buyer. You can find some buyers online, but there might be a buyer in your local area that you can visit in person.
Either way, selling to a jewelry buyer is usually pretty easy, and you can get a good deal. They may list your diamonds on consignment, so they’ll do the selling work, and you’ll get a commission.
This is a nice choice for selling the biggest diamond possible from your collection. You probably don’t want to risk losing it or shipping it, so taking it to a local jewelry buyer is a great solution.
Be sure to ask about consignment and commission rates. Then, you can sell diamond jewelry at a place where you can get a bigger profit.
Friends and Family
Another option to consider when choosing where to sell diamonds is to ask friends and family. If you know someone’s getting engaged, for example, you can ask if they want to buy your old engagement ring.
You could also offer up your jewelry around the holidays or someone’s birthday. Then, you can negotiate a fair rate, and you’ll know the diamonds are going to a good home.
Of course, you may also be able to meet up in person, assuming you live in the same city. That can save you money on shipping, and you won’t have to stress about the courier losing the diamond.
Just make sure you sell your diamonds to the right friend or relative. You don’t want the sale to come between you and cause problems or drama.
Direct Marketplaces
You may also choose to sell diamond jewelry directly to a stranger. Marketplaces such as eBay, Craigslist, and Facebook help sellers connect with buyers.
You’ll be able to set your price, and you can restrict the sale to local pickup or offer to ship the items. If you use eBay, you can even put up the diamonds for auction and sell them to the highest bidder.
That can be an easy way to get more money without having to do a ton of work. It’s especially easy if your diamond is quite valuable since that can drive more interest and bids.
Pawnshops
If you’re looking for where to sell diamonds quickly, you might consider local pawnshops. Unfortunately, you probably won’t get the best deal from a pawnshop since they want to sell the diamonds for cheap.
However, it’s worth it if the diamonds have been collecting dust in your home. If you don’t want to keep them around, you may not care as much about how much money you can make.
Taking diamonds to a pawnshop can be good if they’re from a past relationship, for example. You may want to remove all memories of the relationship from your home.
Pawnshops will take almost anything you bring to them as well. So the diamond doesn’t have to be in perfect condition to sell.
Estate Sale
Maybe you’re looking to sell diamonds as you downsize or diamonds that your parents owned. If you already need to run an estate sale, it makes sense to include the diamond rings or necklaces.
Jewelry items are some of the best sellers at estate sales. You may need to be willing to negotiate with buyers, but you can price the diamonds accordingly.
That way, you have wiggle room if someone wants to pay less than your asking price. However, you might luck out and get a buyer who’s willing to pay the full price.
Of course, you shouldn’t go out of your way to have an estate sale simply to sell diamonds. If you already need to have one, though, it can be a nice way to sell your old jewelry.
A Barter
Consider if you need to buy anything that’s about the value of your diamonds you want to sell. If so, you can ask another person if they’re willing to barter.
That way, you can exchange the diamonds for something, such as a new car. This can be difficult because you need to search for someone who’s willing to make an exchange rather than take cash.
You also have to find something that’s a similar value or be willing to pay a little extra in cash to make up the difference. However, you won’t have to deal with selling the diamonds and buying a car, for example, in multiple transactions.
Bartering may not be common anymore, but it’s still useful. Just make sure you get an appraisal on your diamonds first so that you know about how much they’re worth.
Gemology School
If you have loose diamonds, you may want to contact a local gemology school. They could buy your diamonds and have their students inspect and clean them.
Alternatively, you might want to contact gemology students directly. Some might jump at the chance to buy diamonds that they can look at in their studies.
Of course, you may need to ship your diamonds if you don’t live near a gemology school. You also might not be able to get as good of a sale price as if you sold the diamonds elsewhere.
But maybe you want to help the next generation of gemologists to master their craft. Selling to a school or student is an excellent way to do that.
Do You Know Where to Sell Diamonds?
Deciding where to sell diamonds can make or break the sale. Fortunately, you have multiple options, but not all places will offer as good of a purchase price.
Be sure to consider jewelry buyers, family, and marketplaces. If you don’t care as much about the sale price, you could also look into pawnshops or gemology schools.
Did you enjoy this article? Check out our blog for more content.