Selling A Diamond Engagement Ring? | Learn Where To Sell
How to Sell Diamond Jewelry Online
Many people want to sell diamond jewelry online. Most often they want to sell diamond rings from broken engagements or marriages that ended in divorce. Some have inherited diamond jewelry from relatives. If you have diamond jewelry you want to sell, there are some important tips to keep in mind so that you have the most positive experience possible.
Learning about the Gemstone
Get an accurate picture of your gemstone.An expert appraiser can tell you the quality and value of the diamond.
- Find an expert appraiser in your area by contacting a national appraisal association. Some associations to try are the Accredited Gemologists Association (AGA), American Gem Society, or National Association of Jewelry Appraisers.
- You can find an association online or in your local phone book.
- Some associations are active only in certain countries. For example, the Accredited Gemologists Association is only available in the United States.
- You may need to pay an appraisal fee.
- There is no set fee structure for appraisals so make sure you ask how much you will be charged before consenting to the appraisal.
- The appraiser will need to see the jewelry in person.
- It takes 15-20 minutes to examine the jewelry but can take 1-2 weeks for the appraisal documentation to be prepared as the appraiser will research comparable jewelry and check the current prices of diamonds and precious metals.
Know how diamonds are evaluated.There are many factors that go into valuing a diamond. These factors are known as the Four C’s.
- Clarity refers to how clear a diamond is.Diamonds with no flaws are more valuable.
- Cut refers to the diamond's shape, proportions, symmetry and polish.The cut, along with the other factors, impacts the value of the diamond.
- Color can drastically influence the price of a diamond.Some colored diamonds (pink, blue, yellow) are highly valued but a white diamond with a yellow tint will be less valuable than one that is colorless.
- Carat refers to the size of the diamond.Larger diamonds, especially those over 1 carat, are more expensive.
Get the diamond certified.Certification will give the buyer peace of mind that they are getting what is being advertised.
- GIA (Gemological Institute of America) is a non-profit research institute that offers unbiased gem evaluations. They are highly regarded in the industry.
- AGS (American Gem Society) is also highly regarded and may offer a higher valuation than GIA.
- EGL (European Gemological Laboratory) is a for-profit organization that evaluates diamonds in Europe as well as the United States.
- Because the EGL is for-profit, some industry professionals question the validity of their valuations.
- You will need to send the jewelry via mail to one of these organizations.
- Be sure to fill out any online forms the organization requires.
- The cost of certification is based on size of diamond. Larger diamonds will cost more to certify.
- Be aware that it can take up to 2 weeks to receive the certification report.
Deciding How and to Whom to Sell
Do research to sell online safely.Be sure to protect yourself from fraud.
- Use a secure computer to set up the online account. Do not use the free WiFi at a public place such as a coffee shop as it is easy to hack into your computer at these places.
- Chose a reputable site, such as eBay, that provides some protections against fraud.
- Consider using a service such as PayPal for added protection.
- Use a company that specializes in buying diamonds and diamond jewelry online such as Worthy.comor W.P. Diamonds.
- Research any company you are considering by contacting the Better Business Bureau and looking at online reviews.
- Avoid any company that offers only vague information about their business or that you cannot find information about (such as reviews) online.
- If you have a negative feeling about a potential buyer, do not sell to them.
Consider reselling to the jewelry industry.You can sell to a jeweler, diamond dealer or pawnbroker.
- This is the best option for those who want to sell diamonds quickly without much hassle.
- The downside to selling to an industry insider is that you will probably make only a small percentage of the value of the diamond.
- Professionals will want to resell and make profit from your stone.
- Professionals also have access to wholesale diamond dealers who can offer low priced diamonds, making them less likely to pay top dollar for yours.
- Pawnbrokers, dealers and jewelers in your area can easily be found online and in the phone book.
- Be sure to check out their reputation by contacting the Better Business Bureau.
- You may also find reviews of their company online or ask family and friends if they have any recommendations.
Sell online to the public.You may be able to get a higher price from the general public than an industry professional.
- The general public is more likely to pay a higher price as they are not worried about making a profit on resale.
- It can be difficult to find a reputable buyer online.
- To make sure a buyer is reputable and serious, you may want to speak to them on the phone before confirming the sale or sending the jewelry.
- Selling to someone in your area, who you will meet in person, is a good way to avoid being scammed. However, use common sense and do not meet the person alone or in your home.
- Use a company such as Worthy.com which will help you market and auction your jewelry to the public.
- Know whether a site will take a percentage of the sale price.
Finalizing the Sale
Close the sale once you find a potential buyer.Receive payment and ship the jewelry.
- Remember that the main reason for someone to purchase "used" jewelry is to pay less. You should not expect to get what you paid for the jewelry.
- Comparable jewelry sold online will tell you how much you can expect to charge. Use the comparables when negotiating.
- Make sure you receive payment before shipping the jewelry.
- There are many options for receiving payment, including PayPal, Google Wallet and Amazon Payments.
- Be aware that online payment companies charge a fee, which varies by company.
Package and send the jewelry.Securely send the jewelry to the buyer.
- Use the U.S. Postal Service (USPS) to ship the jewelry. Send via First Class Mail with Insurance for protection against damage or loss.
- Another option is to use the Federal Express Jewelry Shipping Program for security and speed of delivery.
- Use a nondescript box for shipping that does not reveal the contents.
- Use packaging materials such as bubble wrap to cushion the jewelry.
- Double-box for added protection. For example, put your jewelry box inside a FedEx or USPS box.
- Do not ship jewelry in an envelope.
QuestionCan I sell from India?wikiHow ContributorCommunity AnswerSelling objects does not matter on your location. You can sell diamond jewelry from India, as well as many other places.Thanks!
- Use common sense when selling online.
- Don’t use your personal email address.
- Don’t reveal personal information (home/business address, Social Security number, banking information).
- Do not let sentimental value influence how you price the jewelry. Use the expert appraisal and comparables to determine a price, not your emotional attachment.
Video: How to Sell a Diamond Engagement Ring Online in 5 Easy Steps
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