Diamond Answer Man Episode 9 – What to do when you want to sell!

What if you want to sell?

There are many  reasons for you to sell  unwanted diamonds or pieces of jewelry. Diamonds and jewelry that  have no positive emotional value or history may be a reasonable source of expendable cash. But, how do you go about selling the item?

First you need to do a little research, which means that you are going to have to get out from behind your computer and meet a few people.

Here are a couple things I am going to clarify for you here on www.diamondanswerman.com  so that you can go in with reasonable expectations when selling.

Appraisals:

Appraisals/Valuations are for insurance replacement and they should reflect a new replacement price at or near your actual purchase price.   An appraisal  is not a tool or a figure for estimating your liquidation/resale value. For your comfort you may purchase a liquidation valuation to receive a base line to work up from. I only suggest you get an appraisal when you are going to act as the seller to another consumer  in order to  help you with  identifying the characteristics, building your buyers confidence and comfort. You don’t need one when you are visiting with business that specialize in diamonds and jewelry buying but, it doesn’t hurt .

Value:

You have an item that is previously owned or worn which means it is no longer new- even if it is mint new in box , it is still previously owned and will return less than your purchase price. Jewelry and diamonds that return at, or above the original purchase price are items of provenance. For example, items worn by someone famous, made by a specialty designer, or during a special era. Other items that don’t necessarily have provenance can still garner a better amount if they are high demand brands such as Cartier,Tiffany, Harry Winston and the like.

Now that you understand that I  believe you have 5 different avenues to take.

So what are your avenues?

* Sell it yourself on:

* Ebay-be ready to invest-

* Time

* Money

* Trust Building

* Appraisal

* Lab Report

* Lots of communication

* Its going to be a hard sale!

* You need to develop you ability to garner trust!

* Communication and conversation

* Meet In Person

* Lower your price to meet the favorable risk balance factor.

*

* Craigslist-all of the above plus-

* Where are you going to meet?

* How are you going to get paid

* Friends

* Selling to your friends – May return better than any other situation

but it will be a tough sale.

* Still at a discount vs the original purchase.

* How much depends on the willingness of the friend.

* Family

* Family may also be willing to buy and you might get a good

return.

* Businesses that buy, sell, or auction:

* Liquidators

* Estate Dealers

* Jewelers

* Auction houses

Besides working for two diamond polishing facilities – I’ve also had the pleasure of working on liquidations and estates with a focus on Diamonds. You see, I’ve met just about every type of person possible at one time or another wanting or needing to sell a diamond, gemstone, watch or other precious collectible. I firmly believe that you should only do business with an individual willing to be completely transparent! Yes, should include the estimation or should I say the difference from what they will pay you and what they will make. I think it’s possible to calculate most estimations either on the spot or on larger valued items like a 3ct. Diamond – within a working business day or so. Some things are quick and others a little more intensive ̵...