Nov 12, 2013 12:48 pm
They say diamonds are a girl’s best friend. This may be true, but everything changes when your dining table turns into an ever-growing mountain of bills and debts. Luckily, diamond selling is comparable to the lucrative gold buying industry. There is no question that diamonds are literally and financially one of the most solid investments you can make. However, before you rush out to your nearest dealer it is imperative that you do sufficient research beforehand.
Before you venture into the streets of Manhattan or Brooklyn, it’s a good idea to read online reviews of various businesses. On sites such as Google and Yelp, consumers can write their own experiences with various jewelry buying businesses. While there are nitpickers, it’s a good idea to steer clear of places that have overwhelmingly negative feedback.
The Gold Rush put Canada’s Yukon territory on the map. Now, you don’t have to venture through uncharted territory with your entire life in a duffel bag to strike it rich. The best opportunities are in your own backyard. Whether you live in Jersey City, Long Island, Brooklyn, Manhattan, or the far flung leady suburbs, the Diamond rush will never end. This is because prices for diamonds have fluctuated by almost half their initial value within the period of only one year.
It’s understandable that people have emotional detachment to their diamond jewelry. However, consumers should recognize that this usually contributes to inflated value and expectations for what they can actually fetch on today’s market. Many people fail at selling their jewelry because they price it too high; it’s that simple. An appraiser will give you an objective analysis of the stone’s quality. While the carat and condition of the diamond is very important; the overall aesthetic has a huge influence on the desirability of used jewelry.
Almost everyone knows what it’s like to be cash-strapped. This past decade has truly been an economic and emotional roller coaster in many respects. Contrary to popular belief, brokers can help you if you’re broke! In order to generate more business, pawnbrokers and a plethora of other gold and diamond buying businesses will offer free evaluations of your jewelry to determine what you can get on the free market. While this may not be as in-depth as a professional appraiser it can help you with your selling strategy so that you can fetch the compensation you deserve. If you believe your diamond jewelry is worth less than $2500, it’s highly recommended to consider taking this approach.
Even if you are not well-versed or lack connections to the jewelry selling industry, there are lots of basic rules of thumbs that can steer you in the right direction. Comparison window shopping is a very effective strategy, specifically when it includes storefronts and browser tabs. In other words, it’s important to compare the prices of diamond jewelry in local pawnshops and jewelry dealers and compare it to what’s being listed on websites such as eBay and Craigslist. This is because the pricing discrepancy between online and local used jewelry is constantly shifting.