Selling jewelries, for someone who doesn't sell jewelries as a day job, can be an extremely frustrating experience. Without the right connections, experience and knowledge, it's difficult to determine if buyer appraisals are fair. It certainly adds uneasiness even if the item is already sold since there are plenty of what ifs going on in the sellers mind. Particularly the nagging thought of passing up the opportunity to sell the item for more. Fortunately, one doesn't have to read up on engagement ring styles guide or precious stone appraisal parameters just to get a good price. In fact, even selling it to a local jeweler can be a good idea as long as the seller understands the trade-off of the method of selling. Here are some of the most common ways to sell a diamond ring and other valuable trinkets.
1. Pawnshop and local jewelers.
Right off the bat, even people who have no experience in selling valuables understand that pawnshops and jewelry stores buy items for cheap. Sure, there are some who might have bigger appraisals than the rest. But let's be honest here, selling jewelries to a pawn shop isn't a good way to make the most money out of a jewelry. What these shops have to offer, however, is convenience. For some people, the trade-off of having sold their item for less in exchange for their time is worth it. Of course, this usually applies to busy people who are making a lot of money for every hour they put into work. Other than that, it's not really practical.
2. Auction houses.
Selling jewelries to an auction house is a great way to get the best value for an item. Jewelry or otherwise. The very job of auctioneers is to sell items as high on the price tag as possible. They're not afraid to test the waters and go beyond that actual value of an item during bidding. Of course, this doesn't always go as planned and in cases where the auctioneer isn't experienced or reliable, the item might not even rack up the same amount as that of a pawn shop's. It's a risk, but apparently a lot of jewelry owners are willing to take that risk. Oh, and not to mention that regardless whether the item sold high or low, auctioneers get their cut of the sale. It pays to know more about the jewelry in hand as well as the auction house's reputation.
3. Jewelry brokers.
Diamond brokers are, by definition, individuals or companies who buy diamonds from regular people so that they could supply jewelry stores that have actual storefronts. In some cases, brokers work directly under such stores. The advantage of selling to brokers is that the appraisal is consistent and not far from actual valuation. It’s only natural that they won't be purchasing it for its actual price since they have to earn a profit as well. So for those who are let down by the jeweler's appraisal and are thinking "Should I sell my James Allen engagement ring to the pawnshop downtown?” No, go to a broker instead. It's not as lightning quick as a transaction with local jewelers but at least the appraisal is relatively fair.