You may get a huge financial emergency when you least expect. For example, a terminal illness that is not covered by insurance can quickly drain your savings. Such circumstances may leave you with no other place to look for cash but to sell your assets. Of course, the last thing you would want is to sell your house. If you have diamond and fine jewelry, these would be the ideal assets to sell to raise money.
While specific jewelry may have a sentimental value to your life, they can actually be good sources of large amounts of cash that can help you get through tough times. Thanks to the internet, you can quickly sell your jewelry for great prices at various websites. You can also take the jewelry to a diamond dealer or pawn shop if you prefer doing transactions in person.
The last few years have seen an increase in the demand for diamonds and fine jewelry all across the world. This explains why many jewelers are buying diamonds from members of the public rather than from wholesalers. However, while the demand for diamonds cannot be denied, it is not easy to sell them if you are not actively involved in the industry. The difficulty mainly arises from the fact that measuring the value of a diamond can be quite a challenge. If you have not sold any fine jewelry in the past, it is easy to be confused and overwhelmed with how to measure the value of your item.
Before selling a diamond jewelry, it pays to know its value.
How Much is Your Diamond Worth?
Not all diamond rings are valuable. The diamonds you inherited from your grandmother may not be as valuable as you believe they are. Therefore, before you go looking for buyers, you should get an accurate value of the stone. The value will depend on its quality and authenticity.
One of the ways in which you can determine the value of a diamond piece is by hiring an appraiser to help you. Ideally, you want to get help from an appraiser that does not engage in buying or selling diamonds. Such a professional will give you an honest opinion of the condition and characteristics of the stone. Some appraisers will also tell you of the factors that will affect the value of your jewelry on the market.
However, you may not always have to spend money to get a formal assessment of the jewelry. For example, you can take the jewelry to a pawn shop or a professional diamond seller to get it appraised. Get the opinion of multiple sellers as well as pawn shops to have an idea of how much you should expect to get when you decide to sell the jewelry.