| Although they say diamonds are forever, many | | | | your diamond. In most cases the jeweler will then |
| people will discover that they might want to get | | | | offer you dump value in return for your jewelry |
| rid of their diamond jewelry for one reason or | | | | item. Dump value is a phrase used in the diamond |
| another. It might be an old engagement ring from | | | | industry to describe the lowest possible value one |
| a marriage gone bad, or even a diamond bracelet | | | | should sell his diamond for, and it ranges between |
| given as a gift from an ex-boyfriend. Either way, | | | | 60 to 80 percent of the Rapaport value, which is |
| selling your diamond jewelry could be a bit trickier | | | | indicated in your appraisal. Although this may |
| than it seems and there are important things to | | | | seem quite unfair, it is actually very reasonable. |
| keep in mind while doing so. The following are the | | | | However, if the jeweler were to offer you a |
| basic steps necessary to sell a piece of unwanted | | | | price lower than the dump value in exchange for |
| jewelry in the most advantageous, efficient and | | | | your jewelry item, then there's no deal. There is |
| convenient way. | | | | simply no point in settling for a price lower than |
| The first step is to get your diamond jewelry | | | | dump value knowing that there are other jewelry |
| properly appraised, which is essential in order to | | | | stores who would be willing to purchase your |
| get valid documentation of its authenticity. After | | | | diamond jewelry for that price. The method of |
| all, virtually no potential buyer would agree to buy | | | | turning to auction houses is only recommended |
| your diamond jewelry unless it is appropriately | | | | for those who happen to be the owners of a high |
| appraised and valued. There is a wide range of | | | | end piece of diamond jewelry. It is suggested to |
| appraisers to choose from, but it is best advised | | | | deal with only the most prestigious and popular |
| to check their affiliations in advance. A good | | | | auction houses in this case. Christie's and |
| indication of the appraiser's credibility would be to | | | | Sotheby's auction houses are exclusive favorites, |
| check if they belong to the International Society | | | | and they both have branches spread worldwide. If |
| of Appraisers, the Appraisers Association of | | | | you decide to try your luck, you will need you to |
| America or the American Society of Appraisers, | | | | provide the auction house with the lowest value |
| which are the three main establishments in the | | | | you are willing to accept in return for your |
| field. | | | | diamond. This will actually be the starting point for |
| The appraisal office of your choice would be able | | | | the bid. Most jewelers will advise to give the |
| to provide you with a formal statement of the | | | | dump value as a reasonable starting point, but it's |
| diamond's value and characteristics which include | | | | really up to you to decide. Keep in mind that the |
| carat, clarity, cut and color. But most importantly, | | | | outcome of the bid depends mostly on pure luck, |
| upon request they will also note the estimated | | | | so you must consider if it's a chance worth taking. |
| monetary value of your diamond, a figure which is | | | | It is advised to refrain from using pawn shops, |
| also known as the Rapaport value. This value is an | | | | consignment and classifieds as a mean of selling |
| indication of the wholesale price your diamond | | | | your diamond jewelry. By selling your diamond |
| could sell for, not to be confused with the much | | | | jewelry to pawn shops, you could expect to |
| higher retail price it could sell for in stores. In | | | | receive absolute peanuts in exchange for your |
| addition, the wholesale figure indicated on your | | | | diamond jewelry. Their main objective is to buy |
| report is only the maximum amount you could | | | | cheap from you and then quickly resell it to the |
| expect to get, because in reality your diamond | | | | next customer. Most pawn shops would offer an |
| could sell for much less than wholesale. Although it | | | | extremely low 10% of the Rapaport value in |
| is somewhat frustrating knowing that the same | | | | exchange for your diamond jewelry. Leaving your |
| exact diamond could be sold in a jewelry store | | | | jewelry on consignment is based on the idea of |
| for a much higher retail price, it's only natural. The | | | | letting a jewelry store sell the diamond jewelry on |
| fact that your jewelry is not sold in a proper | | | | your behalf. The proceeds are then split between |
| jewelry store and you are not a professional | | | | the two parties, as thoroughly agreed beforehand. |
| vendor means that the person buying from you is | | | | This method could appeal to many people |
| merely looking for a good deal. | | | | because it seems to save the hassle of actually |
| The second step is to actually look for potential | | | | looking for a buyer. Furthermore, people would |
| buyers. This is by far the most difficult part when | | | | probably think that due to the large flow of |
| it comes to selling diamond jewelry, and in order | | | | customers entering the jewelry store, your item |
| to do so you must have plenty of patience and | | | | would be likely to sell faster. |
| determination. There are numerous methods by | | | | However, as luring as these advantages seem to |
| which you could find potential buyers, yet some | | | | be, you should always avoid leaving your diamond |
| are much more recommended than others. You | | | | jewelry on consignment with strangers. Just think |
| should keep in mind that prices offered in return | | | | of how easily they could replace your diamond |
| for your diamond jewelry could heavily fluctuate | | | | with a poorer one, or worse yet switch the |
| from one potential buyer to the next, and thus it | | | | diamond to a fake or synthetic diamond instead. |
| is very important to know which methods are | | | | You wouldn't even be able to spot the difference. |
| more recommended than others. It is | | | | After telling you that they were not able to sell |
| recommended to sell your diamond jewelry to an | | | | your jewelry, you will actually be left with nothing |
| acquaintance, to a jewelry store or even in | | | | but grief when you realize you've been scammed. |
| auction houses. Indeed, every jeweler in the | | | | Therefore, it is best to avoid this type of method |
| industry will agree that the best person to | | | | altogether and not take the risk at all. Posting |
| privately sell your diamond jewelry to would | | | | your jewelry in classifieds might seem like a good |
| definitely be an acquaintance. It could be your | | | | sale approach on paper, but as a matter of fact it |
| friend, someone from your family or even a | | | | has proved to have only an 11 percent success |
| co-worker. Your acquaintances will be much more | | | | rate. Therefore, in most cases it's a complete |
| likely to pay the full asking price simply because | | | | waste of time and money. Furthermore, posting |
| they trust you and know you do not intend to | | | | your personal information out in public could even |
| scam them. Keep in mind that you have a distinct | | | | put you at risk as it could lure potential thieves to |
| advantage over jewelry stores in this case, | | | | your doorstep. Setting up appointments with |
| because after all you offer wholesale price as | | | | potential buyers and finding yourself bailed out |
| opposed to retail price. It is strongly | | | | time and time again could be extremely |
| recommended to find out whether an | | | | frustrating and time consuming. That's why |
| acquaintance of yours could actually be a potential | | | | classifieds are not the best method to choose. |
| buyer before moving on and considering the next | | | | Turning your unwanted diamond jewelry into cold |
| options. Jewelry stores could actually prove to be | | | | cash is not that simple after all. It is advised to be |
| good potential buyers. However, you must be | | | | well-informed of the various methods available to |
| extra cautions and use your common sense while | | | | do so and know exactly which potential buyers |
| doing so. For example, when you enter the | | | | should be avoided. You, as a consumer and seller, |
| jewelry store, never let your jewelry out of sight. | | | | must be educated about your diamond and do |
| It is pretty common to hear about diamonds that | | | | your homework beforehand. By doing so you |
| are switched for poorer quality ones behind the | | | | could dramatically reduce the chances of getting |
| sellers back, so watch out. | | | | an unreasonable value in return for your diamond |
| It is recommended to show the diamond appraisal | | | | jewelry. If you are patient and have good |
| certificate as soon as you enter the jewelry | | | | negotiation skills, selling your diamond could prove |
| store, in order to show them that you mean | | | | to be a wonderful way to turn unwanted diamond |
| business and that you are well educated about | | | | jewelry into ready cash. |