What You Need to Know Before You Sell Diamonds for Cash

A little salable jewelry can be a lifesaving source of funds in times of economic uncertainty. Yet it can be hard to know how best to go about converting such assets to real money. While the local jewelry store is usually a quick and convenient destination, people with jewelry to sell tend to not be confident about the prices offered. They wonder if they couldn’t do better elsewhere.

You first need to get your jewelry professionally valued

According to Porcello Estate Buyers of Palm Springs, CA, your first step should be to get your jewelry valued.┬áDepending on the year of production and who made it, your jewelry could be worth a substantial sum. Rather than have your jewelry valued by the very business hoping to buy it, it would make sense to go to a business whose only service is to value jewelry. If they don’t stand to profit from undervaluing your jewelry, they have no reason to do it.

A valuation certificate can be a good leg to stand on when you haggle with each buyer (yes, haggling is important). When you receive a valuation, you need to make sure you get separate reports on the item’s worth as a whole, and the worth of its constituent components — the precious metal setting for its purity level, and the precious stones.

It does make sense to shop around

While the prices offered by jewelry stores, pawnbrokers and specialized jewelry purchase stores are often on the lower end of the scale, estate buyers tend to be one of the most consistent options for those hoping to obtain cash for diamonds or gold. Nothing’s ever a certainty, however; it’s important to try every option. Whatever firm you choose, you do need to look up its reputation online. User reviews can be vital. You could avoid stores with a history of consistent undervaluation. Websites such as Where2SellGold.com publish great professional reviews of online stores, too.

Make sure that you compare apples to apples

In many cases, the negative reviews that you see online are by customers who went in with unrealistic expectations. Individuals, for instance, may look up pricing guide suggestions for 18-karat gold, and turn disappointed when a store fails to offer them a similar level of valuation on their 14-carat jewelry. This type of mistake is common. It’s important to read multiple reviews, and check out the BBB.

Going to a trusted dealer

It isn’t always a good idea to go with the offer that sounds the most exciting. Bad dealers often draw buyers in with exciting sounding offers, only to try to make their money in other ways. Rather, it’s important to find a dealer who seems trustworthy.