A few good tips for selling a diamond ring

by | Dec 17, 2015 | Jewelry

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There are numerous ways to sell diamonds in Chicago; a lot depends on who is selling it, why and to whom. Diamond rings can obviously be sold by jewelers; there are also those that want to sell the diamond because their engagement didn’t work out as expected as well as people who have inherited old jewelry which includes diamonds in the setting. Jewelers are trained in the assessment of diamonds; they know the shapes and qualities as well as the current market prices. As strange as it may seem, jewelers sell fewer diamond rings than others. When an individual wishes to sell diamonds in Chicago there are a few steps that must be taken first; these steps include getting an accurate appraisal of the stones value, the approximate wholesale value and the various ways of selling it.

Many people that sell diamonds in Chicago do so because they are in need of immediate cash. These people will often approach a jeweler or a pawn shop; these two potential purchasers are the easiest and often the safest option. You cannot expect anywhere near full value when you use a pawn shop, however, this is not necessarily a deterrent to those who need cash and they need it now. A jeweler may or may not offer more; it depends on whether the diamond is of extremely high quality. A person who sells a diamond ring to a pawn shop or jeweler can expect about one third of the diamonds true value.

There are other viable options, some are better than others. Selling the diamond online or through the local newspaper can work but it will take longer and be more difficult. Rarely would a person make an offer on a diamond that he or she has not seen or had appraised, there is also the issue of buying something from a divorce or broken engagement. Although these approaches are more cumbersome, the chances of eventually getting a better price are higher. Many people find the best approach is to sell the diamond to someone they know who is willing to pay close to what it would cost to buy it from a jeweler.

Regardless of the approach that is taken to sell diamonds in Chicago it is absolutely a must to have it appraised, preferably from more than one appraiser. Once the diamond has been appraised the seller can at least negotiate the price confidently, knowing what it is worth.

If you wish to sell diamonds in Chicago there are numerous possibilities. If you are looking for the best price and a quick sale you are invited to visit Chicago Gold Gallery.

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