You’re eager to sell a diamond ring that you know your grandmother purchased for more than $5,000, but are shocked to hear the appraiser offer significantly less. After all, it’s been in your family a long time and you expected its attractiveness to boost its worth.
The truth is that retail prices incorporate other factors. When you purchase a new piece of jewelry, such as a fine watch, you are paying for more than just aesthetics. You’re also paying for the overhead to design and create the item from high-quality materials. Plus, you’re paying for the shipping costs to get the ring to the jeweler — as well as absorbing business and marketing fees incurred by the jewelry shop.
In other words, the $5,000 price tag is the cost of buying new, but doesn’t mean the ring is still worth the original price.
Unless your jewelry piece is extremely rare, such as an authenticated vintage diamond ring from the late 1800s that may be enticing to certain types of buyers, it will not appreciate over time.
The jewelry you’re trying to sell may look in great shape, but only a trained jeweler has the tools to tell if it’s honestly in tiptop condition. You may be unaware that your platinum and diamond ring is missing a prong or that your gold necklace has serious scratches that mar its shine.
Although jewelers can make repairs on pre-owned jewelry to restore the pieces to like-new condition, buyers will expect to get a deal on this type of merchandise. Additionally, you will receive a trade value that incorporates the repair costs — a portion of which will likely be passed to the buyer as well.
As a side note, when you sell watches in Austin, Texas, be sure you know if they work or not. Watch trendiness comes and goes, but working timepieces are always more appealing than non-working ones.
Instead of feeling like you’ve just been thrust into a Level III foreign language class, you should always get up to speed on jewelry terminology before heading to your favorite Austin, Texas, jeweler’s for an appraisal on your jewelry pieces. Beyond the 4Cs of diamonds (cut, clarity, color and carat) you should also get to know everything from gem shapes to precious metals and stones. The more information you have upfront, the more likely you’ll be to ask better questions and understand the jeweler’s point of view.
At the same time, don’t be afraid to speak up if your jeweler uses a term you don’t understand. Your goal should be to leave the store better-educated and satisfied that you got the best price for your jewelry.
Like anything, jewelry trends come and go. One day, gold or silver watches might be hot. Within a half-year, diamond or precious metal rings may steal the limelight among pre-owned jewelry shoppers. Consequently, you should consider selling your jewelry in Austin, Texas, at the peak of demand — if at all possible.
Not sure whether what you have to offer is more or less likely to sell in the current market? Stop by Diamonds Above and our team will be happy to explain what we’re seeing as far as jewelry consumer interest. That way, you can determine if you want to wait until, for instance, the price of gold rises.
Above all else, go into selling your jewelry with an open mind. Plenty of factors come into place during negotiations — and you should be willing to consider all sides of the situation before striking a deal with the jeweler.
Looking to sell old or unworn engagement rings in Austin, Texas? Trying to get rid of estate jewelry, watches, gold or gemstone pieces? Look no further than Diamonds Above, a premiere Jewelry Store in Austin, TX! Bring in your old or unworn pieces for us to take a look at and possibly take off your hands! Visit our page on selling & trading jewelry for more information on our process and what you can expect!