Are Diamonds Worth Anything?
July 28, 2019
Since there are so many conflicting and opposing views on the internet about diamonds, finding their actual value can be a strenuous endeavor. According to Forbes, “Unlike gold, which has a quantifiable melt value, resale prices for diamonds have no one objective measure, making it easy for inexperienced sellers to become confused and overwhelmed.” It’s difficult to know the actual second-hand value of a diamond without deep professional understanding of the market.
In this article you’ll learn how to measure your diamond’s value, what affects it, and how you can get an honest offer for your diamond without being scammed.
DIAMOND FEATURES THAT AFFECT ITS VALUE
Diamonds can be worth hundreds of thousands of dollars or mere hundreds, it all depends on their features. Similar to other valuable things like cars or houses, there are many different features that together define a diamond’s value, Like shapes, sizes, colors, clarity, polish and other internal or external qualities. The core test of a diamond’s grade is usually made from the four C’s:
Color: values range from D to Z, where D is 100% transparent and Z is yellow.
This the measure of the amount of color in the diamond, where D is the most valuable as it causes more light to be reflected on the facets which creates that unique sparkle that people are so attracted to.
Clarity: also known as inclusions (internal) and blemishes (external) marks.
The values range from FL to I3 or flawless to visible respectively, they refer to the amount of marks, in which I3 is when marks are visible without equipment and flawless has none even with equipment.
Sometimes damages to a diamond’s exterior or interior can only be seen with special magnifying equipment.
Carat Weight (ct): the net weight of the diamond in carats.
Cut Grade: these range from excellent to poor, and refer to the cut quality and shape of the diamond - if proportional or not.
Excellent cuts enhance the prism effect and reflect light better, and thus are more desirable.
There are a few more factors to keep in mind for the diamond’s value (SSTFP):
Shape: there are several popular cuts; the most popular is the round brilliant, then the “Fancy” cuts: heart, pear, oval, emerald, cushion, radiant, and princess cuts. Their popularity changes according to fashion trends in the industry.
Symmetry: ranges from excellent to poor, and is graded of how the facets are aligned with one another; facets like the table, culet, crown and griddle.
Treatment: some diamonds are artificially enhanced to have better clarity or color, this can be detected by special equipment and these diamonds are considered less valuable than naturally clear or colored diamonds. Some treatments use fracture filling or HPHT for enhancement.
Fluorescence: valued from none to very strong, and refers to the amount of shine under UV lights. The less shine the better, as it is caused by impurities.
Polish: valued from excellent to poor, and refers to the degree of smoothness of each facet. Roughness can be spotted with specialized magnifying equipment.
MEASURE MY DIAMOND’S VALUE
Online diamond calculators are usually inaccurate, even though they claim to be top-notch. The main reason is the inexperience of the person doing the calculations. This process is complex and requires a specialist, preferably a GIA certified gemologist, who also understands the second-hand diamond industry. The Gemological Institute Of America (GIA) has the reputation of being the most specialized laboratory on the market, and their appraisals are nearly indisputable.
When you’d like to measure your diamond’s worth follow these steps:
Find all the four C’s of your diamond.
Present it to an expert gemologist.
Get at least three appraisals.
[greeting]
HOW TO GENERATE THIS REPORT?
You might have been lucky and have the initial GIA report when you bought the diamond. That report details all the diamond’s traits and shows it’s authenticity. The diamond might also have come with an appraisal from another institute, or even an insurance company. These reports will have all the diamond’s traits and qualities listed, which will allow you to get a quote from an expert.
But if you don’t have any reports or certificates for your diamond, follow these steps to understand it’s value:
Carat Weight: Find out your diamond’s carat weight using an online calculator.
Color and Clarity: show your diamond to a local jeweler to get a rough idea of its color and clarity grades.
Shape: Determine the shape of your diamond.
[greeting]
GETTING A FINAL QUOTE FOR MY DIAMOND
If you’d like to get a final price quote from a buyer, the buyer will obviously need to see the actual diamond. They will need to compare the real diamond to the information they received on paper, and make sure it matches. When selling your diamond, make sure to check the reputation of the buyer you’re doing business with. You can use the Better Business Bureau (BBB) business reputation registry to see the history of the buyer and make sure you can trust them.
Then make sure the entire process has no fees attached to it, as it should be entirely free. You should have the option to either sell remotely or on location; Some businesses will ask you to come in for a quote immediately, but that should raise a red flag as they might have something shady going on
Follow these steps to get a final quote for your diamond:
Come to the jewelry store for a free consultation.
Receive a price quote.
Get paid (if you approve the offer).
If you’re looking for a buyer, Dianoche is a highly reputable expert in the field, buying locally and internationally. They have GIA certified gemologists. Fantastic five stars reviews from their clients all over the world. They are able to give competitive and accurate offers for both diamonds, jewelry, and even gemstones.
[greeting]
How To Sell Gold Jewelry in Singapore
July 21, 2019
Everyone is selling their gold these days; you hear it from many of your colleagues or friends, but you wonder how you really know you won’t get scammed trying to sell your own.Well, this is where this article comes in; we’ll get you a clear path on how to avoid any mines and pitfalls on your way to selling your gold.There are two main methods, first, selling to a shop, and second, selling to a dealer. Let's explore these methods.Selling to a Shop There are several steps to take when you are selling your gold to jewelry stores.Step 1: Selling to jewelry storesThe bigger the name brand stores the less room for negotiations, but they would not try to rip you off for two reasons.First of all, they have to uphold their brand’s name and reputation, and secondly, this is not their main source of income.Step 2: Avoid pawn shopsThe second thing is to avoid, like the plague, selling your gold to a pawn shop.Their business is built around paying pennies on the dollar, so they can resell it cheap to the next buyer.So it's best to just steer clear of pawn shops. Since they are not expert jewelers or goldsmiths, they will most likely fail to recognize a high value item or a design piece of jewelry, but they are also very crafty, and might let you feel as if your gold is worth less than it really does. Step 3: Avoid professional gold buyersThere are a myriad of gold buying companies that emerged in the past years; most of them are either scammers trying to find and acquire as much gold as possible from uneducated or ignorant sellers, or will try to take advantage of you using unsavory methods of manipulation. Avoid them at all cost.[greeting]Step 4: Get more offersNever settle for your first offer.Go to at least 3 shops and get a quote from them; you’ll notice wide price gaps between different shops, and it usually comes down to the percent they take as commission on their sales.Smaller shops may give you a better price, especially if you have a unique or designer jewelry.Step 5: Know how your gold’s value is appraisedDon’t be fooled by ads on TV or online; only 24 carat gold nets 100% value, while 18 gets 75% and so on.If the gold is marked GP it means it's only gold-plated on another metal, like nickel or zinc, and will probably not sell at all.Also, keep in mind, when you make your own estimate for the value, that the weight of the item is comprised of all it’s parts, including the stones and other metals and not only the gold.Step 6: Understand what's in your collectionMost of it will be melted anyways to make other jewelry, so when estimating the price, don’t take into account any sentimental values like an engagement or wedding ring.With that said, any designer jewelry that you may have will increase its value if it’s a household name.Always do comprehensive research on your collection prior to approaching vendors.Step 7: Check with BBB prior to closing a dealThe Better Business Bureau, or the equivalent of that in your location, will have a list of all the businesses and their reputation.This will save you from making a deal with any company that has unsavory practices or that treats people unfairly.When You Want to Sell to a DealerHere, as well, you have 5 steps to take before you make a deal with a gold dealer.Step 1: Separate and organize your goldGold jewelry or whatever you’d like to sell needs to be organized.This will save the dealer a lot of time and they will be immediately become more positively inclined toward you, as most people just drop a pile of items in their lap, so to speak.This may give you a better deal at the end, as you didn’t waste their time.Start by removing any gold-plated, gold imitation or fake gold from your collection.A strong magnet really helps here, as gold is not drawn to it at all, so if anything besides the clasp sticks to the magnet, it may be gold-plated or fake.So it might be a good idea to completely remove these items from your collection.Step 2: Check your gold qualityUse a magnifying glass to check the label on the gold.Every gold piece is engraved with a label; it can be “10k” or “14k”, etc.If they have that kind of mark, put them aside in a small ziplock pouch.If you see “GF” or “GP” on any of your items, it means they’re gold-plated, and you should remove them from the main collection, as most dealers won’t buy these pieces at all.Step 3: Catalog your inventoryMake a list of the items in your collection and weigh each type of gold separately and in grams.Some gold buyers will use a unique system called Troy ounce, so don’t be alarmed.If you don’t have a small scale, you can purchase a digital food scale, or use one at the post office, as it's used to weigh envelopes.Step 4: Get several phone offersSimilar to selling to a shop; after the items are cataloged, separated and weighed, get at least 3 offers from different buyers.Do not settle for the first offer you get.You can start with some phone inquiries; if they don’t want to give you a phone quote after you give them a detailed description of the label, weight, and other characteristics, it would be better to avoid them, as they might have a hidden agenda or they might under price you with a terrible deal.If they do give quotes, ask them if there are fees they can’t disclose over the phone, as many times there are such fees.When getting quotes, make it a point to contact a refinery.Gold Refinery of San Diego claims that 99% of the gold jewelers and pawn shops buy and resell to a refinery.So contacting them directly will lower the commission a jeweler or a buyer would take for the same deal.The trick is to find a refinery in your area that is open to the public.Step 5: Research the dealerThis connects directly to the fifth thing you must do, which is research!Before you go to any place that gave you a good phone quote, check their reviews.Yelp.com and bbb.org are great places to start and many places can be found on google.There are many “cash for gold” companies everywhere, so be careful, as some of them are scammers and will underpay you by a large amount if you’re ignorant of the market, the gold’s value, or that company’s bad practices.Take the steps we’ve covered in this article and watch out for anyone who might want to scam you when you’re trying to sell your gold, so you can make sure you’ll get the best and the most fair deal possible.[greeting]
The Proper Selling Process Of Gold
July 21, 2019
The purpose of this article is to give you insights about the proper and appropriate process of selling gold and diamonds (when you are the ones that are selling old gold and diamond jewelry to the trader).The need in this guide is due to the great gap between professionalism of the buyer and the high probability that the salesman is not sharp in the area.Dominating a few terms and processes will help you to maximize your profit.Important to know!It is very important to get real price offers that are given after a physical evaluation of the gold and diamonds and not to relay on over the telephone offers.For diamonds (big and not little dots) you could get more money if the diamonds are disassembled from the jewelry.Its funny to mention but there are few that keep falling for that- its recommended not to let people to your homes for the purpose of selling gold and diamonds.Do your best to get at least two different offers (not by telephone but real ones)First step- telephone inquiryCall some of the places and ask challenging questions.[greeting]For instance, how they evaluate their diamonds.Places that would say that they have the option of disassemble big diamonds on the spot are more professional - estimating the diamonds while they are inlayed is tricky and will always be for the worse.If the diamond’s size justifies it, it’s always better to disassemble it in advance.We kindly offer you to skip the unproductive question “how much do you pay for a gram of gold?”.Via the telephone its easier to throw on any number but realistically when the offer is higher, you will probably fall harder.It is very recommended to get concrete offers instead of relaying on phone talk. Second step- scheduling meetingsPlease schedule a meeting in an organized place with an address.In the store, in the office etc. but not on the street, coffee shops, cars and surely not at your home.Prefer a secure place that not every man can go in and out of as he pleases.If its possible and according to the amount of gold and diamonds, schedule a couple of meetings on the same day so you can get at least two offers.There are areas that gather people who are purchasing gold and diamonds,the main one is the diamond exchange buildings.The advantage of the diamond exchange area is the level of security that the buildings hold which is great for making big deals.Third step- the course of the meetingPay attention that the evaluation of the gold is done with your presence.Make sure to see that the person evaluating the gold is separating the gold according to its purity ranks (every alloy of gold is mixed with other metals, but the concentration of the metals changes).The evaluation needs to be done by purity groups - 14 karat, 18 karat etc.As it was mentioned, in case of big diamonds (approx. 0.2 carat and higher), ask for their disassembling and cleaning in order to give an offer.Make sure that the person evaluating is doing it professionally - proper scale, acids for examining the gold, magnet (gold is not being magnetized), disassembling tools and so forth.Ask for the disassemble of everything that is considered as waste - mechanical systems of watches, cheap gemstones, locks of jewelry and more. The reason is to reduce the waste that can influence the price.In any sale, for any gold product, the waste calculations will be reduced - it is a natural and acceptable manner in the industry, but the waste measurements might change, and this is where the differences between the places come from.It brings us back to our warmest recommendation- get as many offers as you can.Fourth step- the transactionAn organized place, that reports its incomes, will make you sign some forms, these forms declares that the items that are being sold are yours.It will allow you payment via check or cash (within the boundaries of the law).In higher amounts we recommend a check.There are more than a few troubling factors in this field (of different types and levels) and so we believe that you must take responsibility in selling to organized sources.Good luck.Why there are differences in price offers?Needs: every business has its own expertise and selling the right products to the right place will be expressed with the price.Opportunity: taking a chance - trying to offer small amounts for raw materials that their price in the market is fixed and known.Knowledge in diamonds: if the buyer’s knowledge is richer, he will know to pay the real price.[greeting]
Guide and Tips for Selling Gold
July 2, 2019
From our experience in the field, you can differentiate two type of people who sell gold and diamond jewelry – the ones that sell jewelry that they bought themselves for some reason and those who sell inheritance that they received. The first type usually has more anguish from the stature and we are going to focus on this type of people in this article.
Important to know!
In most cases gold and diamonds will be bought from you by the retail price for their raw materials alone.
Therefore, there may be a great difference between the price you payed and the price you are offered. More on this topic later-on in this article.
You can maximize the price you are getting by selling the right product to the right place. Sell a Moroccan bracelet to a specialized store, diamonds to jewelers, etc.
It is possible to try and sell to private customers and the benefit will be higher there – this requires time, documents and patience.
The greatest distress for private people trying to sell gold and diamonds on their own, is that they are amazed by the gap between the buying price and the selling price offered to them.
The huge gap is due to the fact that in most cases the price for the raw material of a jewelry played only a small part for the final price tag in which it is sold. This gap is continuing to grow the more branded and expensive the place the jewelry was bought from. Take into example a ring with a central diamond and smaller diamonds.
At the day you bought the ring, among other thing, the following were considered:
VAT
Worker`s wage for producing the jewelry.
Different manufacturing costs of the business – worker`s wage, rent, insurance, electricity, etc.
Marketing and publishing costs – ads, Models, photography, etc.
Cost of raw materials – the cost of the gold and diamonds.
Profit above all expenses. The profit percentage and the sell cost may vary greatly even for similar raw materials.
But when you are approaching to sell gold and diamonds, in the vast majority of cases only one parameter will be considered – the retail price of the gold and diamonds + security gap that is called “waste”, which means that after refinement the obtained weight of gold is few percent lower than the original weight.
As stated, according to our experience this gap can even reach thousands of percent if the jewelry was bought “expensively”.
[greeting]
What can we still do in order to reduce the loss arising from these gaps:
In case the appropriate time has passed, try to sell the product back to the company you bought it from. In case of a shelf product that is marketed by them and is still being sold, they might pay a little extra for the jewelry. In case of a beautiful, unique, branded, in good condition, etc. Jewelry.
In case you have the time and patience try to sell it in the right platforms online (Facebook, eBay, second-hand websites, etc.). In order to maximize the chance of making a sale, give a cheap price tag and a proof for the original price. Take many clear photos and provide complete and transparent information.
Economical advice for anyone selling gold and diamonds
In case you must sell the jewelry to people from the field. Our best advice is to physically go to a few places and suggest the jewelry (and not only by phone – what is said on the phone doesn’t correlate with what they will actually pay).
In most cases, the price range in reasonable places will be similar since most of the time, most of this jewelry are being melted, but there might be a case that someone wants to keep the jewelry in its current state and therefore will pay for more than the raw material.
This is an uncommon scenario since anyone buying a jewelry knows that it might stay in stock for years, but it doesn’t hurt to try and in this way you can also know that the offers you received are legitimate.
Know approximately how much gold from every purity level (gold karat is mostly 14, 18, 21) you have.
Ask to disassemble large and heavy stones, watch mechanism, etc. In case the buyer doesn’t dissemble them he / she is simply taking more waste (indeed he / she doesn`t pay for gold). Many times, the locks of a necklace are not made out of gold. You can check that in advance using a magnet – gold won`t be magnetized.
In cases the jewelry has a relatively large central diamond (let`s assume as a rule of thumb 0.30 carat and above) and this is a jewelry not meant to be used, it is recommended to ask them to dissemble the diamond and evaluate it completely without the inlay concealment. Otherwise every merchant will assume the worst condition in order to protect himself.
Additionally, in many cases jewelry are filthy and it might affects their appearance. Make sure the place is reliable and skillful.
In case you have gold coins, it is worthwhile to invest half an hour for Google research to see if they have some collector`s value by any chance. This is very rare but it doesn`t hurt to try. Most traders buy them for melting either way but there are some exceptions. In case it is discovered to be unique, try to approach experts in Singapore or abroad (where the market is more significant…).
Many times, it is better for you to keep the central diamond or to inlay it in another jewelry. Otherwise, if you will buy another jewelry in the future, you will pay more than what you got. Even if you don`t like the design of a certain jewelry, a diamond is always a diamond and can be used!
[greeting]
Where To Sell Gold Jewelry
July 1, 2019
Where to Sell Gold Jewelry
Sometimes you notice that your old, unused jewels are just collecting dust, and there is a way to turn them into cash or your next vacation at an exotic place, that kitchen remodel you wanted, or anything else that may be more valuable for you.So, if you are wondering where to sell gold jewelry for highest price in Singapore keep on reading.Selling gold jewelry is always a balance of what you might gain from selling and how much you value your time.You also need to know your jewelry’s worth, and how and where to sell jewelry in Singapore.
SELL YOUR GOLD JEWELRY
FOR CASH
BEST PRICE GUARANTEED!
Get a free consultation and evaluation from an expert gemologist and a certified member of the Diamond Exchange of Singapore. NO obligation from your side.IT'S THAT EASY!Fill the form below and our experts will contact you to schedual a meeting:You can also contact us through WhatsApp or Email and send us images of your item.And you're always welcome to call.
Appraising Your Jewelry
There are three credible institutions that will appraise your jewelry, Telling you it’s exact worth:
The American Society of Appraisers, the International Society of Appraisers, and the National Association of Jewelry Appraisers.
All these institutes ensure a strict code of conduct, ethics and rules.
They would charge anywhere between $150 to $350 an hour (while some charge by the item).
If you’re looking to get cash for your gold bracelet or other jewelry SellYourJewelry offers the first step to sell gold jewellery in Singapore by offering a completely free consultation.
Keep in mind while exploring options on where to sell gold jewelry that a simple ring with a single diamond may take an hour or less to appraise, but a complex piece with multiple diamonds and metals might take north of three hours, but under no circumstances should you agree to pay a percent of the item’s value. where to sell gold in singapore
[greeting]
How to Sell Gold Jewelry
You can sometimes find fine jewelry in someone’s old pile of cheap, used jewelry.
There was someone who brought a used sapphire with an outdated appraisal of $18,000.After deep testing under the microscope, it turned out to be an untreated Kashmir sapphire worth nearly half a million dollars! It’s not farfetched to say he knew where to sell gold jewelry and got an offer worth a lifetime. Keep that in mind before thinking your old jewelry is just junk and try to wholesale the pile and be done with it.Some well-known designer jewelry is worth more intact than simple generic jewelry that is best sold as scrap.A good appraiser can advise you on the matter and it is for you to decide where to sell gold jewelry.Now, you have to be realistic and realize that the appraisal quote is probably too high for most used jewelry sales, since most appraisals will consider the replacement value of your jewelry for insurance purposes and give you the retail price rather than the used resale value.So, you’ll need to ask your appraiser for a real market estimate of your jewelry in addition, as most of their work goes toward evaluating assets for insurance companies.You can also ask the “melt” price of your jewelry which is the cost of the metal it’s made of – either gold, silver, platinum or any other alloy.In case you’re looking to sell gold ring getting 70 to 80 percent of the melt value of your gold is considered a fair value by most experts.https://www.youtube.com/watch?v=RyXjIeTp7FY
Where to Sell Gold Jewelry Singapore?
There are many complaints coming to the Better Business Bureau, about online buyers giving you very low offers, failing to return jewelry when you reject their offer, or even don’t send payment for your jewelry and give various excuses.
Many online gold buyers send a vague and devaluated offer to you when you’re looking to get cash for your gold necklace or when you want to quickly get cash for your gold earrings. Getting online appraisals from various places of the same piece of jewelry show differences of up to $146.
The Better Business Bureau has a rating list of most gold buyers, where you can see their reputation and some reviews.
Make sure to read the fine print in the website to understand all their rules and regulations so you know what kind of deal you walk into.
When searching for where to sell jewelry, try to notice their response time to an offer before it’s considered a done deal, and how long until the payment is sent.
Make sure to take a picture of your jewelry prior to shipping it and send it only with an insured delivery method that will prove that the buyer received it and when.
There are some online consignment shops that will sell the jewelry for you, as most private individuals will usually pay more than professionals for your jewelry.
If you are looking for a place to sell your gold at a high price, what factors affect the value of gold, you can take a look at our article about where to sell gold in Singapore.
Get Cash for Your Precious Gem
If you have made your mind on selling your jewelry online in Singapore and are still not sure where to sell gold jewelry, We offer free appraisal appointments with a 5-star rated service to all of our clients.. Their specialized gemologists offer true market value for your gold rings, necklaces, diamonds and even loose gemstones.
What’s special about this site is that they will send the jewelry to a company for safekeeping after the jewelry is apprised.
It is possibly the quickest and easiest way to get cash for highly evaluated items, like your gold jewelry, gems and diamonds; with their easy-to-use website you can fill a swift form and start the selling process. In a world full of online scammers choose to make a safe bargain for your jewelry.
Selling in Person
Out of all the options above on where to sell gold jewelry, selling to a local store is the best option (by far).
Some people may sell gold jewelry to many places, from coin shops to pawnshops and a variety of consignment shops and private jewelers.
The American Gem Society (AGS) can provide a local jewelers list with pristine reputations, who buy jewelry.
For instance, we have a local offline store in Singapore, and we give the highest payouts for jewelry along with a 100% free consultation.
You should always get multiple written offers.
Get at least three estimations for items, even more if it’s a valuable item.
Many first-time sellers when searching where to sell gold jewelry often stick to just one evaluation. Multiple offers is the only way you can get a real sense of what the market is actually willing to pay.
You’ll need to inform the buyers that you’re required by the seller to get at least three offers, so they will have to put their best offer forward on the written quote.
Your appraiser may be connected to a broker, or might be a broker themselves.
Ask them if they are willing to act on your behalf.
Make sure the broker is very experienced and that they have a wide network of connections.
Some brokers take a flat one-time fee,
Others may charge between 10 to 60 percent for the sale, but it really depends on how much work will be involved in the selling process.
There is no one location when looking for where to sell your jewelry. The best strategy is to explore all avenues, starting from your home using your mobile device you can get online appraisals.
Get started with your first selling experience at Sell Your Jewelry by clicking on this online form and get your free consultation by an expert gemologist. Our experts will prioritize your jewelry and arrange a consultation meeting so you can get the best offer possible. [greeting]
