Do you want to sell one of your gemstones or jewels? Here you will get to know how to sell gemstones at high prices.
Look no further—with our perfect how-to action plan; you’ll have all the top tips and specifics to approach your deal with peace of mind confidently. Perhaps you’re wondering what to do with a single gem you picked up during your last bout of spring cleaning, or you’ve finally decided to cash in your great-grandmother’s gold or diamond valuables.
Whatever the case, we’ve compiled a list of some FAQs to help you sell your gemstones for cash and make a smooth and swift sale.
What is My Asking Price?
To get you on the right track, start with a jewelry appraisal and get your jewel or stone assessed to obtain objective market value. This guides you when you’re not sure how much your item is worth. The evaluator will also give their fair estimation of how much potential jewelry buyers will offer.
An experienced evaluator always keeps in mind the following pricing factors:
- Your gemstone or jewel’s quality
- Market accessibility
- Local appeal for this precise gem or jewel in your region
Contemporary fashion trends also determine value, particularly if a stone is set in a certain piece. An objective market assessment provides you with a reference point in determining your asking price. This is incredibly helpful when you have to sell jewelry.
Specialist buyers like Sell Your Jewelry offer quick and easy service and guidance on how to sell gemstones for the most money. Whether you are selling a Tiffany sapphire necklace or a Cartier ruby ring- Sell Your Jewelry is here to help you. Our jewelry gemstone specialists have the knowledge and expertise to offer you fair and competitive prices for gemstones and jewels.
How Do I Locate an Evaluator for jewelry appraisal?
There are different assessor associations you can approach to find an independent evaluator:
This list contains contact details for the headquarters of each association in its respective country. Countrywide membership exists for every association, but if you can’t find any evaluators in your specific region, you’ll have to look more closely to find one nationally.
Can I Use a GIA-Certified Evaluator?
No. While GIA equips students in knowing how to classify stones and rate diamonds, they aren’t taught how to write evaluations. GIA doesn’t qualify evaluators.
An evaluator requires expert knowledge, education, and experience to deal with legal documentation such as an evaluation. Always verify a prospective evaluator’s credentials before proceeding, to know you can trust their judgment.
Do Graduate Gemologists (GG) Write Evaluations?
Anyone can write an evaluation, but we recommend you opt for an evaluator who is well trained in the task.
Also, he or she should have the gemological training & a solid background & understanding in the making of jewels. GIA has a Graduate Gemologist course equipping trainee gemologists to classify and rate both diamonds & colored stones. Upon completion, graduates can further their training to become evaluators.
This is frequently done through one of the assessor associations. When approaching these associations for a recommendation, it’s useful to verify if an evaluator also has a GG qualification.
What’s the Next Step after the Evaluation and How to Sell Gemstones for Cash?
Once you’ve obtained your evaluation, you can select a method on how to sell gemstones and jewels.
Here are some possible steps to consider before deciding what to do:
- Find a bidder: Your successful sale could be secured either through an online auction website or your nearest auction house. The higher the quality and value of your jewel or stone, the better it is to use the services of more established auction houses. For some inspiration, view these stunning stones in an Auction Report.
- Resell your item: It’s worth a try asking if the original jeweler or owner will repurchase it from you. It’s important to note that the majority of jewelers will make an offer that is less than the general worth for the item. Jewelers protect themselves in doing this as they have to make an upfront payment in purchases from a private person for a piece that they can’t guarantee they will sell again immediately. By contrast, a jeweler purchasing an item from a supplier can do so as and when needed & the total is often split into multiple payments.
Trade-in your item: It’s not uncommon for your jeweler to agree for you to trade in your original item.
In exchange, you could either obtain store credit you can use towards purchasing a brand new jewelry item or another item from the jeweler’s range.
If the style of jewelry is outdated or no longer your preference, consider trading the original stone from its original mounting in favor of an entirely new setting.
- Sell the item on consignment: Find a jeweler or estate jeweler who collects previously owned jewelry pieces on consignment. Be aware that you don’t usually receive payment for the piece until it’s sold. Jewelers often take a commission from a portion of the sale, so remember to inquire about this when at the jewelers.
- Contact other jewelry stores: Find out whether additional stores or companies that buy previously owned jewels or gemstones for resale would consider buying your items. It’s crucial to use your baseline original asking price as determined by your evaluator.
How much is my gemstone jewelry worth?
Before you begin selling your gemstones and jewels, it can help you if you have some expectations about the price in mind. Due to high mark-ups across the jewelry industry, designer gemstone jewelry will typically fetch about 20%-25% of their original retail value. High operating costs such as rent, wages, marketing, etc., mean that jewelry companies heavily mark up their goods to turn a profit. These can impact your resale price when you decide on how to sell gemstones. Still, the ultimate value of your item on the secondhand market will largely depend on the following characteristics:
Designer- What brand is your gemstone jewelry? Tiffany? Cartier? Luxury brands will fetch you better prices when you sell gemstones.
The 4 C’s – The 4 C’s (color, clarity, cut, and carat weight) have an enormous impact on the worth of your item.
- Color – Color often has the most considerable effect on the price of your typically. The most desirable color depends significantly on the type of stone.
- Clarity – Clarity refers to the number of inclusions, or flaws, that your gemstone has. Many gemstones have inclusions, but your item’s value can change significantly based on the size, appearance, and type of inclusion. Typically, the more visible the inclusions, the less desirable your item is, thus the less valuable it becomes on the secondhand market.
- Cut – Cut can drastically affect the appearance of the gemstone. High-quality cuts can minimize inclusions and maximize a stone’s color and visual appeal.
- Carat Weight – Generally, the greater the carat weight, the more valuable your gemstone is.
Rarity – The rarer the type of gemstone, the greater it’s worth.
Condition –If your designer gemstone jewelry is chipped, cracked, or otherwise in poor condition, it may harm its price.
Brand – How to sell gemstones at high prices? Certain luxury brands have greater resale value than others, such as Tiffany & Co. and Cartier’s designer gemstone jewelry.
Origin – Depending on the type of gemstone, the origin may be a factor in its value. Gemstones from a particular region will have a similar appearance, often containing the same kinds of inclusions and similar colors. Suppose your gemstone hails from a specific region that regularly produces high-quality and visually appealing stones. In that case, it will likely be more valuable than if it hailed from an area known for its lesser quality stones.
Market Conditions – The market conditions at the time of sale can have a massive impact on your item’s price. Thus, while deciding on how to sell gemstones, remember that certain styles or types of designer gemstone jewelry may be more in demand at the time of sale and thus fetch a higher price.
These guidelines have been designed to give you the best information necessary to obtain a suitable price when you sell your jewels or stones.
At our Singapore office at 29 Kreta Ayer, we buy gemstones, jewelry, and diamonds, and give the highest payouts in the market. Feel free to contact us for a 100% free consultation by filling your details in the box below.