Selling expensive diamond jewelry - suggestions for how and where?

[disney4us2002]

I've inherited some expensive jewelry and I have no real use for it and the diamond tennis bracelet doesn't even fit. How do I go about selling these items at a reputable place?

They do not have any sentimental value to me, before someone asks why I don't want to keep them....

 

[lynxstch]

Why not find a local jewelry store and get an appraisal from them and take it from there?

 

[AgentMama]

I've sold jewelry at a local jewelry store as well.

 

[NYCgrrl]

In addition, if the jewelry is vintage or antique, contact an auction house as you’d be surprised at the prices fetched from that venue.

 

[Micca]

I know a guy...

 

[nw6675]

Get several different quotes for sure. A reputable long standing family store would be my baseline.

 

[_19disnA]

Unfortuately, you will likely find very few jewelers willing to buy your items regardless of the value. Many will probably only pay the scrap value for the gold/silver/etc. I don't think there is much of a resale market for used diamonds.

 

[NYCgrrl]

Unfortuately, you will likely find very few jewelers willing to buy your items regardless of the value. Many will probably only pay the scrap value for the gold/silver/etc. I don't think there is much of a resale market for used diamonds

Respectfully disagreeing
https://pippinvintage.com/collections/bracelets

https://doyledoyle.com/

And costume jewelry can go for amazing prices.

 

[wenrob]

In addition, if the jewelry is vintage or antique, contact an auction house as you’d be surprised at the prices fetched from that venue.

This. Don’t go to a basic in the mall type jewelry store they will undercut you big time. Especially don’t go to a pawnshop or someone who blasts they buy used jewelry. If you have a trusted jeweler, get it appraised and then ask them where you should take it.

Are they true vintage pieces or just old? I ask because tennis bracelets were popular 30ish years ago. I’d consider that just old. Something like my grandmother’s wedding ring from the 1930-40s is what I’d consider vintage.

 

[_19disnA]

What someone lists as a SELLING price for antique pieces on their website isn't an indication of what they will PAY you for your used jewelry. It wouldn't surprise me to find the DeBeers who controls a LOT of the new diamond market may 'discourage' (either officially or unofficially) jewelers from buying up used stones for remounting. Reselling vintage jewelry pieces is not the same thing. What they will appraise it for isn't necessarily what they would actually pay to buy it from you.

 

[NYCgrrl]

What someone lists as a SELLING price for antique pieces on their website isn't an indication of what they will PAY you for your used jewelry. It wouldn't surprise me to find the DeBeers who controls a LOT of the new diamond market may 'discourage' (either officially or unofficially) jewelers from buying up used stones for remounting. Reselling vintage jewelry pieces is not the same thing. What they will appraise it for isn't necessarily what they would actually pay to buy it from you.

Agreed that a seller will receive a lower price than what a retailer is advertising but of course we are discussing getting the highest price for the individual seller.

DeBeers has enjoyed a virtual monopoly on the diamond trade since it began in southern Africa; don’t feel like going into its history which was known by many before it became fashionable; too depressing.
Happy Holidays!

 

[tony67]

May want to look for a place that deals with estate jewelry.
If you are using a lawyer they can probable point you somewhere, but do not let them have it done.
I was charged more by the lawyer to get the diamond appraised than they said it was worth.
It was a very nice diamond from the 60s that I had the receipt for - its cost $750 in the early 60s. That is about 7500 today. They said it was worth 1200 and it cost me 1500 to have it appraised.
Yeah that lawyer was a bad choice, he worked at the court house and my parents chose him. Long story.

Be careful who you go to as there are a lot of scammers, sometimes they will take days to appraise your jewelry and what you get back may not be what you gave them.

As others said they will basically pay you as little as possible, not even going to get into the whole diamond scam.
No different than used car dealers, collectable dealers etc...

I had a very nice $300 dollar gold Claddagh ring, it was heavy and solid. Made in Ireland.
They offered my $15 for it, it may have been six moths old.
This was back in the late 80s. I doubt much has changed.

In the end I found it was not worth it to even bother when I was dealing with several estates and sold the stuff at a bargain to family members.

 

[_19disnA]

I think DeBeers is also starting to realize that the wider availability of high quality man-made diamonds is a real threat to their monopoly. They have held a corner on that market for so long and there isn't much they can do about new competitors making an entrance. As far as I know there has never been an active resale market for used mined diamonds.

There are many legit places that will test your gold/silver/etc. rings & jewelry and give you a calculation of what they will pay for the metal content.

 

[NYCgrrl]

Should also point out that there are places such as consignment shops both brick and mortar and online.

 

[kymom99]

I think DeBeers is also starting to realize that the wider available of high quality man-made diamonds is a real threat to their monopoly. They have held a corner on that market for so long and there isn't much they can do about new competitors making an entrance. As far as I know there has never been an active resale market for used mined diamonds.

There are many legit places that will test your gold/silver/etc. rings & jewelry and give you a calculation of what they will pay for the metal content.

I sold my wedding rings from my first marriage for the gold. They didn’t even want the diamonds. They put them in a baggie and gave them to me. I don’t know where they even are anymore.

 

[SueInBoston]

I sold my wedding rings from my first marriage for the gold. They didn’t even want the diamonds. They put them in a baggie and gave them to me. I don’t know where they even are anymore.

I had same experience selling my 2 rings. the diamond was 1 carat each, but the jeweler didn't want tem. I was thinking of making them into earrings, but one was round and one was oval shape. Now they sit in my jewelry box, 1 for each kid if they want it for their SO when the time comes.
I kept the tennis bracelet, because there weren't a lot of gold and I would end up with a bunch of loose diamonds, the jeweler advise that I keep it as "costume" jewelry....lol