Deciding the best time to sell jewelry, especially diamond jewelry, can be a tricky business. Not only do you want to make sure you’re emotionally ready to part with the piece, but you also want to ensure that you get the most money possible for your valuable item.
If you want to maximize the chances of getting the best possible price for your diamond vintage estate jewelry, make sure that you keep the four following factors in mind before searching for the best place to sell gold and jewelry in Orange, CA.
Assessing your diamond’s value
Before you visit places to sell jewelry and receive an estimate for your diamond, you should have a general idea of what it’s worth. This will prevent you from accepting ridiculously low prices from untrustworthy buyers who are only aiming to clear the largest profit margin possible.
Diamonds are appraised based on four main factors: cut, color, clarity and carat. The cut of the diamond refers to its shape. More specifically, it refers to the way that the stone reflects the light. Examples of common cuts are round, oval, princess, and pear. The cut plays a part in determining the value of the stone because some cuts are rarer and more desirable than others.
The diamond’s color is also assessed, and the appraiser will assign it a letter on the GIA color scale, with D being the most colorless and Z being the most color tinted. Color is the second biggest determination of a stone’s value after its cut, and the less color a diamond has, the more valuable it is.
The clarity of a diamond refers to the diamond’s lack of imperfections or inclusions. The fewer imperfections or inclusions a diamond has, the more valuable it is. Diamond clarity is graded on a 6-point scale ranging from Flawless (FL) to Included (I).
Carat refers to the weight of the diamond — and often, as a result, the size of the diamond. The more a diamond weighs, the more expensive it is. Carat is one of the most common terms surrounding diamond value, but it’s only one of several factors necessary for determining its value.
Secondhand diamond value
Whatever your diamond’s appraised value is, its secondhand resale value is, unfortunately, almost guaranteed to be less. This is because diamonds are similar to cars in that their value drops as soon as they’re purchased. In fact, most pre-owned diamonds will be worth approximately 33 percent of their original price.
The main exception is if the diamond is part of vintage estate jewelry purchased many decades ago. In this case, it’s possible that the rise in diamond value over time may offset the depreciation and result in the piece being worth more than its original retail cost.
Seasonality and diamond resale value
Seasonality is an important component of the diamond retail industry since there are several times throughout the year when consumers are more likely to be looking to buy diamond jewelry. The three largest diamond-buying occasions are Valentine’s Day, Mother’s Day, and Christmas.
If you’re looking to sell jewelry this year, it may be beneficial to wait until several weeks before these holidays, when diamond buyers are looking to increase their stock levels of diamond jewelry. However, keep in mind that most consumers will purchase their diamonds from a retail store, not a secondhand jewelry buyer, and so the value for secondhand diamond jewelry will not be as greatly affected.
Diamond value market trends
Apart from the popular diamond buying seasons each year, there are also general trends for diamonds that cause the market value to fluctuate over the years. Since these can’t always be predicted, it’s advisable that you keep track of the market price of diamonds to spot the best time to sell.
In general, try not to sell during a price drop, and sell right away if you notice the market peaking. The long-term price trend for diamonds is positive, so the longer you hold onto your diamond, the more you’ll generally be able to get for it. However, if you need to sell soon, keep your eye on short-term market trends to maximize your cash.
Deciding the best time to sell your diamond jewelry can be a strategic and emotional matter. When it comes to sentimental vintage estate jewelry, only you know when it’s the right time to let it go. If you’re not yet ready to part with your diamond jewelry forever, consider a collateral loan from Watch & Wares. You can get the cash you need same-day while still retaining your diamond jewelry in the long-term with repayment of the loan.
If you’re ready to sell your diamond jewelry altogether, we can help with that too. We have 30 years of jewelry lending, buying and selling experience, and our staff is comprised of some of the most experienced professionals in the industry. Our team has worked for prestige names like Tiffany & Co., and we guarantee a luxury diamond selling experience with each visit. To receive an estimate for your diamond’s value, give Watch & Wares a call at (714) 633-2030 or fill out our online contact form today. You can also stop by our Orange, CA location Tuesday through Saturday from 10 a.m. to 4:30 p.m. We look forward to working with you!