But before selling your diamond ring or other jewelry, learning its value is essential to ensure that you receive its full second-hand value. Keep reading as our luxury jewelry experts explain what your jewelry is worth and how to sell for the best price.
Get the answers to the following:
- What is my jewelry worth?
- Jewelry retail price vs jewelry resell price
- Factors that impact the value of your jewelry
- Best place to sell jewelry
What Is My Jewelry Worth?
When selling diamond or designer jewelry, you can expect to receive 20% to 50% of the original purchase price. The exact percentage you will receive is dependent on various factors such as: brand, condition and market demand.
It is important to note that you do not need to meet with an appraiser or receive an insurance appraisal. Why? Because they will charge for their services and provide a highly inflated value meant for insurance purposes only. It is not indicative of your jewelry’s second-hand value and is not a cash offer that they will honor.
Getting the value of your fine jewelry is a complex process that is best done by a luxury jewelry expert. This can be done remotely and free of charge. So what is your jewelry worth? Click the button below to receive an honest and competitive price quote for your jewelry.
Jewelry Retail Price Vs Jewelry Resell Price
As a first-time luxury jewelry seller, discovering that you will receive 20% to 50% of your jewelry’s original purchase price can come as a shock. It is important to understand the difference between retail price vs resell price:
- Retail price: The retail price is how much you originally paid for your jewelry. Diamond expert, Jacob Worth, went undercover at popular luxury jewelry stores to uncover the exact markups on their diamond jewelry. Worth discovered that these luxury stores sold diamond jewelry with markups ranging from 250% to over 300%.
- Resell price: The resell price is the amount you will be paid when selling your jewelry on the second-hand market. Just like driving a new car off the lot, the moment you step out of the store with your new jewelry, its value drops. Even if you never wore the jewelry or kept it in pristine condition, it will still experience a price drop of 20% - 50%.
Factors That Impact The Value Of Your Jewelry
The value of your jewelry is based on multiple factors, including market demand, style and condition. To get an accurate online estimate of your jewelry’s worth, be sure to know the following about your jewelry:
- Brand: Certain luxury brands such as Cartier, Tiffany and Van Cleef better hold their value on the second-hand market.
- Collection: Popular collections such as Van Cleef & Arpels’ Alhambra or Bulgari’s B.zero1 collection have strong demand.
- Metal: Luxury jewelry is made in an array of precious metals such as 18k gold, platinum, sterling silver and titanium. Indicate your jewelry’s exact metal type.
- Gemstones: Your jewelry may feature gemstones such as diamonds, sapphires, rubies or pearls. Specify your jewelry’s gemstones and their respective carat weights.
- Condition: Jewelry that has been well cared for will be worth more than damaged jewelry.
- Box and Papers for Designer Jewelry: When purchased, your piece of jewelry came with box and papers from its respective brand. These are valuable to collectors and will increase your jewelry’s value. It also helps as you can reference the paperwork for information on your piece.
- Diamond Certificates: Selling an engagement ring or other diamond jewelry? Your diamond jewelry may been sold with a certificate from a diamond grading lab such as the GIA. This report will confirm the qualities of your jewelry’s diamonds and increase its overall value.
What Is The Best Place To Sell Jewelry?
There are a plethora of luxury jewelry selling options available to you. While you can submit your jewelry to auction, make a private ad or consign it with a local jeweler, these have their downfalls. These are long processes that can require months of waiting without the guarantee of sale.
While selling gold plated jewelry, gold chains or other scrap jewelry may be a good option for pawnbrokers, that is not the best option for selling luxury jewelry.
The best solution is to skip the middleman and sell directly to the luxury jewelry experts. myGemma was founded in 2012 by industry veterans to provide a high-end experience for selling luxury jewelry.
Why Sell To myGemma
- High-End Selling Process: Our mission is to make selling your luxury pieces as seamless and enjoyable as possible.
- Expert Staff: Our GIA trained gemologists have decades of experience and understand the intricacies of the second-hand luxury market.
- Dedicated Client Manager: You will be paired with a dedicated client manager. They will walk you through the selling process and answer all of your questions.
- International: Every day we work with hundreds of clients across the world. We offer appointments in New York, the UK and Hong Kong.
- Sell Online or In Person: We offer the convenience of selling online or in person.
- Secure: We provide clients with a free, fully insured, trackable and overnight shipping label.
- Free: Our service is entirely free, even if you decline our offer. There are no fees or commissions deducted from your final price.
- Fast: We buy your jewelry directly and the entire process can take as little as 24 hours.
- Trusted: We are proud of our A+ rating with the BBB and hundreds of excellent customer reviews.