This blog post will focus on the gap between buying and selling diamond jewellery as a private client.
These are the main topics:
- Where did you buy your old jewellery?
- When did you buy your old diamond jewellery?
- To whom are you selling your old jewellery?
Sometimes in life we are faced with the need to sell our old diamond jewellery. The reasons for selling them are various but in all the cases this fact is true – more than often you will not get back what you paid for when you bought them. Still, some items will preserve their value or in some cases, if bought well, will be worth more.
These are some facts that might help you understand how much you can get for your old diamond jewellery.
Where?
The place where you bought this old piece of jewellery will have a big effect on the gap between the buy and sell price:
Did you buy the item from a super brand? If so you paid a hefty premium on the brand name. Unless you are able to sell to a brand lover or collector, which might be hard to find, unfortunately you will probably see a considerable gap from the buying price to the selling price.
Did you do an extensive market research and really bought well – you might see a much better return on your jewellery.
When?
Did you buy the item when the market was very high or when the prices were relatively low? In some cases this might have a very big impact on the gap between buying and selling. For example:
The gold spot price was at a very minimal level in the early 2000’s. In January of 2000 it was around 283 usd. Let’s say you bought a gold heavy piece of jewellery back then, selling it these days, for example December 2023 will get you a spot price of nearly 2000 usd. You can use the internet to check these gaps. The following screenshots are from Kitco website
Another great example is the value of natural coloured diamonds. The earlier it was bought the lower the price paid. If bought wisly… Back in the days they were not nearly as valuable as today. We saw people who bought thousands of dollars worth 5-10 times today. So when selling coloured diamonds, check the popularity of their shades these days.
What?
What is it you are selling? Is it a piece of jewellery full of small diamonds and a work of many details and hours of labour? Is it a solitaire piece where the main cost was on the diamond not the labour. The more simple the jewel is, the bigger the centre diamond is, the value was better kept. Since when a professional diamond buyer buys an old piece he is basing his offer on the materials not on expenses as labour.
Are you selling a certified diamond with an international gemological certification of high quality? Or are you selling without any documents? 1st grade certification will give you strength when you are selling. If the diamond is big and uncertified, find a buyer willing to send it to a reputable lab such as GIA for certification before making an offer. Is the diamond you are selling an old cutting technique? If so, can you have it recut? Today people prefer buying modern cut diamonds since they are more sparkling. Therefore any buyer will calculate a lower weight when offering and also the risk in recutting an old diamond.
Why?
Why you are selling your old diamond jewellery can also affect the outcome of what you get back from it. What do we mean?
Think about it, if you are selling because you need money urgently you don’t have time so you must sell as fast as possible. Sometimes time can allow you to yield a better return. For example by selling to a private person, by doing a trade instead of selling or by consignment instead of imiddiet payment. These avenues might allow you to get more for the same piece of jewellery.
Who?
Who is it you are trying to sell your old diamond jewellery to?
If you are selling a mint condition piece or a super brand item, selling to a private person might be the best option – if you are up for the hassles that are involved.
If you are trying to sell to a pawn shop – do they specialise in diamond jewellery? Do they pay for the small diamond as well? Make sure you deeply check this as we know from our clients that many of the pawn shops in Singapore are not paying for them.
Best is to sell to people who have expertise in diamonds and can evaluate them correctly. Make sure you do the market research and know who to sell your old diamond jewellery to.
Looking to sell your jewelry at the best price?
Contacts
- sales@dianochediamonds.com.sg
- +65 8904 5966
- 29 Kreta Ayer Rd, Singapore 088996
- From Monday to Friday 9:30 AM to 6:30 PM
- Closed on Public Holidays
- By Appointment Only
Contact us for a free consultation and evaluation from an expert gemologist!
Have a similar item to sell?
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Sell Your Jewellery Singapore
Official diamond and precious metal buyer in Singapore. Accredited GIA gemologists offering transparent appraisals, spectrometry testing, and immediate PayNow payout.
