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Élan Diamond Group | Atlanta, GA | Estate Jewelry & Luxury Watch Blog

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Sunday, 08 October 2017 11:16

The Right Way to Sell Used Diamond Jewelry

In the past year or so, diamond prices in China and India have soared. One result is that jewelers in North America are now purchasing more diamonds from the public than ever before. What this means to you is that the market is extra ripe right now. So, if you’ve been thinking about selling diamond jewelry, now would be a great time.

Diamond

However, if you’re like many people venturing to sell their diamond jewelry, you’re doing it for the first time. It can be difficult to know how to approach it. Where do you go? What do you need to know about your items? Here are some things that will help you get top dollar for your used diamond jewelry.

Know Exactly What You Have

You might have a family heirloom that is worth thousands of dollars, or you might have a family heirloom that’s only worth anything because your great-great-grandma said it was. Make sure you have photos taken and take your pieces to a certified appraiser. They can evaluate your jewelry and offer an unbiased opinion of it.

Be Realistic about Pricing

Remember that your jewelry might be worth a lot of money, but it’s unrealistic to think that you’ll get fair market value for your items. Jewelry buyers want to make a profit as well, and so, they will only buy jewelry that they know they can sell it again for more. Look online for successful sales of similar jewelry to see what they were priced at and plan accordingly.

Make Sure You Want to Sell

There are few things worse than that sinking feeling you get in your gut once you’ve sold a precious piece of jewelry that you weren’t ready emotionally to sell. Along with knowing what you have to sell and having a realistic idea of what you can get for it, make sure you are emotionally ready before you start selling used diamonds in Atlanta.

Monday, 06 November 2017 10:24

How to Calculate the Value of Your Gold

Whether you need to know where to buy or sell gold in Atlanta, you need to know how much it’s worth. While the value of gold can change on a daily or even hourly basis, it can help you if you learn the basic way to calculate the value of a specific amount of gold based on the current value. Knowledge is power, and having some idea of the worth of your goods can empower you to get the best deal possible.

Gold 1

Weighing the Gold

The first step is to figure out how much your gold weighs, as precisely as possible. This means that when you choose a scale, you should try to get one that ways in very small increments or one that uses several decimal places. The more you round a number, the harder it is to get an accurate calculation. You should also make sure your scale is accurate by testing it with some item with a known weight, such as a United States coin.

Calculating the Price

Once you have a weight for your Atlanta gold, convert it into grams if it isn’t already. You will also need to know the current gold spot price, which you can find from many places claiming “we buy gold in Atlanta,” as long as it’s a reputable business. Keep in mind that the price of gold can change multiple times within the same day. Divide that number by 31.1. This is the number of grams in a troy ounce, which is the unit of measurement that gold is weighed in. Set that number aside.

Gold 2

The final piece of the puzzle is the karat of your gold. 24K gold is pure, and if you have anything less than that, you should divide that number by 24. For instance, if you have 14K gold, you’ll get .5833, if you have 10K gold, you’ll get .4167, and so on. This indicates the percentage of purity, and you should multiply it with your previous number.

Professional Assessment

Of course, it doesn’t hurt to visit professional Atlanta gold buyers for their assessment, but keep in mind that they will very likely have a biased opinion. They may skew their calculations slightly in favor of themselves, the potential buyer instead of you, the seller. However, going to one or more businesses can help you get a ballpark estimate, and it can help you get an idea of whether you did your calculations correctly.

Saturday, 04 November 2017 10:02

Appraisal: The First Step in Selling Jewelry

Before you sell your jewelry, you should always have it appraised. Why is an appraisal important, and how do you know that you're getting a good appraisal? You can continue reading below to learn more.

Jewelry appraisal

How Important Is It?

Without an appraisal, you're effectively flying blind. Even if know how much you paid for the piece of jewelry, prices and demand can change. As you know, the market fluctuates. Additionally, it's always important to remember that the appraiser works in the business of jewelry. An antique family heirloom might have a lot of sentimental value, but that will never be judged by an appraiser. Their job is simply to tell you what the piece is worth, as accurately as they can. That's going to take many factors into consideration, such as cut, quality, clarity, and current market demand, but emotion is never taken into account.

Red Flags

Some appraisers and businesses are going to be more reputable than others. That being said, there are a number of red flags than can tip you off to an unscrupulous appraiser. First, you should always be charged a flat fee for an appraisal. The value of the item should never be a consideration, so there should never be a percentage fee charged. There should also be a very clear explanation of the grading system that's being used. If you have questions about what certain terms mean, go ahead and ask. An honest appraiser will be happy to explain. Any limitations on the report you receive should also be specified. Different reports are used for different purposes, such as insurance, auctions, or retailers. Keeping that in mind, the appraiser should always ask you the purpose of your appraisal.

Where to Go

A professional and reliable appraiser is not hard to find if you know how and where to look. The Better Business Bureau (BBB) is a good resource for companies in general, but there are organizations specifically dedicated to jewelry and diamonds. The American Gem Society, GIA Alumni Association, The Jewelers Board of Trade, and the Polygon Jewelry Network are all respected and established professional organizations. If your appraiser is a member of or endorsed by one or more of these organizations, you can be assured that he or she knows the work and is ethical. Keep these groups in mind whenever you're researching where to sell diamond jewelry in Atlanta.

Thursday, 02 November 2017 09:34

How to Sell Gold for the Best Price

Commercials are constantly telling you how easy it is to sell gold and how much money you can make doing it. Is it really that simple, and how will you get the best price?

Gold

Where to Start

First, you need to know what you have. Gold is sold by karat, weight, and spot price. The karat is a measure of purity. You've heard of 14 karats, 18 karats, and 24 karats. The purer the gold, the higher the rating. For gold, 24 karats is the highest purity, which means that it's pure gold. You'll also get the highest price for pure gold. The weight of gold is typically measured in troy ounces. Spot price is a bit trickier. The going rate for gold can change from day to day, or even by the hour or minute. A buyer could offer you 10 percent of what gold is worth at the moment, or they could offer you 90 percent. There are no restrictions in place that determine what they can or can't offer. However, most reputable jewelers will offer you at least 50 percent (sometimes more) of the going rate. Keep in mind that they're in business to make money, so you should never expect to receive full price.

Who Is Buying

You should always go to an established, professional jeweler. Here, time is on your side. A dealer that has been in your area for decades has earned a reputation that they are interested in protecting and preserving. As an added bonus, they should already have relationships in the region and possibly even nationally or internationally. Making a profit off that gold shouldn't be a challenge for them at all. That means you're likely to get a better price because they know they can make their money back and some profit as well. As a general rule, you should avoid selling gold online. That's especially true if the company only has a presence on the Internet. Look for a physical location and be sure to visit it. Any jewelry company worthy of your business should have a physical store.

Whenever you're selling gold in Atlanta, be sure to ask plenty of questions. Your buyer should be happy to answer any questions that you have, and you'll be a lot more confident in the sale if you know that the jeweler is being honest and helpful. Selling gold doesn't have to be troublesome if you know where to go and what to keep in mind.

Wednesday, 01 November 2017 09:10

A Brief Guide to Selling Rolex Watches

Selling your watch may seem like a fairly easy and straightforward process, but it might not be if you want to get the best deal. It's unfortunate, but the pre-owned Rolex industry has many counterfeiters and dishonest business owners. When you first start looking for appraisals, you may notice that the estimates you receive can vary by hundreds and sometimes thousands of dollars. It can be very difficult to sort through the misinformation to find reliable help.

Rolex 1

Reputation Matters

When it comes to luxury watches and other fine goods, reputation is everything. You should always start your search by looking for established dealers who have customers, contacts, and partnerships in the industry. This helps you distinguish the trustworthy from the unscrupulous. Some local jewelry stores may have been in the area for decades, and their good name should be known without question. These locations are where you will find an appraiser that can be trusted. Of course, you should still opt for multiple appraisals to get a general idea of the range that you can reasonably expect.

You can always check with the Better Business Bureau (BBB) to get more information about a company. Additionally, you should always be hesitant to work with a dealer that exclusively does business online. Ideally, they should always have a brick-and-mortar presence available, preferably locally. Getting to know someone face-to-face can be extremely helpful. If you'll have merchandise to sell in the future, it's a good idea to already have a relationship established. Dealers tend to work with the same people time and time again, so being on their shortlist is a great way to get good deals and stay in the know.

Rolex 2

What to Avoid

As mentioned previously, most online dealers should be avoided. You probably thought about going to eBay immediately, but it's a terrible idea. Not only are you unlikely to get a fair price, but you're also unlikely to move any luxury items, including Rolex watches. There are collectibles and other items that can sell very well on eBay, and eBay has rightly earned a good reputation for moving certain types of merchandise. However, you should probably never bother posting your Rolex. Craigslist is an even worse option. It has none of the safeguards in place that eBay has, and in no way could Craigslist be considered an expert company when it comes to appraising and selling luxury watches. You shouldn't even consider Craigslist as a last resort.

Mom-and-pop jewelry businesses may be quaint and charming, but most of them have little, if any, experience with Rolex. Their appraisals will be hit-and-miss, and they'll likely have no contacts for actually moving the product. Companies that have a national or international presence are going to be much better bets, and they're far more likely to have interested buyers. They'll also have more experience with brands like Rolex. If you seriously want to sell a Rolex watch in Atlanta, you should start with established, professional companies. The rest of the process will be much easier from there on out.

Tuesday, 31 October 2017 09:45

How to Easily Sell Your Luxury Watch

Once you’ve decided to sell your luxury watch, it can be hard to know where to turn. Selling such items can be difficult, as they’re complicated pieces of machinery and you want to get the best price.

Fortunately, there are many places to sell luxury watches in Atlanta. You just have to know where to look.

Watch 1

Retailers

Selling through a brick-and-mortar retailer can be extremely convenient. Going to a dealer is easy, fast, and protects you in the event something is wrong with your watch. At retail locations, products are generally sold “as is,” so buyers know what they’re getting. However, retailers tend to pay little for watches, since they have to make money on the sale as well.

Auction Houses

Auction houses that hold auctions on upscale items can be a good resource for you if you want to maintain the value of the watch you’re selling. Sotheby’s, Bonham’s, and other auction houses all deal in watches, and cater to an audience that understands and appreciates high-end purchases. If you’re looking to sell a watch for a mint, this is a great option, especially if your watch is worth more than $10,000.

Another benefit to auctions is that you can attend the auction where your piece is being sold. It can be interesting to watch the auction process and see the buyers interested in your item.

The downside to auction houses is the long timeframe it can take to make a sale. Selling a watch through an auction house can take up to six months, so it’s not the place to sell if you’re looking for a fast profit.

Watch 2

Online resources

Selling a watch on Ebay or an online forum is a good option for someone looking to sell quickly. These places offer great exposure and show your product to thousands of people a day. You could sell your luxury watch in Atlanta in 1-4 weeks if the watch is priced correctly, making it a fast and easy method of selling.

That said, selling high-end items on the online marketplace can be difficult. Without a high seller ranking, buyers may not trust you enough to purchase a luxury item from you. Buyers are often nervous to send large amounts of money to someone they’ve never met, so you may not be able to sell your item for the high price you were hoping for.

Ultimately, luxury watch sellers have several options when selling their pieces, and only you can make the right choice.

 

Sunday, 29 October 2017 09:16

Smart Ways to Sell Your Gold

Whether you're a collector or someone who has a lot of unused jewelry or coins lying around, finding a jeweler who knows precious metals and gems and who you can deal with whenever you have a related issue can be the beginning of a productive business relationship. Here are more tips for being smart about dealing with Atlanta gold selling.

Gold pendant

Find Out Special Qualities

You will get the most out of selling gold jewelry near Atlanta if you know the quality of the metal and any special attributes that would make the piece worth more. If your piece shows evidence of a recognized jewelry designer, manufacturer, or limited-edition stamp, this may make it worth more than the sum of its parts. These special qualities will raise the value of your gold substantially.

Look for the Purity

Most people know that 24-carat gold is the most pure and valuable type of this precious and beautiful metal. A karat is a twenty-fourth part of pure gold by weight, so 24-karat gold has almost no impurities. Most jewelry and coins are considerably less pure and won't fetch the same asking price, as they won't be as rare or able to be melted into as important base material. Looking for the markings that can tell you the purity of your gold will give you an initial idea of what it's worth and how much you can expect to receive in exchange.

Meet with a Jeweler You Can Trust

It's always better to do business with someone you have an established relationship with and trust. Finding a jeweler who can buy and sell gold pieces that you don't want anymore can be the beginning of a great business relationship. When you find someone as trustworthy and upstanding as we are, you won't need to look for where to sell gold in Atlanta in the future. We hope that customers will keep coming to us again and again.

You may have various reasons for selling your diamond ring. Perhaps it holds painful memories of lost loved ones or past relationships, or maybe it's just time for something new. Whatever the reason, you couldn't pick a better time to sell your diamond than right now. While diamond prices are on the uptick, take advantage by selling your ring for cash.

Diamonds

Where to Sell

When selling a diamond ring, you have several options to choose from. The trick, however, is knowing how to pick the right buyer to make sure you maximize payout and lower your stress in the process.

Online

Websites like Craigslist and eBay are definitely options to consider. Although these sites may work for some, you need to know that they come with their own additional costs and headaches. For example, eBay has member fees, and you must ship the package yourself. Also, Craigslist is quick, but you are mainly meeting strangers with an expensive piece of jewelry, so it carries its own risks.

Auction

This is a good option if your diamond is of high value. If you have time to sit at an auction all day, you may consider finding one near you. But, at an auction, you still may not receive the full value of your item.

Private Buyers

If you can find a reputable buyer, this is most times the best way to get top dollar for your stone. A good rule of thumb is to take your diamond to as many buyers as you can find in your area and compare offers.

Finding a Buyer

Unfortunately, it doesn't come as much of a surprise that some jewelers will take advantage of customers who are uneducated on the quality of their stone. Here are some things to look for when selling.

  • Look for buyers with high Yelp and BBB reviews. A quick search on Google usually does the trick.
  • Confirm that the buyer is certified and that they use certified equipment.
  • Before entering a shop, do some research of your own to find out as much information as you can on your stone's shape, cut, and value.
  • Beware of buyers advertising exaggerated estimates. If it seems too good to be true, it probably is. Many times, buyers use this tactic just to get people in the door.

If you would like to know more about what to know when selling your diamond or would like to find places to sell diamonds in Atlanta, feel free to contact the pros at Elan Diamond Group.

How much are your diamonds worth? There are many possible answers to this question because diamonds have a tremendous range of monetary values, and it is hardly reliable to base its value on the size or color alone. Many factors determine the overall value of diamond jewelry. If you are interested in selling your diamond jewelry in Atlanta, you should know what price to expect, and value can help you estimate a price. There are 3 types of value to consider.

Bracelet

Intrinsic Value

Intrinsic value refers to the basic value of the materials in jewelry, or its components. The formula for this is: value = metal value + gem value. The metal of a piece of jewelry that holds the diamond gem in place and the diamond itself are totaled based on current market values for these precious materials. This value overlooks the style or beauty of a piece of jewelry, and essentially values it as if you were going to sell it for parts. The sell price of a diamond is based on wholesale price (based on the shape, size, color, and clarity of the diamond) modified by the grade of its gem cut. This value changes on a daily basis.

Resale Value

If you want to receive cash for jewelry, you should also consider the resale value of diamonds. Sometimes, this value can be higher than the intrinsic value of the precious metals and gems that compose the item. The formula is: intrinsic value + workmanship (the effort put into designing and crafting the piece) + style = resale value. Resale value can improve based on the popularity of a certain style (if it was recently seen on a celebrity, for example) and the reputation of its brand (Tiffany, Cartier, etc.).

Appraisal Value

Those who'd like to sell used jewelry should also learn the appraisal value of their diamonds. This figure estimates the cost to replace the jewelry. This is not necessarily a number based on the quality and pureness of the gems themselves. It is based on an insurance appraisal, which details the replacement cost of a lost, stolen, or damaged item of jewelry. It takes the retail value of a similar replacement into account.

Note that the value of a piece may be affected by its new value vs. used value. If you are interested in selling diamond jewelry in Atlanta, there are many factors that determine its value. Your best course of action is to visit a professional diamond buyer who can find an accurate value and offer you a competitive price for it.

Saturday, 22 October 2016 06:41

How to Easily Sell Your Luxury Watch

When you want to sell a luxury watch in Atlanta, GA, it can be a difficult endeavor for the average person. There are many stumbling blocks that you find when attempting to sell your watch for cash in Atlanta. It can almost seem like an impossible process at times. This article will break down all the various methods that are available to you so that you can pick the best option for yourself and sell your watch with ease.

Watch 1

Retailers/Dealers

The most obvious pick for selling a luxury watch would have to be retailers and dealers. They’re experts in luxury watches, and most people think of them first when attempting to sell their luxury watch in Atlanta. There many types of dealerships/retailers out there, ranging from local shops all the way up to enormous chains. The most prominent advantage of selling your luxury watch to a retailer/dealer is the convenience. It’s very easy, fast, and you will receive your money instantly.

This convenience comes at a cost. You will usually only receive a fraction of the value of your watch. Dealers are notorious for offering very low rates because they need to cover their overheads. This might be the quickest way to sell a watch. However, it provides the least monetary compensation for your luxury watch.

Watch 2

eBay

The next best pick would be the online auction house that everyone is familiar with. eBay has become a giant in recent times for buyers and sellers. It’s currently the largest and most reliable marketplace in the world. The advantage of using eBay is that you will get maximum exposure since customers will be directly searching for the watch you’re selling. You can, therefore, expect reasonably priced offers to come in for your luxury watch. It’s also relatively simple to put your watch up for sale and shouldn't take longer than an hour. The best practice is to include a detailed but clear description of your luxury watch including high-quality images. Potential buyers will have several options to choose from, so you have to make your specific item stand out as much as possible. You can set your price and look at incoming bids, or you can set a buy now price, which means your watch will be sold instantly if purchased.

The downsides of selling on eBay are that sellers are judged on their selling ratings and if you have not sold many items, your low rating may put off potential customers. The selling fee that eBay charges is also usually 10% of the final sale. You will receive funds within a week of the sale.

These are two of the most common methods that you can use to sell your luxury watch. Although they may seem daunting and difficult at first, you should now have a much clearer idea of how you can sell your luxury watch easily and get the price you want for it.

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