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Turning diamond jewelry into cash can be a tricky business. Unlike precious metals, diamonds have no consistent, quantifiable value, which makes determining the market price of your piece very difficult. Additionally, each venue you consult about selling your piece does business differently, which results in wildly different mark-ups and/or commissions. These variations in business practices translate into significant legwork for you as you seek out the best buyer for your diamond. With this in mind, if you are ready to sell old diamond jewelry in atlanta, here are a few things you need to do first:

  • Determine what you have. Just because your piece was grandma’s favorite doesn’t mean it’s valuable and doesn’t even mean it’s really a diamond. If you do not have any paperwork about the piece from when it was originally purchased, you need to get it appraised. Before you pay for an expensive appraisal, consider taking it to a few pawnbrokers or diamond dealers. They may give you a free appraisal. If you go that route, have it appraised by several shops to help you zero in on a value.

  • Clean it up. Before you pay for a professional cleaning, do some careful work on the piece yourself. A soft toothbrush and a paste made from warm water and dish soap or baking soda will usually return the luster to a piece of jewelry. Exercise caution, though, especially if the jewelry is quite old or damaged in any way. The better your piece looks, the more you will be able to get for it.

  • Be emotionally ready to part with the piece. Before you go out and try to find a buyer, make certain you are genuinely ready to sell. If you love the piece or it is a treasure, maybe selling it isn’t your best option, as you will never be satisfied with the money you get.

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Once you have determined a value for your piece, have it looking its best, and are ready to sell, you need to find a buyer. The following are 5 methods you can use to sell your piece:

  • Sell to a diamond dealer. You won’t necessarily get top dollar from a dealer, as it’s their plan to resell the piece for a profit, but the trade-off is that the process will be easier for you. Choose a dealer that you trust. They should be registered with the American Gem Society and have a good rating with the Better Business Bureau.

  • Sell to a consignment shop. You will get a better price than a dealer, but the shop will take a commission. Know the commission rates ahead of time and choose a shop with strong references, as you will need to leave your diamond with them.

  • Sell to a pawnbroker. Good pawnbrokers are hit and miss, so you will need to shop around to find one you trust that will give you a good price. The advantage to pawning your jewelry is that the process is fast. You can get cash very quickly once you make the decision.

  • Sell using an online retailer or auctioneer. There are several very good online sites that can help you get the word out about your piece. You need to take very good pictures that present your piece in the best light and you need to be patient.

  • Sell directly to the public. Eliminate the middlemen and sell the piece direct. You will get all the proceeds, but you will need to have a high tolerance for negotiation.

Get started selling your old diamond jewelry today!