How do I Sell My Diamond Ring And Other Diamond Jewellery

Most advertising campaigns by De Beers feature their famous slogan “A Diamond is Forever.” Consequently, women rarely sell a diamond and often feel uncomfortable buying diamonds previously owned by other women. There is a sentimental aspect to diamonds that is the very opposite from other tangible assets like boats, houses or cars. However, there are times when people need to sell their diamonds and, unlike the used car market, there is not a well-developed method for consumers to sell their diamonds.

As a consumer, you face some difficult challenges maybe not faced before when trying to get the best price for your diamond in a safe and comfortable manner. The starting point is to know exactly what you are selling. This is much easier if the diamond has a grading certificate from a major laboratory like the GIA, HRD or EGL. You have a better opportunity if there is a formal grading report. In the instance you don’t have one, you should find an independent evaluator who can determine the diamond and assess its quality and possible value.

Once you know your diamond’s specifications, you can find the up to date retail asking price by ascertaining with online retailers to see what similar diamonds are selling for in today’s retail market. It is unlikely you will be able to get the going retail price for your diamond. Selling your diamond at 80% to 90% of that amount would make it sell faster. Be realistic and honest about your expectations. The lowest cost online retailers, not the expensive jewellery shops with double the price, set the value of your diamond.

You now know your target price and simply have to decide how to find the correct buyer for your diamond. There are several possibilities available to sell your diamond and you need to decide which is best for maximising your money and safety while minimizing your time and effort.

Your first idea might be to travel to the nearest jewellery shop or pawnshop and sell them the diamond. The key to remember here is that they do not need your diamond. They can get all the diamonds they want at wholesale prices from their suppliers. The only reason they will buy your diamond is if the price is a fraction of the wholesale price. They hope you need the money desperately enough to take 25%-50% of what you could be getting for your diamond elsewhere. They might offer you a little more if you “upgrade” to something they have in their stock. However, this often results in you paying more for the new diamond and receiving less for your diamond than if you sold it elsewhere.

Several online brokers specialize in buying diamonds and estate jewellery from consumers. They typically have you ship the diamond to them so they can determine the amount they will pay you. Pretty much like the cash for gold scandal. All too often, this amount is much less than their preliminary estimate so you must either pay the return postage, or accept their price. If your main priority is getting money fast, this is a valid option. If your main priority is getting top dollar for your diamond, there are better selling methods available to you.

Auctions like eBay are very common for selling jewellery items but there is so much low quality jewellery listed, it is hard for potential buyer to find your quality diamond. You are competing with jewellery retailers whose entire business is selling on eBay so they are experts at writing the descriptions (often with exaggerated quality), taking impressive pictures and shipping their items. Even if a bidder does find your item, the odds of getting your target price are slim to nil because other retailers are advertising items with similar descriptions for about half the amount you want. Notice I did not say they are advertising similar quality, just similar descriptions. Do a search for diamond rings with GIA grading reports and you will see the vast majority of diamond rings have paperwork from sources you have never heard of before.

Other effective ways to find a buyer are classified ads in local newspapers and bulletin boards at church or work. The challenge is reaching enough people to find at least one buyer willing to pay your price. You have to be careful when doing this kind of transaction, especially if selling to a stranger. Do the transaction in a safe place and be sure you have a valid form of payment. You do not want to hand over your diamond and end up with a phoney cheque or counterfeit pound notes.

Some jewellery shops and online retailers will sell your diamond on consignment. Online retailers with a local presence have an advantage in that they have large numbers of diamond shoppers on their website plus walk in traffic that can see your diamond in person. They also have lower overhead and prices so you can get a bigger share of the selling price. With jewellery shops often marking up prices over 100%, your share is likely to be less than half of the selling price.

Be sure to get a written description of the item you are giving on consignment and the minimum amount you will accept for your diamond. All too often sellers are not being able to get their jewellery items back from a store or only receive a fraction of the amount they expected from the sale. However, if you have patience and a low priced, trustworthy retailer to broker your diamond, you have an excellent chance of getting an excellent price for your diamond without the hassle and safety issues of selling it yourself.

If you do have any diamonds or other jewellery to sell, then please do call us for a free consultation in our central London office and we would be glad to try and help you. Our details are on the main page of he Joseph Sterling website.

Lewis Malka is a recognized expert in making diamond rings as well as being a famous jeweller to the stars. All his blogs are his own opinions. He is a member of the London Diamond Bourse (LDB). You can follow him daily on Facebook and Twitter. 
If you would like any bespoke jewellery made, then please visit his website.

Top 10 Signs He Is About To Propose

How to crack the case on your boyfriend proposal plans!!  

You and your girlfriend have discussed the “M” word – marriage – and are ready to take the next step. So, what are you waiting for? The proposal, of course! With the most romantic day of the year – Valentine’s Day – approaching, women all over the country are anxiously awaiting the proposal of their dreams. In fact, according to proposal experts, approximately 24,000 proposals happen on Valentine’s Day each year. As you mentally plan your emotional acceptance and continue your regimen of weekly manicures, don’t forget to observe your boyfriend’s behaviour for definite clues that “the question” is coming.

Is He Sending Signals?
According to experts, women often witness unusual behaviour from their boyfriends just prior to marriage proposals. These people have researched more than 10,000 proposal stories and have spent years in the industry advising men on popping the question. Now, after reading this, I have compiled a list for you - from getting a new credit card to befriending with your dad — that may signal that your boyfriend is gearing up for the engagement:

So here are my top 10 signs he is about to propose. 
1. He’s cleaning his closet: If your boyfriend is finally tossing out that “private” box of mementos from former girlfriends, he is letting go of his past and is ready to focus on the future with you.

2. He’s sizing you up: Your favourite ring is missing and your best friend has been asking the size of your finger. Chances are your boyfriend is doing some investigating before visiting the jeweller.

3. He’s cutting costs: Dates have gone from gourmet dining to drive-through dinners — if your boyfriend is suddenly a miser; he may be saving up for the special day.

4. He goes for the gold: You spot your boyfriend flashing a shiny new gold card — many men open credit cards with higher spending limits to make the expensive ring purchase and snag some frequent flyer miles in the process.

5. He’s on the “We” channel: If his conversations no longer start with “My” but with “Our,” he is definitely ready to move out of singlesville.

6. He’s family oriented: Your boyfriend is enthusiastically organizing a get-together with both of your families. An anxious interest in “meeting the parents” is a true sign he’s ready for the next step.

7. He’s watching weddings: You attend a friend’s wedding and are shocked at your boyfriend’s commentary on the music, flowers and food. Even more surprising — he encourages you to catch the bouquet! 

8. He’s letting go of “The Bachelor” inside: He’s sold his scooter and cancelled his weekly poker games — a mature lifestyle change means marriage is sounding more meaningful to him than ever before.

9. He’s a man with a plan: Your socially laid-back guy suddenly insists on prior plans, and instead of waiting until Friday night to plan your weekend, he’s making arrangements Tuesday or earlier … he may have a certain social “engagement” that he doesn’t want you to miss. 

10. He’s your dad’s new golf partner: If a close connection has developed between your dad and your boyfriend it’s more than likely that they’ve had “the talk”. Good luck!!

Lewis Malka is a recognized expert in making diamond rings as well as being famous for being a jeweller to the stars. All his blogs are his own opinions. You can follow him daily on Facebook and Twitter. 
If you would like any bespoke jewellery made, then please visit his website.

www.joseph-sterling.com | lewis@Joseph-sterling.com

You’ve just got engaged! High Street or Bespoke ring?

Believe it or not, the hardest part of the engagement is proposing! Well for the groom it is. All the planning and preparation has gone according to plan, and if that didn’t include the ring, the fun is about to begin. Where should you start though? In my experience the bride-to-be has had her sights set on her dream ring since she was able to dream. The groom has just realised that he should have proposed with a ring and saved himself a potential headache.

So is the next stop the High Street or a Bespoke jeweller?

Well here would be my reasons for going to the High Street: 

1. You are in a rush and don’t have the time to wait for a bespoke piece.
2. You don’t want the added pressure of researching and running from one shop to another. 
3. You want to keep it simple and don’t want a fussy design. For you it’s about the diamond and not such an elaborate and  complicated design. 
4. You’re not sure what you want! By shopping around and trying on different rings, you get a better feel of what suit’s you best. 

And here are my reasons for choosing a Bespoke piece:

1. You want something individual and unique. It’s something you will wear for the rest of your life and you want it to mean something. 
2. You have something specific in mind, and you won’t be able to find it in any High Street shop. 
3. She knows what she want’s, and this is not the time to have your first marital argument. 
4. You want to make sure 100% that the metal and the diamonds are sourced from ethical mines. This is a great way to find that out for your specific ring. 
5. You may have been left an heirloom from a grandparent, and want to reuse the diamonds from that ring, or just have it re-sized.

So you have thought these things through, all that leaves is the cost. How does this differ? Well if you are on a tight budget, you should start by looking in the High Street. They have rings that start at a few hundred pounds. As a bespoke jeweller, I wouldn’t be able to match that, however the more you spend with me, the greater the saving made versus the price of the High Street. It’s a win win situation. 

Lewis Malka is a recognized expert in making diamond rings as well as being famous for being a jeweller to the stars. All his blogs are his own opinions. You can follow him daily on Facebook and Twitter. 
If you would like any bespoke jewellery made, then please visit his website.

www.joseph-sterling.com | lewis@Joseph-sterling.com