Whether you’re looking to sell jewelry inherited from family, let go of an old engagement ring, or simply upgrade your jewelry collection, selling jewelry can be difficult. Instead of keeping unworn jewelry in a forgotten drawer, selling an under-appreciated piece of jewelry can provide thousands of dollars in uncertain times. Nevertheless, the process of selling jewelry in Dallas can be an emotional one. Saying goodbye to a piece of your jewelry can be tough, and that’s without the added stress of trying to find the perfect buyer. How do you know where to start? You may feel overwhelmed or intimidated when it comes to selling your precious jewelry. However, it may help to begin the process with some practical tips that prepare you to sell jewelry as an informed seller.

Tip #1 – Know Your Selling Options

You have a lot of options for selling jewelry in Dallas which means it’s important to know the pros and cons of each so you can make an informed decision. The most common options for selling jewelry are pawn shops, retail jewelry stores, selling directly to a private buyer, or finding an expert jewelry buyer like Diamond Banc.

• Pawn shops are a fast and convenient way to sell. However, they typically lack the true expertise needed to properly evaluate jewelry to determine its maximum value which means the prices offered will be substantially low.
• Retail jewelry stores generally have the expertise needed to properly evaluate jewelry, so they will have a good understanding of its value. The issue you may face is that not all jewelers buy jewelry from the public. Even the ones that do, are often very selective about what jewelry they are willing to buy and simply cherry-pick the types of items they think they will be able to resell. Furthermore, many retail jewelers will only “buy” your jewelry if you’re willing to leave it with them on consignment where they sell it on your behalf and then pay you once it has sold. This means it will likely take months or even years for you to get paid for the jewelry.
• You might assume that selling directly to a private buyer through channels such as eBay, Facebook Marketplace, or other online forums will result in the highest prices being paid for your jewelry. However, these options can be challenging and very risky! You’ll be required to take high quality photos and provide accurate descriptions of the jewelry. Then you’ll have to answer numerous questions about the piece in what can seem like a never ending back and forth between potential buyers. Then most importantly, you’ll have to be careful to avoid scammers and other unsavory individuals who target private sellers online.
• The best option is to find a trusted expert jewelry buyer like Diamond Banc where you work with true jewelry industry experts in a safe, upscale environment. This will ensure every value-adding factor is taken into consideration to maximize your selling price and the process is simple and fast with funds being issued immediately.

Tip #2 – Understanding Appraisals

Many people looking to sell their unwanted jewelry assume they will need to obtain an appraisal for their items. This is a common misconception and not something Diamond Banc recommends. To understand why, you should first know the reality of what an appraisal truly is.

In order to give the impression that you received an outstanding deal on your purchase, many jewelers artificially inflate the retail replacement value on your appraisal. Moreover, a retail appraisal represents the value to replace your item in “new” condition. However, in most instances, jewelry sold in the secondary market has been previously owned and worn. The combination of these factors can cause a dramatic discrepancy between the actual resale value for your jewelry and its appraisal value.

In the jewelry retail industry, most retail insurance appraisals are approximately 2.5 times the actual wholesale cost of the jewelry. Retailers add significant margins to compensate for the operational overhead of running a business such as rent, utilities, employee labor, marketing, etc. while ensuring they continue to generate a profit.

Diamond Banc does not recommend paying to have an appraisal completed as it’s ultimately an unnecessary expense. Our expert gemologists and experienced jewelry professionals will provide the most accurate valuation of your items. We have a pulse on the pre-owned jewelry markets and utilize supply and demand in the markets to determine the value of any piece. This is all done on the spot with zero pressure and zero cost to you!

Tip #3 – Consider The Factors That Determine Your Jewelry’s Value

Like most luxury items, there are many factors that will determine the true value of your jewelry. Some of the main factors include the jewelry’s style, age, condition, quality and most importantly, demand! The overall condition and quality of your jewelry is self explanatory, high quality pieces in great condition will be worth far more than low quality pieces in poor condition. The demand for an item is the single greatest factor that contributes to its resale value. If the piece is old and the style is outdated, demand will be low and the value will suffer. Whereas if you have a newer piece of jewelry that is a current style and hard to obtain, then the demand will be much higher, as will its value.

Tip #4 – Have Realistic Expectations

The brutal truth when it comes to selling pre-owned jewelry is that you won’t get anywhere close to what you originally paid for the item. There are a few exceptions to this rule such as some high demand Rolex sports model watches or highly sought after, rare designer jewelry pieces. As a general rule, you should not expect to sell your jewelry for the same price you paid or for what it’s appraisal value states it’s worth. The simplest way to think about it is to compare it to selling a car that you bought brand new from a dealership. The second you drove it off the lot it became pre-owned and the value instantly depreciated by a significant amount. You would never expect to sell your car for the same price you paid and your jewelry is no different. Having realistic expectations from the beginning will make the entire selling process go much smoother.

Tip #5 – Work With a Trusted Expert

As mentioned before, there are many options for selling jewelry in Dallas. Finding a trusted jewelry buyer in your area with a great reputation can be the difference between selling your items for top dollar in a safe, luxury environment or getting lowball offers in a high-pressure, uncomfortable setting.

Diamond Banc is the premier jewelry buyer for the greater Dallas area. Our highly trained jewelry experts are fully immersed in all facets of the pre-owned jewelry market on a daily basis. This means we know exactly how valuable your jewelry is, and we will pay you accordingly! If you have interest in learning how much you can sell your jewelry for, complete one of our simple online forms to get the process started, or contact Diamond Banc today.

Get A Quote

The post 5 Tips For Selling Jewelry in Dallas appeared first on Diamond Banc.

The new year is here, and tidying up has become an international phenomenon. In the wake of the release of the Marie Kondo’s Netflix series, Tidying Up with Marie Kondo, the organization guru, and New York Times Bestselling Author, has taken the world by storm.  Kondo’s organization philosophy is simple:  evaluate which items make you happy. If an item fails to spark joy, let it go. Unfortunately, this philosophy becomes far more complex when evaluating inherited items that were once beloved. 

It is common to inherit cherished items that do not suit your tastes. There can be intense guilt associated with letting go of once prized possessions. Instead, we shovel these items into jewelry boxes, security deposit boxes and storage units. Over the years, these once-beloved items are forgotten, accumulating dust in overlooked piles.  

Review whether you should keep your inherited items with these three questions:

1. Do You Want the Item?

2. Where Will You Store It?

3. Will Others Appreciate the Inherited Item More than You?

You may feel obligated to hold onto an item out of guilt. Ask yourself what your loved ones would want.  Would your loved one want their items to clutter your home if they knew you were not strongly attached to it? Their generosity could enable you to purchase a new car, travel or make a down payment on your dream home. What would your loved one prefer?

The post How to Declutter Inherited Items appeared first on Diamond Banc.

Collections from four designers will be featured, along with exclusive pieces from Tiffany, Chopard and Chanel. The trunk show starts Saturday, September 16th and ends September 23rd, and will be held in downtown Columbia, Missouri. These deals won’t last long — join our expert jewelers on Saturday to shop.

Featured trunk show designers

David Yurman

Sculptor David Yurman and his wife, a painter, started a jewelry company to create jewelry that’s both a fashion statement and wearable art. David Yurman’s timeless cable-style jewelry has become his signature design and unifies every collection. Shop classic cable bracelets and necklaces at the trunk show and delicate studs and rings in colorful gemstones.

This David Yurman sterling silver and pave black diamond cable bracelet usually sells for $595. Buy it at the trunk show for just $395.

Ippolita

Ippolita was founded by an Italian artist to celebrate the best of the Italian lifestyle — color, comfort and exuberance. Every Ippolita piece is hand-crafted and one of a kind. Ippolita is known for delicate, feminine pieces that are meant to be layered with other pieces.

John Hardy

John Hardy was established in Bali in the 1970s as a partnership between local artisans and artist John Hardy. Jewelry by John Hardy embodies three values — community, sustainability and artisanship. All gold and silver is reclaimed, and for every purchase from the Bamboo Collection, bamboo seedlings are planted.

These John Hardy Dot collection earrings, made with sterling silver, 18K yellow gold and green amethyst, usually sell for about $900. Get them at the trunk show for $450.

Additional designers

The Diamond Banc Boutique trunk show will also include designs from Chopard, Tiffany & Co., Chanel and Louis Vuitton.

Look for iconic Tiffany key pendants and stacking rings that are no longer available in stores.

Can’t make it to Columbia?

If you can’t make it to Buchroeders, the Diamond Banc Boutique trunk show may be coming to a city near you. The trunk show is travelling to Diamond Banc in Texas next.

Diamond Banc buys jewelry from the public and teams with jewelry stores to refinish and refurbish pieces. That allows Diamond Banc Boutique to sell pre-owned jewelry to the public at a low price while ensuring the high quality its jewelry partners are known for.

The post Buy David Yurman, John Hardy, Tiffany 35-55% Off at Trunk Show appeared first on Diamond Banc.

Before you get a loan using jewelry or resell your jewelry, make sure you understand how your piece will be evaluated.

You’ll hear these three terms when you sell jewelry: market value, retail value and assessed value. They may sound similar, but they mean very different things. If you understand each definition, you’ll be more likely to get a good deal.

Market value

The market value of jewelry is based on the cost of labor and materials to make the jewelry. Market value is how much retailers pay manufacturers to sell their products in their stores.

The market value price is slightly higher than the cost of raw materials and labor so that manufacturers make money, too.

Retail value

Just like a manufacturer ups the price of jewelry when selling to a retailer, retailers increase the price when selling to the general public. The retail value is the cost people see online or in store.

Just like all businesses, jewelry stores have to cover their costs and make a profit. That means the retail price is higher because it covers business expenses like employee wages and marketing.

Retail value fluctuates, and is more dependent on trends, style and brand name than market value. The market value is fixed, and based on the cost to buy materials and produce the jewelry piece.

Appraisal value

Most people don’t realize there are multiple types of appraisals, and it is important to get the right type for your situation.

The most common appraisal, called an Insurance Appraisal, is the cost it would take your insurance company to compensate you for lost or stolen jewelry. That goes beyond what the jewelry is made from, and may include extra compensation for sentimental pieces or loss of an heirloom.

Many customers are confused when the resale value of their jewelry doesn’t match the appraisal value. Remember that appraisal value includes the extra costs added by the jewelry retailer and costs for special circumstances. Some pieces that are unique or nearly impossible to replace may have higher appraisal values.

Even though appraisal value isn’t an accurate reflection of resale value, bring in your appraisal papers when selling jewelry. The information on appraisal paperwork like gemstone size will help your jeweler evaluate the piece.

Before selling your jewelry, understand the resale offer you received. That way, you can make an informed decision about accepting it. Another way to ensure you get a fair price is by working with a reputable retailer.

Want to learn more about resale value?

If you want to learn more about the resale value of your jewelry, luxury watch or bullion, visit national lender Diamond Banc. Diamond Banc buys fine jewelry from the public and provides short-term asset-based loans on jewelry and watches.

Diamond Banc experts can answer your questions about resale value and tell you how much you could sell your jewelry for. 

Visit one of Diamond Banc’s locations today, or call 1-855-342-2262 for more information.

The post What’s the Resale Value of My Ring? appeared first on Diamond Banc.

Consignment Services that Stand Above the Rest

First, we are transparent and honest about the realistic value of your piece. We do not want your piece to become a “museum piece”, meaning it sits in our cases for years with no interest because the price is far too high. Second, we have the benefit of belonging to elite online selling sites, such as 1st Dibs, as well as being Power Sellers on online auction sites, such as eBay. Third, we also belong to a network of high-end estate dealers and retailers.

These connections allow Diamond Banc to reach a larger audience of individuals seeking out fine estate pieces than you could ever hope to as an individual. Over the years, we’ve built up the infrastructure to accommodate selling these items for the maximum amount. We have a professional photographer, to capture the beauty of your item. We have a dedicated and experienced online sales team to properly identify and list your piece, allowing the end consumer a detailed and accurate assessment, while offering an exceptional customer service experience.

A recent consignment piece that was facilitated through our Kansas City branch is a wonderful example of the benefits of our consignment services. Our client had a stunning 2.50CTW princess and radiant white and canary yellow diamond bangle bracelet that she wanted to sell. The cash offer on this piece was $1,200. We based this offer on the metal and diamond content as well as the current market value.

We explained our consignment services to the client and that we would be able to offer $2,150 for the item on a consignment basis. That was a 20% increase from our cash offer. She was immediately interested; who wouldn’t want the maximum return on their piece? We photographed the unique bracelet and listed it across our several selling platforms. In less than 3 months, we sold the bracelet and sent her a check the same day. Our client was thrilled that she was paid more than she had previously been offered at other stores. She was even more excited to know that another woman would wear her piece with admiration.

Have a unique high-end diamond piece you are interested in selling? Start the process today by filling out our simple SELL form on our website or stop by any of our branches for a free consignment evaluation and offer.

Stop by one of our Diamond Banc locations today:

• Boca Raton, FL
• Columbia, MO
• Kansas City, MO
• Miami, FL
• Nashville, TN
• Orlando, FL
• Palm Beach, FL
• Roswell, GA
• Tampa, FL

The post Consignment Services: Receive Top Dollar for Your Jewelry appeared first on Diamond Banc.