How do I best sell my vintage diamonds is a question I am often asked. Well you do have a number of choices when it comes to selling vintage diamond jewelery.
Here are some points to selling diamonds that it is good to know.
Firstly you need to realize that you are unlikely to get the full value of a diamond when selling it unless you sell it privately. There is a big mark up on diamonds and if you sell one to a dealer, the person you are selling to (unless it is a private sale to an individual) will also want to make some money when they on sell it, usually to another dealer.
So it is usual, if sold to a dealer, that you will get around one third of the retail value of the diamond. Selling to a dealer is the quickest option of course. The dealer will pay you up front their price for the diamond. You will get the least amount of money however.
Selling by auction of course may net you more but, by virtue of it being an auction and subject to the bidding at that time, you may even get less. One can sell through an auction house such as Sotheby’s and this may be the best way to go, particularly if the diamond or diamond jewelry is of a high value. It will cost around 10 to 20% but they do work to get the best price on the day.
One can also sell by online auction. Here you need to establish the genuineness of the buyer to ensure that, a) they are a genuine buyer and not just bidding for fun and b) that they are actually going to pay for the diamond. It can be tricky also as the buyer has to buy the diamond without seeing it. This means that if they are unsatisfied they can return it or complain so your description online has to be scrupulously accurate.
Selling to a private individual can net a better result financially. The individual can inspect the diamond and see if it is what they want. This way can take longer and is perhaps more suitable if you are not in any hurry.
It helps, in any sale, if you have a certificate of appraisal or a valuation of the diamond (Really no one should buy a diamond without a certificate accompanying that diamond). In fact it would be good to have two independent valuations and you can keep the diamond in a bank vault or with a trusted person perhaps so that it can be inspected without being removed until the actual sale takes place. Especially if it is a large and high value diamond.
Another method of selling diamonds is by consignment. You simply hand the diamond over the a dealer or jeweler and get them to sell it for you at an agreed price. You can get more this way and of course will have to pay the dealer but, again, it can take some time this way.
There may be other ways of selling vintage diamonds but the above is a good guideline to start with.
