General Question

Jeruba's avatar

How do I sell a pair of diamond earrings?

Asked by Jeruba (51636points) 2 weeks ago

They were new in Dec. 2019, bought for $550 (with appraisal papers), and worn only a couple of times before there was nowhere to go. Now I’d rather have the cash. How do I sell them?

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8 Answers

Patty_Melt's avatar

You have a wide variety of options. Where you live could make a difference what choice you make.

Auction house – auctions, like the stock market, are highly speculative. You might do quite well, but maybe not. A solid, successful auctioneer knows their regulars pretty well, and can give an idea of y ok it chances, but none worthy of their profession will make a verbal guarantee.

Pawn shop – if you want more than twenty percent of its value, stay away from pawn shops.

Jewelers – some will sell on consignment, but that is rare. All I know about selling to a jeweler is, some are honest, some are not. For instance, they might try to point out a non existent inclusion, trusting that you don’t understand and will accept their word.

You could try selling it yourself. Most areas these days have at least one source on facebook for buy, sell, and trade. There are also eBay, and Amazon. For either of those there would be a few.
The big problem to watch out for when selling it yourself, is thieves looking to take it from you. They will pretend interest, and when you show it to them you could be robbed.

Whatever method you choose, up your price a bit, so when a buyer succeeds in talking you down, it won’t be too bad.

jca2's avatar

A friend has bought a few diamond jewelry items second hand, from shops.

If you are going to sell in person, one idea I have is to agree to meet in front of the local police department. The police might not want the public entering the building unless you have police business (due to the Covid), but if you could get the buyer to agree to meet you outside the police building, there would be less chance of the person wanting to rip you off since there would definitely be cameras watching and police milling about. You might even be able to get a cop to stand with you for a few minutes while you conduct the transaction.

KNOWITALL's avatar

Facebook marketplace is pretty popular, and tgere are many city-specific sale pages too. We do meet in public places for safety.
For a valuable item its a little trickier as so many con artists are out there. Be careful.

canidmajor's avatar

When I had a ring appraised a few years ago for insurance purposes, I called that appraiser the following year and asked what would be a good way to sell. I don’t remember the reply, the point was that the appraiser was a good source of info.
I didn’t end up selling the ring, or I would probably remember more info, sorry!

AK's avatar

Jewelry is tough to sell secondhand online. Even new jewelry is difficult to sell. The best option for you is to check with your close friends circle, maybe on facebook or insta and see if anyone wants to buy it from you. Second option is going to be your local jeweler or pawn shop. You’re not going to get a great price from either of those places but they’ll surely buy from you instantly (since you said you had the appraisal papers with you). Don’t list it on auction sites and marketing platforms. Regular buyers prefer to buy from branded online shops or directly from the offline jeweler…people who bid on your earrings could be of dubious intentions.

KRD's avatar

Try selling them at a jewelry store.

Jeruba's avatar

I tried taking them back to the jewelry store they came from, a shop I have visited many times over the years, from sizing of my wedding ring to replacement of my watch batteries. The owner said it was too late to accept them as a return, but I wasn’t trying to return them in the usual sense. I just thought he would be my best bet because he knew exactly what they were and had signed the papers.

With the helpful responses here (thank you), maybe I will go back and ask if he would be willing to buy them, or if he can advise me on how I might sell them. Would it make any sense to ask if he could connect me with a possibly interested customer? He could take almost whatever cut he wanted and I wouldn’t object.

KRD's avatar

Maybe try a pawn shop.

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