Selling diamond jewelry allows you to get the cash that you need when you need it. Whether you're trying to keep afloat with your monthly bills or you simply want some extra spending money, now is a great time to sell diamond rings, bracelets, necklaces, and earrings. As diamonds don't have an objective monetary measure like gold or silver, it is easy for inexperienced jewelry sellers to get confused or overwhelmed. Before you make a major mistake, review the following selling tips.

Get an unbiased appraisal

A friend or family member may have told you that your diamond jewelry is valuable, but that doesn't mean that it's worth anything. Seek out a qualified appraiser who doesn't buy or sell diamonds to get an unbiased opinion of the diamond's characteristics and condition. Using a professional diamond buyer or a pawnbroker is also a great option for a less expensive piece.

Set a realistic price

Once you have an appraisal, you'll have a good idea how much the diamond will command in a specific market. Your appraiser should be aware of the current market trends and can help you determine the potential resale value. You can also research prices on eBay and in jewelry stores.

Look into the varying selling options

There are two primary options for selling diamond jewelry: selling it to the jewelry industry and selling it to the public. Selling jewelry to someone in the industry, such as a pawnbroker, diamond dealer, or jeweler can save you a lot of time and hassle. It's important to choose someone that you can trust. Typically you'll make more selling to the public if you're willing to find the right venue and buyer. Consider Craigslist, eBay, and I Do...Now I Don't.

Make sure that you're prepared emotionally

Diamonds often represent love or passion, which can make it tough to part with them. Leaving emotions out of selling is key for any successful sale. While a diamond may be one of your prized possessions, a buyer won't want to pay top dollar just because the jewelry has a story attached to it.

To learn more about selling jewelry in Phoenix, including diamond jewelry and other high end pieces, contact Ralph Mueller & Associates. We pay the highest prices for diamonds as well as gold and platinum jewelry in the state of Arizona.