Copywriter Frances Gerety coined the phrase “A Diamond Is Forever” for De Beers back in 1947, and it solidified the rising popularity of diamonds as the ultimate symbol of love. Unfortunately not every marriage proposal has a happy ending and sometimes it is necessary to sell our most treasured diamonds and jewelry items.
I can tell you from personal experience that the reason why you have to sell your diamond engagement ring, favorite luxury watch, or other personal property doesn’t really matter, the experience still sucks. When my wife and business partner passed away in 2005 and there was an estate to settle, I sold off lots and lots of stuff that I really didn’t want to part with, but that’s just the way the cookie crumbled.
Ultimately I justified the experience by convincing myself that all of the stuff that I ended up selling was “just stuff” and that it had served its purpose, this included my late wife Robin’s personal jewelry and my own. Even though I was in the jewelry business, the business was frozen in time for eight long years due to litigation brought by her family in what could only be described as an attempt at a hostile takeover. Long story short, I won the lawsuit, but ended up selling most of our personal assets off for considerably less than the market value.
While it might seem strange for me to share my personal experience with a complete stranger, the reality is that my doing so might provide you some sort of comfort or enlightenment if you find yourself in a situation where you have to sell your diamonds, jewelry or other personal property. Sometimes it just helps to know that somebody else has travelled the path before you, encountered difficult circumstances and survived, even prospered and grown as a result of the experience.
There is no shortage of places to sell your diamonds, fine jewelry and watches, my favorite of course is WP Diamonds because they seem to offer a fair price and PAY FAST, which is what you really want when you’re faced with having to sell your personal jewelry.
If you’ve got time on your side, one of the more popular options is Diamond Bistro, but I have to tell you that I’ve listed tons of jewelry for sale there and never even got a bite. The reality is that selling diamond engagement rings and other fine jewelry online can be time consuming, and there are no guarantees that they will actually sell, and then there is the hassle and risk of accepting payment from somebody who you don’t know and shipping the jewelry to a complete stranger.
You can always try to sell your diamond engagement ring and fine jewelry to a local jeweler or pawn shop, but in my experience this is probably the worst option in terms of your being paid anything reasonable. One of the reasons is that most jewelry stores lack any sort of significant turnover of inventory, and thus they are going to pay as little as possible for your piece of jewelry because they have no idea how long it is going to sit in their display case.
If you purchased a Crafted by Infinity Diamond from Wink at High Performance Diamonds, you can always take advantage of their lifetime buy back program which pays 80% of the purchase price. Brian Gavin has also been known to buy back their Brian Gavin Signature Diamonds from time to time, but I don’t remember the percentage at the moment.
If selling your diamond back to the original vendor is not an option, then you might consider WP Diamonds, they buy diamonds, fine jewelry and watches. In my experience they pay more than most local jewelry stores and pawn shops are willing to pay, and they are an established name in the diamond and jewelry industry. They pay promptly as agreed, and you can always reject their offer if you decide that you don’t want to sell your jewelry for what they are willing to pay.
People tend to base the value of their diamond engagement ring and designer jewelry upon the sentimental value, but in the real world diamonds and jewelry are a commodity. And as such, it is worth whatever somebody is willing to pay for it, I realize that this might sound harsh and I suppose that it is, but it is the harsh reality that I myself had to come to grips with when I had to sell off the personal assets and jewelry that Robin and I had built up over the life of our marriage.
The only thing that sentiment brings to the table when it comes to selling diamonds and jewelry is lost time and regret, you can take my word for it, or you can learn this hard lesson on your own, such is the nature of life. At the end of the day, selling your used diamonds and jewelry is about freeing up some capital that will make your life easier.
Get in touch with them. Provide them with as much detail as possible about your diamond engagement ring, designer jewelry, or luxury watch. Fax or email them a copy of the appraisal and diamond grading report if you have it. They’ll provide you with an estimate of what they are willing to pay, subject to inspection of course, and they’ll even help you ship the item to their office… it doesn’t get any easier than that.