When you purchase jewelry or watches you may never think that one day you might want to sell it and get something new. But when that day arrives you start thinking, where am I going to sell?
Well you have several options. You can go to a jewelry retail store, a pawn shop, sell online on eBay or Craigslist, or go to Circa (a known buyer of jewelry).
There is a 60% spread that exists in the jewelry industry from when you sell your piece to when a consumer purchases that piece. By the time the consumer purchases, your piece has touched at least 2 to 3 hands.
We sent our undercover team out to see what you might receive trying to sell two diamond rings.
Meet Pam (true name kept undisclosed). Pam bought two diamond rings for a total of $2,700. She brought both rings to an appraiser that gave her a price of $1,750 wholesale with a retail value of $4,320. She now wants to sell her two diamonds rings so she visited with several places. Let’s see what she received.
Pam didn’t want to sell on eBay as it required too much work and she didn’t want to have to wait a while before it actually sold. Pam knows that receiving an amount back that is at least wholesale would be fair. All of her options gave Pam up to 70% less. She paid $2700 and the most she was getting back was $1250!
Our suggestion is to negotiate and not take the first offer you receive. We understand that the process can be grueling, especially when you are selling something you cherish. Go to a trusted and reputable source that knows the real value of your jewelry and watches so that you get the fair value back for your items that you deserve.
For any tips on selling back jewelry or watches, contact us anytime at support@TrueFacet.com