When is the Best Time to Sell Your Diamonds?
There are a lot of tricks and secrets within the jewelry industry that raise the value of jewelry significantly.
If you're an informed buyer, you know there are as many tricks and secrets you can take advantage of when selling jewelry. If you're thinking it's time to sell your diamonds, you should be informed before you trade them in.
There are many reasons people trade in their diamonds for cash. People who go through a broken engagement or a divorce may wish to liquidate evidence of the past relationship. Others inherit jewelry from a loved one's estate but just aren't the type to wear a diamond.
Whatever it is that made you want to sell your diamonds, you should know that following timing and trends is essential to getting a good return. In some cases, your jewelry may have appreciated if it was initially purchased at a good price. Here are 3 things to consider when selling your diamonds.
1. Know When To Sell Your Diamonds
There are certain buying trends in the diamond industry just like any other goods. They are seasonal and calendar based, as people are likely to get diamonds during the winter holidays or for Valentine's Day.
Diamond sales are also linked to life events like weddings, births, and anniversaries. Knowing what time of year the most births and marriages happen could help you get the most out of your diamonds.
In order to ensure that they've got enough diamonds in stock, jewelry shops will pay extra for diamonds during these periods. If you suspect that the season is right, bring your jewelry in to be appraised and see what you can get.
2. Watch Market Trends
Again, just like any other good or service, there are market trends that will determine the price of diamonds from day to day. Long-term price trends for diamonds are positive, but if you're in the middle of a market drop, your diamond might not be worth as much as it was last week.
Just like watching stocks go up and down, you can keep an eye on how the diamond market looks before you sell. While they might not grow as fast as Bitcoin or Apple stock, they could make a significant jump that could net you extra cash.
3. Know What's In style
Every few years, a certain type of diamond will be more in style than others. While a big, well-cut diamond will always be valuable, different colored diamonds won't always be in style. Large diamonds are always easier to sell but small diamonds should be sold based on trends.
Different cuts will yield different shapes. The shape of your diamond could determine how much you can get for it. Fancy or unusual shapes might yield more than the most popular shape of the time.
Color diamonds can be in high demand at different periods. Pink, yellow, and blue diamonds change in value based on what is popular at the moment.
Research Before You Sell Your Diamonds
The most important thing to do before you sell your diamonds is to research what the market looks like. This will give you the clearest idea of what to expect. Also, don't be afraid to talk to a few different jewelers before you decide to sell with one.
If you've decided it's time to trade in your jewelry for cash, contact us to get the ball rolling.
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