If you are researching where to auction a diamond ring, necklace, or earrings, Diamond Estate Jewelry Buyers can help. We have helped thousands of people around the country get fast and generous cash offers for their valuable diamond jewelry, while eliminating the substantial fees, wait, and uncertainty associated with large auction houses and online diamond auctions.
Many people believe that auctioning a diamond ring or other diamond jewelry is the best way to obtain a best cash offer for their items. Beyond traditional auction houses like Christie’s and Bonhams, there are internet auction portals like eBay and new online auctions specializing in large carat diamond jewelry.
However, if you have never tried to auction diamond jewelry, you may be unaware of all that needs to be considered when making a smart selling decision. So, let’s cover some of the important issues now and explain why thousands of clients have chosen Diamond Estate Jewelry Buyers as the best place to sell a diamond ring, bracelet, necklace, or pendant.
Auctioning Diamond Jewelry at an Auction House
Sellers who wish to auction high-brand diamond jewelry that is very exclusive and valued into the five and six figures often look toward a luxury auction house like Christie’s or Sotheby’s, who have long traditions of selling collectable diamond jewelry.
What these sellers often do not realize is that auction houses charge more than just a commission on the final sales price. There are also other associated fees which can ultimately add up to 40% of the final hammer price.
In other words, after waiting up to six months for the jewelry auction to take place, you may end up receiving only 60% of the final sale price (IF your item sells). And if your diamond jewelry does not sell for the reserve price, you will actually lose money—because you still will be charged photography and processing fees.
That is why so many sellers of extraordinary diamond rings, necklaces, and earrings choose to sell their item(s) to Diamond Estate Jewelry Buyers. We often can provide you with a generous cash offer that comes close to the final amount you might have received when auctioning your diamond jewelry through a traditional auction house—and there is no wait or hidden fees attached.
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Auctioning an Diamond Ring at an Online Auction
In the past couple years, some online jewelry auctions have emerged which promise to get you more money for your large carat diamond rings, earrings, and necklaces. It is always wise to approach these online jewelry auctions with caution.
Keep in mind that an online jewelry auction is only as good as its network of buyers–and it takes many years (if not decades) to establish a strong international network of diamond jewelry collectors and buyers.
The only online diamond auctions worth considering are those who have a deep background in precious jewels that can be easily verified. Their diamond “experts” should provide first and last names, so their credentials and experience can be assessed. And the business should be registered with the Better Business Bureau with an A rating.
Also be aware of the potential for inflated initial appraisals when dealing with online auctions that sell diamond estate jewelry. An inflated initial diamond appraisal is how an unscrupulous online jewelry auction can convince you to sell your diamond with them. The final sales price could be well below that initial diamond appraisal, and you could be on the hook for selling your diamond jewelry at that much lower price.
Check whether the auction website is publishing prices from past diamond jewelry auctions. While the auction prices you see may be higher than what your local pawn shop or jewelry store offered, it could be thousands of dollars less than what a professional jewelry buyer like DEJB would pay you for your large carat diamond ring, necklace, or bracelet.
Why is the amount so much less? This is because the vast majority of diamond jewelry buyers at online auctions are wholesale diamond dealers (buyers)–this includes those increasingly popular online auctions which specialize in engagement rings and claim to put you in direct contact with retail buyers (end users) willing to pay you more for your diamond engagement ring. The vast majority of bids at these engagement ring auctions are not from the public (individual consumers) but actually wholesale diamond dealers.
So to summarize the situation, when you deal with any online auction that claims to specialize in engagement rings or diamond jewelry, you are frequently just presenting your items to a number of wholesale dealers (buyers), who will pay you the wholesale dealer price, minus the commission and fees taken by the auction. When all is said and done, you are basically adding one more middle man between you (the seller), and the wholesale dealer (the buyer), which ends in you (the seller) getting substantially less money for your item than if you had gone directly to a high-paying honest jewelry buyer like Diamond Estate Jewelry Buyers.
How do we know all this? Because we work with clients every week who have tried for months to sell their diamond ring or other diamond jewelry via one of these online jewelry auctions–and who are shocked at how much higher our offer was compared to what they had received and almost accepted.
When you sell your diamond jewelry to Diamond Estate Jewelry Buyers, you eliminate the middle man and all of the uncertainty that comes with auctioning your item. Our owner Carl Blackburn is an internationally-recognized fine jewelry designer and one of the most trusted buyers of diamond estate jewelry in the country. He and his team bring 50+ years of combined expertise to the table when purchasing your large carat diamond rings and jewelry. We tell you exactly how much your diamond is worth (explaining in detail how we have arrived at that price). And we pay you immediately in cash.
Should I Auction My Diamond Ring on eBay?
When it comes to auctioning diamond jewelry and fancy diamonds on eBay, this generally works best only for those who are established fine jewelers who have bricks-and-mortar businesses.
There are simply too many fake pieces of diamond jewelry on the market. Thus the potential for fraud is too great for most buyers to risk spending thousands of dollars on an diamond ring, necklace, or earrings on eBay—even with the increasing safeguards that eBay has put into place.
Sellers should also take into account the hassle and time involved in setting up a proper and professional looking eBay listing for their diamond estate jewelry—including quality photographs, well-written text descriptions, etc.
In contrast, selling your diamond jewelry to Diamond Estate Jewelry Buyers is very easy and fast. By using our highly-secure Sell My Diamond From Home service you can be guaranteed a fair and prompt cash offer for your diamond jewelry and loose diamonds, while having complete confidence in the security and confidentially of the process.
What About Selling My Diamond Ring via an Online Broker?
Selling your diamond ring to an online diamond broker is similar to selling your diamond jewelry via an online auction. The diamond broker states that they will help you sell your diamond ring by putting it up for sale within their exclusive network of diamond dealers, who supposedly don’t deal with the public. You can then choose to accept or refuse these bids. If you accept the bid, the the diamond broker subtracts their commission (usually around 10%) from the final sales price.
While these types of online diamond brokerages can look like a great way to sell your diamond ring, keep in mind what we said earlier about professional online diamond auctions. The amount of money that you will receive is entirely dependent on the number and the quality of the diamond dealers who are making the bids on your diamond ring. It is easy to take advantage of clients who don’t understand the true resale value of their diamond ring.
If you were to see a cash offer that is several hundred dollars more than what you received earlier from your local fine jewelry or pawn shop, you likely would quickly accept the offer, believing that your made a great deal—not realizing that you likely could have gotten even more money by selling your diamond ring to Diamond Estate Jewelry Buyers. Let us help you sell your large carat diamond ring and other estate jewelry today. Call our friendly and knowledgeable staff to arrange a free, no obligation, appraisal of your valuable diamond.