If you are researching where to auction a ruby ring, Diamond Estate Jewelry Buyers can help. We have helped thousands of people around the country get fast and generous cash offers for their valuable ruby rings, while eliminating the wait, uncertainty, and substantial fees associated with large auction houses and online jewelry auctions.
Many people believe that auctioning a ruby ring is the best way to obtain a best cash offer for their items. Beyond traditional auction houses like Christie’s and Sotheby’s, there are internet auction portals like eBay and new online auctions specializing in fine jewelry and precious gemstones such as Burmese rubies.
However, if you have never tried to auction ruby 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 ruby ring and expensive gemstone jewelry.
Auctioning a Ruby Ring at an Auction House
Sellers who wish to auction a high-brand ruby ring that is very rare and valued into the five and six figures often look toward a luxury auction house like Christie’s or Bonham’s, who have long traditions of selling extraordinary jewels.
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 auction to take place, you may end up receiving only 60% of the final sale price (IF your item sells). And if your ruby 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 ruby 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 ruby jewelry through a traditional auction house—and there is no wait or hidden fees attached.
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Auctioning a Ruby 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 ruby rings 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 ruby jewelry collectors and buyers.
The only online jewelry auctions worth considering are those who have a deep background in precious jewels that can be easily verified. Their ruby “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 ruby jewelry. An inflated initial ruby appraisal is how an unscrupulous online jewelry auction can convince you to sell your ruby with them. The final sales price could be well below that initial ruby appraisal, and you could be on the hook for selling your ruby jewelry at that much lower price.
Check whether the auction website is publishing prices from past ruby ring 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 precious ruby ring.
Why is the amount so much less? Because the vast majority of ruby ring buyers at online auctions are wholesale ruby dealers who will pay you the wholesale dealer price for your ruby jewelry, minus the commission and fees taken by the auction. When all is said and done, you are basically adding one more middle man (i.e. the auction) between you and the wholesale ruby buyer, which ends in you getting substantially less money for your ruby ring than if you had gone directly to a high-paying honest ruby jewelry buyer like Diamond Estate Jewelry Buyers.
How do we know all this? Because we often work with clients who have tried for months to sell their ruby rings via an online jewelry auction–and who are shocked at how much higher our offer is compared to what they had received and almost accepted.
When you sell your ruby jewelry to Diamond Estate Jewelry Buyers, we eliminate the auction middle man and all of the uncertainty that comes with trying to auction ruby jewelry. Our owner Carl Blackburn is an internationally-recognized fine jewelry designer and one of the most trusted buyers of ruby estate jewelry in the country. He and his team bring 50+ years of combined expertise to the table when purchasing your large carat ruby rings and jewelry. We tell you exactly how much your ruby is worth (explaining in detail how we have arrived at that price). And we pay you immediately in cash.
Should I Auction My Ruby Jewelry on eBay?
When it comes to auctioning Burmese rubies and ruby jewelry 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 ruby jewelry on the market. Thus the potential for fraud is too great for most buyers to risk spending thousands of dollars on an ruby ring or necklace 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 ruby estate jewelry—including quality photographs, well-written text descriptions, etc.
In contrast, selling your ruby jewelry to Diamond Estate Jewelry Buyers is very easy and fast. By using our highly-secure Sell My Ruby From Home service you can be guaranteed a fair and prompt cash offer for your ruby jewelry, while having complete confidence in the security and confidentially of the process.
Let us help you sell your ruby ring and other estate jewelry today. Call our friendly and knowledgeable staff to arrange a free, no obligation, appraisal of your valuable ruby.