Selling your Diamond Jewelry pt2

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Appraisals

For insurance purposes, fine jewelry is appraised at retail replacement value – the cost for comparable replacement in the retail marketplace. Years ago, this was a fairly easy computation since most jewelers charged about the same amount for like merchandise. Today, we see a radically different retail environment as traditional jewelers compete for sales with internet and wholesale dealers like City Diamond Exchange. This has created the potential for a large price spread, based upon your source.The benefit when you sell your diamond in Nashville to CDE is that we have sources all over the world. This allows us to work on smaller margins of profit in order to get YOU the money you want and that others wont give.

It stands to reason that you cannot sell your personal jewelry for as much as the lowest cost retailer. Why would someone pay you the same as to an established business with return or trade-up policies, services, etc? For one thing, your jewelry is used and once off the showroom floor, it deprecates. And, since you are not supporting a business – its employees, expenses and inventory – you are not entitled to the mark-up necessary to stay in business so your jewelry is what someone else is willing to pay for it. However it is because of that reason why CDE can pay your more for it. Less overhead =’s more money. This is why so many people come to see us in Nashville to sell their Jewelry.

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Tips

1. MAKE SURE YOU’RE READY TO LET GO

If the thought of trading that engagement ring from a past relationship still brings you to tears, then it’s probably time to sell it and not hurt anymore. The important thing is that you are not feeling lowdown for selling it to someone like a pawn shop. Typically these experiences are not very good and you walk away feeling very low. This is why CDE is the prefered place in Nashville to sell your ring. We have a private, upscale office in Green Hills that is comfortable and filled with a staff of 3 that understand and are caring.

2. HAVE AN IDEA OF VALUE

There are several ways to ascertain the approximate resale value of a diamond:

  • Have a formal appraisal done.
  • Visit various pawn shops and collect estimates.
  • Familiarize yourself with your diamond’s features — carat, clarity, cut, and color. Know what each one means and how it affects your stone’s value.

3. TRADE ONLY WITH REPUTABLE DEALERS

When the time is right to sell your old diamonds for cash, make sure you enter into the transaction with a reputable dealer. Choose someone who’s been in business for a while and who has a solid reputation.

CDE has been in business for over 50 years. We’re members in good standing with the Better Business Bureau and other local and national trade organizations. When it’s time to trade in those diamonds, you can trust Twery’s to treat you right. Stop by and see us today.

 

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