If you’re considering selling diamond jewelry in Michigan, knowing how to get the most value for your collection is essential. While pawn shops and jewelry stores may be the first options that come to mind, you can get a better price for your jewelry by working with an experienced diamond buyer like AU Precious Metals.
Following a few helpful tips can help you sell your diamond jewelry for the highest price possible.
1. Choose a Reputable Buyer
Finding a reputable buyer can help you get a fair price when selling diamond jewelry. Look for a buyer with a good industry reputation and experience buying diamonds, jewelry, and precious metals. Check online reviews and ratings to get an idea of their credibility, and use a dealer that is transparent about their appraisal process.
At AU Precious Metals, we have years of experience buying and selling jewelry. We ensure every customer receives a fair evaluation of their pieces using non-invasive X-ray technology to determine the metal content of diamond jewelry. We also use our knowledge of diamond valuation based on the four C’s to determine your item’s worth. This allows us to offer top-dollar for pieces like engagement rings, diamond necklaces, and vintage diamond pieces.
2. Understand the Appraisal Criteria
When you sell a diamond, understanding the appraisal criteria for your piece can help you get the best price. For example, you’ll want to know what diamond prices are based on to help you make an informed decision on selling your pieces.
AU Precious Metals will evaluate your pieces based on the four C’s of diamonds: carat, color, clarity, and cut.
- Carat weight: Refers to the weight of the diamond, measured in carats. One carat is equivalent to 0.2 grams.
- Color: Diamonds are graded on a scale from D to Z, representing colorless to light yellow or brown. The less color a diamond has, the more valuable it is.
- Clarity: Refers to the number and visibility of the diamond’s internal and external flaws or inclusions. The clarity scale ranges from Flawless, which refers to no visible inclusions or blemishes under 10x magnification, to Included, which means inclusions are visible to the naked eye.
- Cut: The cut of a diamond refers to its proportions, symmetry, and polish. A well-cut diamond reflects light better, making it more brilliant and valuable. The cut is graded from Excellent to Poor.
3. Consider the Value of the Scrap Metal
If your diamond is in a precious metal setting, you need to consider the scrap metal value when selling. Diamonds are typically set into precious metals like gold and platinum, which all have a market value depending on their purity and weight. For example, as of March 21, 2023, platinum is valued at 988.32 per troy ounce. If you sell a piece of platinum jewelry, your precious metal detailer will determine how many troy ounces of platinum your item contains and use the market value to make an offer.
Our appraisal team at AU Precious Metals uses non-destructive testing equipment called an XRF spectrometer to measure up to 22 elements per reading. This allows us to analyze the metal content in your diamond piece and provide you with an accurate appraisal of the sale value.
4. Use a Sell-Back Method that Works for You
AU Precious Metals provides transparent settlement terms to give you peace of mind when selling. You can visit our friendly dealers in one of our two storefronts or use our mail in program to receive a quote.
Our straightforward buying process includes an accurate appraisal, a fair offer, and quick payment. If you use our mail in program, we will initiate the selling process within 24 hours or less, and you can choose your preferred method for payment, including check, cash, wire transfer, or bullion.
Sell Diamonds for Cash with AU Precious Metals
If you have jewelry like an engagement ring, selling your diamond is easy with AU Precious Metals. We are a reliable local dealer in Michigan with years of knowledge in the precious metal and diamond industry. Our friendly staff will help you through every step of selling your diamonds to get the highest price.
Visit us in Rochester or Novi, or use our mail-in system to get a quote for your pieces.