How much should I resell my diamond jewellery for?

Jewelleries come at a price– a costly one. And the worst part is, someday we'll lose interest and keep them stored in our drawers like a forgotten treasure.

Fortunately, reselling is always an option when it comes to things you no longer use. the only downside is, you will get less than its original price.

But how much should you resell it? Will it be worth it? Read on to find out.

Reselling

Depending on the diamond jewellery, whether it's a radiant cut engagement rings, pear shaped diamond earring or a necklace, the price will be based on four factors by the jeweller. These are:

The 4Cs of the diamond

The jewellers' basis on the price of diamonds are the 4Cs; They are the carat, weight, colour weight, cut grade and clarity grade. These characteristics will give the jewellery a way to determine the value of the centre stone. The average price of a 1-carat diamond is around $6000 while a poorly cut diamond is worth $2000.

Metal

Once the diamond is assessed, the jeweller will look at what kind of metal the diamond is in. This one is quite tricky because the price of each metal changes daily. With gold, karat weight is the determiner of its price. The higher it is, the more valuable it gets.

Age

Jewelleries that stood the test of time are more likely to cost more when sold. Jewellers consider them as 'vintage' of they're at least more than 20 years old.

Purchase price

The retail price of your diamond jewellery will lay the groundwork on how much you can resell it. The factors mentioned above are as important because they provide the jeweller an idea on what the final value will be.

Keep in mind that jewellers have no intention of paying you nowhere near the retail value of your jewellery. If you want to sell it at a higher price, selling it online might do the trick. The only problem is you might be approached by dodgy people that will take advantage of you, so it isn't the best option.

Will it be worth it?

The question of worth depends on the success you've made on your sale. If you're determined in selling it and somewhat earned a reasonable amount, then yes, it's worth it.

If you want to sell it just for the extra money, it isn't worth it. Instead of selling, you can give it to your children or relatives as a keepsake to be passed down to future generations.

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Setting the price of your diamond jewellery proves to be challenging– given that there are factors you should consider. So don't hesitate to consult your local jeweller and learn how to set the right price!