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The relationship that soured and the diamond engagement ring you just can’t bear to look at anymore. The family piece that isn’t to your taste. The designer clip-on earrings that now feel too heavy.
There are as many reasons why clients might want to “liquify their luxury” as there are jewelry designs, says Sicily Von Overfelt, director of Diamond Banc Kansas City. “Jewelry is a symbol that can come with sentimental attachments, good, bad or neutral,” she says. Either way, by appointment, she sees clients and talks them through the process of selling their diamonds, designer jewelry, and Rolex watches.
With no obligation, zero judgment and 100 percent confidentiality.
“One day, I may have a lady recently divorced who says the last thing on her to-do list is to sell her old engagement ring. Another day, it might be the owner of a small business who needs a short-term loan to cover payroll that month—without the bank involved—and hands me two Rolex watches from his personal collection to use as collateral,” she says.
Whether you want to “detox your jewelry box,” Marie Kondo another area of your home, or liquify unique assets to fund something else, Diamond Banc can help. “We provide clients with the information and options to make the best decisions for their situation,” says Overfelt. “Our transactions are confidential, and funding is immediate.”
Here’s what to know before selling your jewelry.
Understand Demand
Jewelry pieces by well-known designers such as Van Cleef & Arpels, Cartier, Harry Winston, Tiffany & Co., and sterling silver lines such as David Yurman are still in demand.
Diamonds are always popular. Pearls, which can degrade over time and have saturated the market, are not. Likewise—surprisingly—gemstones (other than diamonds) are worth more in the piece of jewelry than loose. Precious metals in gold, platinum, and silver are also in demand.
The Top 3 in demand value are larger than 1.00ct round diamonds, Rolex stainless steel sports models, and notable designer jewelry, says Overfelt.
Select the Right Buyer
“We have a vast network of selling avenues we actively track as we take the pulse of the market,” says Overfelt. “For instance, a client with a vintage diamond brooch would not find much demand in the Midwest, but buyers in the South would love it.”
Look for a buyer for your jewelry that knows the industry and has multiple successful avenues to resell the items, a buyer who can cast a wide net to get the best price.
Avoid Online Buyers: They Come with Risk
You might have bought or sold items on Ebay or Etsy. But the more money involved, the more complicated it gets. Selling your fine jewelry online comes with risks.
Potential online jewelry buyers want the best of both worlds: the luxury, authentic item with the discounted price and will require authentication documentation and lots of professional grade photographs. You, the seller, will want assurances that buyers are who they say they are and have the money to pay before goods exchange hands.
“There is rampant fraud with selling your own jewelry items online, read the fine print and take into consideration the time and effort vs the potential return,” says Overfelt. Seller beware.
Original Boxes, Documentation, or other Provenance Information Can Add Value
“A Rolex watch in the original box, warranty paperwork, and with the links for the band could add to its overall value,” says Overfelt. Likewise, antique jewelry with provenance (a personal letter, the original box, an invoice, a dated photo of someone wearing the item)—think Antiques Roadshow—could add cachet or interest, which could impact demand. It all helps in the evaluation process, says Overfelt.
On appraisals—just because you have one, doesn’t mean it is reliable. The jewelry and precious metals market is very dynamic and fluctuating. Also, the appraisal might be for retail value, as if the piece were selling in a store for a markup, rather than its liquid value.
Selling Your Jewelry Doesn’t Have to Be Uncomfortable
Diamond Banc has a lovely office on the Plaza, not a dingy pawnbroker’s shop with barred windows and the cashier behind bulletproof glass.
You can make an appointment, have Sicily evaluate your items and provide you with the information and offer — the rest is up to you. Keep it, sell it, put it on consignment, borrow against it. It’s all confidential. No pressure, no obligation. Make the best decision for your situation.
Start the process today by going to diamondbanc.com or email Sicily to set up an appointment, sicily@diamondbanc.com.
Sicily Von Overfelt is a GIA Diamonds Graduate with over 16 years of experience in the jewelry industry and 10+ years with Diamond Banc. She began her career in retail diamond sales, where she gained extensive experience with designer brands, the intricacies of the diamond market and providing luxury client experience. Sicily is the Director of Diamond Banc in Kansas City, authenticating and purchasing pre-owned luxury designer jewelry, diamonds, and watches from the public.