“I Wanna Sell!”
You take your Diamond Ring into a Jewelry Store to Sell it.
The Store tells you “We Don’t Buy Diamonds, only Gold!”
Why is This?
Why do some Jewelers Buy Diamonds, while others won’t?
You would think that ALL Jewelers Would Buy Diamonds…
The Truth is, most Jewelers DO Want to Buy Diamonds (Especially at Discounted Rates), but a couple of Factors Prevent Jewelers from Buying Diamonds from the Public…
Let’s take a look at them:
A lot of Jewelers just don’t have the Funds to make Large Purchases on the Spot. To buy Diamonds (which can Run into the Thousands), you need to have the Available Cash Immediately. Either you have it, or you don’t!
Some Jewelers just don’t Feel Confident when it comes to Buying from the Public. You don’t know who it is you’re Buying from. It could be a set up. The people could be Criminals. The Stone could be Fake. They might be trying to Swap out Stones… You just never know.
Buying Diamonds is not a 2 Second Purchase. The Stones need to be Cleaned, Weighed, Inspected, and Quality Checked. It’s not as Easy as “Here’s a Diamond, where’s my Money?”
Plus, Dealing with the Public gives you no Warranties, Guarantees, or Return Policies! Vendors give you all these things. The Public gives you Nothing. What you get is what you see.
This is probably the Biggest Reason why a Good Portion of Jewelers don’t Buy from the Public. Jewelers have an Image to Uphold. Jewelers don’t want to look Shifty, Shady or appear Dishonest. They don’t want the Public thinking they are Ripping them off. This is why many Jewelers Turn down the Diamond Sale.
Jewelers say they don’t Buy Diamonds because they don’t want to Offend Anyone… This is especially True if you are one of their Good Customers.
Jewelry Stores that Buy Diamonds don’t offer much for them. Many people already know this. There’s a Good Reason why Jewelers offer little… They can Buy the same Diamond from a Vendor at Cost. So Why would they Pay YOU more for them?
Selling a Diamond will only Bring you 10-30% of what it’s Worth. This is Pretty Much True anywhere you go.
If Jewelers told people that they would offer them $400 for a $2,000 Diamond Ring, people would get Mad, Feel Insulted and Leave out the Door (probably never to Return).
“I Bought this Diamond from you!” is what most people Blurt out. Not cool!
Customers figure that the Store that Sold them the Ring would be the one that would Pay them the MOST for it… NOT True!
It doesn’t matter Where you Bought it from, the Cost of Diamonds is usually the same.
Not to mention the Fact that your Ring is now a Used Item! And of course, Jewelers DO want to Make a Profit off the Transaction. Can you Blame them?
Jewelers Make a Choice
Jewelers make a Choice whether to Buy Diamonds from the Public. It’s a Personal Decision.
It all depends on How they want to be Perceived. If you Tick off your customers by offering little for their Diamonds, you could Lose a Valuable Customer for Life.
Some Jewelers don’t want to take that Risk, so they Decline the Sale. But, at least their Integrity Remains Intact.
It’s all in WHAT they Buy
Buying Gold is a Different Story.
Most Jewelers DO Buy Gold! Gold is Melted down and sent to a Refiner. Jewelers Pay Scrap Metal Value for Gold. This is Easy for the Public to Understand and Grasp.
But a couple of Hundred for a Diamond Worth Thousands doesn’t sit so Pretty!
Many Jewelers come right out and say “I don’t have the Cash Available, so I can only offer you this much!” This Tactic actually Works. People Understand that and can Reason with that.
The Bottom Line is:
Jewelers don’t want to Insult you with the Price. It’s not Easy telling people their Diamonds are only Worth so much.
Many Jewelers will say that they don’t Buy Diamonds outright, BUT… They DO take Trade-Ins!
This is Great! The Jewelry Store gets your Diamond AND they get a Sale at the Same Time! It’s a Win-Win Situation for the Jeweler!
Check Around First!
Be sure to check around BEFORE you Sell or Trade-In your Diamond.
Compare Prices and Trade-In Values. Don’t worry so much about what they are giving you in Trade, what really matters is what the Bottom Line comes out to be. Are you Paying $3,700 for that 1.00 Carat Diamond or are you paying $5,000??? That’s what you really want to know.
ALL Jewelers Buy Diamonds
We know that. ALL Jewelers DO Buy Diamonds. They just might not Buy them from YOU!
Don’t take it Personal though, this is just the way it is.
Image is Everything! :)