Selling Jewelry Online: Ebay vs Worthy – An In-Depth Look

ebay vs worthy
Worthy Staff

By Worthy Staff | Mar 20th, 2019

Whether you are looking to sell a piece of old fashioned inherited jewelry or get rid of memories from a bad marriage, selling a diamond can seem like process fraught with dangers. Pawn shops, jewelry stores and consignment shops are not options if you are interested in getting the true value of your diamonds. In the age of innovation and technology, you turn to your greatest resource, the internet, and try to see if another option exists. But now you have to ask yourself: do I sell with eBay or a specialized marketplace like Worthy?

A Glimpse Into the Diamond Resale Market

Traditionally the process of diamonds entering the market begins in the mine where new diamonds are mined. After they are cut and polished, they make their way to retailers who ultimately sell their goods to consumers. Currently, consumers own $3 trillion of jewelry, $1 trillion of which is in diamonds.

With so much valuable inventory, consumers are looking to become sellers themselves.

eBay

eBay may be the first option that came to mind when considering selling your diamond online. After all, it’s the biggest name in the US when it comes to consumer-to-consumer sales. On average, eBay has about $3 billion in jewelry listings so you would not be alone in choosing eBay to sell your item.

However, while the site does have so much jewelry available for sale, 95% of those items aren’t sold. There is a lack of trust on the part of buyers on eBay, especially if the seller has not achieved the “power seller” level.

Worthy

One of the many reasons the secondary market for diamonds hasn’t been growing is due to the traditionality of the industry and the resistance of buyers to break from the norm.

By utilizing the right technology, Worthy is disrupting this traditional industry by bringing diamond-holding consumers and professional diamond buyers together on our platform through an online auction.

By connecting sellers with qualified buyers, sellers will get at least three times more for their item than they would get from eBay.

Worthy is a smart solution for selling diamond jewelry and watches online. At Worthy, your item is graded at the world’s top gemological labs like GIA, professionally photographed and offered at auction to a group of verified, professional buyers. The buyers know exactly what they are getting and are therefore willing to pay the true value of the jewelry, making it a perfect solution for both buyers and sellers.

 eBayWorthy
Safety

The eBay security center provides helpful guides for how to avoid scamming buyers and sellers, when to contact law enforcement, and how to protect your information to make eBay a safe space for everyone.

However, the downside of a platform like eBay is that it is open to anyone and everyone and there is no one to know 100% who you are buying and selling from.

 

Worthy is a managed platform, meaning we are fully involved in each step of the process.

Sending your diamond in the mail can seem like a risky business but with insured shipping and a secure entry process, your diamond is in good hands.

When it comes to the who is buying, we have a network of verified, professional diamond buyers who have been vetted by Worthy.

Value

When you enter an item for sale on eBay, YOU are responsible for entering the details and YOU determine the price. For some, this might seem like a good idea but the truth is, you may have a very valuable diamond on your hands and not even know it. These are the sort of things that require a trained eye.

And when it comes to those looking to buy on eBay, you may not necessarily be reaching the best consumer audience for your item, particularly those who are unable or unwilling to pay the true worth of a recycled diamond.

In order to ensure you are getting the price you deserve, we first send your diamond to a certified grading lab (GIA, IGI) to receive a full grading report on your diamond. With that in hand, your diamond is put onto our auction platform with professional photographs to show the true quality of your diamond alongside the grading details.

With all of this information available, our network of buyers are able to make worthy bids on your diamond.

Effectiveness

When last checked, there were almost 1 million diamond rings available for sale on eBay. But only 5% of those rings will be sold. The rest may remain there until the sellers get smart and find a different, worthier option.

Our aim is to provide a smart solution that allows you to sell your diamond quickly and for a good price. Therefore, we work quickly to get items through the verification process and up for auction. Once a diamond has been sold, we can get the sale money to sellers within a few days.

Process

When you sell a diamond or diamond jewelry on eBay, you will be asked to input a lot of information regarding the characteristics of the item, it’s condition, and your expected price. All of this information is available to potential buyers once the item goes up for sale.

However, if you are not a qualified jeweler or do not have any certification for your diamond, how are you able to provide the true details about your item?

When you enter an item on the Worthy platform, you will be asked to detail the item’s basic characteristics. Once it arrives at our office, these details are verified and the diamond is sent to a grading lab, giving a full picture of your gem.

Not only does this help you understand the true value of your diamond but it also allows our buyers to know whats for auction, helping to raise the sale price.

 
 
 
 
 
 
 
 

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