The Complete Guide for Selling Your Diamond Jewelry in New York City
Last updated: May 30, 2019
YOUR GUIDE TO SELLING JEWELRY IN NEW YORK CITYMost precious jewelry is considered impractical and largely goes unworn, hidden in the back of a drawer or in a safety deposit box, never to realize its full resale potential. Many women hold onto jewelry that was either inherited or given as gifts from engagement rings, to diamond necklaces and the like. Some are simply not ready to sell and that is of course up to the individual, however if it is for fear of not being able to get a fair offer, you should know that things have changed and there are better options for selling your diamond jewelry out there.
For the married women, wedding ring upgrades and replacements are commonplace nowadays. Yet, many still keep their old rings locked away in jewelry boxes, thinking that the conventional selling options won't get them a fair offer. The traditional resale options of consignment and pawn shops still exist, but if you are looking to get the best deal for your items, Worthy.com offers a smarter and safer solution.
Local New York Jeweler - Jewelers are mostly in the business of selling jewelry, not buying it back. It is simply not lucrative for them to buy back jewelry and there is little motivation to pay a competitive price for it. It is possible to sell diamond jewelry locally and get a fair offer, if you are willing to put in the work by shopping around and getting estimates from multiple diamond buyers in New York.
Online - If you prefer to sell your diamond jewelry without even leaving your home, you can head to Worthy.com and we'll take care of the rest. With this option, you can get a free estimate, fully insured secure shipping, GIA grading, professional photo shoot and access to hundreds of diamond buyers willing to compete for your diamond jewelry. Just tell us what you can about your diamond jewelry and we'll do everything we can to get you more.
100% Seller Protection
We only trust the best diamond grading lab in the world, GIA, to grade valuables prior to auction. Diamonds sold with GIA grading reports are considered more valuable and can command higher prices.
More About Our Seller Protection Policy.
HOW TO SELL ESTATE JEWELRY IN NEW YORK CITYIf you are looking to sell estate jewelry in New York City, there are a few good options available. There are some reputable estate jewelry buyers in New York City however you may benefit even more by selling your estate jewelry from the comfort of your own home on Worthy.com. The team at Worthy will assist you in understanding the value of your estate jewelry and selling it with ease.
NEW YORK'S SPARKLING SCENEThe world’s financial capital and the most populous city in the United States, the Big Apple is a global power city. Fast paced, cosmopolitan, busy, crowded, are some of the words that best describe New York City. With its five boroughs, 722 miles of subway track and the beautiful combination of cultures, the city of lights has a unique charm like no other place.
New York City is home to precious gems of all sizes. From iconic skyscrapers like the Empire State or the Chrysler building to the thousands of diamonds that are traded weekly in the Diamond District. Located on West 47th street, between Fifth and Sixth Avenue, the district, also known as the Diamond Jewelry Way, comprises a single block that is home to more than 4,000 jewelers and wholesalers. More than 90% of all diamonds imported into the United States enter through New York and pass through that block before making their way to retailers in the rest of the country. It is estimated that the total receipts for the value of a single day’s trade on the district add up to $400 million.
The Diamond District is also home to the world’s leading gemological laboratories: the Gemological Institute of America (GIA) and Gemological Science International (GSI), among others. Our headquarters are located steps away from 47th street, where many of our professional diamond buyers are based.
HOW TO GET A FAIR MARKET PRICE FOR YOUR JEWELRY
The decision to sell jewelry is one to be taken with a lot of thought and consideration. Once you make the decision, you will want to be sure to get the most for your jewelry from a trusted buyer. This is not only made possible by Worthy, it is easier than ever. New York jewelry sellers don’t need to rely solely on New York jewelry buyers to sell their diamonds anymore. Since you can sell diamond jewelry online, you can access jewelry buyers all over the country. The Worthy Auction Platform is 100% secure from the moment you list your diamond jewelry until the final bid has been placed and you accept the offer to sell diamonds. The entire process is seamless, secure and risk-free.
Here Is How the Worthy Auction Platform Works:
- Get A Trending Price – Describe your diamond jewelry and worthy will show you the trending price of similar items to give you an idea of what you can get for it at auction.
- Schedule a FedEx pickup – Worthy will provide you with an insured FedEx shipping label. Your jewelry will be covered with up to $100,000 in insurance coverage against theft, loss or damage while in transit to our headquarters.
- Grading & Auction Preparation – All jewelry on the Worthy auction platform is graded at GIA or GSI labs. This results in a diamond grading report. Next, the jewelry will be photographed in high definition from every possible angle. This provides potential buyers with all the information they need to make an informed decision during the auction process.
- The Auction - Worthy invites interested jewelry buyers to place bids on your high-end jewelry. The diamond grading report presents buyers with the technical specifications of the diamonds in your jewelry. During the auction, you can watch the auction map live to see the bids coming in.
- Claim Your Payment – If the highest bid meets or exceeds the minimum price that you set, you will get paid ASAP. If not, you reserve the right to have your jewelry returned to your address free of charge.
With so many selling options out there these days, Worthy has to be sure to stay above the rest. It is why we pride ourselves in setting a high bar in security, value, transparency and efficiency. We do everything we can to get you the most the market can offer in the most secure, risk-free way possible. It is why we trust the very best in the industry to help us carry out the values we hold dear, and continue to deliver on our promises.
WHY SHOULD I SELL MY DIAMOND JEWELRY WITH WORTHY?
Security – When you choose to trust us with your precious jewelry items, we take every measure to protect both you and your valuable jewelry. From the moment you ship an item to us until it is sold to the final buyer, we've got you covered.
Transparency – Selling your diamond jewelry with an online company can feel unnerving, with the feeling that there is lack of control of the process. We at Worthy completely understand this. It is why we inform you of the status of your jewelry at every step, giving you control the entire time. You get to set your minimum price, see the offers coming in and know the whereabouts of your jewelry at all times.
Objectivity – When you sell your jewelry to a local jeweler, chances are their business interests come first, which may conflict with the true market value of your item. Worthy looks to bring objectivity back into the process. We do this by providing GIA or GSI diamond gradings that do not assign a value to the diamonds in your jewelry. They serve the purpose of describing your diamonds with complete accuracy so that buyers can place higher bids with full confidence.
Worthy has gone to great lengths to ensure that the buyers we bring on board are serious, trustworthy and solvent. Every buyer that participates in auctions has gone through a stringent vetting process, even requesting professional references. All buyers are carefully screened and verified.
HOW TRUSTWORTHY ARE WORTHY DIAMOND JEWELRY BUYERS?
Worthy buyers are currently involved in the jewelry industry and they have an innate understanding of the value of various jewelry items. The most important criterion we have at Worthy is that our buyers are good for the bids they place on your diamond jewelry. We have a no-nonsense approach to bids that are placed – all bids are legally binding and every item on the Worthy platform is guaranteed.
The most popular jewelry items offered on the Worthy platform are the diamond engagement rings, diamond wedding rings, diamond encrusted bracelets, diamond earrings and the like. Loose diamonds are equally popular, as are high-end watches. The preferred jewelry pieces are those containing diamonds of 0.5 CT and above, however we will gladly provide personal feedback on all diamond jewelry pieces you wish to auction through our platform.
Worthy buyers can customize their settings from their end. In other words, buyers can determine what types of diamond jewelry they would be interested in bidding on. Once you have provided full information on your jewelry piece, our team of experts will generate interest with relevant buyers on our network. When you make the decision to place your item on auction after the GIA or GSI grading report, we will promote it the most relevant buyers on our network. Our buyers have between 5 and 7 days to place their bids on your jewelry. We provide regular updates on the bidding process so that our buyers will actively compete for your jewelry.