Sell Your Diamond Earrings
Understand Where To Sell Your Diamond Earrings To Get The Best Price
By Alastair Smith · Updated: September 4th 2023
If you’re the proud owner of a pair of diamond earrings and are thinking about selling them, you’ve come to the right place.
You’ll learn how to navigate the process and secure the best possible price for your earrings.
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Three things to know if you are looking to sell your diamond earrings
- Selling diamond earrings is like selling a second-hand car – you won’t get the ‘list price’ ie. the appraisal value
- There’s a while host of factors that will affect how much you will receive – total carat weight of the diamonds, the quality of the diamonds, brand name, condition and the market demand at they time you’re selling.
- Finding the right buyer is key to get the most money possible. We recommend Worthy as they will get your earrings out in front of as many potential buyers as possible, which can increase you sale price.
Why the Original Retail Price or the Replacement Price May Not Reflect the Actual Value of Your Earrings:
Understanding the difference between the original retail price or the replacement price and the actual value of your diamond earrings can help set your expectations on what you’re likely to receive when it comes to sell.
Many people may have unrealistic expectations about the worth of their earrings based on what they originally paid for them or their appraised value.
The main factor for this is markup ie. the amount that retailers add to the cost of a pair earrings to cover their expenses and make a profit, both when new and when buying diamond earrings to later resell.
Some earrings may have had a large markup, thus the retail price is much higher than what they can be sold for in the secondary market.
What appraisals or a receipt are useful for:
Both a purchase receipt and an appraisal should contain essential information about your earrings such as its total carat weight, the color, clarity, cut or the diamonds and the type and quality of the metal in the earrings themselves.
This is all essential information that you’ll need when selling as it will allow potential buyers to understand what you have.
Factors That Affect the Value of Diamond Earrings
When we talk about the value of a diamond earrings, we’re really talking about how much someone would be willing to pay for them.
It’s important to understand the various factors that influence that value – this will help ensure you receive a fair and accurate appraisal and subsequently, the best price possible when selling.
The Quality of the Diamonds
When we think of diamonds, we often think of the ‘4Cs’: cut, color, clarity, and carat, as established by GIA. These four factors are the cornerstones of diamond grading and decide a diamond’s value.
Cut: The cut of a diamond doesn’t simply refer to its shape, but rather how well the diamond has been cut from its rough form. A well-cut diamond will reflect light brilliantly, enhancing its sparkle and overall appeal. For example, a pair of excellently cut 1-carat diamond earrings can fetch a higher price than poorly cut ones of the same weight.
Color: Diamonds are graded on a scale from D (colorless) to Z (light yellow or brown). Colorless diamonds are the most desirable and therefore, the most valuable. If you compare two sets of diamond earrings of equal carat weight and clarity, the set with the more colorless diamonds will typically be priced higher.
Clarity: The clarity of a diamond refers to the presence of internal or external flaws, known as inclusions and blemishes, respectively. Flawless diamonds command top dollar, but it’s important to note that many inclusions and blemishes are not visible to the naked eye. For instance, a pair of VS1 (Very Slightly Included) diamond earrings may look identical to a pair of IF (Internally Flawless) earrings to an unaided eye but will likely cost significantly less.
Carat: Carat refers to the weight of a diamond, with one carat equal to 200 milligrams. Larger diamonds are rarer, so a pair of earrings with two 1-carat diamonds will be worth significantly more than a pair with four 0.5-carat diamonds, even if the total carat weight is the same.
The Total Carat Weight of the Diamonds
Carat weight measures the size of the diamond – larger diamonds are generally more valuable as they are rarer. However, the value doesn’t rise proportionally with the weight, as the other three Cs significantly influence a diamond’s overall quality and cost.
With diamond earrings, the important factor is the total carat weight of all the diamonds combined. This figure essentially encapsulates the size and weight of all the diamonds on your earrings, providing a collective measurement rather than individual diamond weights.
The total carat weight is calculated by adding up the carat weight of each individual diamond in the earrings So, if you have a pair of earrings with two 0.5-carat diamonds, and each earring has a halo of 25 x 0.02 carat melee diamonds, the total carat weight would be two carats.
Generally speaking, a higher total carat weight can increase the value of your diamond earrings. However, this increase isn’t always proportional. For instance, pair of earrings with a lower total carat weight but with diamonds of exceptional quality (based on the 4Cs) may still fetch a high price due to the rarity and desirability of high-quality diamonds.
Type of Metal
The type of metal used in your earring setting can significantly influence their value.
Typically, platinum settings are the most valuable due to their durability and rarity. Gold settings, whether yellow, white, or rose, come next. The value of gold settings will depend on their purity, indicated by their karat (K) number. The higher the karat number, the more gold is present in the metal, and thus, the more valuable it is. Silver settings generally have the least value, although vintage or designer silver pieces can sometimes fetch higher prices.
To determine the metal type of your earring setting, look for any markings or stamps on the earrings that indicate the metal purity. For instance, platinum settings usually carry the markings ‘PLAT’ or ‘950’, indicating that they’re made of 95% platinum.
Diamond Earring Styles and Their Impact on Selling Price:
When selling diamond earrings, it’s important to understand that the specific style of the earrings can have a significant effect on the price you are likely to receive.
Different earring styles, settings, and designs can influence the perceived value and market demand for your earrings.
1. Stud Earrings:
Stud earrings feature a single diamond or gemstone set close to the earlobe. They are a classic and timeless choice, suitable for everyday wear and formal occasions.
Solitaire stud earrings with larger carat weight diamonds are generally more valuable due to the higher cost of the diamonds themselves and rhe quality of the diamond, including its cut, color, clarity, and carat weight, will have a significant impact on the price.
2. Hoop Earrings:
Hoop earrings feature diamonds set along a circular or semi-circular hoop, creating a continuous sparkle when worn.
Hoop earrings may have a similar total carat weight to stud earrings, but as this is usually comprised of many small diamonds, they are usually priced lower.
The design intricacy and craftsmanship of the hoops can contribute to higher prices, especially for more unique or artistic designs.
3. Drop and Dangle Earrings:
Drop and dangle earrings feature diamonds that hang or dangle below the earlobe. They often have a more elegant and formal appearance.
Drop earrings often have single large solitaire diamonds, which can mean that they are valued similarly to diamond studs. Longer and more elaborate designs may be more desirable and command higher prices.
4. Cluster Earrings:
Cluster earrings feature multiple smaller diamonds arranged closely together to create the illusion of a larger diamond. This style can offer impressive sparkle and visual impact.
The total carat weight of the diamonds used in the cluster will impact the price, with higher total carat weights generally commanding higher prices.
However, as usually feature a higher number of smaller diamonds, cluster earrings are usually worth less than stud earrings.
5. Halo Earrings:
Halo earrings feature a central diamond surrounded by a circle or “halo” of smaller diamonds, enhancing the brilliance and visual presence of the center stone.
The size and quality of the central diamond will have a significant impact on the price. Larger and higher quality center stones will generally command higher prices.
The quality and size of the surrounding smaller diamonds in the halo has less effect on the overall value – these stones are often too small to hold significant value in the secondary market.
Best Place to Sell Diamond Earrings:
When you’re selling a pair of diamond earrings, it can be tempting to go for a quick, easy sale. However, doing do can mean that you receive significantly less than you should.
If you’re in a hurry to sell and simply Google ‘diamond earrings buyers near me’ and then choose the first on the list, it’s likely that you will receive significantly less for your earrings than you should.
Online Platforms
These days, digital marketplaces have become an increasingly popular option for selling jewelry to an audience of people who are actively search for exactly what you’re selling.
Platforms such as Worthy.com, WP Diamonds, and The Diamond Valet offer a seamless process:
- You send your earrings for a free evaluation and authentication
- They list them on their website for potential buyers to bid
- They handle the payment and shipping process
- They charge a commission fee from the final sale price
These platforms come with several benefits – they have a vast network of buyers looking for quality diamond jeweler – whether that’s earrings, diamond bracelets or necklaces – offer competitive prices based on real-time market data, provide insurance for your earrings during transit and storage, and offer customer support throughout the process.
However, they also have a few drawbacks. These platforms may take longer to sell your earrings compared to local options, may not accept all types of earrings or diamonds, and may charge higher fees.
Local Jewelers
Local jewelers can be a convenient option for selling your diamond earrings. Here’s how it usually works:
- You bring your earrings to their store for inspection and appraisal
- They make an offer based on their inventory and demand
- They pay you in cash or check on the spot or within a few days
- They may also offer you a trade-in option for another piece of jewelry from their collection
There are a few key benefits to using local jewelers. They offer convenience and accessibility, and you can enjoy personal, professional service. If you’re a loyal or repeat customer, you might even get a better price. Some local jewelers may also have special expertise in particular styles or types of diamonds, making them more likely to appreciate the value of your earrings.
But there can be drawbacks too. Local jewelers may not always offer the best price compared to other options as they need to consider their profit margins. Additionally, they may have limited knowledge about the broader diamond market, which can influence the offer they make. Some might have hidden fees that can eat into your profits, or they might pressure you into accepting a quick sale at a lower price.
Pawn Shops
Another option for selling your diamond earrings is through pawn shops. Here’s the usual process:
- You bring your earrings to the shop for inspection and appraisal
- They make you an offer based on their resale value and demand
- They pay you cash immediately
- They may also offer a loan option where you can reclaim your earrings if you repay the loan with interest within a certain period
Pawn shops have a number of benefits. They provide fast and easy transactions, often without the need for paperwork or verification. They can also be more flexible and negotiable compared to other selling options, and they may accept various types of earrings or diamonds.
However, there are some significant drawbacks to pawn shops. They typically offer the lowest prices as they’re focused on quick resale. They might not have deep knowledge about diamond jewelry, and some may not be entirely honest about the value of your earrings. High-interest rates on loans, as well as other fees, can significantly reduce your profit. Security and reputation can also be a concern with pawn shops, as not all are reputable businesses.
Auction Houses
Auction houses are a common place for selling valuable jewelry pieces, including diamond earrings. Notable auction houses that deal in diamond jewelry include Sotheby’s, Christie’s, and Heritage Auctions.
Here’s how the process usually works:
- You submit your earrings for evaluation and authentication
- They list your earrings in their catalog for potential buyers to bid on
- They handle the payment and shipping process
- They take a commission fee from the final sale price
Auction houses can be a great selling option for many reasons. They attract a large and diverse audience of buyers who are specifically interested in unique or high-quality diamonds.
Owing to the competitive nature of auctions, they can often secure higher prices, particularly if your earrings are of high quality or rarity. Furthermore, they provide insurance and security for your earrings during transit and storage, as well as customer service and support throughout the process.
However, auction houses also come with their share of drawbacks. The process can take longer compared to other selling options. They may not accept all types of earrings or diamonds, especially those of lower quality. Their commission fees can sometimes be higher than other selling venues, and they typically have strict rules and regulations that could limit your control over the sale.
Consignment Shops
Consignment shops or online consignment platforms can be another avenue to consider when selling your diamond earrings. These platforms typically deal with a broad range of items including diamond jewelry. Examples of such platforms include The RealReal, Tradesy, and Poshmark.
The consignment process typically goes as follows:
- You send your earrings for evaluation and authentication
- They list your earrings on their platform for potential buyers to browse and purchase
- They handle the payment and shipping process
- They take a commission fee from the final sale price
Consignment shops and platforms offer several advantages. They have a large, active community of buyers who are looking for affordable and fashionable diamond pieces. They provide reasonable prices based on the condition and style of your earrings or diamonds. Like many of the other options discussed, they offer insurance and security for your earrings during transit and storage, as well as customer service and support throughout the process.
However, there are some potential drawbacks to be aware of. The selling process can take longer than other options due to the nature of consignment selling, where the item sits until a buyer purchases it. Not all types of earrings or diamonds may be accepted, particularly if they do not align with the platform’s clientele or quality standards. The commission fees can sometimes be higher than other selling options. Additionally, quality issues or disputes with buyers can sometimes occur, which could potentially affect your reputation or profit.
What To Consider When Deciding The Best Place To Sell Your Diamond Earrings
When considering where to sell your diamond earrings, there are several important factors to weigh.
Whichever option you choose, be sure to do your research, read reviews, and understand their terms and conditions before proceeding.
Price you’re likely to receive
Different buyers may offer different prices based on factors such as market conditions, the quality and style of your earrings, and their own business models.
Online platforms and auction houses may provide a broader audience and potentially higher prices, particularly for rare or high-quality diamonds, whereas pawn shops or local jewelers may offer less.
Speed of transaction
This relates to how quickly you want or need to sell your earrings. If you need cash immediately, options like pawn shops or local jewelers may provide quicker transactions. Online platforms, auction houses, or consignment shops usually require a longer selling process.
Convenience
Some sellers may prioritize the ease of the selling process. Online platforms offer the ability to conduct the transaction from home, whereas local jewelers provide the opportunity for a face-to-face interaction and immediate feedback.
Security
It’s important to ensure that your earrings are safe throughout the transaction process. Reputable online platforms, auction houses, and consignment shops typically offer insurance and secure procedures to protect your valuables. Local jewelers can also be a secure option if they’re trustworthy and well-established.
Reputation of the Buyer
Checking the buyer’s reputation can help ensure that you have a smooth transaction. Look for reviews or testimonials from previous sellers to gain insight into their experiences. Established jewelers, reputable online platforms, and well-known auction houses typically have a track record that can be checked.
Summing Up: Our Recommendation on Where to Sell Your Diamond Earrings
It’ important to select the selling option that aligns with your goals, preferences, and situation. Carefully weigh the pros and cons of each option and negotiate for the best deal possible.
However, we have found that one option provides the best choice for most people.
Worthy.com: The Best Way To Sell Diamond Earrings For Most People
Worthy is an auction site that gets your earrings out in front of hundreds of jewelry buyers to bid on.
This scale means that higher sales prices can be achieved, but Worthy’s commissions do need to be take into account when calculating how much you will actually receive into your pocket.
And again, if you haven’t checked it out, the ‘recent auctions‘ page is definitely worth checking out.