Where Should You Sell Your Diamonds?

If you have diamond jewelry or loose diamonds you would like to sell, it can be a bit overwhelming to try to figure out what to do first. Where do you go to sell. What do you do to make it happen. In general, for most of us, you’re going to sell to a jeweler or to a pawn shop. This, of course, assumes you’re not going to try to sell to a private party, which can be a good alternative if it’s possible for you. We’ll focus in this post primarily selling wholesale to a business and not retail to an individual.

Generally, selling diamonds to a jeweler will get you a higher price than selling them to a pawn shop. Jewelers specialize in fine jewelry and are more likely to offer a fair appraisal and price based on factors like quality, craftsmanship, and market value. This isn’t about honesty. I know a great many honest pawn brokers. I think most pawn brokers are honest. However, pawn shops, while offering quick cash, typically offer lower prices as they prioritize loans and quick returns.

Jewelers often offer higher prices due to their expertise in valuing diamonds and their ability to sell them at a higher markup to their customers. Pawn shops, on the other hand, offer lower prices as they are primarily concerned with providing loans and profiting from the quick resale of items. Jewelers, with their trained gemologists, can accurately assess the quality, cut, color, and clarity of a diamond. Pawn shops, while also having gemologists, may not be as focused on providing a detailed appraisal and may not offer the same level of expertise as a jeweler.

Pawn shops offer loans against jewelry, allowing you to get cash without permanently parting with your diamonds. That can be a big help to you if you have a very short cash flow issue that’s driving the sale. Just be careful because those loans come with high interest rates and the risk of losing the jewelry if the loan isn't repaid.

If you have diamond jewelry you want to sell in San Diego, give me a call. Or, you can drop by my La Jolla showroom, and we’ll give you a free verbal appraisal with no obligation. Go ahead and reach out. You’ll be glad you did.

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