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If You Are Selling Gold Jewelry Make Sure You Get Paid For Your Diamonds Too! |
Over the past years of the cash for gold boom and gold price increases thousands of people have been selling off their gold for cash trade in and return on their investment. This gold has comprised all sorts of items such as coins, dental gold, gold from semi conductors, and of course jewelry. If the jewelry you were selling contained diamonds then you may have been giving away a great investment to the gold buyers without realizing it.
Don’t get us wrong, diamonds do have a great value, but they are not as liquid an asset as gold is in the first place. Diamonds have an intrinsic value which differs depending on the size, quality, color, and cut of the stone. The point we are trying to make is that you should be selling gold jewelry with diamonds to gold buyers who are paying you for your diamonds on top of the gold amount in price. At the very least, if the gold buyer does not understand anything about diamonds or will not pay you extra, you should request to have your diamonds removed from the gold and returned to you, but in reality you should definitely try to find a gold buyer that knows more about both of these.
To get paid for the diamonds in your gold you are going to have to face the same fact as with the diamond jewelry piece in the first place. Most likely, you are not going to be able to sell for the price you originally bought at retail. In this same scenario, the gold will be separated and paid out according to the World Gold Spot Price and the diamonds should most likely be paid out according to their wholesale price. Generally the wholesale price of diamonds is significantly less than the retail but you have to keep this in mind that at least you are making extra cash rather than giving them away for free.
Author: Diamond Dan is an expert cash for gold analyst and author. Having both a professional business degree and extensive understanding of financial markets and the jewelry industry, he has seen many trends with gold buyers and the public selling gold jewelry. By researching both cash for gold business models and stock market Gold price trends and futures, he is able to present informative arguments on where to sell gold and how to avoid cash for gold scams. It is his hope to share knowledge with young entrepreneurs and cast light on an industry so often confused and misrepresented.
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