If you want to sell a diamond ring in San Antonio, you have a choice from over a hundred jewelry stores and pawn stores. Even after the confusion and difficulties of the COVID-19 pandemics and lockdowns, San Antonio still has a thriving jewelry scene with plenty of demand for new and used diamond rings. The problem is that most jewelers are focused on selling jewelry and not buying it. Pawn stores are usually keen to buy but offer ridiculously low prices. If you live in San Antonio, your best guarantee of a high price for your diamond ring is to sell online to a professional national buyer like Gemesti.
Where To Sell A Diamond Ring In San Antonio For Top Dollar?
Unfortunately, you’re very unlikely to sell a diamond ring in San Antonio for top dollar. For local jewelers to make a fair profit on the sale, they need to add 25% or 30% to the supplier’s price. The supplier’s price is already well below the price you paid when you bought your ring in a store. By the time you’ve deducted the 8.25% San Antonio sales tax, any shipping costs, and the jeweler’s profit, your ring could easily be worth 40% less than you paid for it.
The fact that the ring is second-hand shouldn’t detract too much from its value. After a professional grease busting ultrasound clean and a jeweler’s metal polish, the ring will be back up to display case standard. Nonetheless, many jewelers will factor in an extra deduction for ‘depreciation’ or wear and tear. They will also take into account the fact that once they buy the ring, they are stuck with it. Unlike the majority of their jewelry inventory, there is no sale or return option on second-hand diamond rings.
You can spend days researching where to sell a diamond ring in San Antonio, but you’re unlikely to be offered more than 60% of the retail value. You might be tempted to make the 360 miles round trip to Houston and look for a luxury jeweler or a specialist buyer. The problem is that Houston jewelers work on the same metrics as San Antonio jewelers. They face similar business expenses and overheads. In high-crime cities, just insurance and store security can eat into jewelers’ profits. All business owners have to pay a lot of bills before they see a dime in profit. Jewelers face even more overheads.
Can I Trust Pawn Stores In San Antonio?
Yes, you can trust the city’s pawn stores. Once you close a deal they’ll honor it and won’t rip you off. Unfortunately, any deal you close will be a hard one. Pawnbroking is one of America’s toughest businesses and they are merciless about driving a hard bargain. Pawn brokers are not bad people, they simply operate according to the rules of the second-hand industry. If you’re going to sell second-hand goods cheaply, you need to buy them even more cheaply. Pawn stores generally get a bad rap, but it’s worth remembering that they have no shortage of clients. If they were as bad as their reputation suggests, they would all go out of business.
It’s simply the case that it’s a bad idea to sell a diamond ring to a pawn store. You’ll be offered between 10% and 20% of it’s retail price and will need some real bargaining skills to get a more generous offer. Although most of the city’s pawn store wonders and managers run a fairly straight operation, there is a crime problem in San Antonio. Pawn stores are a magnet for any criminal who doesn’t have access to a reliable fence. A minority of pawn stores are also believed to buy stolen merchandise and act as police informants.
If you do sell a diamond ring to a pawn store, you need to follow a few basic safety precautions. There is always a small possibility that you will encounter low lifes, or even be targeted by them.
- Go with a friend, especially if you are a woman or are elderly.
- If you’re a gun owner, this might be a good day for concealed carry.
- Don’t let any other pawn store customers see you with a diamond ring
- Keep your eyes open in the parking lot and the street and use your common sense
- Consider immediately banking any cash if you do make a sale
Where To Sell A Diamond Ring In San Antonio: Alternative Options
Once you’ve realized the limitations of selling to jewelers and pawnbrokers, you’ll probably look for another alternative. One is to advertise your ring online and sell it independently. This basically means either Craigslist, eBay or Etsy. Each site has its pros and cons, but none of them is an ideal option.
Pros of selling on eBay, Craigslist, and Etsy
- Each site has thousands of users in San Antonio and Bexar County. eBay in particular will connect your listing to a potential pool of millions of US and foreign buyers.
- Ebay and Etsy allow for automated, protected selling. There is no need to meet buyers or accept potentially problematic cash payments.
- If you’re patient, you can set your own prices and wait as long as necessary to find the right buyer.
Cons of selling on eBay, Craigslist, and Etsy
- You have to take full responsibility for photographing and listing your diamond ring. You’ll also need to get it professionally cleaned and polished first.
- You will face competition from thousands of similar listings. Many will be cheaper products from foreign countries or will be professionally listed by retail jewelers.
- You will have to deal with time wasters and will face the issue of whether to offer returns and free secure shipping by courier.
- If you sell on Craigslist, there is no automated secure selling system. You will have to arrange the transaction with the buyer. This creates many security issues.
Selling A Diamond Ring On Craigslist In San Antonio
The good news is that crime dropped an estimated 16% in San Antonio during the pandemics. The bad news is that in 2020 there were still a reported 7,606 burglaries and 40,513 cases of larceny. If you’re going to advertise a diamond ring for sale, you need to take basic security precautions. There are people who will read your ad and target you for burglary, home invasion or mugging. There are also active – and highly sophisticated – fraudsters who will be very keen to meet you. There is a Latin expression Caveat Emptor. It means to let the buyer beware. When you sell a diamond ring on Craigslist, it is a case of Caveat Venditor – let the seller beware!
We do not recommend that the average citizen sells a diamond ring on Craigslist. The personal security risks (and other inconveniences) outweigh any possible benefits.
The Best Way To Sell A Diamond Ring Online In San Antonio
The best way to sell a diamond ring online when you live in San Antonio is to use Gemesti’s online jewelry buying service.
There are 5 main advantages to using the Gemesti service:
- Speed and convenience
- Discretion and privacy
- Complete personal security
- A full personal service
- High nationwide prices
Gemesti covers all of Texas (and all the US) via FedEx overnight delivery. If you want to sell your ring, you can send it for free appraisal via FedEx. Gemesti pays for the shipping and insurance and there is no obligation to sell. If you change your mind, or don’t like the final offer, they’ll return the ring straight away – with no charge or penalties.
Because Gemesti is an online business with clients across the US, their overall shipping expenses are relatively low. They can easily absorb the shipping costs of the tiny minority who decide not to sell their jewelry. There are dozens of FedEx Print and Ship centers and drop-off points across San Antonio. You can also arrange for collection.
- Go to www.gemesti.com and take a couple of minutes to complete the flowchart jewelry assessment form. It’s fast and simple.
- Get a call back from a client services manager with an initial offer. Remember, this is an unseen offer based on the info you provided in the form.
- Gemesti will arrange for free FedEx shipping. You can send your ring for appraisal at the independent EGL US laboratory. A gemologist will determine the exact market price of your ring.
- Gemesti will call you to make a final offer. If you’re good to go, you’ll get an email with the sales agreement. Once it’s completed and returned, your money will be transferred to your account.
- If you’re not happy with the price, your client services manager will return your ring free of charge and with no pressure or hard sell.
Check out what clients are saying about the Gemesti service on Facebook or visit the Gemesti website to see how you can sell your diamond ring online and get paid top dollar in just 48 hours.
