If you’re thinking about selling your diamond jewelry and you live in New York City, you may have easy access to some of the world’s best jewelers. There are plenty of exclusive jewelry stores and specialist diamond buying businesses in Manhattan and around Madison Avenue, and there are pawnbrokers in many of the city’s districts. If you live in the suburbs, or a small town, or you’re based Upstate, your options are more limited.
Most towns and cities in New York State still have a few high quality independent jewelry stores,
as well as branches of jewelry retail chains. The problem for sellers is that the store owners
usually know each other, and know what their rivals are willing to pay for estate jewelry. You
can take your diamond engagement ring to every store in town and get the same basic offer
from each jeweler. You can try bargaining, but you’re unlikely to be offered any more than a few
Sell your diamond ring easily now
“The buyer will come to you – in the form of a FedEx or UPS courier”
CoronaVirus, Lockdowns and Rising Crime
Many people in New York chose to sell their diamonds and jewelry because they were laid of due to the Corona virus lockdowns. They needed some extra cash to meet a mortgage payment, cover some utilities, or just to put food on the table. The irony was that because of the lockdown, many of the jewelry stores were closed.
New York City is also suffering from rapidly rising crime rates and people are thinking twice about driving round the jewelry stores with their diamond jewelry on their person. The fear of crime is usually greater than the actual threat of crime, but New Yorkers are noticeably more cautious than they were even a year ago.
The same situation applies to the city’s pawnbrokers. Many were closed during the lockdowns, or were facing restrictions on the way that they do business. Ordinary middle class New Yorkers are generally reluctant to visit pawnbrokers and are rightly skeptical about getting a good price for fine jewelry from a pawnbroker.
Where to sell diamonds and jewelry for a higher price
At the moment there is a buyer’s market for pre owned diamonds and diamond jewelry. We’ve seen a sudden rise in the number of people who want to sell, and jewelers and pawnbrokers can afford a tough ‘take it or leave it’ attitude to clients. They know that people who need money in a hurry will usually accept a loss on the sale. In fact, it’s the basic business model for most pawnbrokers.
Fortunately there are other options for people in New York who expect a fair price for their diamonds and jewelry. A few years ago we saw a rise in companies like Gemesti that offer a full online buying service. Most of their initial clientele were newly divorced women who wanted to sell their diamond engagement rings and wedding rings. The majority of these women wanted to move on emotionally and financially after a failed marriage and needed a convenient way to sell their jewelry.
There was a big demand for a discreet service that didn’t require uncomfortable face to face negotiations in jewelers or pawnbrokers, and that didn’t take up valuable free time. Gemesti and other companies offer an online service that’s specifically designed for busy people who expect a quick, secure sale at a fair price.
How to sell diamonds & jewelry online if you live in NY
The advantage of selling online is that you have the same options if you live in a small town or an Upstate farming community, as if you live in the center of Manhattan or Queens. The buyer will come to you – in the form of a FedEx or UPS courier – and collect your jewelry for a free appraisal by a professional gemologist.
If you want to sell to Gemesti, you start by visiting their website and completing a short online form. This is a self-assessment form that allows you to give a quick basic description of the diamonds or jewelry that you want to sell. You can also upload digital photos or any receipts, certificates or insurance appraisals that you may have.
A Gemesti rep will get back to you shortly with an initial offer for your jewelry. This offer is based on the information that you provided. If you want to proceed, you’ll be emailed a free FedEx shipping label for secure overnight delivery with full insurance. FedEx will ship your jewelry to a laboratory for an independent appraisal by a professional gemologist.
The gemologist’s report will determine the exact market value of your diamond jewelry (whether it’s a diamond engagement ring, tennis bracelet, diamond earrings, pendant, or necklace). A Gemesti client services manager will call you back with a final offer. If you’re happy with the offer, you can complete a short online sales agreement. Your money will be transferred to you the same day.
Gemesti covers all of New York State (and the US). If you’re reasonably organized, and clear about the resale value of your jewelry, you can usually expect to close and sale and receive your money within about 48 hours of completing the first online form!