Selling Facts and Procedures
How to Sell your Secondhand Diamonds and Jewellery
If you have gold, diamonds or jewellery that you no longer need, you have probably found that it can be quite difficult to work out where and how to sell your jewellery to receive a reasonable price from a reputable industry dealer. At Diamond Brokers Queensland we specialise in assisting clients to sell their high quality secondhand engagement rings and diamond jewellery through direct purchase and consignment.
Ever jewellery item is different and the sale potential of that item will change with time, quality, condition and popularity. Diamonds and gold are ideal components for resale as they hold a specific market value and are a great way to preserve your wealth. However the manufactured value of jewellery can often be lost from jewellery once the item no longer holds its sale potential from when it was purchased new. The better quality and larger the diamond the less reliance there is on the manufactured value to return a high price from your jewellery.
As wholesale diamond merchants we can easily assess your jewellery to determine the best plan of sale and how much the piece should return. To provide the best possible price for our sellers we are selective about the jewellery that we accept and only take on items of high value that we know can be sold to our target market.
Facts and Procedures for Selling your Second-hand Engagement ring, Diamonds, Gems or Jewellery
Selling your jewellery with Diamond Brokers Queensland – How does it work and where from here?
- Contact Us
Let us know what you have to sell and all of the receipt, valuation and/or certification you have for your jewellery. You can call or email us with the details and we can give you an indication of the return value of your item and if the piece is something we believe we can sell. If the offer is acceptable then we can book an appointment for you to bring the jewellery to the store.
- Deliver your Jewellery to our Cleveland Studio.
To most accurately access your jewellery we suggest after our initial phone or email discussion to book and appointment with our studio to bring your jewellery to our store for inspection, price negotiation and to sign the contract for either a direct sale or consignment.
Send your jewellery by post. For clients outside of Brisbane you can download the contract form, fill in the details and send a signed copy with your jewellery to our studio. We recommend posting your jewellery either via courier or Australia Post – Express or Platinum post with signature on receipt. Extra insurance can be added if you require further coverage.
- Final Inspection and Preparation for Sale
Once we have your jewellery in-store the jewellery will be inspected for quality, faults and to confirm details of the paperwork provided. The quality will determine the wholesale replacement cost and assist to negotiate the final offer price. Once the contracts have been signed and finalised if required the jewellery will be sent out for professional cleaning and to be independently valued.
- Product Listing
Once the jewellery has been prepared for sale then it will be listed for sale online and in-store at the nominated prices. To list your jewellery with Diamond Brokers Queensland you only have to pay a small administration fee, which can be paid before or after finalising the sale. We work on a no sale no commission basis so if your jewellery does not sell then we do not charge any additional fees. If your jewellery sells at Tender auction then we add a 15% commission to the accepted offer price or if sold in store we take a commission of 15% of the total sales price excluding GST.
- Sale Offers
Products for sale will be sold without notice if the product is sold within the nominated price range. If a reasonable offer under the agreed price is presented then the seller will be notified of the offer to authorise the sale or provide a counter offer.
- Sale Confirmation
Once a sale has been confirmed and a deposit has been paid we will prepare the jewellery for sale and the buyer will have up to 30 days to pay the remainder of the balance of the sale unless other payment terms have been arranged. Once the final payment has been made and the jewellery has been collected then payment will be made to the sellers by their nominated payment method.
Whether you are selling your jewellery on consignment, auction or for cash our process is all the same.
- Jewellery Returns
When listing your jewellery with Diamond Brokers Queensland we recommend that you allow at least 6 months to give your piece the time to sell at the appropriate price. If at anytime you would like to collect your jewellery please let us know by email that you wish to withdraw your jewellery from sale and we will have it ready within 48 hours. All collections must be made by prior appointment to ensure that all items are ready for collection.
What you need to know about Selling your Jewellery
How do we work out the value of your jewellery? – The cost of your jewellery is worked out against the current wholesale cost of the gems and manufacturing of the same jewellery if made new. This is the highest value that is able to be achieved but depending on the condition of the jewellery and the sale potential of the design and quality this value may be lower.
What commission do we charge? We charge a flat commission fee of 15% on the sale for items up to $50000.00. For items over $50000.00 we will then charge a 10% commission fee.
What do you have to pay? – We charge a one-off fee of $50.00 pre-listing or $80.00 post-listing to cover the administration costs of listing each clients’ jewellery for each individual item.
Do I need to have my jewellery professionally cleaned? If your jewellery is not in new condition your ring will need to be professionally cleaned. You can have this done yourself before bringing your ring in for inspection or we can have the ring cleaned for you before it is listed for a charge of $50-$80.
Do I need a valuation? – Yes, if you have one great if you don’t we can have one done for you.
How current to I need my valuation – In most cases any valuation is fine as it is there to verify the ring and provide some of the finer details of the ring that would otherwise need to be approximated
How long do I have to leave my ring with you? – We ask that all sellers give at least 6 months to allow your ring to have time to get a reasonable sale.
How long will it take to sell my jewellery? – The more attractive and popular the jewellery the faster that will often sell but there are many factors and no real answer more than when the right buyer comes along they will buy your jewellery.
What if I wan to take back my jewellery? – You can take back you jewellery at any time and just have to pay any outstanding cost associated with preparing your ring for sale.
What if I find a sale privately? – We can offer to sell your jewellery to your buyer and will only charge a 1% commission rather than you having to coordinate the sale.
Do you have exclusivity over my ring? – No you can still list your ring with other sellers but we ask that your jewellery be held with us.
Do I have to leave my jewellery with you? – Yes, as part of our selling process we must know what we are selling and have access to it to show client. Only in very special circumstances do we allow listing of very high value jewellery to remain with the owner but we must be able to access the jewellery quickly once sold and must have exclusive sales rights.