Are you thinking about auctioning your diamond ring in Santa Fe, NM? Or perhaps you are looking to sell your diamond necklace or earrings for a fair cash price. Santa Fe Diamond Buyer can help. We have helped clients throughout Santa Fe and the greater state of New Mexico sell diamond jewelry for a generous cash amount, while eliminating the substantial fees, wait, and uncertainty associated with online diamond auctions and traditional auction houses.
Many people in Santa Fe believe that auctioning a diamond ring or other diamond jewelry is the best way to obtain a best cash offer for their items. In addition to famous auction houses like Christie’s and Sotheby’s, there are websites like eBay and new online auctions that promise to get Santa Fe residents more money for their previously-owned engagement rings and diamond jewelry.
However, if you have never tried to auction diamond jewelry, there are some important things to keep in mind when making a smart selling decision. So, let’s cover some of the major issues now and explain why hundreds of clients have chosen Santa Fe Diamond Buyer as the best place to sell a diamond ring, bracelet, necklace, or brooch.
Selling a Diamond at an Auction House in Santa Fe
Santa Fe residents who wish to auction exclusive high-brand diamond jewelry that is valued into the five and six figures often look toward a luxury auction house like Bonhams or Christie’s, who have long traditions of selling collectable diamond jewelry.
What sellers often do not realize is that famous auction houses charge more than just a commission on the final sales price. There are also other associated fees which can ultimately add up to 40% of the final hammer price.
In other words, after waiting up to six months for the jewelry auction to take place, the cash that is eventually wired into your Santa Fe bank account may be only 60% of the final sale price (IF your item sells). And if your diamond jewelry does not sell for the reserve price, you will actually lose money—because you still will be charged photography and processing fees.
That is why so many Santa Fe sellers of extraordinary diamond rings, necklaces, and pendants choose to sell their item(s) to Santa Fe Diamond Buyer. We often can provide you with a generous cash offer that comes close to the final amount you might have received when auctioning your diamond jewelry through a traditional auction house—and there is no wait or hidden fees attached.
Using Online Auctions to Sell a Diamond in Santa Fe
In the past few years, some online jewelry auctions have emerged which promise to get Santa Fe residents more money for your large carat diamond rings, earrings, and necklaces. It is always wise to approach these online jewelry auctions with caution.
Keep in mind that an online jewelry auction is only as good as its network of buyers–and it takes many years (if not decades) to establish a strong international network of diamond jewelry collectors and buyers.
If you want to sell diamond jewelry in Santa Fe, the only online diamond auctions worth considering are those who have a deep background in precious jewels that can be easily verified. Their diamond “experts” should provide first and last names, so their credentials and experience can be assessed. And the business should be registered with the Better Business Bureau with an A rating.
Santa Fe sellers should also be aware of the potential for inflated initial appraisals when dealing with online auctions that sell diamond estate jewelry. An inflated initial diamond appraisal is how an unscrupulous online jewelry auction can convince you to sell your diamond with them. The final sales price could be well below that initial diamond appraisal, and you could be on the hook for selling your diamond jewelry at that much lower price.
Check whether the auction website is publishing prices from past diamond jewelry auctions. While the auction prices you see may be higher than what your local pawn shop or jewelry store offered, it could be thousands of dollars less than what a professional jewelry buyer like Santa Fe Diamond Buyer would pay you for your large carat diamond ring, necklace, or bracelet.
Why is the amount so much less? This is because the vast majority of diamond jewelry buyers at online auctions are wholesale diamond dealers (buyers)–this includes those increasingly popular online auctions which specialize in engagement rings and claim to put you in direct contact with retail buyers (end users) willing to pay you more for your diamond engagement ring. The vast majority of bids at these engagement ring auctions are not from the public (individual consumers) but actually wholesale diamond dealers.
So to summarize the situation, when you deal with any online auction that claims to specialize in engagement rings or diamond jewelry, you are frequently just presenting your items to a number of wholesale dealers (buyers), who will pay you the wholesale dealer price, minus the commission and fees taken by the auction. When all is said and done, you are basically adding one more middle man between you (the seller), and the wholesale dealer (the buyer), which ends in you (the seller) getting substantially less money for your item than if you had gone directly to a high-paying honest jewelry buyer like Santa Fe’s Diamond Buyer.
How do we know all this? Because we work with clients every week who have tried for months to sell their diamond ring or other diamond jewelry via one of these online jewelry auctions–and who are shocked at how much higher our offer was compared to what they had received and almost accepted.
When you sell your diamond jewelry to Santa Fe Diamond Buyer, you eliminate the middle man and all of the uncertainty that comes with auctioning your item. Our owner Carl Blackburn is an internationally-recognized fine jewelry designer and one of the most trusted diamond buyers serving Santa Fe and greater New Mexico.
He and his team bring 50+ years of combined expertise to the table when purchasing your large carat diamond rings and jewelry. We tell you exactly how much your diamond is worth (explaining in detail how we have arrived at that price). And we pay you immediately in cash.
Using eBay to Sell a Diamond Ring in Santa Fe, NM
There is a greater likelihood to sell directly to individual consumers (retail buyers) when selling diamond jewelry in Santa Fe via eBay. However, this option generally works best only for those who are established Santa Fe jewelers who have bricks-and-mortar businesses.
Keep in mind that a person cannot just go and open a new eBay account and suddenly sell their $5000 engagement ring. Besides the fact that the potential buyers will be wary of a new seller with no prior feedback/reviews, eBay itself puts all sorts of restrictions on new sellers, one of which is limits on high-ticket items. And even further restrictions are put into place when trying to sell diamond jewelry from luxury makers like Tiffany & Co.
Even if you are able to get your diamond jewelry placed up for sale on eBay, it’s unlikely that you’ll be able to get serious offers for your item (unless you have a long history as an eBay seller). The potential for fraud is simply too great for most buyers to risk spending thousands of dollars to purchase a diamond ring, necklace, or earrings from an unknown eBay seller—even with the increasing safeguards that eBay has put into place.
Lastly, Santa Fe sellers should also take into account the hassle and time involved in setting up a proper and professional looking eBay listing for their diamond estate jewelry—including quality photographs, well-written text descriptions, etc.
After taking all of this into consideration, it is easy to understand why so many people in New Mexico choose to sell their diamond ring and diamond jewelry to Santa Fe Diamond Buyer. The entire process is easy and fast. We guarantee a fair and prompt cash offer for your diamond jewelry and loose diamonds, as well as your complete confidence in the security and confidentially of the process.
Let us help you sell your large carat diamond ring and other estate jewelry in Santa Fe today. Call our friendly and knowledgeable staff to arrange a free Santa Fe diamond appraisal and generous cash offer.