Are you considering selling your diamond engagement ring now that you’re divorced? If so, Worthy is the place to go! Find our complete review of Worthy below.
The Old Fashioned Way To Sell Your Jewelry
In the old days, anyone wanting to sell their diamonds had no choice but to return to the local jewelry store where they originally paid retail for their stones. The only alternative was to go to a local pawn shop or consignment store.
At these vendors, the buyers knew they had the upper hand – they often sold you the piece and knew how much they could get for it. Or in the case of pawn shops, they knew you’d take the lowest offer to sell your ring fast to get quick cash!
Local jewelry stores don’t generally want to be known as resellers. So, most likely they will either refuse your jewelry or may offer to take in your piece only on a consignment basis. This means the seller would only get paid if the item sold.
Pawn shops, on the other hand, will almost always get you cash fast, but you definitely won’t be getting anything close to top dollar for your valuables. Today, not much has changed with these stores. Jewelry stores as well as pawn shops are generally not the best option to secure the highest price for your diamonds.
Selling Your Jewelry Online
These days, you can sell your engagement ring online at sites like:
- Facebook marketplace
But although eBay and similar sites offer a large platform for buying and selling diamonds, it is riddled with problems. Most notable of which is lack of authentication and the inability to adequately evaluate both the stone and the seller’s credibility.
As a result, it is extremely easy to become a victim of fraud. Moreover, unless you have a long established history of selling fine jewelry, you may have a lot of trouble finding a buyer who will trust you.
But that’s not your only problem. Like selling your diamond ring at a local store, it will be very hard for you to get a great price on a jewelry sale. Lack of trust in you as the seller and fierce and intense competition from potentially thousands of other sellers means you most likely will get a lowball offer.
The Best Solution: Sell Online With Worthy
Worthy, an innovative and exclusive online jewelry auction platform, was created to disrupt the jewelry resale industry. It has become the best solution to help people sell their diamond rings and other diamond jewelry.
Worthy is able to get jewelry sellers top dollar for their rings due to its unique, exclusively curated network of expert jewelry buyers who compete in a closed auction for your valuables. Because these experts have such deep knowledge about current diamond trends and prices, they are willing to pay far more money for your ring than your local jewelry store, pawn shop, or consignment store might consider.
But getting the most money for your ring isn’t the only reason to sell with Worthy. In addition, the process is fast, transparent, secure and of low cost to the seller so that your profits do not get eaten up by high fees. This experience is the very opposite of heading into your local divey pawn shop to pawn your wares. It is the ultimate luxury jewelry selling experience.
A few of those main benefits of selling your jewelry with Worthy include:
- Getting the most cash: Increased buyer competition nets you the highest price – and the most cash – for your jewelry
- A Simple Process: The Worthy auction process is simple, fast and convenient
- Low Fees and Costs: Shipping, grading and photography are done at no cost to you and Worthy’s fees are only 10% for top tier items; the highest fees for any item are 18% or less.
- Transparency: The user gets full transparency into the process and pricing of their goods
- Trustworthiness: Worthy works with the most trusted partners and vendors for shipping, insuring, grading and selling your jewelry.
- It’s Fast: Sell your jewelry for cash in ten to fifteen days rather than several months at a consignment store.
- Stay private: Sell your jewelry anonymously and keep your business to yourself.
In the following section we will take a deeper dive into exactly how the Worthy process for selling your diamond jewelry works.
How Does Worthy Work?
Worthy works by allowing sellers to place their valuable jewelry up for auction on Worthy’s state-of-the-art online auction platform. Here is a basic outline of how the overall process works:
- Shipping – Once you’ve submitted an item to Worthy online for pre-approval, you will receive a FedEx shipping envelope to send in your qualified pieces.
To send your item quickly and safely to Worthy, you can either schedule a FedEx pickup at your home or simply take the envelope to a staffed FedEx drop off location.
Worthy pays the full price of the shipping and the valuables are insured by the famous and highly reputable insurers at Lloyd’s of London, so the seller doesn’t have to worry about costs or the security of their goods at all.
- Cleaning– Worthy cleans the jewelry to remove any tarnish or dirt that has accumulated on the stones or settings. This will improve the jewelry’s appearance and increase its perceived value to potential buyers when it is placed up for auction.
- Photographing – Once cleaned, the jewelry is professionally photographed using high-definition technology to capture its beauty and essence from every angle. These beauty shots of the diamonds allow the buyers to really see what the piece looks like and convince them to bid as much as possible for the items.
- Grading – To instill full confidence in the buyers, Worthy teams with the leading gemological grading service, including the industry standard Gemological Institute of America (GIA).. These agencies inspect each piece of jewelry Worthy receives and officially grades it based on a number of different factors crucial to determining a piece’s value. Luxury watches submitted are also inspected by an agency called Central Watch.
- Listing – Worthy creates a special listing for each piece of jewelry. The listing will always include a description of the item, the photography, as well as the objective agency grading report. When the listing goes live, potential buyers can start placing their bids on the valuables.
- Reserve Pricing – Since Worthy’s is an auction process, the final price of the item is yet to be determined. However, the seller has some control. By setting a floor or reserve price, the seller can determine the lowest price they are willing to sell their jewelry for. Once Worthy receives the third party grading report, Worthy recommends a suitable reserve price although the seller can set their own as well. Once this reserve price is set the auction can begin.
- Going Live – Once the auction is live, the jewelry can be seen by Worthy’s buyer network of over 1,000 top jewelry industry professionals. The seller can also watch the process through a live online display.
- Get Paid – Once the auction concludes, the seller is notified of the final sale price minus Worthy’s percentage fee, which is a portion of the total sale value.
The more the seller earns, the more Worthy earns too, so they truly have every incentive to get the seller as much money on their sale as possible. Once the jewelry sells, the seller will get their money quickly through a bank transfer, through Paypal, or by check. It is your choice as to which of these three options you take.
Customers Rave About Selling with Worthy
Being in control of your auction and seeing the bids coming in isn’t just useful and valuable – it can be exhilarating.
Denise Anderson, a recent seller and financial advisor shared, “Everyone in my office was involved watching the auction, and they are all now combing their jewelry boxes for old diamonds.“
I think as women, it’s very important to support each other in these decisions. I felt supported in mine by my colleagues and the women at Worthy. Worthy is a fantastic way for people to monetize hard assets that they no longer need or enjoy. Because the process is so fair and open to a broad community of professional buyers, it is transparent and trustworthy.Denise Anderson, Worthy customer
There are thousands of customers ready to sing the praises of Worthy. For more, check out Worthy’s customer reviews.
Final Review: Sell Your Jewelry with Worthy
Final Review of Worthy: 5 Stars. Worthy is the best place to sell your diamond engagement ring or jewelry anywhere on the web or near you. They will get you the best price for your valuables safely, conveniently and fast. This puts the most cash in the seller’s hand and a smile on their face.
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