Selling jewelry on eBay can seem like a great option for consumers look to unload jewelry fast. However, online auction sites can be a source of less than ideal deals depending on the stones and jewelry you have. For those looking to use online auction sites like eBay to sell their diamonds and diamond jewelry, avoid these four common pitfalls to ensure a successful, eBay jewelry sale.
pitfalls to avoid when selling jewelry on eBay
1.) Mispriced jewelry: If a buyer is looking on sites such as these, they are doing so because they are hoping to find a deal. Otherwise, they would simply purchase from a retail outlet that offers things such as credit, return policies, upgrade programs, and warranties. Understand that what you want and what the market is willing to pay may be two different things. If your price is too high, you’re just spinning you wheels. To learn more about how to price your diamond, read our blog on, “What’s my diamond worth?”
2.) Poor quality posts: Having quality images and well thought out descriptions of your diamond will help to separate your post from all the others. Buyers are just as weary of sellers as you are of them. If your post feels genuine, it will put them at ease and increase your chances that they will reply. Be sure to include as much detail as possible about your diamond’s quality. Finally, sell it with your personal story. Let them know how much you enjoyed having it and how many compliments you have gotten while wearing it, the store it was originally purchased from, and even why you are selling.
3.) No support paperwork: We’ve talked in the past about the value of getting a diamond appraisal. If you have official paperwork stating the diamond quality such as a diamond certificate, insurance appraisal, or even original receipt, be sure to include that information. (Remember to omit your personal information such as name and address.) This gives buyers confidence that what they are purchasing is legitimate. If you do not have paperwork, make the investment in obtaining an appraisal from an independent jewelry appraiser. It is a small investment that will pay for itself and more both in the price you realize and the shortened time it takes to sell your diamond. You can get more detailed information of appraisals in out blog, “The Reality of Jewelry Appraisals”. To locate a reputable independent appraiser near you visit the website of the National Association of Jewelry appraisers at www.najaappraisers.com.
4.) Forgetting safety first: When you begin getting responses it can be exciting. Remember to trust your instincts. There are many crooks, cons, and low ballers online. If you get a bad feeling, walk away. You will get many emails about using PayPal and/or shipping your diamond. If a buyer is unwilling to share their phone number, speak to you on the phone, and meet in person, that should be a red flag. Always meet at a safe location such as a police station or bank and accept only cash or certified check if you are at the bank where it can be verified before handing over the diamond. Finally, when you are showing the diamond to a potential buyer, watch them closely. It takes milliseconds for your diamond to be switched if it is loose or in a simple solitaire mounting.