Sell Kay Jewelry Quickly & Securely | WP Diamonds (2024)

FAQs

How can I get the most money out of my jewelry? ›

Your choices are a jewelry store, a pawn shop or a “We Buy Gold” dealer. In most cases all three will offer you “scrap value,” that is, the value of the metal, diamonds and gems. Of the three, you'll usually get the most money from a jeweler. Please note that Fox Fine Jewelry buys jewelry in-person only.

"If you want to receive the highest attainable value for your engagement ring, the best way is to sell your ring to another consumer," she says. "Generally, another consumer will pay the most for your diamonds than anyone in the industry as they are looking for a good deal and may not have access to wholesale prices."

Kay Jewelers currently operates a nationwide trade-in or buy-back program. You can take an item of diamond jewelry to any of their stores in the US and use it as part payment for another piece of jewelry.

Take photos of your jewelry before shipping it. And send it insured with a delivery method that proves the company received it. Another option is to sell via an online consignment shop. This can work well because individuals typically pay more for jewelry than professionals do.

People take their time and money slowly because diamonds are heavy purchases for normally special occasions like birthdays, weddings, engagements, and other special milestones like anniversaries. The high markup also covers the original costs and the slow time it takes for it to be bought.

Selling your engagement ring to a local jeweler or pawn shop may give you quick cash, which is important to a lot of people. However, keep in mind that brick-and-mortar jewelry buyers typically pay less than online buyers, so I recommend considering a reputable diamond buyer online.

On average, the retail price for one carat diamonds can be anywhere between $2,000 to $16,000, and between $8,000 to $72,000 for two carat diamonds . And of course, the retail price and the resale value of a diamond are very different things.

Resale Value. Generally, when you sell pre-owned fine jewelry, you can expect to get around 20 to 50% of the original purchase price. There are a few exceptions to this range. For example, very rare and highly desirable pieces may fetch a higher price.

The typical loss on reselling a diamond is between 25% and 50% of its original purchase price. Like the price of gold, diamonds' resale value can rise and fall depending on some circ*mstances. You can anticipate getting 25-50% less when you resell your diamond than you paid.

What do you do with jewelry you dont want anymore? ›

Getting rid of jewelry

As for pieces you no longer want, donate them. Many charities accept fine jewelry donations, including Goodwill, the Salvation Army and Support Our Troops. If you want to unload costume jewelry, look into organizations such as Dress for Success, Suited for Change and I Have Wings .

kay.com's top 5 competitors in December 2022 are: zales.com, jared.com, bluenile.com, helzberg.com, and more.

The “Every Kiss Begins with Kay” tagline was introduced in 1985 and has since become one of the most recognizable taglines in advertising history.

Kay Jewelers picked my song “Fall Into Me” to be in their new commercial!#

If you no longer need or want an item, it makes sense to sell it and put the money to better use. If you don't want to lose ownership of your valuables, using them as collateral to get a pawn loan is the way to go.

A pawn store will generally offer more money if you're selling your item instead of pawning it. However, it does depend on a few factors. For instance, if you're selling an in-demand item, such as gold jewelry or a high-end watch, the pawnbroker is more likely to offer you a higher cash value.

While pawn shops tend to offer more money to purchase items outright than to lend against them, it still will only get you about 50% of the value of your jewelry. Even if you need cash in a pinch, there are more lucrative ways to sell and get more out of the value of your jewelry.

Taxes if You're Selling Jewelry

If you sell it for more than $300, the profit from the sale is taxed. Your capital gains tax rate corresponds with your income tax bracket and can range from zero to 20%. If you sell your jewelry for less than its fair market value, this is considered a capital loss.

Since a round diamond is thought to hold the most value when compared to the other shapes, it will almost always be given a higher price than any other shape with similar clarity, color, and carat weight.

Why are diamonds so hard to sell? ›

Diamonds were formed billions of years ago and are extremely rare because so few are able to survive the difficult journey from the pits of the earth to reach the earth's surface. From the diamonds that are being mined today, only about 50 percent are thought to be high enough quality to be sold on the diamond market.

This graph is based on Worthy's business data from January 2020 through March 2022. If you are wondering whether now is the best time to sell your diamond, the answer is a resounding yes!

Sell your diamonds through a consignment shop.

Consignment dealers tend to offer better prices than other jewelry dealers. Rather than buying your diamonds from you, they will sell your piece for you and take a percentage of the sale price. So the higher the price they manage to get for you, the more money they make.

On average, you can expect the cost of a 2 carat diamond to widely vary depending on its shape, cut quality, clarity, color, and whether it's a naturally mined or lab diamond. The varying cost can range from $5,000 to $50,000 or more.

Your diamond engagement ring's actual value on the resale market will vary depending on a number of factors. However, the majority of engagement rings — those that were purchased for between $3000 and $5000 from a chain store — are often only worth ten to thirty percent of the initial purchase price.

Radiant Cut

Radiant are square or rectangular brilliant-cut diamonds with cut corners. They are often the most affordable diamond shapes.

With the average-sized engagement ring being a 1-carat stone, it's safe to say anything larger can be considered big. Most people think diamonds are big when they start to reach 2-carats or bigger. However, rings of this size are less common. This is one of the reasons that most people feel 2-carats is a big diamond.

Rule of thumb: A 1-carat diamond can cost as low as $2,000 and as high as $25,000. That means a middle-of-the-range diamond should be $11,000 - $12,000. Sounds simple, but that is overpaying. A good value, good quality 1 carat diamond should cost you around $4,500 - $6,000.

Definitely! While it's not the most expensive gold out there, 14K gold is still valuable as it contains real gold. The value of a piece is also dependent on its history, condition and composition. It's harder to resell gold items that contain elements like cadmium and nickel as we now know these metals to be toxic.

The most valuable type of jewelry is rare and old jewelry that hasn't been damaged in any way. If you're looking to invest in jewelry, gold, diamonds, silver, and other precious gemstones are the best options.

What jewelry brand holds its value? ›

The Value of Watches & Jewelry

Cartier landed the top mover spot in the fine jewelry category, with the brand's pieces retaining an average of 79% of their value at resale.

Like a car, a diamond is a depreciating asset since it loses a large portion of its value the second you buy it. Think about gold and silver. The market for them is very liquid and fungible since you can store coins, sell them at any time or even trade them later on.

Rhodium jewelry is usually sterling silver plated in rhodium. Rhodium is a lustrous, high-quality metal that contains no nickel. Any metal can be rhodium-plated, but nickel-free sterling silver is the best hypoallergenic option. No matter the base metal, rhodium-plating will protect against a reaction to nickel.

Best-selling jewelry: While necklaces are the best-performing jewelry category globally, women prefer earrings over other jewelry.

Durability and Hardness

Moissanite ranks second to diamond in hardness. While a diamond is a 10 on the Mohns hardness scale, moissanite comes in at 9 1/4. This means that moissanite is a great choice for an engagement ring, as it will still appear *sparkly* over a lifetime of wear.

If you're looking to sell your jewelry, a pawn shop is still likely your best option. This is because a retail store must be interested in your specific item in order for them to buy it. If your item isn't popular or rare or vintage, it is unlikely to sell, causing them to turn your item down.

We recommend taking the piece to a jeweler to be tested. They will have professional tests that will determine whether your jewelry is real as well as the purity of the metal itself. A certified appraiser will be able to provide the value of the piece as well.

Do you get more money for pawning jewelry or cash loans? ›

Getting the Most Money when Selling or Pawning Your Items

Often, you can get more money for your item by selling it. However, with a pawn loan, you can get the money you need, and you still get to keep your item. Go online and find out what your item may be worth.

If you walk into a pawn shop and try to sell an item without knowing its value, then you're asking to be ripped off. Much of what we own has no market value. However, things like jewelry, watches, cars, antiques and art are easily appraised for a fairly reasonable price.

The resale value of your jewelry, which is often less than the appraisal value, would not offer the same security as an appraisal for insurance purposes. That is why insurance agencies require an appraisal for almost all pieces of fine jewelry.

Yes, you absolutely should get your jewelry appraised! Here's why… A jewelry appraisal documents the value and key details of a piece.