Hot off its success buying up everyone's unused gold, one of Americas most recognized gold buyers, Cash for Gold USA, is now ready to buy your diamonds. The new company, Cash for Diamonds USA, aims to offer you top dollar for your precious stones, and will even pay you for the gold setting if you're sending in a wedding band or other piece of fine jewelry.
Cash for Diamonds USA operates in a manner similar to it's gold buying counterpart, including the use of a free appraisal kit to send your diamonds in. All shipments to Cash for Diamonds USA are shipped via Fed Ex and packages are insured up for $1,000.
Unlike the gold testing process, which relies on numerous tests to value your gold, Cash for Diamonds USA makes use of GIA certified appraisers who are specially trained to value diamonds. These are the same experts that many jewelry stores rely on to assess the quality and value of their diamonds.
Even though Cash for Diamonds USA offers a decent insurance value, quick turnaround and expert appraisers, it may not be the best time to sell your precious diamonds. Unlike gold the price of diamonds has fallen which means unless you absolutely need the cash, you might be better off holding on to that old engagement ring for another year.
Luxury blog Luxist.com points out that taking your jewelry to a local jewelry may be the better choice when it comes to selling diamonds. It offers three great reasons to sell locally, but in the end it all boils down to the fact that in a local setting you, the consumer, have more power and a greater chance of coming out on top. The most compelling reason to take it to a local jeweler instead of shipping it to Florida is that your favorite piece of jewelry may be worth more as a whole than as a sum of its parts if it is vintage or otherwise special.
Before you go handing all the bling you purchased in the boom days of the early 00's to the Fed Ex guy, take 15 minutes and have your jewelry looked at by your local jeweler. If you're looking to sell it to them; they shouldn't charge you an appraisal fee, and if you need cash, most should be able to cut you a check in minutes instead of days. Best of all, if you don't like what they are offering, you can always try another jeweler or call up Cash for Diamonds.
Update: An earlier version of this post erroneously linked this company to Cash 4 Gold rather than Cash for Gold USA; a different gold buying company.
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