Shocking Things You Should Know About Your Diamond Buyer

Diamond Buyer JewelryIf you have jewelry that you are looking to sell or even trade, how do you start your search for a diamond buyer or a jewelry buyer? Do you head to the Internet, thumb through the yellow pages, talk to friends? No matter which route you choose to take to find the perfect person who is going buy your precious goods, it is important that you trust that person before you even allow them to take a look at your jewelry or gold.

Why Should You Trust Your Diamond Buyer?

There are several reasons you should trust your diamond buyer, but the most important reason is this.

They are going to be writing you a check for your goods.  What recourse do you have if you go straight to the bank and that check is not good? Okay, so say that happens and you go back to your diamond buyer and he’s gone. The storefront is closed down, or wherever you met him is gone – along with your jewelry. Now what? Call the police and the Better Business Bureau.  But, this person never existed.  And, your jewelry is now gone.  Hopefully you had it insured so you can recoup your losses.

Believe it or not, this happens more times than I care to tell you about.  I have heard about it from clients over and over, and it’s a hard lesson to learn. So, how do you protect yourself?

Steps to Take to Make Sure Your Diamond Buyer is Legit

  1. Contact the Better Business Bureau.  In the end, this is the best source of information for any business you are going to encounter, especially for service-based businesses.  If the business is legitimate, they will be registered with the BBB.  If they are a really good business, they will have no complaints and you will then feel confident when you meet with them.
  2. Check out the website.  It’s true that anyone with an ounce of Internet sense can throw up a website these days, so look around and see if all the links work.  Is it written in English that has good grammar and punctuation? Does it make sense? Is there a legitimate way to get in touch with a phone number and address? Does the about page tell you how long they have been in business and is it personable? Does the website have a blog that offers content that shows that this diamond buyer knows what they are talking about? Does this person speak to you and offer confidence that they established and trustworthy? Is there a testimonials page?
  3. Check out the testimonials.  Here’s another thing that can easily be plagiarized.  Testimonials should not JUST be listed on a website, but is there a form on the site for people to upload their own testimonials? You can also call the diamond buyer and ask them for references before even meeting them.  If they won’t give you names and numbers, then run, don’t walk in the other direction! Remember, testimonials can be found all over the internet, so start a Google search and check out all social media outlets that the diamond buyer has a presence on.
  4. Social media presence.  It’s also a fact that any fool can throw up a Facebook page and a Twitter profile or a Google + business page.  But, you still should check them out and look at the content that is placed on these accounts.  How active are they? Do they get good feedback and are their followers responding to them? Is their Google + business profile well laid out and is it on Google Maps? How many testimonials show up on their Google + profile? How many people are following their business page? Do they even have a social media presence?
  5. Recommendations from friends. Word of mouth marketing is the best type of marketing you can get next to a great recommendation from the Better Business Bureau.  If your friends or friends of friends had a good experience then chances are you will as well.
  6. Converse before you sell.  This is the same concept as hiring a divorce attorney. You need to interview the diamond buyer before you even show them your jewelry.  If you don’t feel comfortable, get up and leave.  Make sure you are meeting them in a professional setting and that they are professional with you.  Also, don’t be afraid to shop around and tell your diamond buyers what prices you are getting from others because you never know if they can beat those prices.
  7. Ask about all the policies about how they pay and the recourse you have. This is a biggie. All diamond buyers will have something in place in case the check doesn’t cash or you lose the check or something else that is unforeseen happens.  Ask them what their policy is. If they hem and haw, RUN.  Make sure you understand whether or not you can buy back your jewelry if you want and at what mark up from what they bought it from you and how long you have to do so.
  8. Make sure they ask for all the proper paperwork and complete all the proper documentation.  What is the proper paperwork and documentation? First, a diamond buyer who is going to be writing you a check will be asking you for a driver’s license, and they will be making a copy of that license.  Also, for any gold that is being bought, you will be signing a leads online paper, that states that what you are selling you own.  This goes into the police database, so that if this item has been reported as stolen, the police are alerted.  The diamond buyer will take a picture of each and every item they purchase as well as a picture of you.  These are laws, not optional but mandatory laws, so if your buyer isn’t following them, he or she isn’t legit.
  9. Watch how your diamond buyer handles your goods. This is also important. Each buyer does things differently, but some things remain the same.  All the gold should be tested with a legitimate machine, even if it is stamped.  After it is tested, then it should be weighed and calculated for price.  All gemstones should be looked at through a loop and some should be taken out of the setting, and before anything is taken apart, you should be asked first.  The buyer should also ask for all paperwork and boxes on all your items if they know what they are doing.  If they handle everything with care, they actually respect the jewelry and in turn respect you.  If they don’t, then they will most likely throw it in a drawer after you leave and you better hope the check cashes!
  10. Gut instinct goes a long way.  In the end, trust what your gut instinct tells you.  If you gut is telling you to run, run and if it is telling you to trust, trust!

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Sergio About Sergio

Sergio Nuncio has been a diamond and watch buyer for over 20 years. He loves valuating fine estate jewelry, diamonds, watches and gold. When Sergio isn't working with diamonds, he is working on his salt water aquarium, fishing or spending time with his wife and children.

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