I have included an excerpt from an article in National Jeweler. As you can see some poor resident of Baltimore sold what they thought was a mediocre diamond for a lot less than it is worth. Don't be to eager to cash in on the sell your jewelry for cash frenzy without an objective appraisal of your jewelry from a reputable source.
(Photo...Black Diamond Bracelet from Jeweler Shana Kroiz.)
NJ Article
Baltimore--Last year, Ron Samuelson, chief executive of Samuelson's Diamonds in Baltimore, bought an 8.5-carat brownish-yellow round diamond mounted in a men's nugget ring from a customer who was seduced by the "sell your jewelry" offer on the store's Web site.
"It was a big, ugly stone," Samuelson recalls. "When we showed it to our cutter, he said, 'Yeah, I could make this into a fancy yellow.'"
The resulting diamond, a 6.86-carat fancy-yellow radiant, is now part of the store's inventory, and Samuelson is confident that when he eventually sells the stone, it will net him a tidy profit.
"I've almost eliminated my need for diamond dealers," Samuelson says. "For every one person who wants to buy a diamond, 20 want to sell."
As a comment on supply and demand in the high-end diamond trade, the Samuelson's transaction is fitting though hardly anomalous. On Manhattan's 47th Street, it happens countless times a day.
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