Summarize:

When you sell to a dealer, you have a few options. Pawn shops and diamond buyers can offer you money as soon as your piece is accepted, while jewelers may sell your piece on consignment, in which case you will get the money after the piece is sold. Auction houses can also help you sell a particularly valuable piece, and will get the money to you once the auction is complete.  Selling on consignment often takes time, but can lead to a greater value for your ring, as the better the price the consignment seller gets for the ring, the more money they make for you as well as for themselves. If you are selling a piece of considerable value, extending into five or six figures, consider selling with an established auction house such as Christie’s or Sotheby’s, or otherwise working with an established fine jeweler who specialized in high-value items. Regardless of whether you work with a pawn shop, jeweler, or diamond buyer, you will need to either take or send your ring in for inspection and verification. Take your ring into the potential buyer and bring any information you have regarding the piece including any certificates or appraisals.  If your jeweler finds a number of flaws or issues with the diamond that were not mentioned by your appraiser, you may want to consider taking your piece elsewhere, as the jeweler may be trying to give you a low offer. It is always advisable to check the reputation of your jeweler before you bring your ring into them. Look online and talk to others you know who have sold jewelry to a dealer to find one that you can trust.  Do not be afraid to take your ring into a few jewelers or dealers to see what kind of sale they can offer you. Once you have found the jeweler or dealer with whom you want to work, talk to them about your terms of sale. If you are looking for them to buy the diamond that day, ask them, “Would you be willing to pay the price you quoted today to get this piece?” Otherwise, sit down with them and discuss the terms of the consignment or auction.  When working with a jeweler, there is often room for negotiation. Do not feel the need to accept low-ball offers worth less than half the appraisal value of the ring.  When working with a consignment seller, be sure to ask them in advance what percent of the sale they retain for their fee, as well as how long they will keep an object on consignment before returning it to you. Regardless of whether you are putting your piece on consignment or selling directly to a dealer, make sure you get a written agreement regarding the base price of the ring and your terms. Make sure to include documentation of your ring, such as a photograph, as well as a copy of the appraisal, so that you can establish your ownership of the ring until it sells. If providing a written agreement is not part of the standard practice for the jeweler you are working with, take your business elsewhere. You don’t need to call the dealer or jeweler daily, but check in once a week or so for updates on the sale. This can help you get a better idea of how hard they are working on moving your ring, and give you peace of mind that the ring is still on the market.
Decide what type of dealer you want to work with. Bring your ring in for review. Establish your terms of sale. Get a signed deal. Check in on consignments regularly.