When a young woman’s wedding engagement was recently called off, rather than wallowing in sorrow, she brought her 6-carat fancy yellow diamond engagement ring, worth about $125,000, to SellJewelry in midtown Manhattan and sold it on the spot for an undisclosed sum.
If a treasure has become unwanted—because of a broken engagement, a divorce, or simply a change of heart—SellJewelry will consider purchasing it. Some clients visit the company’s Manhattan or Chicago offices for a consultation with an appraiser, while others send in their jewels for evaluation. In either case, once the client accepts an offer, he or she is presented with a check immediately.
“Most people find their lifestyle or tastes change, and they no longer wear certain watches or jewelry,” says SellJewelry CEO Chris Del Gatto, who works with an international network of private dealers and retailers. “A nonperforming asset that is sitting in a drawer is a potential liability.”