Consigning or Brokering Your Previously Owned Jewelry
We provide this service for people who wish to sell their previously owned diamond and jewelry. Most people don't realize that there is a market for previously owned jewelry, and Malnekoff Jewelers can help you with our services. Please review all the details below before contacting us for a consignment consultation. Please email at firstname.lastname@example.org or call 312-332-7054 and speak with Peter Malnekoff directly to setup up the appointment.
Consignment or Broker Consultation Procedures
- You must review your jewelry documentation, which should include the original sales receipt, an appraisal and if there is a diamond over .50 carat, usually a gem lab diamond certiicate issued by the GIA, EGL, IGI, AGS or other accredited diamond laboratories. The diamond certificate is usually laminated and describes the qualities of the diamond needed for sale. It is like the title to the car and is important for you to have. If you do not have any of these documents, you can call the original selling jeweler and request copies of the sales receipt, the appraial and the diamond certificate. Its computerized and should be available and they should be able to supply you with replacement documents. If you cannot obtain the original doucuments, we will assist you further.
- Please email your receipts and lab documents to email@example.com or you can fax them to 312 332 5918. Please include your full contact information so we can reivew your documents and advise you before coming down to the showroom. There is no charge for this review.
- After we review your documentation, we will email or call to discuss the options and our interest.
- It is better for us to review the documentation before the appointment, but if you dont have any documentation, we can refer you to a professional gemology laboratory for independent peace of mind. We need to discuss with you what you have to consign to better advise you if you dont have any documentation.
- Call or email to setup a consignment consulation. This is not an insurance appraisal consultation. The consignment consultation will advise you what the cash sale price is and the consignment valuation, which is usually higher than the cash sale price. The consignment review time is usually 15 minuters per item, and there are a maximum of four items to be reviewed per consultation visit.
- Our Consignment Process: We guarantee you a specific consignment price that you will receive for your item. This way you will know in advance what you will receive, rather than other places just working off a commission on what they sell for you and they can come back to you with offers less than what you should get.
- At the consignment consultation, we ascertain the marketability, the current cash value, the consignment value you will receive and the cost of refurbishing the jewelry to look like new.
- Costs: If you decide to have us act as your Broker to sell the items to the diamond cutting factories, there is no charge. If you leave the items on consignment with Malnekoff Jewelers, there is no charge. If you decide not to choose Malnekoff Jewelers as your Broker or Consignment Agent, the cost for a consignment consultation is $75 per jewelry item, or $150 for two to four items.
- If you agree to leave it on consignment, we issue you a consignment agreement contract (in plain English) that protects you and guarantees you what you will receive.
- Another option is for You to sell it yourself to a private party with a current appraisal from Malnekoff Jewelers. The advantage for this choice is you receive approximately 25% more than a consignment price. The disadvantage are the risks of advertising your own jewelry for sale, your personal time, and the potential for theft and error when selling to a private party.
- Consignment with Malnekoff Jewelers is the right choice to maximize the value of your jewelry with no risk. If you leave your jewelry on consignment, the appaisal fee will be refunded to you when your item is sold. You will find us courteous, respectful, and understanding in helping you consign your unwanted jewelry.
Broker Jewelry Sales for You
- Malnekoff Jewelers can also act as your broker if you desire to sell your jewelry immediately. We will determine the market range for cash sale to second hand jewelry buyers, and will act as your broker for the sale. Malnekoff Jewelers will offer your jewelry to all the jewelry buyers on your behalf, and try to get you the highest cash price for immediate jewelry sale. After you approve the sale price, we charge 10% of the sale price for our services.
- Please review the consignment consulation process above. The same process and information is needed for us to act as your broke for jewelry sales.
Trade-In Jewelry Policy: For Engagement Rings, Diamond Stud Earrings, Diamond Tennis Bracelets purchased at Malnekoff Jewelers
- Diamonds are forever, only they can get bigger, much bigger. This is why we offer a lifetime diamond trade in policy on your diamond purchase Malnekoff Jewelers.
- Engagement rings, diamond stud earrings, and diamond tennis bracelets purchased at Malnekoff Jewelers, will be accepted as a trade in for new merchandise. The diamond or jewelry being upgraded must be in its original condition free of any chips or scratches, and also must be accompanied by it’s original GIA or AGS laboratory report if issued.
- This enables you to trade in or upgrade your diamond for a larger or higher quality stone or jewelry and get a 100% credit* of your original diamond purchase. The only condition necessary is that that the new diamond or jewelry you are purchasing must be at least twice the value of your original purchase, documented with the original receipt. Our computer may be able to search for original purchases upon request if you do not have the original receipt.
- Your trade in jewelry will be credited for the original selling price (minus sales tax, custom work and shipping). All items must be in pristine un-damaged condition and verified to be exactly the same item as sold to you by Malnekoff Jewelers. Other jewelry items including watches are not included for the full trade in value policy and will be reviewed and quoted on an item by item basis.
- Online diamonds, diamond earrings and bracelets shown on the website are not available for the Trade-In Jewelry Program. Only showroom diamonds, earrings and bracelets available in the showroom can be chosen for the Trade-In Jewelry Program.
Trade In for jewelry not purchased at Malnekoff Jewelers
- For jewelry not purchased at Malnekoff Jewelers, we are happy to advise you of the current trade in value on a new jewelry purchase. For a Trade-In appointment consultation, please call for an appointment and bring your jewelry documentation of your original jewelry item. If you do not have any documentation, please advise us during the call in for appointment.
- Independent of us is the cash market price for your trade in jewelry.
- If you went to three jewelers, you will hear all the same cash values within a 10% range of each other. That's the value of your trade in to the jeweler, so he can resell it. The appraisal value has no bearing on the cash value, or what you paid for it, because the retailers profit was included, as well as the diamond cutter and the ring manufacturer profit also. And then there is the time factor. Our value added is to get you the most dollars for your trade in and then get you the best price for the new diamond and ring. Information is power and we are here to help.