By Gary Duff | March 9, 2018 | Watches & Jewelry
Knowing when and where to sell your jewelry is difficult to figure out without the right help. So we asked one of the jewelry industry's leading experts DELGATTO Founder and CEO, Chris Del Gatto, about when the right time to sell is.
Tell me a little bit about what DELGATTO does, for those who haven't had the experience of reselling their jewelry with you.
CHRIS DEL GATTO: To put it simply, DELGATTO is the largest buyer of diamonds, jewelry, and watches from the general public globally. When a client brings us a diamond or an item of jewelry that they no longer want or wear anymore we are able to give them two distinct options. We will always make a direct offer for immediate payment, or we can list their item for a higher price on our online marketplace. It is the largest of its kind and exposes the jewelry to thousands of buyers daily. We can list the item for a week, and even if the item does not sell the client will still have an opportunity to accept our direct offer. We are the only company that offers these two options.
How do I know when it’s the right time to sell?
CDG: The right time to sell is when you’re not wearing it anymore. What’s wonderful about jewelry is that years later, you’re going to get a percentage of your purchase price back and if you keep it long enough, you may make all your money back. It’s not an investment, but it is wonderful after wearing something for maybe 20 or 30 years, to sell it and make your money back. It's the only luxury purchase that I know of, with the exception of a novelty car that turns classic, where you could hold an item and truly make your money back.
Jewelry is an investment only in terms of the dividends it pays and the happiness it returns when wearing it. Once that stops, jewelry should not sit in a draw or a box. Jewelry should have a career.
You must see a tremendous amount of jewelry every year, but what has been the wildest find?
CDG: We’ve been lucky enough to buy from the royal houses in Europe as well as most of the world’s largest collectors. Years ago, I bought a tiara that was owned by Napoleon's sister, a necklace that was owned by Marie Antoinette, one of the largest diamonds ever bought, a cushion cut diamond in excess of 60 carats. We've been really, really lucky.
Five years down the line, are there expectations for where you want to be?
CDG: I think like all jewelry companies, we're focusing on online where more and more influence is. We're heavily invested in online technology and do the majority of our business remotely. Our hope is to continue building one of the largest marketplaces for people who want to buy or sell through our platform. We also have proprietary technology that allows clients to text us from anywhere, at any time with a picture of something and a brief description. When they do, they get a text back with a jewelry evaluation, which is something only our company offers.
To find out more about where to sell or buy your next piece of jewelry, visit del-gatto.com.