Many people who sell a diamond in the Bronx are selling gold at the same time: the setting of an engagement ring, a chain with a diamond pendant, a bracelet with a broken clasp, earrings with one missing. That mix is worth understanding before you go to a buyer, because the diamonds and the gold are priced in completely different ways. This page is for sellers from Riverdale and Fordham to Pelham Bay and Throgs Neck.
Diamond Buyers NYC is an independent referral service, not a buyer, pawnshop or dealer. When you call or send the form, your details go to an independent buyer in New York, who makes any offer.
Selling diamonds and gold from the Bronx? Call, and an independent New York buyer comes back to you.
Two valuations in one piece
A diamond is judged on the four Cs: clarity, color, cut and carat weight. Gold is judged on its weight and purity. A buyer looking at a diamond ring is really making both judgments and adding them up. Ask each buyer to tell you the two parts separately, so you can see where any difference between offers comes from.
The gold side
- Karat. Pure gold is 24 karat, so the gold share is the karat divided by 24: 10K is 41.7% gold, 14K 58.3%, 18K 75%.
- Weight. Gold is weighed in troy ounces. One troy ounce is 31.10348 grams, heavier than a kitchen ounce.
- Melt value. Weight in troy ounces x fineness x the day’s spot price. An offer is usually below melt, because the buyer pays to refine the metal and needs a margin.
- Plate. Gold plate or rolled gold plate is a layer over another metal and is not solid gold.
The page on how to sell gold in NYC works through an example with a placeholder spot price.
Broken and odd pieces
A broken chain or a single earring is still gold, and its diamonds are still diamonds. Do not throw anything away, and do not try to repair a piece before selling it. Bag broken pieces together, keep any small stones that have come loose in a closed box, and bring them all.
The scale and ID rules
In New York City, a business that buys gold, silver, jewelry or other precious metal must have a scale and tell you the troy weight. The scale must be a type approved by the New York State Department of Agriculture and Markets, read in divisions of 0.01 troy ounce or smaller, and be marked Class II or III. The buyer must also see your official photo ID, record its type and number and have you sign in front of them, and must hold a DCWP Secondhand Dealer General licence posted in view. These rules apply in the Bronx exactly as they do on 47th Street.
Selling or pawning
If you need money but want the ring back later, that is a pawn, a loan against the piece, and in New York City it needs a separate DCWP pawnbroker licence. If you do not want it back, you are selling. Know which one you are being offered before you sign anything.
Getting more than one offer
The Diamond District, on West 47th Street between Fifth and Sixth Avenues in Midtown Manhattan, puts many buyers on one block, which makes it easy to compare. The 47th Street BID lists the B, D, F or M to 47-50 Streets Rockefeller Center, the 6 to 51st Street and the 1 to 50th Street among the nearest stops. The guide to the Diamond District NYC explains how to compare offers there, and the page on how to sell diamonds in NYC covers the whole sale.
Questions people ask
Do I have to sell the gold and the diamond together?
No, but it is usually simplest to bring the piece whole and ask the buyer to value the stone and the metal separately.
Will a buyer tell me how much my gold weighs?
In New York City a business that buys precious metal must have a scale and tell you the troy weight. Watch the weighing and write it down.
Is Diamond Buyers NYC a buyer in the Bronx?
No. Diamond Buyers NYC is an independent referral service, not a buyer, pawnshop or dealer. Your details go to an independent buyer in New York, who makes any offer.
Call the line
One number, answered in New York.