Many people with a diamond to sell never bought it themselves. It came from a parent or grandparent: a ring, a pair of earrings, a brooch, a box of pieces nobody has worn in years. This page is for families in Queens, from Astoria and Jackson Heights to Forest Hills, Flushing and Bayside, who are deciding what to do with jewelry like that. It covers sorting a collection, the questions to settle before anything is sold, and how to get offers you can trust.
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 family jewelry from Queens? Call, and an independent New York buyer comes back to you.
Settle who can sell it first
Before any piece is sold, make sure the person selling it is the one entitled to. If the jewelry is part of an estate that is still being settled, ask the estate’s lawyer. If family members disagree about who should have a piece, settle that before anyone takes it to a buyer. A sale in New York City is recorded with the seller’s name, address and ID, so it is not something to undo quietly later.
Sort the collection
- Separate pieces with diamonds from pieces without.
- Look inside rings and on clasps for karat stamps such as 14K or 18K, and for ‘sterling’ or ‘925’ on silver. Under the FTC’s guides, ‘sterling’ means at least 92.5% silver.
- Set aside anything marked as gold plate or rolled gold plate: it is not solid gold.
- Look for any papers: grading reports, receipts, old appraisals, boxes from a maker such as Tiffany & Co. or Cartier.
- Keep each piece whole. Do not take stones out of old settings yourself.
Does the estate need a written value?
Sometimes an estate needs a written value for reasons that have nothing to do with selling, or a family wants a neutral figure before dividing pieces. That is the job of an appraisal, not an offer. An appraisal states a value for a stated purpose and the appraiser is not offering to buy. Ask the estate’s lawyer or accountant what kind of valuation they need, and read about diamond appraisal in NYC before you pay for one.
Old stones often have no report
Diamonds in older jewelry often have no grading report. That is normal. A buyer judges the stone on the four Cs, the factors GIA set out in the 1950s: clarity, color, cut and carat weight. Because each buyer’s estimate can differ, getting more than one written offer matters even more for inherited pieces. If a stone does have a GIA report, GIA offers a Report Check on its website where the number can be looked up. The page on how to sell loose diamonds explains reports in detail.
Getting offers from Queens
One choice is to take the whole collection to the Diamond District, on West 47th Street between Fifth and Sixth Avenues in Midtown Manhattan, where several buyers can see it in one trip. The 47th Street BID lists the B, D, F or M to 47-50 Streets Rockefeller Center among the nearest stops. The guide to the Diamond District NYC explains how to compare offers there.
Wherever you sell in the city, the buyer must hold a DCWP Secondhand Dealer General licence, check your photo ID and have you sign in front of them, weigh any gold on an approved scale and tell you the troy weight, and record each item sold. Ask each buyer to value the diamonds and the metal separately; the page on how to sell gold in NYC explains the metal side.
Taxes on inherited jewelry
Selling inherited pieces can have tax consequences, and the rules depend on the estate and the sale. The IRS says net capital gains from selling collectibles, such as coins or art, are taxed at a maximum 28% rate (Topic 409). Ask a tax professional before you sell a large collection.
Questions people ask
Can I sell jewelry I inherited?
If you are entitled to it, yes. If it is part of an estate still being settled, or ownership is in doubt, ask the estate’s lawyer before selling.
Is old diamond jewelry worth selling without papers?
It can be. Many older stones have no report, and a buyer grades them on the four Cs. The metal is weighed and valued separately. Get more than one written offer.
Does Diamond Buyers NYC buy estates?
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.