Selling Jewelry? Learn How to Sell Your Jewelry. [This page is written for those people with marketable items, not the missing gold earring or broken chain, etc. these we would purchase for Scrap Value only] NEED CASH? Want to Host a Gold Party?
If you have arrived at this page, presumably it is because you have one or more pieces of jewelry to sell. On average, we receive 2 to 6 calls and/or emails each day from individuals who have jewelry they hope to sell. So, in response to those calls and simply as a service to anyone with jewelry they want or need to sell, we have created this page. If, after reading the page, you still have questions . . . please don't hesitate to call or email your question.
If you are among those with jewelry to sell, there are things you need to know in order to receive the most for that jewelry. On this page, you will learn the brutal truth about selling jewelry. However, you will also learn how to sell your jewelry items in a way that will make it possible for you to receive the most money for your jewelry.
Surprisingly, attempting to sell your jewelry to a jeweler could be one of the worst alternatives available to you. Jewelers seem to be on every corner when you want to buy a piece of jewelry, but they often show little or no interest when you have something to sell. Even the jeweler where you purchased the item may respond with, "We don't buy jewelry." Or, a jeweler may offer what seems to be an absurd price. Well . . . we're here to help and offer suggestions for selling and receiving the most for any jewelry item.
Typically, a jeweler will offer prices that are among the lowest you will be offered by anyone, other than a pawn broker, or the latest fad of the Cash for Gold and Gold Parties of today. When first considered, this may seem unfair or seem as though the jeweler is trying to steal your jewelry pieces. However, given some thought, there is a very good reason for the jeweler's low price offer.
In nearly every case, a jeweler can make or buy a piece of jewelry exactly like or very similar to yours. More importantly . . . the jeweler will be making that item or buying it at a wholesale price. So, why would a jeweler or any other businessperson offer more than wholesale for an item that they can make or buy at the same price? As a basic business decision, if the piece can be made or purchased by the jeweler at wholesale, there is really no good reason to even offer you the wholesale price. Unfortunately, the price you paid for the item or the appraised value of the item means little to a jeweler. The piece is simply going to be evaluated based on what the item would cost at wholesale. Consequently, unless you are willing to accept something less than wholesale, it is unlikely that you will sell anything to a jeweler. For that reason, and even though we are jewelers, we suggest that you try other alternatives before offering your piece to a jeweler. Fine . . . so, what do I do with my jewelry? You might ask…. Well, you do the following:
First, gather any paperwork related to the items you want to sell. If you don't have any paperwork, have your item(s) appraised. Anyone considering your jewelry, other than a jeweler, will want to know that it's worth what you're asking. With value documentation in hand, the following are your selling alternatives, best to worst.
Private Sale . . . Selling It on Your Own
1) Offer your jewelry to friends and acquaintances first. Hopefully, these are individuals who know and trust you. Without a "go-between" you are likely to receive the most for your items. This is probably the best of your alternatives.
2) Run an advertisement in your local newspaper. Start your ad with the words "must sell" . . . people who hunt the newspaper looking for jewelry items like to think they have you over a barrel. End your ad with the letters "obo" . . . which means "or best offer." This simply indicates to potential buyers that you are willing to "deal."
When pursuing this alternative, make sure you tell anyone who calls that your jewelry is kept at your bank, your jeweler or other secure location. You should never tell anyone that it is kept where you live. Obviously, this is for security reasons. If someone expresses interest, arrange to show your item(s) at your bank, your jeweler, or other public place. With this selling alternative, you will be responsible for ensuring your safety and the security of anything you are attempting to sell. The previous statement was not made to frighten you, but simply to ensure that you consider security issues that may be involved in your particular selling situation. We live with security issues every day.
3) List your item on the internet, eBay or Craig's List. Take a digital picture of your jewelry piece to include with the description. Pictures help sell your item. With internet alternatives, you must be alert to fraud. Make sure your money is in the bank prior to shipping. And . . . you should know that those who shop on the internet expect a "deal". So, if your item isn't marked well off the "value" you list, don't expect very many . . . if any bids. This is the worst of the "private sale" alternatives.
Remember that with the above selling alternatives, there are no go-betweens . . . so; you aren't paying anything to a third party.
Consignment Sale . . . Selling It Through a Trusted or Reputable Second Party 4) Place your jewelry on consignment with a reputable jeweler. Consignment will typically result in anything from a 70/30 split to a 50/50 when the item sells. We offer a 70/30split, with you receiving 70% of sale proceeds. With this alternative, the jeweler should take care of everything. And . . . a jeweler has jewelry clients and is able to accept credit card sales. Many people prefer this method simply because they don't have to worry about security or deal with potential buyers.
5) With major pieces of jewelry, items valued at $25,000 - $100,000.00 or more, you might consider placing your jewelry for sale with a reputable auction house. There may be a local auction house in your area; however Christie's & Sotheby's are two of the most recognized names in the international auction industry. With this alternative you will pay percentages and/or fees. The major problem with a sale at auction is that you can never be sure how much your item will bring. However, you can set sale price limits.
Cash Sale . . . Quick Sale 6) Offer your jewelry to a reputable jeweler for purchase. But, as noted above, don't expect anything near the retail value of you item. As with any other item, if you need to make a quick sale, you are not going to receive as much with this alternative. However, if you are dealing with a reputable jeweler and your price is reasonable, you won't have to worry about the check.
7) Offer your jewelry to a reputable "estate jewelry buyer" . . . but, don't expect much more, if any at all than a reputable jeweler might offer. One of the only good things about this alternative is that these estate buyers often pay in cash.
8) The absolute worst place to sell jewelry is to a pawn broker. You'll be lucky to be offered 10 cents on the dollar. Don't be surprised if you are only offered "scrap" value. This alternative should only be considered as . . . an act of desperation, or if your jewelry just isn’t marketable.
Summary: You are likely to receive the most money for any jewelry item you have to sell by: 1) selling it on your own to another individual, or 2) leaving it on consignment with a reputable jeweler.
We wish you success with your jewelry sale and hope this page has been both interesting and informative.
Please don't hesitate to email or call us with any question(s) about selling jewelry or consignment jewelry.
All of our Jewelry Services are warm and personal . . . and we hope to earn the confidence and trust necessary to become your "Personal Jeweler". Again, if you have any questions about selling your jewelry or jewelry consignment, please don't hesitate to call ASHTON/CHRISTOPHER. |