Jewelry Articles

Where To Sell Jewelry

September 7, 2017 - Jewelry Articles
We are all guilty of holding onto things that we do not need or no longer wear. Whether it’s jewelry that you have fallen out of love with or an old engagement ring from a previous relationship, selling your pre-owned jewelry is a great way of clearing up space and making some extra money. Since online marketplaces and online auction sites have become increasingly popular, the options for selling your jewelry are many and it is not always easy to decide which path is the best option for you.

If you are trying to find out how to sell jewelry and where the best place to sell jewelry is, this will guide you in the right direction to make your sale. This article is for anyone with the following questions in mind:

reasons to sell jewelry

WHAT DO I NEED TO DO BEFORE SELLING MY JEWELRY

  • Gather your jewelry and documents: Your first step should be to gather the jewelry you would like to sell, any original packaging it came in and documents that accompanied it. The original box and papers help to prove that your item is authentic and many buyers favor jewelry that comes with its original box and papers, provided that they are in a good condition. If you do not have any documents, however, you can still sell your piece.
  • Be realistic: It is important to remember that although your jewelry might hold great sentimental value to you, its monetary value will not reflect that. Not only do you need to decide if letting go of your jewelry is something you are happy to go ahead with, but you need to be realistic about how much money you will be able to make from it.
  • Check the condition of your item: If your jewelry is an older piece or has been well loved, it might need a little attention. Look out for scratch marks or missing jewels and determine whether your jewelry could do with some restoration (always consult a specialist to restore jewelry, unless you are looking to polish your silver or gold jewelry, which can be done at home).

 

WHERE CAN I SELL MY JEWELRY?

There are five main ways of selling your pre-owned jewelry:

  1. Sell privately
  2. Scrap
  3. Specialist jewelry buyers
  4. Pawn
  5. Auction

But which is the best option for you? Below we outline the advantages and disadvantages of each jewelry selling option.

 

WHERE IS THE BEST PLACE TO SELL JEWELRY?

1. Sell privately

The first option is to make a private sale, which would consist of selling your jewelry to another member of the public as opposed to a specialist or a trade buyer. This would usually entail selling to a contact who is interested in your item or by selling your jewelry online through an online auction marketplace such as eBay or Craigslist. Although this is a quick and easy way to sell your jewelry, these sites do not strictly specialize in selling jewelry. The issue with this is that you may end up underselling your item either because there may be no comparable items online in order to make a correct evaluation, and because professional buyers will tactfully underbid or underpay if they are being sold to by a member of the public with no jewelry expertise. It can also take a considerable amount of time when selling in this way.

Note: Although selling jewelry online can be safe, selling more valuable items on sites such as eBay or Craigslist can be risky. Find out the safety rules to follow when selling on similar websites here.

A good option if: You already know how much your item is worth, are not in a rush and a trustworthy buyer is interested.

 

2. Scrap

The second way is to scrap your jewelry but before making this decision, you need to estimate whether the material value is higher than the value of the jewelry itself. For example, designer or luxury jewelry’s value is not only in the materials used but the house by which it was designed and the rarity of that particular design.

A good option if: Your jewelry is not designer and not rare.

how do i know how much my jewelry is for
3. Pawn

Another method is to pawn your jewelry, which is an alternative to outright selling, as you can hand over your jewelry to a pawnbroker in exchange for a loan. You may then retrieve your item once the loan has been paid off, however, there will be substantial interest that you would need to pay on top of the loan.

A good option if: You need funds now but would like to retrieve your item at a later date. You must be sure to be able to make payments on time, however.

 

4. Auction

You may, on the other hand, decide to auction your jewelry at an auction house. This is a great option for ensuring you sell to specialists with an understanding of the value of your jewelry. The only downside to this process is that it tends to be a rather lengthy process, especially as these auctions do not occur extremely often and you may have to travel a significant distance to attend one. Do remember that there is no guarantee of sale and that the auction house will also be taking a percentage of the final sale price.

A good option if: You are looking for a memorable selling experience and are not in any rush.

 

5. Specialist jewelry buyers

The final option is to sell your jewelry to specialist buyers. Whether you are looking to sell online or in person, at WP Diamonds, we buy your diamond, gemstone or designer jewelry with absolutely no hidden costs or fees involved. You can either make an appointment to visit us in person or send us your item through our free, insured and secure service. Once an expert has provided you with a competitive offer, you will receive your money in as little as 24 hours. Fill in the online form today to receive your estimate.

A good option if: You would like to safely and quickly sell your jewelry for the best possible price.

 

IS IT SAFE TO SELL JEWELRY ONLINE?

When working with a reputable jewelry buyer such as WP Diamonds, yes. We have an A+ BBB rating and works with hundreds of satisfied customers every day. We provide FedEx Priority Overnight Shipping that is fully insured, you can track every step of the way and that arrives the following day. Your jewelry will be opened on camera, and we return your item should you choose not to accept the offer. Selling jewelry online to WP Diamonds is straight forward and secure. Fill out the online form to receive your price quote.

Author
Bio: Written by one of our diamond, designer jewelry or luxury watch experts. With over 150 years of combined experience, our experts are able to comment on trends, share industry knowledge and provide diamond, designer jewelry and luxury watch education.

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