There are several reasons you might want to sell jewelry. Maybe you have a stack of old jewelry, or perhaps you have a handful of inherited jewelry—whatever the reason, we’ve got you covered with this article.
Knowing how to sell jewelry is important to make sure that you don’t get ripped off. In this article, we’ll go over some of the main methods for how to sell jewelry so that you know which method is right for you.
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Joyce Layered Stack Ring
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What is your jewelry worth?
Depending on where you obtained the jewelry piece, you may have no idea what it’s worth. If you bought the jewelry yourself, then you’ll know what the retail value is already. If you don’t know, one option is to get the jewelry evaluated (if you think it’s worth enough money—evaluations can be expensive!).
If you don’t want to spend money on an evaluation, you can get a ballpark value for your jewelry’s worth by determining the materials and measuring their value. For instance, if you have gold jewelry and you know it’s solid gold, you can weigh your jewelry and estimate the price of the gold alone. The same goes for any gemstones in the piece.
Many things contribute to the price of jewelry, including its beauty, rarity, brand (if applicable), and materials, including gemstones. Keep in mind that you will rarely get close to the retail value for your old jewelry when you go to resell.
One of the easiest methods is selling jewelry online. If you know the value of your jewelry (or have a ballpark figure), there are several websites that you can use. Depending on the type and value of the jewelry item in question, you may want to sell on a marketplace or auction.
It is easy to find a jewelry buyer website online. These jewelry buyer websites will generally be one of two types. They will either offer you a cut-and-dry price for your pre-owned jewelry, or they’ll offer a consignment. These may be more suitable for fine jewelry, expensive antique jewelry, luxury jewelry, and diamond jewelry (like a diamond engagement ring).
If the online jewelry store offers you a direct price to sell your old jewelry, you need to make sure it’s a price you're happy with. There are several good practices to make sure you don’t lose money when selling jewelry online.
First, make sure you understand the jewelry buyer and their terms and conditions. Check their reputation with the Better Business Bureau as well as customer reviews. Make sure you have a reputable website that you are comfortable with—that will pay you an amount you’re happy with!
When it comes to a consignment shop, the store will generally evaluate your piece and hold it until they make a sale. Then, the store will take a cut (for instance, 15%) based on the sale of the consignment piece. This can be a good option as it takes the work out of selling jewelry, and individuals will typically pay a higher price for jewelry than a jeweler will.
The same goes for in-person sales. Every second-hand jeweler and pawn shop will accept jewelry (given that it’s of acceptable quality). As with online, make sure you accept their prices and conditions. Second-hand stores will often try to undercut the value of a jewelry piece to make a higher profit.
The good thing about selling in person is that you don’t have to be as concerned about getting scammed—you swap the jewelry for money then and there.
An easy method (suitable for a less valuable jewelry piece) is to sell your unwanted jewelry via an online marketplace like Facebook, eBay, or Gumtree. This is a straightforward method for low-cost second-hand jewelry. Simply take pictures of your jewelry and post them, then wait for the offers to come in.
Sell for scrap
If your gold jewelry is damaged or just isn’t worth that much and you can’t find any interested buyers, selling it for scrapis a great final choice. Determining the scrap value of a jewelry piece is as easy as knowing what kind of metal it’s made of (solid gold, plated gold, etc.), weighing it, and calculating its price via the price of gold.
Selling jewelry is easy nowadays, and there are endless jewelry buyer websites that will take almost anything as long as it’s worth something. Gold jewelry and diamond jewelry (especially if it’s designer jewelry) will always be bought up—just make sure the price is right.
Follow our tips for how to sell jewelry to make sure you get a great deal, and good luck selling!