For most, a piece of jewelry contains an immeasurable sentimental value, which makes it almost priceless. Special pieces like wedding rings and heirlooms are indeed something we intend to keep forever. But life doesn’t always allow us to do so.
One of the reasons jewelry is a good investment is their ability to retain their values, particularly the most unique and coveted pieces, like Art Deco and antique ones. They will be beneficial if you run out cash or have trouble repaying a debt. It will be hard to part ways with your beloved jewelry this way, but this is just how they love us back- by being a sacrificial item to overcome difficult times.
That said, if you’re currently considering selling your most valuable jewelry pieces, here’s how to do it fast, and for a just price.
1. Have it Professionally Appraised
To you, an heirloom necklace is absolutely the most precious thing in the world, but to its potential buyers, it’s just another expensive necklace. Its gemstone might not even be authentic, so before rushing to price your jewelry and putting it up on the market, have it professionally appraised first. This will help you lower your expectations and avoid disappointments from disbelieving buyers.
Note, however, that your jewelry may also not sell for a price close to its appraised value. It’s just exceptionally rare for secondhand jewelry to sell anywhere near its purchase price, according to Howard Rubin of the U.S.’s National Association of Jewelry Appraisers. The actual amount you’ll obtain for your item will depend on factors like its rarity, beauty, origin, and materials used. (e.g. gold, diamond, silver)
2. Arrive at a Realistic Price
So how will you price your jewelry in a way that will appeal to buyers, but not disadvantageous to you? An appraiser can also help you with that. They are updated with the current market trends, where they would base your jewelry’s resale value.
You can also do it the same way as pricing a secondhand vehicle, for example. In a car, you’ll consider its mileage, model, and years of use as you determine its resale value. Likewise, a jewelry’s resale value is deduced from its carat, weight, clarity, and cut. To be even more certain that you’re pricing it justly and competitively, check out similar secondhand pieces in ecommerce platforms like eBay. Compare your price to its brand new counterparts, too, then factor in a discount, because chances are your buyers are also seeking a profit from your jewelry.
3. Sell it to Pawnbroker
If you’re particularly desperate to sell your jewelry fast, pawnbrokers are your best shot. You can expect a fair deal with them, since they’d also be interested in a repeat business with you. But even so, be cautious when choosing a pawnbroker, especially if it will be your first time dealing with them. Some may still attempt to sell you short. For your security, get advice and recommendations from friends, or check out online reviews if they’re available.
4. Sell it to the Public
Not in a rush? Exert marketing efforts to sell your used jewelry to the public. They generally pay higher for secondhand jewelry, because they’re aiming for a cheaper retail price, but can’t access wholesale prices. You can rely on ecommerce platforms to advertise your item, or use your personal social media page. Take detailed, high-quality photos of your jewelry, and hire professional jewelry photo retouching services to further highlight their good conditions.
Considering the tasks and ups and downs involved in selling used jewelry, it’s advised to be absolutely certain that you’d be ok parting ways with your items. Aside from the possibility of hardly earning a profit, you’ll lose what could be a highly significant item in your family. Sort your emotions before rushing to a decision.
I’m a Gramma to a beautiful, funny, smart little girl who was born in July of 2014. She’s the joy of my family and I’m so very proud to be a gramma (an alternate spelling for grandma)! I am a coffee, music, movie and outdoor lover! My family and I love picnics, festivals and concerts. Spending time with my family is the best part of my life. I love my job as well! Blogging and product reviewing has given my family and I a lot and I have also learned a lot and made a lot of friends.