Tips on How to Sell your Used Jewelry?
If your box is full of jewels that you seldom wear, you must be willing to put them at the sale and get some cash out of it. Jewelry that you don’t wear much does nothing but take space in your wardrobe and a chunk of your money gets blocked. You may be willing to convert those jewels you no more wear to cash so that you can sponsor your expenses or maybe a vacation or a new car or house renovation
But selling jewelry can be a not-so-easy task for many. There can be several issues, including, but not limited to, the price, or the buyer. So, here we are to make this an easy task for you. In this article, we have come up with the solution to these issues. This article includes various best practices, tips, and bits of advice that one can apply to get the most out of selling pieces.
Where to sell your jewelry?
One of the most common and still useful places to sell your jewelry is a jewelry store. There are plenty of stores or let’s say, almost every store out there in the market buys used pieces. You can visit these stores to find and compare the rates which you can get for your jewelry.
The value or ability to sell a piece also depends upon the quality, metal, and condition of the jewelry. A pawn shop can be another choice to sell your used one. But the chance to get a higher price for the pieces will be at a jewelry store than at a pawn shop. Dealers at the pawnshop try to give you the lowest possible price for the pieces but the store somewhat sticks to the market prices.
2. How much money to expect?
As mentioned earlier also the price of money depends totally upon the mental condition and the quality of jewelry. But it also depends on the place where you are selling and your capacity of bargaining.
Above all this, if you are expecting that you will get the same price for which you bought the piece then you are certainly not right. The resale rate of metal is only a few percentages of the original value you paid, except if you possess some old and antique jewelry, in this case, the price of pieces increases with time.
If you are planning to go to a pawn shop, and even if you are selling your jewelry at a store, you must have a good bargaining skill because particularly at the Pawn Shop the dealers are excellent at bargaining and they are known to get the items at a price which is unexpected to everyone.
Long story short, you need to be practical while deciding the price you want to sell your jewelry.
3. Why do we get low money selling old jewelry?
There are plenty of reasons as to why we get this low money for the resale of old jewels. Many times we are offered only about 20% of the original retail price when we go to sell jewelry.
The primary reason you get a low price is very obvious that your jewelry is used, and stores are not much interested in buying goods. The reason for this is wearing out which is caused by usage, this makes the jewelry less durable. The stores know that if they will have to sell your jewelry, they would have to give heavy discounts and a very low price tag to get buyers for that.
Another reason associated with this is- many stores don’t really sell purchases from us, but they remold and make new pieces out of that metal. This adds up to their costs, they have to spend on melting down, remolding, and branding.
4. Be emotionally ready to sell your jewels
This is for everyone but especially for those who are somewhat emotionally attached to the jewels. It is also possible that you must be projecting a good value because of your attached emotional value. But you need to be practical about the price you are expecting.
It can also be some sort of gifts received from friends and family and you can be very important to you. So, once you decide to sell them, you need to stick to it. Many times it happens that people after bargaining and all refuse to sell the jewelry and to avoid this situation you need to be confident about selling.
5. The style also matters here
Jewelry is an industry moving with brand new styles and designs. Like in clothes, some styles are characteristic and remain in trend for quite some time, while some styles just last for only a few months. Estate jewelry which is not of any particular style is somewhat less successful in getting a good price. At times it also happens that the value of style becomes zero because of its out-of-style nature and such jewelry can only get the value equal to its intrinsic value. As discussed above, the other extreme is that you have antique jewelry. Antique jewelry qualifies in many collections and if sold with due care can commend an unexpectedly high price. The difference between your being antique and old or out of style can affect the price exponentially.
6. Not every gold is glitter, but glittering gold can command a higher price
Prospects of getting a higher price are higher when your jewelry is clean than some untidy pieces. The first impression needs to be very good in front of the buyer, so you properly clean the jewelry before you go to sell gold jewelry to prospective buyers. An important thing to know here is that improperly cleaning jewelry can damage and even can destroy the value of jewelry, so you need to take care of it. If you are not sure that you can clean by yourself, it is safe and good to hire an expert for the same. Many stores also clean the jewelry for free.