We follow trends, fashion, receive gifts, buy pieces to spoil ourselves, etc. At some point, we are left with a bunch of jewelry which only takes up space in our drawers. Now is the right time to consider selling them and turning them into a monthly payment, a shopping fund or even an addition to our saved money for a vacation we always wanted.
Turning jewelry into money, i.e., selling the pieces you do not want anymore, requires careful planning and examination. It starts with knowing the worth of your possession and acting accordingly. If you are wise enough to keep all the papers that came with your piece, estimating the value of your piece is very easy. However, in some cases, you may need the eye of an expert. For further stages, you need to invest in time to find a suitable buyer.
Selling jewelry has a careful planning stage, which determines the money you will get. After you set your mind to it and dedicate the amount of time necessary, you can start the process. Let’s look at the planning stages and how to be careful and wise during these stages.
Stages of Selling Your Jewelry
Know the Worth of Your Piece
As we mentioned before, if you kept the original papers that came with the piece – which you definitely should have done, it is easier to have a price in mind. However, in some cases, such as you received a gift or it is a piece of family jewelry, you may not able to. Whether you have them or not, you should consult with the American Society of Appraisers, The International Society of Appraisers or the National Association of Jewelry Appraisers first. They will give you the look of an expert and an idea of how much money you can get from that piece.
Appraisals are very important in determining the price of your piece. They are mostly done for insurance purposes. However, before you put your piece up to the market, you need the eye of an expert.
Appraisers are professional people who will objectively examine your piece according to the international standards and give you a price. They charge their costumers with hourly rates. While a simple diamond ring takes nearly an hour to be appraised, a more detailed design will need more. Therefore, be prepared for the appraisal fees. You may want to reach them out first and ask their hourly rates.
After you get your appraisal tag, you have a number in mind. However, before you set your price consider a few more aspects. For example, you should never forget that you will never get the price you paid for the piece. Never try to sell the piece from its retail price.
Secondly, appraisals can guide you, but cannot give you a set price. Since they are mostly conducted for insurance purposes, the price they give will be the amount you would need if you would buy the piece again. Therefore, your price will be lower than the appraisal, too.
The piece you want to sell may have a sentimental value to you. However, do not forget that it is just a piece for anyone else. They may not consider the piece as valuable as you think. Do not set your expectations too high; do not sell a valuable piece at a much lower price, either. You need to carefully asses the price of the piece with the guidance of these aspects.
The worth of a piece can be determined from two perspectives. First, the materials used. Secondly, the design. Your piece can worth more together if it is from a famous designer. As you pay more than the materials when you buy a piece from a famous designer, the same rule applies when selling.
On the other hand, if the design of the piece is not worth it, you may sell the piece to be melted. This option works best for gold. Many buyers buy old pieces, melt the gold and use it for other pieces. If your piece has valuable materials, rather than design, you should consider setting the price according to the price of the precious metals used. Appraisers will inform you on which class your piece belongs to.
After you took your appraisal, you should start showing your piece around. You can go to some pawn shops or show the piece some expert buyers on the market. You can put it up online and see the prices you will be offered. Also, you need to check similar products sold online to have an idea.
When showing the piece, be careful. Buyers generally tend to give the lowest prices at first. When you tell them that you do not accept their offer, they are likely to raise the price. Additionally, be careful about the traps online. Do not send your jewelry to anyone you met online before getting paid for it. The associations listed below have many qualified appraisers. Do not trust any unaccredited so-called experts.
Prepare Your Jewelry
Probably the jewelry piece you want to sell is a little dusty and maybe even dull. You should work on it a little to make it look as good as new. It may even in need of repairs. First, check what needs to be done to restore it back to its original looks.
There are many tips and tricks online to keep your jewelry clean and shiny. According to the materials and design of your piece, look them up and apply the correct procedure. Be careful not to damage the piece. You just want to clean it.
Some dust problems can easily be solved with some warm water and dish soap. However, you may want to leave the work to the professionals. In this case, look up for local jewelry stores. Some of them will offer cleaning and maintenance services at an affordable price. Go to these stores and show your jewelry. they will be more than happy to help.
If your jewelry is coming from a brand that is still actively selling, you can go to them for repairs. Get your piece repaired before you put it on the market. You do not want to lose money over a little crack or scratch which can be easily handled. If you know the brand, contact them and ask for assistance. Ask them their repair policies. Some of them may even offer to repair your piece for free.
Local Stores or Pawn Shops
Once you set the price for yourself and prepared the piece, you are ready to go on the market. At this stage, you should consider the offers made earlier. For example, the appraisers or any shops you consulted before may have offered you a good deal. Consider these offers and decide if you want to sell to one of these buyers or not.
Of course, these offers are not your only options. You can go to your local pawn shops and jewelry buyers, first. Consult the internet to find the best local options. For example, if you are a citizen of the United States, American Gem Society has a list of jewelry shops that buy jewelry. these shops are organized by regions and states on their website.
Moreover, you can check all your local jewelry shops and contact them by phone, e-mail or in-person to ask if they buy jewelry. also, you can find personal buyers. You may want to check Facebook for local groups of people who buy and sell jewelry. You can also try other websites where local people meet for garage sales or such.
At this stage, you should get your offers in writing. You may want to get as many offers as possible to decide what your jewelry costs and who to sell to. Get your offers in writing and keep track to finally assess your options. You should get at least three offers in writing and you can reject the first offers to see if they are willing to raise the price. You can go back to them any time you want.
Another option to sell your jewelry in-person is looking for auctions. You can check the local museums, jewelry shops or governmental associations which organize auctions. If your piece has historical value or a very prestigious one, auction houses may be interested in the piece, too. The experts who organize these auctions will help you with the process.
Lastly, you can ask the appraiser or another expert you showed your piece to help you find a buyer. They know the market and will know the best people or shops that can buy your piece for a good price. They can guide you to the best shops or people and explain to you what you should be careful about.
Online Jewelry Market
Selling jewelry online may look easier considering that you do not have to go to physical stores or meet people in person. This is a time-consuming process and a lot ow work. It is better to sit on your computer and putting up your piece for online buyers.
However, selling jewelry online has its downsides – many of them. First of all, you cannot completely trust the person who will buy your jewelry. you need to be very careful about this. The rule of thumb here is never sending the piece before getting the money.
First, you can reach out to your friends and relatives, or followers. You can post your jewelry piece on any of the social media sites and tell them it is on the market. One of them may be interested and give you an offer. You need to be careful here. If you know the buyer in person, you may contact them online; however, you may want to make a secure transaction anyway. If you do not know the buyer in person, just treat them as you would treat a stranger.
It is another good option to work with reliable web sites, such as eBay or Amazon. These sites offer a reliable service for both sellers and buyers. If you are a reliable seller on any of these platforms, your job is easy. You can securely sell your jewelry. If it is the first time you are selling, carefully read the instructions and follow them. You may need to pay for a commission. Check these fees, too.
Online consignment stores are good options, too. There are some sites especially works with diamond rings from broken engagements. If you own such a ring or another kind of jewelry, you can check them. However, you need to check their policies and commission fees, too.
There are many online jewelry buyer sites that offer fair prices, auctions and handle all the other formalities for you. Most of them are reliable and have secure buying and selling procedures. One downside of this way is that you need you send them your piece for evaluation. For you to do that, you need to trust that website.
Luckily there are many of them you can rely on. The online market means that you let the world see your piece and they will give the best price for it. If you are careful enough, this option is the most convenient and fairest of them all. Before deciding the website, you want to send your piece to, you should read all about their own policies and procedures.
Online Jewelry Buyers
Worthy.com has a very good reputation when it comes to selling jewelry. They have years of expertise and cooperation with acknowledged associations for the jewelry to be assessed. You can check the site and see the offers made for the pieces similar to yours. Then you need to send your piece to them for GIA assessment. Finally, your piece is up for the auction.
You send your piece to Worthy and they get it checked by GIA. Then they take high-quality photos of the piece to show in the auction. this means you do not need to go to any appraisers or go around to find an expert to assess your piece. All these works are done for you by Worthy. They even cover all the shipping and insurance costs from the moment your piece leaves your house.
After your piece is taken and graded by GIA or another reputable association, a reserve price is set. You are the main focus at this point. You should consider the assessment by the experts. However, you need to be comfortable with the reserve price. You can stop the process any time before the auction starts and ask them to send your piece back.
When you have a reserve price you are comfortable with, they put the piece online for auction. buyers will bid for your piece and the best offer wins. If the price buyers offer does not meet the reserve price, you can ask Worthy to take your piece back. However, if you agree a reserve price, you have to sell the item.
Worthy is an experienced and self-confident website. They do a very good job with your jewelry. If you do not agree a price on the auction of Worthy and sell your piece successfully to a local shop for a better price, Worthy guarantees to pay 100$. They really trust themselves in this business.
Cash for Gold USA
Cash for Gol USA is the expert if you want to sell your gold jewelry. They have a reliable system to protect both the seller and the buyer. Transactions are reliable and you can trust them for the fairest price for your gold. They guarantee that they are paying the most cash for your gold in the business.
Your gold is in safe hands with them, and your profit is, too. They have a guarantee called Gold Price Maximizer. When you sell your gold to Cash for Gold USA, if the market price of the gold increases in 30 days after you receive your check, they will send you an additional check to cover the increase in the prices. They are the only company offering this advantage.
Their appraisers are GIA certified. They offer the best experts on the market to assess your precious materials and valuable gems. They cover all the shipping costs and the insurance of your piece. They also do not charge for appraisal fees or any other consultant or guidance fees.
They offer you a price depending on the weight and purity of the precious metal. They are consistent with market prices. You can rely on them and send your piece with a light heart.
Buy My Jewelry
Buy My Jewelry is a website that has expertise in second-hand designer handbags and jewelry. They buy all kinds of jewelry pieces from precious metals to diamonds and engagement rings. They buy gold, silver and platinum metals. Some of the types of jewelry you can sell to Buy My Jewelry: antique jewelry, necklaces, pendants, earrings, diamond rings, engagement rings, and wedding rings.
Firstly, you need to go to https://www.buymyjewellery.com/sell-jewellery and fill out the form to give prior information about your piece. On the form, you need to fill in as much information as possible. Write any detail you know about the piece. Do not forget to include age, carat weight, condition, color, and clarity. This information depends on the piece. If you have a diamond, you should write the shape, cut and other specific information.
The form also has areas that you can upload photos. Take photos of the piece from different angles and upload them. Moreover, if you have and papers related to the piece, upload them, too. Do not worry about writing a professional description. Just write as much as you know for an initial assessment.
After you send the form, a member of the website will contact you and make an offer based on the information you gave. If you are satisfied with this price, you can approve. Later, they will send you an insured package and you can send your piece to them with the prepaid shipment.
However, if you want your piece to be assessed by experts, Buy My Jewelry offers the service free of charge. You can check the related box on the form and request a prepaid pack. This pack will be sent to you free of charge and you can send your jewelry for the appraisal – insured and free of charge.
Once they receive the pack, they will assess your piece and give you the final offer. If you accept that offer, your money will be sent to you via bank transaction within 24 hours. If you are not satisfied with the offer, you can decline it and take your piece back.
Things We Buy
Things We Buy enables you to confidently sell your jewelry, diamonds, and watches from the comfort of your own home. They have years of expertise in buying and selling jewelry. they have a secure and transparent system. With the confidence of their experience, they will offer you fair prices for your used jewelry.
You can go to their website and fill out the form to request an appraisal kit. This kit will come to you free of shipping. You can put your jewelry piece in it and ship the piece back without paying for shipment or insurance. An appraisal kit is a safe form of transfer for your valuable item. You can track your piece easily.
After Things We Buy receive your appraisal kit, they get your jewelry piece assessed by appraisers who are certified by GIA. The appraisers will assess the authenticity of your piece. After your piece is appraised, Things We Buy will contact you via phone and e-mail to give you a quote for free and without obligations within 24 hours. They will generate a personalized offer for your piece.
When you feel comfortable with their quote and approve, they will start the transaction in 24 hours. They make payments in three transaction forms: PayPal, ACH and Company Check. These three forms have different periods for your money to be transferred to you. Check them and decide accordingly.
Truval offers high-quality service for people who want to sell their used jewelry. They have a secure and easy process. They buy diamond, gold and designer jewelry in addition to luxury watches, coins, and buttons. This is another safe way to convert your unused valuables into cash.
First, you need to fill out a form on their website or call to reach one of their consultants to guide you through the process. When you give them the initial information, they will give you an initial quote. Remember, the more detailed information you give, the more accurate the initial quote will be.
At this point, whether you filled out a form or called, you will contact a consultant and they will answer any questions you have regarding the pieces and the process for free. After the initial contact, you have two options. If you are able to physically go to one of Truval stores, you can make an appointment and get your piece appraised in person.
Otherwise, you can request a mail-in service. They will send you a pack to mail your piece. This service covers all the shipment costs and insurance up to $100.000. you can track your package anytime and they provide the surveillance of the package opening process.
After they assess your piece, they give you a final offer. While assessment Truval considers international trends of the market, previous auction prices and many more parameters other than the sole values of the metals and gems. They want you to confidently sell your piece to them, not to be obliged to.
Similar to appraisals, selling fees are also out of question with Truval. All their services are free of charge. When you accept their final offer and decide to sell the piece, they can pay you immediately with cash. You can also receive your money via check or bank wire, which takes from 10 minutes to 24 hours to process.
Diamond Estate is here to help with your diamond rings. Since diamond rings are generally a symbol of engagements, it may be a highly-sentimental process for you. They offer their great services which will bother you as little as possible during a hard time.
Diamond Estate offers two options depending on your availability. If you can, you can visit one of their many offices in San Diego, Los Angeles, Santa Monica, Beverly Hills, Encino, Pasadena, Glendale, Sherman Oaks, La Palma, Downtown Los Angeles, Irvine, Newport Beach, Laguna Hills, Ladera Ranch, Rancho Santa Margarita.
Bring your piece to one of their offices, get your appraisal free of charge and get a quote. It is that simple. If you are comfortable with the offer, sell your piece immediately and receive the money.
If you are not able to go to one of their offices, you can fill out the form on their website and initiate the process. Include as many details as possible in the form. Do not forget to include lab reports, certificates, appraisals, purchase receipts, and/or original packaging if you have any.
After the start of the process with the form, you will be contacted by one of their experts and will receive your appraisal for free. After the appraisal, you will have a telephone conversation with them to ensure the safe travel of your piece to Diamond Estate. The shipment and insurance fees will be covered by Diamond Estate.
After your piece arrives in one of the offices of Diamond Estate, they will assess the piece in a more detailed way. They will assess the piece and give you a quote within a period of 24 hours. If you are comfortable with the offer, you accept it and get paid within 24 hours. If you do not want to sell your jewelry to Diamond Estate, your piece will be sent back free of charge.
Mondiamo helps you through the process of selling your diamonds with their easy and secure system. They offer convenience for both the seller and the buyer. They have a 4-step process -easy and transparent. They have expertise and they are recommended by the high-end jewelry brand Blue Nile.
For starters, they need you to tell some about your diamonds. Fill out the form on their website and include as much as you know about the piece. Include any appraisals, certifications, lab reports or such papers if you have any.
After you send the form, they will contact you via e-mail within 1-2 business days and give you a price range for the offer. If you are comfortable with the price range, tell them to send you a package for your valuable item. Ship the piece to Mondimo free of charge. Your package will be fully insured and trackable. You do not need to pay for any of these services.
After your diamond is assessed by the certified gemologists from their Client Care team, you will get your final offer. If you decide to sell your diamond to Mondiva, you will receive your money via check or bank transfer. If you decide not to do so, you can always ask them to send your diamond back, “no questions asked”. You do not need to pay for any of these services.
Diamond Buyers International
Diamond Buyers International is another reputable website, only interested in diamonds. They will buy your diamonds or any jewelry piece with diamonds for a fair price. They have a secure system for transactions and work with certified experts for appraisals.
For starters, go to their website and check the Online Appraisal Calculator. You will need to choose the shape, carats, color, and clarity of your diamond. Once you filled all the information the Calculator needs, you can get your instant initial appraisal. If you want to discuss the items with one of their expert consultants, you can e-mail them or call them.
If you want to proceed with Diamond Buyers International, complete the form on their website and request an appraisal kit. The kit will be sent to you free of charge and you can send your piece fully insured and without paying for shipment. The insurance covers pieced up to $5.000.
After you send the package, you will get a notification when the package arrives at Diamond Buyers International office. Afterward, you will get your final offer within a period of 24 hours. If you want to accept their offer, you can get paid through check, direct deposit or PayPal. If you deny their offer, they will send you back your item and will not charge you for any of these services.