Selling jewelry can be a great way to obtain some cash or to downsize your collection, but it can also be more complicated than it seems. Maybe you are selling pieces that you inherited, or maybe you want to upgrade your jewelry collection to include new pieces, or you simply want to declutter your life. 

This article offers selling jewelry tips to help you sell the jewelry you have and to obtain the best price for your jewelry.

Not Completing Proper Research

When selling jewelry one of the most common mistakes is not completing proper research when selling your jewelry. Jewelry has value based on precious metal or stones, but that value will change based on the market. The value could be increased or decreased, and unless you know what your jewelry is worth, you may sell it for a fraction of its true value or accept a low offer altogether. 

Selling Jewelry Tip:

Complete your research before selling. Analyze the current market pricing for precious metals like gold, silver, or platinum. Investigate the current resale value for diamonds or gemstones, and have a general idea of the valuability of your jewelry based upon its age, brand, and condition.

Failing to Get Multiple Appraisals

Another big blunder is accepting the first offer received without shopping around. Jewelry buyers (whether they be stores, pawn shops, or online sites) typically offer different prices for the same piece. You could be missing out on more remuneration simply by failing to get multiple appraisals.

Selling Jewelry Tip:

Obtain multiple appraisals to compare offers. If you live in an area with multiple jewelry shops and buyers, visit them and obtain quotes from each. Also, consider obtaining quotes from online buyers to get a better feel for the market value surrounding the piece.

Not Understanding Jewelry Grading

Jewelry has several aspects you want to consider, but in particular diamonds and gemstones are graded depending on various criteria that can have a considerable impact on the price. When it comes to diamonds, you have the Four Cs – cut, colour, clarity, carat weight, which grade the stone. If your jewelry contains gemstones and you failed to understand grading, it could mean getting considerably less for the piece you are attempting to sell.

Selling Jewelry Tip:

Know the grading system of your jewelry. A certified gemologist can grade your diamonds before you even attempt to sell the jewelry, hence ensuring you receive the best price based on the legitimate quality of the piece.

Ignoring the Condition of Your Jewelry

If you’re planning to sell your jewelry, its condition will be the most important factor in its resale value. Scratches, dents and tarnishing all negatively impact the item’s desirability and value. Not accounting for the condition of your jewelry before selling it, can cost you more than you might expect.

Selling Jewelry Tip:

Clean your jewelry, but be sure to take care and use only gentle cleaners. Don’t mistake this for overpriced harsh chemicals that could feasibly harm your item. If your piece has survived damage, you might want to consider fully repairing it before selling in hopes of earning value that would originally be lost.

Not Understanding the Differences Between Buyers

Different types of buyers for jewelry are going to put different values on your jewelry. More specifically, jewelership and specialized dealers will tend to put a higher value on valuable pieces, ones they believe they can sell at a profit. Pawn shops and general buyers are generally going to provide a lesser offer because they too need to earn a profit. If you have not taken a moment to consider the type of buyer you are selling to, you might be undercutting your offer.

Selling Jewelry Tip: 

Understand your buyer and where to sell. If your piece has value, you should go to a jewelry store or a well-known online buyer. If the piece is common or of less value, you may want to choose a pawn shop or consignment shop. 

Conclusion 

Selling jewelry can be fun, but it is important to take your time to avoid common mistakes. Jewels are lots of money and it is well worth your time and energy to do your research, get multiple appraisals, understand the value and condition of your pieces, and pick the right buyer to sell to so you can maximize what you will get for your jewelry. Be sure to consider the selling jewelry tips we shared and you will be on your way to making the best deal for your precious jewelry.

FAQs About Selling Jewelry

1. How do I know how much my jewelry is worth?

Get your jewelry professionally appraised, considering factors like metal value, gemstone quality, and brand recognition.

2. Is it better to sell jewelry to a jeweler or pawn shop?

Jewelers often offer higher prices, especially for valuable pieces, while pawn shops offer convenience but lower payouts.

3. What should I do before selling my jewelry?

Clean your jewelry, gather any certificates or appraisals, and get multiple offers to ensure you’re receiving a fair price.

4. Can I sell jewelry without an appraisal?

While an appraisal is not required, it can help you understand the true value of your piece and avoid undervaluation.

5. What payment methods should I accept when selling jewelry?

Always ask for secure payment methods, like cash or bank transfers, and avoid accepting checks or money orders from unknown buyers.