Today we want to share some great tips and certain things to consider when selling your jewelry. There are many possible reasons why people decide to part with some of their jewelry pieces. Whatever your reasons, you should ensure you get top dollar for all of those beautiful items you choose to sell. Selling your jewelry is easy, but how can you be sure you get what it’s worth? Here are a few things to keep in mind when selling your jewelry to avoid late regrets.
While deciding what to sell and what to keep, you should ask yourself a few questions. Do you ever wear that piece of jewelry you want to get rid of? Is it a family heirloom piece? Is there anyone to whom you might want to pass it down? Is it valuable enough to be worth selling it?
The list of questions could go on for a while. The main point is that you should weigh your decision with the greatest possible care to avoid regretting your decision. When you’re bootstrapped for cash, you may think that parting with your beloved jewelry is a good thing to do, as it is the only thing that can get you out of trouble. While you’d be right to think so, you might feel sorry later on, when your financial situation will be stable. If you do love your ring or your bracelet, consider borrowing money from a friend instead. In the future you will thank yourself from the bottom of your heart; you can rest assured of that.
If you want to sell jewelry, start with the pieces you like the least. Don’t rush; take your time to set your priorities right. Then, try to get a fair appraisal of the pieces you want to sell. Find one of the most reputable qualified jewelry appraisal specialists in your area and take your jewelry to get a current value on it. Pay special attention when you choose the expert to take your jewelry to. Look for someone with extensive experience and with an excellent reputation in this industry. If you want to sell gems, make sure that the appraiser you choose is a certified gemologist. Also, search the web for customer ratings and reviews to determine what other people think about those appraisers. The more information you can find the better. If you aren’t satisfied with your appraisal, be prepared to ask for a second opinion.
The current jewelry value depends on multiple factors such as the type and the quality of the metal, the type and the quality of the gemstones (if any), the weight of the jewelry, and the condition of the jewelry piece. A piece that needs repairs will have a lower value than a similar one, which is in pristine condition. This doesn’t mean you have to repair everything you want to sell, but only to keep in mind that you may not get its full worth.
After you get your appraisal, it is time to set a price. Most sellers tend to set their prices too high, as they are emotionally attached to their jewelry. You should always remember that the appraisal value is the price of buying a comparable piece from a retail store. People who seek to purchase jewelry from private sellers want to get a deal. Otherwise, they would choose to shop in a store where they could benefit from professional guidance and advice. Other potential buyers seek lower prices, as they intend to resell the pieces for a profit. If there’s no profit, they will not make the purchase. If you want to find buyers sooner rather than later, you need to set a realistic price for your jewelry.
For the best outcome possible, you may want to set an opening price slightly higher than the one you have in mind. This would allow you some room for negotiations, provided that you find an interested buyer who doesn’t agree with your initial price.
The preparation of the jewelry is another important step that can make a huge difference to the price you’ll be able to get. Even though you can clean it at home, it’s best to take your jewelry to have it prepared by a professional cleaner. The last thing you need is to damage the gold or the gemstones by using inappropriate chemicals or cleaning methods.
The payment method is another thing to consider when selling your jewelry. Even though most people are honest, some try to scam others whenever they have an opportunity. You don’t want to be the victim of these people, so you should be keen on getting the payment in cash rather than in a cashier check or money order. Keep in mind that scam artists can forge just about any type of check. This is why cash is the safest payment method.
Last but not least, consider all possible selling options. Private sales are the fastest, but posting on Craigslist may attract a lot of scammers. Pawnshops are also fast channels, but their drawback is that they don’t pay as much as other types of buyers. They are safe, though, so keep them in mind as one of the best options. Consignment jewelers are also great. However, most of them won’t pay you until your piece sells. This means that you won’t be able to get the quick cash you need to sort out your problems.