Where to Sell Jewelry for Best Value

Even though you love your beautiful jewelry, someday you may be interested in selling your fine jewelry or treasured pieces to buy others that are the latest trend.

There is a myriad of reasons folks sell their jewelry. Divorces and broken relationships are the biggest reason. In other cases, people inherit jewelry from grandma, mom, or aunties, and maybe that amazing free form gold nugget ring she designed set with all her old diamonds set into it isn’t really your style. Also, many ladies end up with an accumulation of damaged gold jewelry which can’t be fixed anymore, or they have one earring that lost its match. Another reason folks sell their jewelry is that their circumstances in life have changed. Perhaps an unexpected financial emergency came up and a person needs cash. Whatever the reason is, people sell their jewelry from time to time. The question is where to sell them for best value.

Here are a few options to get the best price for your fine jewelry.

Friend

Do you have a friend that has always said she wants your ring if you ever decided to get rid of it? Now’s their chance! You’ll need to arrive at a price that is fair for both of you. It should be below what it sells for brand new, but more than what a jeweler would pay for it. You have the best opportunity to get the highest price for your jewelry by selling directly to a person who wants to wear it. Sometimes doing business with friends isn’t a good idea. One person may feel like they got taken advantage of, so be careful. Your friendship is worth more than a business deal.

Local jewelry store

Almost all local jewelry stores will buy used jewelry. This should be one of the first places to consider (locally) because they may be able to give you the best price. You’ll also want to stick with locally owned jewelry stores as they are more likely to give you cash, rather than store credit. However, they don’t always have the best price, much like how you can typically get more for items on eBay than at a garage sale, simply because local supply and demand can affect how much you get for your jewelry. It’s convenient but you may not necessarily get the best price. Most local places are looking to sell the jewelry, so they take that into account.

Pawn shop

It’s quick cash. Pawn shops are in almost every city in most of the world, though they go by different names. Typically, but not always, pawn shops would rather “loan” you the money on the jewelry as opposed to buying it outright. The loan price is much less and the pawn customer doesn’t always come back to redeem the jewelry. The shop then gets the piece for a very, very low price, though this is not always the case. There are some very reputable pawn shops out there. Do your research!

Sell it Online

Selling it online can mean many things. You can try your luck on an auction site like eBay. Take note that eBay usually sides with the buyer, so if anything goes wrong, you could be out of luck. Big online retailers are another option; you’ve probably seen big online retailer buyers on TV commercials stating that you can send in your jewelry and get paid cash. There are both good and bad experiences with these big online retailers. Big online retailers aren’t intimate with their customer service like smaller, local retailers are, which can mean a bit of a headache in terms of communication. Oftentimes, these big retailers take advantage of uneducated sellers. They might not scam you completely, but they could rip you off and leave you with less than you should receive. If selling online, it’s recommended to go with a boutique-style, reputable jeweler who handles buying of unwanted jewelry online. A lot of local boutique-style jewelers have opened up their online doors and accept buying of jewelry from all over the world. It is 2021 after all, and almost everything can be done online, especially after the pandemic forced it. Assuming that everything goes well, it is quite convenient to sell your old jewelry online, as you can do this from the comfort of your home. To avoid any complications regarding communication when selling your gold and silver jewelry online, be sure to ask them these three crucial questions:

  1. How long will it take to make a decision on the offer?
  2. How will you give me back my jewelry if you don’t want to buy it?
  3. What percentage of “melt value” do you pay?

It’s possible the company will give an answer with a range for the last question. This is because costs for recovering precious metals in some items can be more difficult than others. However, if the company hesitates to give an answer, forget about that company and choose another.

In order to get a good price when selling jewelry, you’ll need to start with high quality jewelry. At Lao Pride Inc, our craftsmanship and beautiful designs matched with high quality will give buyers something they will want to cherish forever. Contact us today to learn how we can make custom designs for you that maintain the precept “diamonds are forever.”

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