Do you want to sell your old jewelry in exchange for cool cash? Are you urgently in need of money?
Reselling your jewelry at the best price is one of the simplest things to do if you have the right knowledge. Since we have a great experience with professional jewelry dealers; we are going to provide you the best tips on how to sell your ornaments for a reasonable price. By reading this article, you are going to be exposed to the secrets of successful jewelry selling, especially old ones.
There are a few restrictions that bewilder old jewelry trade, and it would be necessary to be enlightened about those restrictions before tagging your jewelry “for sale.”
Factors Limiting The Trade Of Old Jewelry
- BEAUTY: A rough necklace would not make a good sale, and anyone who wants to bargain the price of the old commodity would be motivated to increase or reduce its price according to its appearance. If your jewelry looks nice, good for you. However, on the other hand; if it doesn’t look nice, you would have to try your luck because the jewelry business is basically ruled by beauty. Nothing more; nothing less.
- RARITY: Oftentimes, rare jewelry tends to sell at higher prices than common ones. Everyone wants to appear unique, and many would pay any price for a rare substance, in order to appear unique. Rarity also depends on the location because what is rare in one area might be common in another area. If your necklace is rare, you can always auction it for an expensive price.
- IT’S SECOND HAND: it’s difficult to resell an old jewelry for a price close to its purchasing price. The fact that jewelry has already been used automatically lowers its price. The only exception for this is if the jewelry was used by a very important person. For instance, you can sell a $2000 worth of ring for $2000000 if Michael Jackson used it. People would pay any amount for anything that is attached to someone they adore.
Since you are now aware of the possible factors affecting the sale of jewelry, we can now move forward to the main topic, which is how to resell old jewelry.
How To Sell Old Jewelry
- EVALUATE YOUR PRICE: To decide the approximate value of your piece, you ought to look at it impartially. Using the price of the new one, beauty, carat weight, color, clarity, and rarity; you can say for yourself the range at which your jewelry should be bought. You have to put yourself in the position of a buyer, to think like one.
Also, you can get an idea of what your item should worth by browsing for similar substances on eBay auctions.
If you do not feel comfortable dealing with that yourself and your jewelry was originally bought for over $2,000, you can use the service of a qualified appraiser but if it is wasn’t bought for an expensive price then you should just evaluate it yourself so you won’t spend much amount.
- MAKE READY FOR SALE: Refurbishing your jewelry can make all the difference in attracting an excellent price, depending on the location you want to sell it. In order to get that luster back, use a little warm water and some soap to cleanse it. Then, use a soft toothbrush to carefully cleanse the piece of jewelry and let it dry. Peradventure, it needs more cleansing; you can also prepare some homespun jewelry cleaner which should consist of salt, soap, and baking soda.
If the jewelry is quite expensive, you should seek the service of a professional jewelry cleaner; however, if it is not expensive, you should do it yourself to reduce expenses.
When cleaning your piece of jewelry, note these few points;
- Try to avoid Ammonia based cleaning products when cleaning your gems;
- Do not clean gems and gold with chlorine;
- Use the right soap and clean with care;
- Whenever you give jewelry cleaner to do it, make sure the person is a professional.
For spoilt jewelry items, you would need to repair. You can also sell a damaged golden wristwatch, but its price would be significantly reduced. It is advisable to repair the jewelry before selling it and if there’s any part that needs replacement, replace it.
- SELL IT: After evaluation and preparation of jewelry, the next thing to do is to move on to a transaction. There are three different ways in which you can sell your piece of jewelry namely:
- online selling platforms
- scrap buyers
PAWNBROKERS: Trying to get your piece assessed pawnbrokers is a straightforward task, but sometimes, one might be surprised by their evaluation. Most pawnbrokers, because of their gains might reduce the actual worth of the jewelry, upon evaluation.
Pawnbrokers can be repulsive when it comes to making a decent deal. They would not give you anything near what you’ll get from online selling platforms and jewelers, although pawnbrokers are one of the fastest means of selling you gem or gold. If you require cash desperately quick, it’s your best try.
SCRAP BUYERS: Selling your jewelry for scrap value means you’re only selling it for the value of the materials that make up the piece, which would be disassembled and melted down into gold ingots later.
When you trade gold bars, you should expect nothing less than least 90% to 95% of the present market value.
ONLINE SELLING PLATFORM: selling jewelry on online platforms like eBay, could be effective and sometimes might have its own complications. However, you’re advised to patronize the most reputable online platforms.
In conclusion, selling your jewelry is quite tasking, as explained in this post. If you follow the guidelines provided in “How To Resell Old Jewelry,” you would have a fair and safe trade.