How to get the most for your used jewelry, gold and diamonds?

Don’t be impulsive if you receive an offer for the used jewelry, gold or diamonds that you’re selling because you may get more money than what you think.

First and foremost, you need to know the value of your estate jewelry. The term “estate” is used to refer to a previously owned jewelry. And since it’s a preowned piece you should know if the style of that jewelry in still in, not old or out of trend. Otherwise, you wouldn’t have enough edge to control the premium price of your jewelry. The style and condition and its demand in the market also play a crucial role. Hence, it is very helpful to have a trustworthy dealer by your side who can guide you through the selling process.

Your dealer can educate you more about the market condition such as selling price of used jewelry, gold or diamonds and may even endorse it to the bigger market. You can do a consignment with your jeweler but be sure to have a clear arrangement on the period for them to hold your jewelry and the type of payment once it gets sold.

You can also to consider an auction as an option especially when you have high end estate jewelries. Auction may be risky since the price is unknown but this kind of gamble can draw a favorable selling price. Ebay is one of the known marketplaces reaching bigger buying population. Sales are not guaranteed but posting an appealing images of your jewelry and pricing it competitively will gain more attention in the auction. You should also be particular to your buyers on the return or refund policy of the jewelry items you are selling. You must provide a certain period of time for the buyer to return the item for a full refund. Online transaction can be smooth or problematic so your transparency and strict rules need to be established as a safety net.

Secondhand dealer or pawn shops is another avenue in selling. But you need to understand the buying arena where most dealers work on cash evaluation of the jewelry. For estate jewelry, the cash value is determined by percentage of the intrinsic value. Some dealers can pay as low as 33% and even up to 90% of the intrinsic value.

Knowledge is power. Sell your jewelry, gold or diamonds wisely. Don’t rush in disposing your old jewelry pieces but do your study well. There are more other ways to sell aside from the options we have shared. Finding the right dealer is a bonus. Getting the right amount is a real investment!