Many women have precious jewelry they no longer wear or need and may wonder how to monetize it. However, selling jewelry can be a risky business if you aren’t careful.
Luckily, there are some safer options than Craigslist or eBay. Pawn shops, jewelers, and local cash-for-gold buyers will typically buy gemstones.
Look for a Reputable Buyer
When finding the best place to sell jewelry in NYC, it’s crucial to find a buyer you can trust. It’s also good to get multiple offers to compare rates. If you cannot sell your jewelry to a local jeweler, consider selling it online. You’ll get a much better price from an online buyer than a pawn shop or jewelry store, and they will likely give you a more upfront payment.
Most walk-in jewelry buyers (like pawn shops and secondhand dealers) buy on a percentage of the intrinsic value of the metal and stones in the piece. So it’s helpful to know your piece’s grading report values before shopping around.
Many pawn shops and secondhand stores pay less than the actual intrinsic value of your jewelry because they have to factor in refining costs and profit. It is why it’s crucial to shop around and find a reputable jewelry buyer that pays close to the intrinsic value of your pieces.
Another good place to sell jewelry is to a national buyer. Since their reputations across the country are on the line, these businesses spend heavily on customer service and the capacity to pay top dollar for your valuables.
They’re a terrific choice since they can analyze your jewelry fast and effectively, ship it securely, and give you the most money for your diamonds.
Get a Free Appraisal
Ideally, you want to choose a jewelry buyer who will give you an honest appraisal. They should have the expertise and credentials to evaluate your jewelry and provide you with a fair price. They should also offer fast and convenient transactions. They should be able to pay you in cash on the spot and be transparent about their business practices and policies.
An expert jewelry appraiser can distinguish between an authentic precious metal piece and a gold or silver-plated one. They can also look for hallmarks, identifiers of authentic precious metals, and not merely plated metals.
The mark may be on the inside of a ring or necklace clasp, on the back of a pin or brooch, or in the case of costume jewelry, near the maker’s name.
Jewelry stores are another source of jewelry valuation, but they typically do not buy pieces from the public since they can get them for wholesale prices from their suppliers.
Moreover, they work on huge margins and might need help to offer a good value for a unique item. The only exception might be if you are selling vintage or estate jewelry.
In such a scenario, you can opt for an online jewelry appraisal from startups that offers free estimates based on the details and photos of your jewelry pieces.
Make the Sale Online
Many people have jewelry in storage that they no longer wear, which is a shame because it could be turned into cash. This jewelry may be from a deceased loved one or a gift or be old and no longer fashionable. Choosing a trusted buyer who will give you the best value for your precious jewelry is vital.
It is also a good idea to have quality photographs of your jewelry. It will help you sell it more quickly and for a higher price. Ensure the pictures are professionally taken, showing your jewelry in its best light. It is also helpful to have a description of the piece, including its size and metal type.
Some types of jewelry are more accessible to sell than others. Jewelry in poor condition, an outdated style, or with worn prongs or scratched gemstones will probably only get scrap value – a meager offer. However, expect a higher offer if you have a vintage piece or something from a reputable maker.
A great option is to work with a company that offers a complete online buying service. It will allow you to compare quotes from multiple buyers much faster than selling your jewelry in person. Windsor is an excellent example, offering top cash bids from interested jewelry buyers nationwide. The process is quick and easy, and you will receive your payment within 24 hours of the auction ending.
Avoid Scams
If you want to sell jewelry online, shop around. Check out several local jewelers and pawn shops before selling to determine how much they will pay for your item. Looking for a buyer with a fair return policy would be best.
A reputable company will be likelier to have a working customer service number and list an actual street address for their business. It’s also essential to avoid companies that claim to offer “wholesale” prices. It is a standard marketing trick scam artists use to lure unsuspecting consumers.
Be aware of the $0.20 listing fee and 5% transaction fee. Also, taking the time to photograph your jewelry before you post it online correctly is essential. It will help potential buyers make a confident buying decision.
It’s common for people to have old jewelry lying around their homes that they no longer wear. In addition, some items may have sentimental value and are part of an estate that needs to be liquidated. However, many must know their jewelry could have more value than they realize. To protect yourself, visit a reliable jewelry or gold buyer who can accurately and honestly appraise your item.
