Selling your unwanted jewelry can be a great way to earn some quick cash. But unless you’re strapped for money, it pays to be patient and do some prep work before heading out to the nearest pawn shop. There are a lot of places to sell jewelry, and with some research you can find the one that is best for your needs. The following tips will make the jewelry selling process easier and help you get the most for your goods.
1. Get your jewelry professionally appraised
This is especially important because the karat engravings on your jewelry might not always be correct. This is because many countries do not have strict laws regulating the accuracy of these engravings, so if your jewelry came from outside the U.S., there’s a chance the karat engravings won’t reflect the jewelry’s actual value. Aside from that however, it’s good to have your jewelry professionally appraised because knowing its value will give you some bargaining power when you go to sell it, or at the very least keep you from getting the short end of the stick on the deal.
2. Be careful when selling scrap gold
If you’re trying to sell gold, you’ll find plenty of local gold buyers who’ll be happy to pay you for the scrap gold value of your jewelry. Remember, however, that scrap gold prices are NOT the same as the retail price you paid for your jewelry. Scrap gold buyers take into account only the weight in gold of your pieces and not such things as craftsmanship and design. If you’d like to get more value for your goods, it might be worth taking the time to show your jewelry to an actual jewelry dealer.
3. The difference between old and antique Jewelry
The price of a piece of a particular piece of jewelry is often determined by the current jewelry style trends. Some of the pieces in your jewelry collection might be considered antique, while others might simply be dated and out of style, or in other words, old. Take some time to do some research into antique jewelry to determine whether your pieces qualify as antiques. It might even be worth it to consult with a professional antique jewelry dealer to make sure you don’t end up getting less for a piece that would fetch a higher price in the antique market.
4. Avoid consignment
The best policy to keep when negotiating with jewelers is to avoid even the mention of consignment. Consignment is a popular option among jewelry buyers, because it means they don’t have to spend any money outright to acquire and sell your jewelry. But for you, the seller, it’s not such a great deal. Inform the buyer at the beginning of the deal that you are simply not interested in the option.
5. Come prepared and look the part
This last tip is more important than you might think. Walking into the jewelry shop well dressed is almost as crucial as walking in well informed. If you’re dealing with diamond buyers, come in knowing the value of your diamonds and with some knowledge of the basic 4C’s of diamonds. Come well dressed, practice your speech, don’t fidget too much, and carry yourself in a professional manner.
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