Jewelry trade can be a lucrative business for those with an artistic eye and the talent to create beautiful pieces. The challenge is finding the right market to sell your work to and how to get your name out there.
1. Start by creating a website for your business.
Whether you want to sell on Etsy, Amazon, or another online marketplace, having a place for people to buy your products will help you generate sales and validate your jewelry niche. It’s also important to have a professional website that showcases your work and offers payment options.
2. Use social media to advertise your jewelry brand and share photos of your products.
Using social media platforms like Facebook Marketplace, Instagram, and Pinterest can be a great way to promote your jewelry and introduce yourself to potential customers. These sites also allow you to track your sales and see which pieces sell best.
3. Consider selling to a jeweler who will evaluate your pieces and pay you for them directly.
The jeweler will be able to provide you with more options than a pawn shop or an online gold and diamond buyer. They can offer you a trade-in option or a cash sale, and they can even send your piece to an industry auction if it is rare or expensive.
4. Bring all documentation with you when you sell your jewelry to a jeweler for an appraisal.
Having documentation like purchase receipts, certificates, and origin information helps to establish the value of your jewelry when you try to sell it. This is especially helpful if you’re trying to get a better price for a diamond.
5. Do not accept a wire transfer or check in exchange for your jewelry.
A wire transfer may never go through or your check could bounce, which will result in you losing money. Often these scams involve sending jewelry to someone you don’t know.
6. Beware of “trade-ins” and “sale prices.”
There are many scammers out there who will offer you trade-ins or a sale price for your jewelry, only to rob you of the money you’re supposed to be getting. This is often the result of a jeweler who has marked up their merchandise too high, or just wants to make a quick buck, and needs your money as quickly as possible.
If you do decide to sell your jewelry to a reputable jewelry shop, make sure that they are a local business. This will help to ensure that the money stays in your community.
Beware of jewelry stores that offer both a trade-in and sale price at the same time.
This can be a huge scam, as they will take advantage of your loyalty to their store and give you a low offer for your jewelry, then hold it hostage until you call them back or bribe them to raise the price.
If you do choose to sell your jewelry to a pawn shop or online gold and diamond buyer, be prepared for a much lower price than what you’d receive at a reputable jeweler. Pawnbrokers typically pay less for all kinds of gold and diamonds, and they will have to make up the difference by selling your items to another pawnbroker or an online buyer.