A jewelry trade refers to the buying and selling of precious stones and metals, which can take place at a variety of venues. These include pawn shops, jewelers and gold-buying companies that offer cash for scrap. These businesses typically sell what they don’t need or want to return capital and save the best gem materials for resale or use in new pieces. A trader may also sell to other jewelry dealers, such as collectors or other manufacturers for resale and exhibitions.
The jewelry industry is a booming business and continues to grow with new innovations in metals, gemstones and production processes. This growth has also increased competition and made it difficult for jewelry designers and makers to make their brands discoverable.
Whether you’re an independent jewelry designer on Etsy or part of a reputable retail brand, establishing a presence at local and regional trade shows is a great way to connect with buyers and make your name known. Several online tools can help you find the right trade show for your brand.
The most important thing to remember when starting a jewelry design business is to get your name out there. There are a number of ways to do this, including attending trade shows, creating social media profiles and hosting private events. You can also use a point of sale (POS) system to manage inventory and sales, and you can set up shop anywhere that is accessible to customers.
When you’re ready to start selling your jewelry, it is important to have a good working knowledge of how to identify and care for the materials you use. A gemology course can give you the tools to understand your materials and use them properly in your designs. You can also sign up for an online class to learn how to make jewelry with different materials and techniques.
Many jewelers buy watches and jewelry for resale, and some have dedicated departments for this. They will typically pay you for your jewelry based on its intrinsic value, which includes the quality of the metal and gems. They also have to factor in the cost of salaries and rent, as well as their profit margin.
Some of these jewelers will resell your items as a store brand. This is a better option than selling your jewelry to a pawn shop, which will sell it for the price of its raw material only, not its resale value as a finished piece.
Another option for selling jewelry is to use an online marketplace, such as Facebook or Craigslist. These platforms allow you to upload a photo of your item and describe it to a buyer in your area. You can arrange a face-to-face meeting to complete the transaction, but it is essential to keep safety in mind when selling this way. Never send your jewelry through the mail, and meet in a public place to avoid any scams or theft. In addition, you can also participate in local community markets or craft fairs to expose your jewelry to a wide audience.
