Whether you’re upgrading to a new piece of jewelry or clearing out old pieces, it’s important to understand the value of your jewelry. Getting the most out of your jewelry means avoiding the temptation to sell it for scrap or pawn shops and finding the right market for your pieces.
There are a few different ways to trade in jewelry: selling for cash, exchanging for store credit, or trading in for a larger item. Cash and store credit are the easiest to convert, but each option has its pros and cons. When it comes to a trade-in, you may be able to get more value by remounting your diamond or gemstone in a new setting rather than putting it back into its original ring or necklace. In this case, you should shop around and compare prices with and without the trade-in to see if you’re getting the best deal.
If you decide to sell your jewelry for cash, make sure you’re dealing with a local jeweler. Ask friends and neighbors for recommendations, and check online reviews. A reputable jeweler will give you a fair price for your items, and they may be able to help you find a buyer. They also have more options for reselling your jewelry: they can consign it with you, send large or rare items to industry auctions, and even broker diamonds. Plus, their livelihood is based on trust and they have your best interest in mind.
Another option for selling your jewelry is to use an online marketplace. These sites can be a great way to get your jewelry in front of more potential buyers, but they come with some drawbacks as well. Many of these sites charge a commission for each sale, which can cut into your profit margin. In addition, many of these websites have a high percentage of fake or low-quality reviews, so be careful when choosing one.
Some of the most popular jewelry sites to sell on include Amazon, Etsy, and WP Diamonds. You can upload photos of your jewelry to these sites and get an estimate of its value. Once you’ve accepted an offer, you can choose to receive store credit or direct cash from the site.
The main drawback of using a marketplace to sell your jewelry is that it takes longer for you to get paid, and you may not be able to find the highest offers on your items. However, if you’re willing to wait and have an excellent product, this method of selling may be worth it for you.
If you’re looking for a quick and easy solution, consider selling your jewelry for store credit. This can be a good option for older pieces that are no longer in style or inherited pieces. Just remember that this option will only pay you about 50% of what your jewelry was originally worth, so you’ll have to be patient and carefully evaluate your options before making a decision.
