Jewellery is an important part of the trade, and has a wide range of functions: it can be functional (like clasps on watches or rings), artistic/decorative, a symbol of group membership or status or a personal item. It can also be a form of art (as in a painting or sculpture) or a collectable. The jewelry industry is a global business, and includes a broad spectrum of retail, wholesale, manufacturing and design activities.
The traditional jewelry trade involves selling jewelry directly to customers. This can be done in a retail setting, like a local shop, or on an online marketplace platform. Some popular platforms include Etsy, eBay, Craigslist and Amazon Marketplace. These sites are easy to use and allow you to connect directly with buyers. However, you should be aware of seller commission fees and listing fees when using these platforms.
If you make your own jewelry, consider setting up an online store to sell it. You can use a website builder or e-commerce software to create a professional, user-friendly online store that can feature product descriptions, pricing and images. You can also feature customer testimonials or behind-the-scenes footage of your business to add a human element to your site.
Another option is to hire a wholesale manufacturer to produce and sell your designs. This isn’t ideal for fine or bespoke jewellery, but can be cost-effective for fashion pieces or larger collections. You can find manufacturers in your area, or look internationally for greater variety and lower production costs.
If you have a piece of jewelry that’s passed down from generation to generation, or has a great deal of sentimental value, you may want to consider selling it at an auction house. This can be a very rewarding experience, especially if your piece has high resale value.
Many people have inherited jewelry from family members, but don’t wear it or need it any more. They might also have broken or damaged pieces, such as that gold herringbone chain from Auntie Barbara or a single earring that’s lost its partner. These items can be sold or pawned at a local pawn shop.
A pawn shop can buy any type of jewelry, but they will often pay less than a retail jeweler would. They also tend to have a shorter buying window and lower quality of merchandise. For this reason, you should only consider a pawn shop as a last resort or for very special pieces. Alternatively, you could take your unwanted or damaged jewelry to a gold exchange. These places will typically pay you the scrap value for your pieces, and usually accept anything with a precious metal. They will also pay for coins and bullion, so it’s worth looking around for the best price.
