Selling jewelry: how to get your money’s worth

diamond rings

Have you ever thought about selling your old pieces of jewelry? With the price of gold currently going for more than $1,100 per ounce, lots of people have started taking interest in selling their diamonds and gold jewelry. If you happen to be among those with many pieces of jewelry to sell, there are a few important things you should keep in mind before making any profit-making attempts. Selling you jewelry can be very complex or very simple, and it mostly depends on your knowledge and negotiation skills.

First of all, try to gather any important paperwork that might help you make the sale.  Any receipts, certificates or appraisals will make the task easier for you.  If by any chance, you have any old pieces of jewelry where you no longer have any receipts; your best bet is taking the item to an appraiser. There are specialized websites in jewelry appraisal to provide much information. Try to go with a reputable appraiser that will tell you the “true market value” of the jewelry you’re trying to sell.

The next step should be finding your target audience. Surprisingly enough, your worse bets are probably jewelers and pawn shop owners. Jewelers are known for being accommodating and easy going when you are trying to buy a piece of jewelry, but as soon as you try to sell them something, they will do their utmost to look heavily disinterested.  Even if you purchase an item for them, trying to sell them back something isn’t an easy task. In many other cases, jewelers will offer prices that are incredibly low. If they successfully buy something from you, they will then try to sell the item for their wholesale price.

In most cases, your best bet will be selling to people you know and trust. By selling through this method, you are guaranteed to get the most out of your money. If this is not an option, the next best step should be running an advertisement in any reputable local newspaper of your choice. Always include in your advertisement the words “must sell” and “best offer”, since it is the best way to communicate that you aren’t an amateur seller and that you’re willing to “deal”. Once you’ve tried newspaper advertisements you should also try and sell through online sites such as EBay and Craigslist. Whenever you do agree on meeting someone, make sure that you make the deal on a secure area, since there is always the possibility of a jewelry thief contacting you.

Once you follow all of the above steps, selling jewelry should become a second-nature process to you.

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