5 Tips for Selling Your Jewelry

I just saw a newspaper ad that asks, “Is it time to downsize your jewelry box?” If you’ve wondered about it, and find yourself looking at “we buy gold” signs in your neighborhood, this might be the time to consider whether you’d like to sell your jewelry (or at least certain pieces).

There are several reasons you might want to sell one or more pieces of your jewelry.

• It’s heirloom jewelry that isn’t really your style.
• You have something else you’d like to do with the money (college, wedding, home).
• You don’t have anyone to pass it along to.
• Your children don’t really want it.
• Your lifestyle has changed and you don’t need such elegant jewels anymore.
• You never really liked it and you’d like to trade up.

You might want to sell some of your jewelry.

All of these are valid reasons for paring down your jewelry collection. And I believe that jewelry deserves to be worn and loved. So if you haven’t worn it in years (decades?), you’re probably ready to let it go. Once you’ve made the decision, here are 5 steps to take to make sure you get what it’s worth.

1. Make sure you’re ready to sell. This can be a tougher decision than where/how to sell your jewelry. Say you don’t really love your great-aunt’s necklace but you feel guilty about selling it. Will you continue to feel bad  if you do sell it? Or, if you take the money you get for it and buy something you really love, can you still be grateful to your great-aunt for making it possible?
2. Know what you’ve got. You can’t accept any offer until you know how much your pieces are worth. The easiest way to start? With an updated appraisal. You’ll know what the piece is worth in current prices, and what condition the gem, setting, and piece are in. It may be worth getting some small things fixed, if it’ll up your price.
3. Decide how much time you want to spend. You can sell your jewelry to a store or dealer, or try to sell it to another person on your own. Ask your appraiser what he or she would recommend. Ask friends for recommendations of reputable jewelers who they’ve used.
4. Be realistic about what you can get. A jeweler or wholesaler has to mark up your jewelry so they make a profit. If your ring is worth $5,000 they can’t sell it at that.
5. Know your options. If you need money immediately, you’ll get less for your jewelry than if you can take your time. You can try to sell it on consignment (you’ll pay a commission), to a jewelry store (an interesting option if you want to trade up to a different piece of jewelry), or to a cash-for-gold operation (up to 50% lower price, but you’ll get the cash right away).

If you’re interested in downsizing your jewelry (or silverware or any precious items), do your research. I’m happy to help you get started, so don’t hesitate to contact me. You deserve to love—and cherish—every piece of jewelry you own.

Brilliantly yours,

Aimee