Tips
Jan 23, 2023
At some point, you will likely decide to sell jewelry you either purchased yourself or were gifted. We all have different reasons for this, such as needing extra money, having too much jewelry, not having a need or desire to keep the jewelry and potential attached memories. You get the picture.
If you're ready to turn some fine jewelry into cash, you will want to consider where to sell. Both online resellers and jewelry stores offer their advantages, but there are some warning signs to be aware of as well.
If you're looking for the best places to sell jewelry online, you can always start with reseller bidding markets such as eBay. This is your typical online marketplace, where you are in control of setting the starting amount and finalizing the deal.
Another auction website that has seen a rise in transactions is I Do Now I Don't. Although it is commonly the go-to place for selling old or new engagement rings that you no longer desire, you can find online buyers ready to purchase a variety of jewelry items.
While there are some convenient benefits for selling and auctioning off your jewelry online (no travel needed, somewhat instantaneous transactions and ease of communication), there are some factors to take into consideration to protect yourself and your jewelry.
One of the first steps is to ensure you are appraising your jewelry. If you miss out on this crucial step, you could potentially miss out on thousands of dollars for a rare or special gemstone or cut.
On the other hand, you need to be mindful of the appraisal prices you receive. All too often, an appraiser will offer you what is actually the current replacement cost and not the current selling price, meaning you could be expecting much more than the transaction actually yields. Some elements that factor into this "final price" include the beauty of the jewelry, the rarity of the stone, the point or place of the original purchase and the materials used to manufacture the piece.
Another key warning is to read the fine print and check the reputation of the online seller. In other words, do your research. The most common complaint from people trying to sell jewelry online is that the offers they received are far lower than the actual value of the piece. Some resellers won't return your piece of jewelry to you if the offers are rejected, while others won't actually send you payment once the offer has been accepted and the piece is received.
It can be beneficial to take accurate photos of the item in your possession as well as deliver the jewelry with an insurance plan to confirm when the package has been received. These steps allow you to have proof and evidence, should any of those "fine-print mishaps" occur.
The jewelry business can be tricky to navigate, especially when taking that business online to a reseller. For the best experience in selling your jewelry, find a store that exceeds your expectations and excels in customer satisfaction.
At Diamonds Above, we have years of experience in the diamond and fine jewelry industry and continue to offer unbeatable prices, both online and in-store. If you're in the Austin, Texas, area and you are looking for a reputable jeweler to sell your jewelry fairly and at an exceptional price, we're the buyer for you! Contact us online for more information regarding our selling and buying processes or call us at (512) 206-4156.
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