3 Tips You Should Know for Selling Your Jewelry (2024)

FAQs

3 Tips You Should Know for Selling Your Jewelry? ›

Resale Value. Generally, when you sell pre-owned fine jewelry, you can expect to get around 20 to 50% of the original purchase price. There are a few exceptions to this range. For example, very rare and highly desirable pieces may fetch a higher price.

Resale Value. Generally, when you sell pre-owned fine jewelry, you can expect to get around 20 to 50% of the original purchase price. There are a few exceptions to this range. For example, very rare and highly desirable pieces may fetch a higher price.

A successful jewelry salesperson employs strong communication and interpersonal skills when working with customers. Engaging in sincere conversations with your customers, rather than asking them a list of questions focused around their price point, can be a more effective strategy.

Around Mother's Day, Valentine's Day and Christmas are some of the best times to sell jewelry. People are usually more sentimental during these times. Therefore, they'll be more willing to pay a pretty penny for your valuables.

Pieces like beaded bracelets, pendant necklaces, and simple hoop earrings can be both easy to make and highly marketable, and what's better, these designs require minimal skills but leave room for creativity in terms of color, texture, and arrangement.

If your pieces are valued below $500, try your luck at a local jewelry store who may pay cash outright, consigning with a local resale boutique, or snapping some pics and uploading them to a Facebook or another online marketplace. Yard sales are great for costume and “junk” jewelry.

Consumers can choose to part with their jewelry by taking the item to a reputable pawn shop or opting for a luxury buy-back program. Reputable pawn shops are often able to offer higher rates as they are in the business of reselling gold items.

The purity of the gold (as a decimal) can then be multiplied by weight of the gold and the current market price. For example: if you sell a 14K gold necklace weighing 0.3 ounces at $1,700 per ounce, the calculation is 1700 x 0.3 x 0.583 = $297.33.

Yes, you can sell a diamond you found as long as it was found on your own property or in a public area that allows for the collection of minerals.

Go for gold, platinum or precious stones

Rings, necklaces or earrings made of gold and platinum can very well have diamonds and colored gemstones (sapphire, ruby, emerald). This again significantly increases their value. Jewelry or semi-precious stones have a comparatively much lower value.

Is it better to pawn or sell jewelry? ›

If you are in a position to wait for the maximum payout, then selling may be more beneficial than pawning. On the other hand, if you need cash quickly with no long-term commitment, then pawning may be the better option.

Know your worth.

Separate your jewelry by karat value before selling, and be wary of dealers who weigh all jewelry together and pay you the lowest karat value. Ask the buyer what the melt value of your items is so you can make an informed decision.

Every piece of jewelry has a story, whether it's the history behind a vintage piece or the craftsmanship of a new design. When selling jewelry, highlight these unique qualities. Talk about where the materials come from, the inspiration for the design, or any interesting details about how the piece was made.

Consider Jewelry Consignment

If you want to get the most money when selling your jewelry then jewelry consignment is a fantastic option. At Diamond Exchange Houston we offer a jewelry consignment program. Customers will leave their jewelry with us to sell for them.

For pricing and appraisals, selling to jewelry stores is better than pawn shops. Pawn shops have high overhead costs and typically resell items at a lower price. Jewelry stores have in-house master jewelers who can provide accurate appraisals and higher prices for your jewelry.

Pros of Selling With Worthy:

Diamonds and jewelry pieces can potentially get a high bid because of the competitive nature of the auction platform. Worthy's website is easy to navigate with lots of great education for sellers. The high-value and free insurance policy of Worthy makes sending jewelry to them safe.

It depends on how long you own the asset (in this case, the jewelry). If you own it for less than a year, the gain is taxed at an ordinary income rate. If you own the jewelry for a year or longer, the profits are taxed at the capital gains rate. If you incur a loss on that sale, you owe nothing.