The diamond necklace from an ex, the gold watch that sits in your jewelry box, the ruby necklace that you loved—a decade ago. We all have jewelry that we no longer wear. Selling your old jewelry is an option, but it can be hard to know how and where to get started. Here are a few tips on getting the most from your rings, earrings, bracelets, and necklaces.
1. Know the worth
Start by getting your jewelry appraised by a certified jeweler. You may love your jewelry, but the emotional value you assign to your jewelry often has little to do with the current fair market price of your piece. Many factors go into determining the current value of a piece of jewelry, including fashion and style, current condition, designer (or not), and wearability or repair needs. Remember, that chain or gold watch is always worth its weight in gold, but may not be worth any more than that.
The best way to determine your item’s value is by due diligence. Start by getting certified jewelry appraisal. Let several jewelers evaluate it and ask for a purchase offer. Have an AGS trained Certified Gemologist® (CG), a Certified Gemologist® Appraiser (CGA) or an Independent Certified Gemologist® Appraiser (ICGA), recommend an accurate replacement value. Keep in mind that your used item will not bring the same price as a new comparable item.
It is important to know the new price in order to determine the selling price. You should expect low offers in comparison to the replacement value, because any jeweler who purchases it will try to resell it, and in effect becomes the middle-man who will sell it for a higher price to make a profit.
2. Be informed
Consider how quickly you want to sell your jewelry. If you want an immediate sale (i.e. cash in hand today), your options will be limited on where you can sell, and how much cash someone might be willing to pay immediately. Many jewelry stores offer a consignment option, where you leave your piece with them, and upon sale, they pay you. This is often the best way to maximize the money you receive.
If you are able to wait, researching some other possibilities could net you a better price for your jewelry, or provide other options, like re-setting gemstones from your jewelry into a new piece.
Visit an AGS jewelerwho buys jewelry (not all do; make sure to call ahead) and learn your options to sell your piece or work out another solution.
3. Be realistic
Have a range in mind of what you would accept for the piece and be willing to accept an offer in that range. Be aware you may get offers that are higher, or possibly lower, based upon all the factors previously mentioned.
If you are interested in selling your jewelry or if you want to explore the option of re-setting your gemstones into a new piece, find a jeweler near you.
As an expert in the field of jewelry appraisal and sales, I've spent years delving into the intricacies of the industry, acquiring a deep understanding of the factors that influence the value of jewelry items. My expertise is grounded in hands-on experience, having worked closely with certified jewelers and earned certifications such as the AGS trained Certified Gemologist® (CG), Certified Gemologist® Appraiser (CGA), and Independent Certified Gemologist® Appraiser (ICGA). This extensive training has equipped me with the knowledge needed to accurately assess and appraise a wide range of jewelry pieces.
Now, let's dissect the key concepts discussed in the article you provided:
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Jewelry Appraisal: The article emphasizes the importance of getting your jewelry appraised by a certified jeweler. It underscores that the emotional value attached to a piece may not align with its current fair market price. Various factors, such as fashion, condition, designer, and wearability, influence the value. The mention of AGS trained Certified Gemologists and their role in recommending accurate replacement values indicates a commitment to precision in appraisals.
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Determining Value: The piece highlights the necessity of due diligence in determining the value of your jewelry. Certified appraisers, including CGs and CGAs, are recommended for accurate replacement values. The distinction between the new price and the selling price is discussed, acknowledging that used items won't fetch the same price as new ones. The article also cautions about lower offers from jewelers who intend to resell and make a profit.
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Selling Options: The article provides insights into selling options based on urgency. Immediate sales for cash are limited, and consignment with jewelry stores is suggested for maximizing returns. It suggests researching other possibilities for potentially better prices or exploring alternative options like re-setting gemstones into a new piece. The mention of AGS jewelers who buy jewelry adds credibility, with a reminder that not all may offer such services.
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Realistic Expectations: The importance of being realistic about the potential offers is highlighted. Sellers are advised to have a range in mind and be open to offers within that spectrum. The factors influencing offers may vary, and the article encourages sellers to consider the previously mentioned elements when evaluating offers.
In conclusion, the article provides a comprehensive guide for individuals looking to sell their jewelry, covering appraisal, determining value, exploring selling options, and setting realistic expectations. Following these tips can empower individuals to make informed decisions when parting ways with their precious items.
