If you have a broad collection of jewelry, there may be old pieces you may no longer like to wear. Or perhaps you’ve outgrown the style, and now you’ve decided to let go of it.
However, this doesn’t mean the piece of jewelry you’re looking to sell is any less special. One of the top advantages of buying fine jewelry is that it significantly appreciates in value. Naturally, you’ll want to sell it to a buyer or platform that offers the highest prices.
To get the best price for your jewelry, you need to be familiar with the factors that determine the value of pre-owned jewelry. So be discerning and don’t settle for anything less than what your jewelry is worth.
With that said, here are five key steps you can take when selling your old jewelry:
Be Intentional When Selling
Being intentional when selling means targeting the right buyers for your jewelry. You don’t have a wide variety of items to sell. You simply have a few from your collection that you want to get rid of.
You must be certain that you’re selling to the right people from the outset. Say you have diamond jewelry on the pricier side. You’ll want to market this to your friends and colleagues who can afford it.
When you’re intentional about selling, you increase the chances of selling your jewelry in no time, with little effort. If you can’t find specific individuals who might be interested in your jewelry, your next option is to post your items on your social media platforms.
Post On The Internet
Alongside the first tip, don’t forget one of the most reliable ways to sell any item: via the internet, particularly social media. Whenever you pull out items from your collection to sell, posting them on your social media account is probably the best way to get some hype.
If you want to go full blast with a jewelry business, that’s when building an e-commerce site is necessary. In this case, however, you’re only selling a few items at a time, or it could be just a one-time thing. Hence, your social media account will suffice for this purpose.
To level up your post, tag your friends who are keen on buying jewelry. This extra step ensures that those who are likely to buy won’t miss out on your post.
Sell To A Pawn Shop
This step may not necessarily be the one that can get you the most cash, but it can’t be ignored. Pawn shops are a convenient option if the reason for selling your jewelry is that you need instant cash.
After an appraisal, the pawn shop will offer spot cash for your jewelry item. However, don’t be quick to accept their offer. Instead, negotiate to get a better price. But if you feel you’re getting the short end of the stick, don’t hesitate to walk away.
If time isn’t of the essence, skip the pawn shops. You can get a better deal elsewhere.
Sort Your Gold According To Purity
This step applies if you’re selling multiple gold items. To make the transaction easier, faster, and smoother with your buyers, sort through your gold. A good grouping would be to sort according to purity.
You’ll need a magnifying glass to check those tiny markings such as 10K, 12K, 18K, and 24K. The higher the number, the purer the gold.
When you separate by karat, you can label each item on your post accordingly so buyers know what they’re looking at. There won’t be any confusion about the purity levels, as most questions will usually be along this line.
Make Sure The Price Is Right
Price your jewelry pieces too low, and potential buyers may think they’re fake. Price them too high, and they won’t even consider buying them. This is why it’s essential to ensure the price is right.
The best way to have the right price is to have your jewelry item appraised by a jewelry shop. If it’s gold, they can calculate according to the current global market value per gram.
While there are various reasons people decide to sell some of their old jewelry items, one fact remains: those who sell want to get the most out of it.
Jewelry is a precious asset, so don’t rush into the selling process without a clear understanding of how to go about it. Take note of the steps above, as they can help you sell your items in the best way and for the best value possible.
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