5 Tips You Should Know Before Selling Your Jewelry

People usually sell jewelry as a last resort, however, just because the situation is bad, this doesn’t mean that you shouldn’t get the most out of it. You don’t want to be desperate, sell to the first place that you hear of, or trust blindly everything that the buyer is telling you. Instead, what you want is to take your time and make sure that you’ve done everything to get the best deal possible. With that in mind and without further ado, here are the top five tips you should abide by.

1. Do It the Right Way

First of all, you want to look for a legit place where you’ll sell your jewelry. I understand that this is a common-sense statement but it’s important that we stress it out once again – inviting a random buyer to your home is a risky thing. It’s not even risky, it’s inviting trouble to happen. If they’re malicious, they’ll just steal it but if they’re even worse, there’s a risk that they’ll notice where you’re keeping the rest of your jewelry.

So, what you need to do is find a local jewelry store and give them a ring or send them a message/email. Inquire about whether they’re buying used jewelry and what the procedure looks like. Then, do some research online. Look them up on Google My Business and check if there are any reviews. Finally, look up local prices of used gold, just to know what you’re heading into. This way, you’ll be ready for what lies ahead.

2. Do Your Research

As we’ve previously mentioned, there are a lot of buyers out there whose reputations need to be verified. Second, in the age of the internet, you can easily find an approximate cost of used jewelry (per gram) in your area. Sure, ornaments, stones, etc. will make the calculation much more difficult but just getting a rough idea of the ballpark of the price in question is already a huge advantage on your part. Ideally, you would ask someone who has recently sold jewelry of their own.

Second, don’t be afraid to shop around. Why stop with one jewelry store? Go to the place and give them a jewelry piece for appraisal. Then, wait for them to make their offer. Once they’re done, tell them that you need to think about it a bit. Now, remember, this is not a TV series or a movie and they’re not going to tell you that the offer expires once you walk out the door. They won’t be vengeful because you refused them the first time and refuse to work with you in the future. Even if they did, big deal, you just go someplace else.

3. Pick a Local Place

Some people make the mistake of traveling to a distant area or even a different city in order not to be recognized as selling jewelry. This is generally a bad practice. Sure, with pawnshops it’s clear why people would do this, so that they can travel back and forth for deposit payments and, eventually, buy the item back. Ideally, you want the place where you’re selling to be someplace nearby. For instance, if you’re from Phoenix, Arizona, waiting to go on a Vegas holiday is outright ridiculous. Instead, you can just sell jewelry in Scottsdale and make everything more convenient.

The thing you need to understand here is that everyone can fall on hard times and there’s nothing to be ashamed of. Even if you aren’t that convinced of this, it’s enough to say that shame is better than remorse. So, deal locally and this will allow you to get a WOM from people you know. If this doesn’t reassure you nothing will.

4. Be Realistic

When it comes to the condition of the jewelry in question, there’s only so much you can do at home. Sure, there are several cleaning tips and tricks worth trying out but without a professional jewelry cleaner, you really won’t be able to do much. Still, there are some home remedies that you might find to be quite useful.

So, when it comes to the appraisal of the piece in question, put yourself in someone else’s shoes or just put yourself in a different role. Imagine if someone approached you with the necklace or ring in question and asked you to buy it. What would you be willing to pay for it? Better yet, what percentage of their asking price would you be able to deduct to get a better deal for yourself? This way, you’ll get an even better idea of its worth.

5. Trust Your Gut

There’s no way around it but you sometimes just have to trust your intuition. If you don’t like the person that you’re talking with, you don’t have to talk to them. There’s always another place and, if they’re fair, the prices will be comparable. After all, even in quick cash places, there are rules and estimates. They aren’t trying to cheat anyone because they don’t have to. Also, the costs aren’t arbitrary. They’re evaluated based on the weight, composition, and condition of the ring.

Another thing worth mentioning is that you really shouldn’t be selling when you have to. This is not a cliché and buyers really can feel it when you’re desperate. So, make sure that you have some time to shop around and make sure that you have other options to consider. Bluffing and faking it aren’t always an option and natural salesmanship comes with time and experience. The very fact that you looked up this topic means that you are new to this. So, play it safe.

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