There are many times of year when people can use a little extra cash, and for families, the back-to-school rush is one of them. After a long summer of keeping kids entertained, now comes the exciting, exhausting, and expensive prep for new terms.
One way to put some extra dollars in your pocket is to sell jewelry for cash!
No matter what your reason is for parting with your jewelry- be it to boost your finances, clear some space, or simply because you no longer want it- knowing the best methods and places to sell jewelry can help you maximize the payout.
To help you do that, we have compiled a guide to selling jewelry online and in person- including a few leading companies who can take your pieces off your hands.
Where Can You Sell Your Jewelry?
Here are some of your options for selling jewelry.
Online
Many online companies buy jewelry at a fair price. You can also find websites that will sell your jewelry for you through online auctions and private sales.
Alternatively, you can post it yourself on various marketplaces.
Pawn Shops
A pawn shop is a great place to sell jewelry quickly, but you may not always get the best price. If a speed sale is most important, this could be your answer.
Jewelry Stores
Many jewelry stores will buy second-hand pieces. Local jewelry stores are some of the best options if you want cash-in-hand but don’t want to go to a pawn shop, but some will only offer store credit.
Sell jewelry locally in-store is also an option for broken jewelry.
Auction Houses
Taking your jewelry to auction can be a great option if you have rare, vintage, or valuable pieces. Although there is no guarantee that you will get a reasonable price, you can find the right audience.
Setting a reserve price so the piece does not sell for less than you are willing to accept is a good idea.
Precious Metals Buyers
You can sell gold, silver, and platinum jewelry to precious metals dealers. This is a simple way to sell pieces based purely on their weight value, so it doesn’t matter if it is old or broken.
Tips for Selling Diamond Jewelry
Diamond and other precious gemstone jewelry is highly sought, and plenty of places exist to sell it.
However, there are a few things to consider before you do.
- Have the piece professionally cleaned before you try to sell it.
- If you have a certificate of authentication, take it with you.
- Get an independent appraisal from somewhere other than where you intend to sell it.
- Find out if there are any non-precious stones in the piece.
- Never send your diamond pieces anywhere without absolute certainty that it is a genuine and trustworthy company.
- Compare quotes from multiple diamond buyer options to find the best price.
Tips for Selling Gold Jewelry
Gold jewelry can be sold as a piece or as a material. It is an easy type of jewelry to sell because people are always looking for gold.
Here are a few things to consider.
- Decide if you want to go to jewelry buyers or precious metals dealers.
- If you want cash fast, pawn shops are a good option.
- Research the current price of gold before you sell.
- Broken pieces still have value!
- Always go to a reputable buyer- check the reviews online.
Tips for Selling Vintage Jewelry
Estate jewelry can be complicated to sell in terms of valuation. The materials and composition are only part of it- there is also the history and sentimental value to consider.
You can get more money for your vintage or estate jewelry collection if you visit a company or auction house specializing in these pieces. They can advertise it and generate interest for the piece on your behalf.
Another tip, if you are considering selling a vintage piece, is to keep actual and sentimental value separate. Be realistic about what it is worth. If that is not enough to make you feel comfortable about parting with it, maybe it is better not to.
Best Places to Sell Jewelry Online
Here are some online jewelry sellers and buyers to consider.
Abercrombie Jewelry (Best for Selling Diamond Jewelry and Precious Metals)
Abercrombie is an online jewelry site that buys and sells precious gems and metal jewelry. If you have a diamond ring to sell, this is the place to do it. A professional expert appraises Your piece fairly before an offer is made.
Pros
- All precious and semi-precious pieces are considered.
- There are flexible payment options available.
- Quotes are fast, as are payments.
- The site is well-known and highly reputable.
Cons
- There are no auctions- only fast, direct sales.
Cash for Gold USA (Best for Selling Gold Jewelry)
Cash for Gold USA is one of the best options if you have gold to sell. The site works quickly and will buy almost any gold piece with eight carats or more.
Pros
- You get the money quickly.
- Shipments are insured.
- Appraisals and offers are handled within 24 hours of them receiving the gold.
- The company returns your gold for free if you decline the offer.
Cons
- You may get more money at auction.
- It is not a good choice for diamond jewelry.
Sotheby’s (Best for Selling Valuable Fine Jewelry)
Sotheby’s is an excellent place to sell fine jewelry. It specializes in high-value or rare jewelry and offers auctions or private sales.
Pros
- A dedicated specialist handles your piece.
- It is a go-to site for high-value buyers.
- Flexible sales methods may maximize your selling potential.
Cons
- Your jewelry may not be accepted if it doesn’t meet the required standards.
The RealReal (Best for Selling Watches and Designer Jewelry)
You can sell luxury jewelry items and watches through The RealReal. It is an excellent choice if you have a valuable piece and are willing to wait longer to get some money.
Pros
- You have a guaranteed 30 days listed at the highest price point.
- Many auctions generate a lot of interest.
Cons
- The seller fees are high.
- Sometimes, the price will drop to find more buyers.
Things to Consider Before Selling Your Jewelry
Before you sell your jewelry online or to an in-person jewelry buyer, it pays to be prepared. Whether you have unwanted gold, an old diamond engagement ring, or valuable jewelry that would be far more useful as cash in hand, you may get a higher sales price if you think ahead and weigh up your options.
Decide What is More Important: Getting the Most Money or Selling Quickly
Some people only want to part with their used jewelry if the price is right and are happy to wait longer if it means maximizing the sale. Others need cash quickly and will accept less money if it means cash on the spot.
Decide what matters more to you, which could completely change your path. There is no faster way to get cash for jewelry than pawning, but they rarely pay as much as you could get elsewhere. Auctions or private sales can generate the most money, but finding the right buyer can take a long time.
Know as Many Details as Possible
The more you know about your piece, the smoother your sale can be. It also helps you better understand the market value of your jewelry and how much you should realistically accept.
Some of the details to find out include:
- Who the original manufacturer was
- The cut, clarity, color, and carat ratings of any diamonds
- Carat rating and weight of gold
- Whether or not there are any artificial materials used in the piece
Have the Piece Appraised Independently
Always arrange an independent appraisal from a reputable source. The chances are wherever you try to sell your jewelry will do their own, but there is an ulterior motive, and you can never be sure how accurate it will be.
Find Out How Payments Work
Look into the payment systems of any potential buyer. Do they offer cash or direct bank deposits, or do they only offer store credit? Also, check the commission rates if you are selling through a company.
Final Thoughts
The good news is there are plenty of ways to sell your jewelry in person or online, but you need to be realistic about the quality and value of the piece. Picking the best way to sell your jewelry depends on how quickly you need the money, what category your piece falls into, and how much you want to get from the sale.
If you wash cash in hand, the best places to go are pawn shops or a local jewelry store, but you may get more money through a reputable online store or auction house.