Precious stones and metals are highly sought after. There always has been and always will be a fascination with shiny things- and Austin is a great place to sell them.
Whether you have an engagement ring you no longer need, a family heirloom that has lost its sentimental value, or a piece you have been saving for a rainy day- it helps to know the best ways to sell jewelry in Austin.
Here are four possible ways: tips, considerations, and frequently asked questions.
What Is the Best Way to Sell a Piece of Jewelry?
In short, the best way to sell a piece of jewelry depends on your goals. There are a few options- some that favor fast sales- and others that give you a better chance of getting more money.
Selling Jewelry in Austin: Where to Begin
When asking yourself where to sell your jewelry in Austin, you should think about a few things to help you choose the best option.
Consider the Value of Your Jewelry
First, be realistic about how valuable you think the jewelry is. If you have what you think is fine jewelry but are not sure of its worth, you should have it appraised by a reliable source. It is easier to get a fair price when you know the current market value.
Sale Value VS Sale Speed: What Is Most Important to You?
The second thing to consider is your priority- do you want top dollar, or are you more interested in a quick sale? It is a good question to ask yourself- and the best place for you to sell your jewelry will depend on the answer.
Proof of Ownership and Authenticity
Lastly, check whether or not you have any documents to go with your piece. Some things don’t require proof of authenticity or ownership, but others do.
Once you are ready to go and know your goals- you are ready to go! Here are a few options for selling jewelry in Austin.
Sell Your Jewelry in a Pawn Shop
If a speedy sale is what you want, a pawn shop is a good solution. Pawn shops are always happy to accept new inventory- and will usually pay a reasonable price if it is in good condition for resale.
There are around three dozen known pawn shops in Austin- so it is worth going into a few to compare offers and find the best price for your jewelry.
Things to Consider When Selling Jewelry to Austin Pawn Shops
You are unlikely to get paid retail price for your old jewelry or sell an engagement ring when you sell it to pawn shops.
Some pawnbrokers will accept jewelry without receipts, proof of ownership, or authenticity certificates- but they may lower their offer.
If you want to receive payment on the spot in cash, pawning is probably the best choice.
Sell Jewelry and Loose Stones to a High-End Jeweler
If you have designer jewelry, loose diamonds, or high-quality diamond jewelry, you could be able to sell it to a jewelry store. High-end jewelers will often buy used jewelry if the stones are not damaged- since they can use it to make new pieces- or sell it second-hand.
Things to Consider When Selling Jewelry to High-End Austin Jewelers
It is important to take some form of proof that the jewelry belongs to you when you choose this route- especially when selling diamond jewelry. No reputable jeweler in Austin is likely to accept anything without it.
You may not be able to receive cash if you sell this way- some jewelers only offer store credit.
They are likely to appraise your jewelry in the store- they are experts, after all-but you might want a second opinion before committing to the sale.
Sell Your Jewelry Online
People sell almost anything online these days- including watches, diamond jewelry, and other bling. The main benefit of selling this way is the wider pool of potential buyers- you are not restricted to Austin buyers alone.
If you aim to get the most money for jewelry, then selling online is a good option.
You have the direct attention of people specifically looking to buy, and potential bidding wars (depending on how you advertise) could drive the price higher.
Things to Consider When Selling Jewelry Online
If you sell through an online broker, check their reputation through trusted sites such as the Better Business Bureau. It would be best if you only went through fully insured websites.
Be prepared for the postage- and don’t cut corners on tracking and tracing. If your buyer lives far away, sending it might cost you more- but the potential higher sale price could make it worth your while.
Go to Auction
An exciting way to sell diamond jewelry and other fine pieces is through an auction house. Austin has several- including the Austin Auction Gallery, known for selling rare, collectible, and valuable items.
Your piece will be shown, advertised, then put up for auction- with the highest bid on the day winning the jewelry. A benefit of selling this way is access to the dedicated staff who do their best to sell items for as much as possible.
Things to Consider When Selling Jewelry at an Austin Auction
- There is a fee for selling an item at auction. It is usually a set percentage of the total sale- paid as a commission to the house.
- Setting a reserve price- a.k.a. the minimum amount of money you are willing to let go of your jewelry is a good idea.
There are many ways to sell jewelry in Austin- it depends on how quickly you need the cash- and how much money you hope to get.
Whether you go through a jeweler, pawnbroker, auction, or online seller- make sure you know the value and are realistic about your asking price. If you can find some documentation- especially for diamond jewelry and estate jewelry- it won’t hurt!