We all reach that point in our lives when we’re simply bored with the jewelry that we have. Our collection’s gone rusty, our chains are tangled, our gems are scratched, and we recognize that our collection isn’t quite what it used to be.But how could this happen?
Jewelry collectors like us are up to date on all things trending.
So, we constantly have to buy what's new and in.
But by now the seasons have changed; we’ve worn it all and want the next new thing:
New looks, new trends, new jewels.
So we start rampaging through all the old stuff, keeping what’s valuable, ditching what’s old. We’re ready and willing to kick the rust to the curb and refurbish our prized collection.
We start Googling around for the latest trends and styles.
What gold color works with my skin tone?
Are armbands back in style?
Maybe I can trade my Rolex in for something with a bigger face?
As our minds go wild we suddenly come back down to Earth.
Then we remember that money is a thing.
So, what are we to do?
The answer is simpler than we may think.
Sell and upgrade. The best way to upgrade your jewelry collection for cheap is to make some quick cash off of the jewelry you haven't been wearing. One man's trash is another man's treasure. Once you've shipped out the old, you'll be financially equipped to welcome the new.
And that's a good feeling.
Sell those rings you’ve outgrown, earrings you never really liked, necklaces that are just so 2008, and use the money to purchase new and exciting jewelry. Sounds too good to be true. Almost.
- Take the plunge and sell your jewelry in person
Before heading down this road and selling your jewelry, there are a few steps you’ll need to take. Your first step is to find a reliable jewelry buyer who makes you feel comfortable. There are many professional buyers out there looking to purchase all sorts of things. From luxury watches, to gold coins, to earrings, and diamond rings; if you’re looking to sell it, chances are, someone else is looking to buy it. But where there’s a buyer, there’s a scammer.
The streets of NYC are filled with professional conmen, ready to trick you into selling your jewelry to them for less than the piece is worth. Don’t be fooled. Doing your research ahead of time is a great way to get the best deal for your jewelry.
So, how can you tell if a jewelry buyer is reliable?
Taking a close look at their site is a good place to start. If a firm is licensed and accredited, it’ll be quite easy to tell. This information will be readily available on their home page. Once you’ve discovered this information, you can go ahead and schedule your free appraisal.
Before marching into your appointment, it helps to have some sort of estimate about the value of your jewelry. Know the current selling rate of gold, silver, and diamonds. Becoming a knowledgeable jewelry seller is all part of the process. Sites like GIA, PriceScope, and GoldPrice are all available to help you assess your jewelry before bringing it to the hands of an appraiser.
Once the appraiser makes you an offer, you have two choices: take the cash and run, or take some time to think about it.
This is the great part about selling your jewelry in person. By interacting face to face with another person, you have the ability to negotiate and ask questions in real time.
- If doing it in person isn’t an option, you could always sell your jewelry online.
We all know about sites like Ebay, Amazon, and 62Days. Now that the internet has become available to just about everyone, buying and selling goods online has been seriously trending. According to Retail Dive’s Consumer Survey, the majority of consumers much prefer to shop online for just about everything- use this tip to your advantage when selling your jewelry.
Once you’re aware of approximately how much your jewelry is worth (courtesy of your internet research or free appraisal), you won’t need to worry about getting ripped off online. Each of these sites make selling your goods quite easy. For Ebay and Amazon, posting a listing takes all of a few seconds.
For 62Days, once your item is sold the payment will land in your account within 24 hours. But here’s the fun part: If suddenly you find yourself aching for the jewelry you’ve sold, fear not. Within 62 days, you’re able to buy it back for the exact same price that you sold it for.
Selling online is less committal. The item remains in your hands until you are willing to send it off. There is no face-to-face pressure and depending on the site, you are able to change your mind.
- Then there’s the auction option.
There are endless online and offline auctions, should you choose to go this route. Choosing an auction can be a good move if you’re not in a rush to sell your jewelry, as auctions tend to be seasonal or monthly. Selecting to consign at an auction takes a lot of planning as it is recommended do so at least 8-10 weeks prior to the auction.
Additionally, you must sign a consignor contract once you agree to submit your jewelry to an auction. This process gets even more complicated once you’re asked to send in images of the item, front and back, as well as a receipt of purchase if one is available. You’re also required to write about the piece of jewelry extensively using as much detail as humanly possible. Once your item is accepted to auction, you mail it in and wait it out.
After the sale is made, you will be notified and compensated.
But what happens if the jewelry doesn’t sell? Worry not. Your jewelry will be shipped back to you. Choosing to sell your jewelry in an auction is a low risk decision as the people in charge are pro sellers themselves - they aren’t looking to rip you off or sell your piece for less than its worth. This is a great route to go if you're not looking to bargain or haggle, as someone else will make sure your item is sold for the highest price possible.
However, it is important to note that online auctioneers will take a percentage of the amount your jewelry is sold for. This amount ranges from 22-25% which is the standard buyer's premium. This is the issue with hiring a third-party seller -- they are rightfully entitled to their share.
As you can see, there are many different ways to go about selling your jewelry, each with various pros and cons.
But once you sell your jewelry, you can begin updating the contents of your jewelry box. The sooner you do it, the sooner you can start researching the newest trends:
What's missing from your collection? What's in style? What will make you stand out among other collectors?
Transform your new cash into a new attitude and hit the boutiques today!