Selling Platinum

Looking to sell platinum or get cash for platinum jewelry, but have a few questions first?

We’ve got you covered! We created this page to help sellers like you make informed choices as you sell your platinum. Keep on reading for a full guide as to the what’s, the why’s, the how’s , and the best ways to sell platinum for cash! If you have any further questions or concerns feel free to give us a call at any time - we love answering questions! With this guide you will have a much easier time selling platinum as you understand the nuances that come with selling a platinum ring.


What is Platinum?

What is Platinum

Platinum is one of the purest and rarest metals on earth and is commonly used in luxury jewelry pieces. It’s a very durable metal and can withstand many scratches and abrasions, making it a popular choice for diamond rings and wedding bands.  Platinum has a district silvery-white shine which only adds to its appeal. It’s a pricy metal, and many find themselves turning towards platinum’s less expensive partner, palladium. If it’s in your budget, platinum is an excellent choice for jewelry and rings, and you’re bound to find a buyer for it if you decide to sell later. Selling platinum is not a difficult prospect considering that the metal is highly valued, and is particularly rare.


Where’s the Best Place to Sell Platinum?

Where To Sell Platinum

Whether you want to  sell a platinum ring or other platinum jewelry, you’re bound to find a buyer. The question is: which buyer? Choosing the right one can be hard. The most popular options are auctions, pawn shops, and private buyers. At Luriya, we recommend selling platinum to private buyer as this is how people make the most money and avoid scams. If you're looking to sell platinum rings, then a private buyer is undoubtedly the best and safest option as they are more than likely to give the best price to individuals who are interested in selling platinum.
Regardless of what you choose to do, make sure you sell platinum to a buyer who is honest and trustworthy. With all the of the “we buy platinum” stores popping up, it can be hard to know who to trust. Read reviews and speak with the buyers; if you have a bad feeling, take your sale elsewhere. Remember that you will have no shortage of buyers who are looking for individuals that are looking to sell platinum rings.


How Do I Sell Platinum?

How to Sell Platinum

Now that you know where to sell platinum, you’re probably wondering how to sell platinum. The first step is thoroughly learning all about your platinum and the selling process. Research what platinum usually sells for. The more you know, the more lucrative sale you will have. Knowledge will protect you against unscrupulous buyers who are only looking to take advantage of you. 
The second step is to take your platinum to an expert appraiserwho will be able to determine what it is truly worth and what it will sell for. If you have any questions along the way, a helpful appraiser will be happy to answer. Once your items are appraised, a buyer will walk you through the selling process. It is ideal to do your due diligence before you set out selling your platinum ring. Selling platinum is a tricky prospect as more than often, the problem comes with finding a buyer who is reliable.


How is Platinum Appraised?

Platinum Appraisal

The appraisal is actually very simple, and your valuables won’t be damaged in the process. The appraiser will test, weigh, and inspect your platinum through a few different methods. Weighing platinum is especially important because its weight will help  distinguish it from other similar metals. For example, palladium looks identical to platinum but weighs less – an appraiser who knows what they’re doing will be able to tell the difference. Additionally, your platinum will also be tested for purity and any abrasions. What you sell your platinum for will depend on what the appraiser finds.


Helpful Tips for Selling Platinum Successfully

Tips For Selling Platinum

With these tips in mind, selling platinum will be a breeze: 
1. Make sure the buyer’s scales are properly calibrated and certified. At Luriya, our scales are certified by New York State to ensure accuracy. 
2. Your appraiser should test your platinum right there in front of you, not take it to some back room. 
3. Read reviews about your buyer and see what other customers say. Check with organizations such as the BBB to see what their reputation is.

As long as you keep these tips in mind, you won't have any difficulty in selling platinum for a good price.

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