It turns out there are countless reasons why individuals decide to sell their jewelry. Jewelry is one of those belongings that holds great sentimental value, so the selling process hits close to the heart for many. Whatever the reason might be to make the decision to sell, it’s important to consider these factors before taking the first step:
1. Be Realistic
The emotional value placed on your jewelry often has little to do with the current fair market price. Having unrealistic expectations is a sure path to disappointment. Several factors go into determining the current value of a piece of jewelry. Condition, style, diamond and gemstone qualities and sizes all factor in, along with market trends.
2. Weigh Your Selling Options
Channels for selling vary widely. Choosing the right one can net you more in the end. Internet marketplaces have become a popular way of selling. There are even Web sites that specialize in selling old engagement and wedding rings. Estate jewelry dealers buy and sell or consign nearly new to antique pieces. Gold buyers focus on gold, silver, or platinum but won’t be your best bet for diamonds and gemstones. Auction houses, both local and national, typically handle higher value items.
3. Be Informed
Consult a professional jewelry appraiser – preferably one that doesn’t buy or sell – and ask for a “Fair Market Value Appraisal.” Your appraiser can give you an unbiased option of all style and quality characteristics of the gems and metals; and can help you understand the potential resale value of your jewelry. Your appraisal is an excellent tool to have in hand when handling the selling process.