Everything You Need to Know About Selling Your Old Jewelry

There are many things that can be a contributing factor when it comes to selling your old jewelry. Maybe you’re in need of money. Or maybe you just want to get rid of that particular piece. No matter what the reason is, you need to be smart about selling your old jewelry.

Knowing your jewelry 

The first thing you need to know about when it comes to selling your old jewelry is that you need to know what you have. Many times people go to a place looking to sell their jewelry without doing their research or having the piece appraised. They just want to make a quick buck. But if you want to get the most money you’ll need to do a little work.

The best way to determine the current value of your jewelry is to have it appraised by a certified AGS appraiser. We can help you with that. Our trained certified appraisers can carefully determine the retail replacement value (the cost for a comparable replacement in the retail marketplace) for your old jewelry. 

But while it’s important to have your jewelry appraised it’s also important to note that the value you are given might not match the price a potential buyer is willing to pay. A lot of times when people have something appraised they think that the number they are given is the exact number they will receive. That’s not always the case. Especially when it comes to resold jewelry. Which is why it’s important to know your piece. And be realistic about the price.

Gather information

The second thing that you need to know about selling your old jewelry is that it’s good to be informed. you want to get as much information as possible before making the decision to sell your jewelry. This means that you want to take your jewelry to not one but two appraisers and see what they have to say. One for an appraisal and another for a second opinion. You can never have too many opinions when it comes to selling your belongings. It’s what you do with those opinions and advice that matters.

Being realistic

Once you gathered all of the information you need to sell your old jewelry and you know the value of what you have – it’s time to get realistic about how much you’re going to get for it. Nine times out of ten what something is appraised for isn’t what it’s sold for. If I’m being honest, most people want a bargain. Most people can’t afford to spend an arm and a leg for something they want. So they negotiate to get the lowest price imaginable. If you’re selling you’re old jewelry, you’re probably one of those people too.

So this is the point where you need to set a realistic price point. It’s ok to set a minimum and say I’m not willing to go below this price. But it’s not ok to set a price that’s unimaginable for most people to pay. At least not if you’re looking to sell your piece fast.

Worthy jewelry

Worthy jewelry is old jewelry pieces that are in good condition for reselling. Usually, these are pieces that show little wear and tear, still have the papers (if applicable), and from a luxury brand.

Scrap jewelry

Old jewelry that’s either broken or severely worn down is known as scrap jewelry. Though this type of jewelry can still be resold, it’s good to note that the value of scrap jewelry doesn’t quite match that of regular old jewelry.