Selling jewelry is an easy go-to to make some fast cash. It is also a great way to rid drawers of broken pieces or unworn relics and can help during difficult times such as a divorce. The hurdle people face is knowing what type of jewelry sells and where the best place to sell that jewelry is.
The Reasons Behind the Sale
As mentioned before, there are numerous reasons that people need to sell their stash for some fast cash. Failed relationships often leave people with jewelry that leaves a painful memory. Broken jewelry tends to be hoarded but would serve a much better purpose if it were making some money. Perhaps an overly generous grandma has passed down too many dated, sparkly bobbles that don’t serve any purpose. Whatever the reason, this quick guide will provide a reference for where to sell gold or other metals and gems.
Types of Jewelry That Sell Quite Well
Typically, when selling jewelry, it is most profitable to start with items that contain precious metals such as gold, silver, platinum, or palladium. Any of these metals will earn their weight in resale. They are each measurable from home if the seller has a scale to determine how much those pieces weigh. Referencing a metal’s spot price online is a great way to help sellers see a general price for their item and provide a baseline cost. Calculating the worth of jewelry from home can seem intimidating, but luckily it is a breeze to get jewelry appraised in-store as well. Many jewelers offer fast, free appraisals for interested sellers. The best place to sell gold is to a company that can provide more personalized services.
More Fast Sellers
Diamonds are a great option with any licensed jeweler. Whether those diamonds are loose or set, diamonds will generally sell. Jewelers know that diamond rings or earrings require little work before they pay off. They are eye-catchers, quick-sellers, and always valuable, which helps in their appeal. Many jewelry purchasers are looking for second-hand pieces to help cut down on their high costs, so it’s a safe bet for sellers. Diamonds are tested in the store, but keep in mind that they have a wide range of worth. Depending on cut and clarity, a one-carat diamond can range from $2,000 to $25,000, so having it appraised is the best way to know for sure.
What Not to Sell
Common gemstones, pearls, sterling silver, or plated jewelry shouldn’t be considered real money makers. Often, jewelers cannot remarket these items, and buyers aren’t very impressed by them. Because of the skill required to determine their legitimacy, local jewelers generally cannot appraise pearls even if they are worth thousands. Most are not equipped to test pearls and tend to avoid buying them altogether. An attempt to sell any of these items will likely pay sellers a bottom-dollar amount, if anything.
What to Buy
A great purchase option is gold bullion. These bars or rounds of gold are not sovereign coins recognized by any world government. To simplify, they are worth their weight at a set world standard and do not contain any additional value beyond that. Silver bullion is an excellent purchase option for anyone looking to grow the worth of their metal over time. Silver has had a significant and predictable growth in value and has a low rate of loss overall. Gold can vary in value to near extremes, so it is important to follow current pricing to sell gold at the right time.
Top Four Reasons to Sell Jewelry Locally
Rather than selling jewelry in a risky way, such as online, consider selling to a local jeweler. Businesses in Texas like the Fort Worth gold and silver exchange are excellent examples of buyers that provide the benefits listed below.
- Jewelers have many more customers and market jewelry in person. This opens up an opportunity to sell more, and they are willing to pay more for each piece.
- They provide extra options like pawning, cosigning, and even brokering pieces to auction.
- Local dealers are more trustworthy and have a reputation to keep. They aren’t looking to scam anyone.
- The benefit of the sale stays local, and the money remains within the community, which is a win-win!
Let the Selling Begin
It is now easier to see which jewelry pieces can sell, what can be earned from them, and where the best places to sell are. Keep it simple, make comparisons, and know the piece’s worth ahead of time if possible. Implementing these key steps will turn that dusty jewelry into a profit that will not be forgotten quickly.
About Us
If you are in the Fort Worth area of Texas and looking to sell jewelry, contact Alliance Gold and Silver Exchange. We have several selling options to meet your individual needs. Call or come in today to see what we can do for you.