How to Sell Jewelry to a Trusted Dealer
If you are looking for a perfect guide that will help you sell your jewelry to a trusted dealer, then you have come to the right place! Selling jewelry could be a tedious task and with so many options, one is bound to get confused and choose the right way to sell jewelry in the most beneficial way. It doesn’t matter if you have a piece of platinum or gold jewelry, diamond jewelry or precious watches, but we, at Diamond Source NYC can provide valuable resources for you to get the best deal for your jewelry. Also, we are a great buyer of jewelry and watch too, and will assure you to provide the best price in the industry for your valuables.
We understand the value of your jewelry and the emotions related to it. There are chances that you still have that engagement ring which you no longer require. Today, we all are struggling in this challenging economic phase and selling your jewelry can help you kick-start your life once again. There would be numerous reasons behind selling your jewelry, and for your convenience, we are here to help you sell your jewelry in the most trusted manner.
Know your jewelry
It doesn’t matter if you are willing to sell a precious watch, an inherited platinum necklace or a gold ring, but the most important step in order to sell your jewelry starts here – you need to know your jewelry. You should know the rough value of your jewelry by understanding its true value. Try to do some research on your end and know the metal or the gemstones that have been used to craft your lovable piece. Educate yourself before making this wise decision.
It is crucial to get a fair price of your valuable. For example, when you sell gold coins, you are expected to get around 90% of the current market value. Although, with gold jewelry you are likely to get a price equivalent to 70% to 80% of the melt value. Since, the dealer might need to melt your gold and refine it to another piece – the price might fluctuate, depending upon the purity of your jewelry. The rule of thumb is pretty simple – the more precious the jewelry, the costlier it would be!
If you have a valuable piece of jewelry that has been brought from a rare collection or if you possess an antique or an heirloom, chances are that you will get a high price for it than any other average jewelry piece. In such a case, it will be worthy of more than the melt value (as an antique won’t be melted, but would be preserved).
There are certain precautions that need to be taken while selling your jewelry.
- You should make sure that your jewelry piece has no special value above the melt price.
- Always search for the most authentic and trusted vendor to sell your jewelry. There is a list that has been issued by the Jeweler’s Vigilance Committee that can help you identify a list of bad vendors and you can keep your distance from them.
- After being educated about the piece of jewelry you would like to sell, you might get a rough estimate of its selling price. If you find a vendor who is paying a less than 70% value for your valuable, try to understand the reason. If you are still not convinced, then move on and visit another store.
- You should always know the current gold price and find out what the vendor is willing to pay as a percent of the current gold price. If a vendor is paying a comparatively lesser price for a broken piece of jewelry, try to reason the same. If you think that the reason is fair enough, ask for a second opinion from someone in the industry and make a wise decision.
- If you are selling an abundant amount of jewelry, then ask for a better price. Jewelers always look for a wholesaler. If you are able to be that wholesaler, providing a jeweler with some of the most precious watches or jewelry, then ask for a standard rate.
- When you are selling your watch, make sure if it is an heirloom or not. If it is an antique or a valuable piece of jewelry, ask for a better price. If your piece is an antique, chances are you might get a better price than the standard rate.
- Always try to sell your jewelry to an experienced jeweler. With years of experience in the industry, they have created a name for themselves in the market. There is a reason why they exist for so long. It is because of their high values of always giving priority to their customers. An experienced jeweler will understand the true worth of your jewelry and will always try to provide the best price.
By now, you should understand that buying jewelry is any day easier than selling jewelry. If you are still not sure where to start or at what price should you sell your jewelry for, then give us a call or visit our store. We will help you make the right decision!
In a nutshell, you might have already gotten an idea that selling jewelry is not a child’s play. But with proper education, try to gain authentic knowledge about your jewelry before approaching the right vendor. Selling the right vendor could be a tedious task. We, at Diamond Source NYC, understand your reasons and with our highest values, we always treat our customers with utmost regards.
If you have a precious jewelry – a platinum ring, a gold earring, a valuable watch, an heirloom or anything in between, we are the best place to sell your jewellery. Write to us or drop by at our store and get a great deal for your valuable jewelry!