Everyone has at least one gold jewelry or some other gold item they don’t need anymore. Instead of holding on to unwanted jewelry in case you “might wear it sometimes”, or keeping broken jewelry around, why not trying to make some profit out of it? Well, if you decided to sell any gold jewelry or gold items you own, just make sure you don’t get a much lower price than you should.
Before selling, you must be aware of the fact that not all old jewelry is worth something, or that a buyer would be interested in it. It depends on the jewelry’s condition, the metals it was made from and the stones contained in the item. Some dealers prefer not to buy the gemstones too, and are interested only in precious metals, so they would take out the stone and weigh only the metal setting to calculate the meltdown value of the metal. Other buyers are interested in gemstones too, particularly diamonds, so consider selling to someone who’s going to buy the whole piece. Jewelry stores often prefer not to deal with second hand items, because most items can’t be resold. Pawnshops buy old jewelry, but the price is usually the lowest one you could actually get for your jewelry.
If you old jewelry contains mostly precious stones, you might want to consider selling to a dealers who’s certified in evaluating precious stones, someone like a gemologist. It would be a pity not to make some cash with the stones too.
Even if you have a fistful of old jewelry for sale, don’t be prepared to walk away with a fistful of money too. Old jewelry is worth only about 20% from the original retail price. This price is so low, because old jewelry was often never taken proper care of. Many parts of it are probably worn out, so the jewel is not as durable as a new one would be. Therefore, if the jeweler, the shop or the dealer would try to resell your old jewelry, they would have to ask for a very low price in order to make the piece attractive for other customers. Of course, this is not the case for antique jewelry, but if your jewelry is not an antique or a rare collectors item, then don’t expect it to be something sought out by buyers. The second reason why prices for old jewelry are lower is that most buyers don’t intend to sell the jewelry as it is. The gemstones are taken out at placed in new settings, while the metal parts are going straight to refineries to be melted down. It doesn’t matter how beautiful the jewelry design is, buyers don’t pay for design, just for the weight and quality of the metal. Wholesalers offer very attractive discounts to jewelers and jewelry stores, so they have very little interest into buying from a private seller.
Here at Best NYC Buyers we are offering the best prices for old jewelry. Our team of experts, including some of the best gemologists in the state, will carefully verify your jewelry and offer the correct estimation for its value. If you want to make sure you’re making the best deal, pay us a visit. You won’t regret it!