Whenever someone experiences tough financial situations, the first solution that comes at hand before asking for a loan or taking a second mortgage on the house, is to try and make a profit out of selling valuable items. The easiest and fastest way to make some cash is to sell jewelry, but before you start emptying all the jewelry boxes in the house, there are some things you should know, which will be very helpful when you try to obtain a good price.
The first option that comes to mind is selling jewelry to shops and jewelers, but surprisingly this is not the best way to make some serious cash. As much as jewelers are helpful when they’re trying to make a sale, they show little to no interest in buying jewelry, if you don’t own any antique pieces or some rare jewels that might be sold as they are. Otherwise, old jewels are going to be melted anyway and that’s just another hassle for a jeweler. If you want to sell jewelry for cash, and not exchange it for other items in the shop, then you’re out of luck, because most jewelers will offer you this alternative. They’ll rather sell some of their items than offering money in exchange, and even if they do, the prices are usually very low.
So, now you have to come up with a real strategy to help you sell jewelry for a higher price. First, gather all the documentation and paperwork you have at hand, like appraisals, certificates or receipts. They might help you make a pretty good idea of what your jewelry is worth. Just pay attention to appraisals, because they should be done for fair market value, because this is the value you’re interested in. Of course, documentation is helpful if you have some valuable jewelry, really worth something. Unfortunately, “common” jewels will never be sold for as much as you paid for them, simply because any dealer is interested in the metal they’re made of, usually gold, platinum or silver.
In case you have a valuable jewel, made by a famous designer, or an antique piece, try your luck with a private buyer at auctions or by posting online and newspaper ads. This method is not entirely safe, because there are always people trying to take advantage of others. Never send your jewelry before you receive any money, and don’t give out any personal info someone might use against you.
The third option will not guarantee you a price as higher as one you might get from a private buyer, but it’s certainly safer. A reputable dealer, who is willing to buy jewelry, even if broken or damaged will verify it, estimate its value and then pay you the money on the spot. Don’t expect to get the retail value of your jewelry, because a dealer will pay attention to two aspects when setting the price: how much the jewelry weights and how much gold it actually contains. Most dealers will buy anything from 8 karat and above. Karats are an indicator for the gold purity. The purest gold is 24kcarat gold. You can check yourself for hallmarks and jeweler stamps, but even if you don’t notice them or don’t know how to read them, a dealer will know exactly what to look for and has different techniques to test gold authenticity.
Pawnshops are not really an option for those who want to sell jewelry, because these businesses are mostly interested in making a profit out of loaning money in exchange for items and less in reselling them.
As you can see, it’s up to you to make the best decision, but nevertheless don’t ever sell jewelry to someone you don’t trust, even if it’s a private buyer or a dealer. To make sure you’re making the right decision, pay attention if the verification process is done right in front of you, check the scales they’re using and see if they’re willing to answer any questions you might have, even if you’re not decided to sell right away. Someone who’s evasive in their answers, or pressures you into selling is not the right person to make any kind of business with.
Best NYC Buyers is one of the best places to sell jewelry, gold, platinum or silver, having a friendly staff of experts ready to help you and guide you throughout the entire selling process. Everything is done with transparency and integrity, because customer satisfaction is always put first.