There comes a time at some point in life when you get bored with something or other. The same thing happens with jewellery. You also might have an old set of jewellery that you no longer wear, but fear letting go of this expensive possession because of the value expected in return. Obviously, you won’t get the same amount at which you bought it, but at least you can try to obtain a fair price in exchange for that beauty.
So, what do you do? Should you give the jewellery away at a nominal price? No! High-end jewellery deserves so much more. Since these valuable belongings came with a price, they must be sold off too at a reasonable price. Now the question comes, how and where should one sell the high-end second-hand jewellery to get the most for its gold and diamonds?
Well, we did some research and narrowed down a few crucial points to help you sell your jewellery at a reasonable price. Therefore, without any further ado, let’s begin.
Get an Insurance Valuation
Insurance valuation is the price at which you can replace your jewellery. Most of the time, this value is considerably more than what you could get after selling it. So, if you are planning to get rid of your old jewellery, do so in a smarter way that can give you another valuable asset.
Also, since it may be difficult to locate the bills and insurance papers of the old jewellery, new policies have been framed by the insurers that will benefit you. Insurance valuation is a better way to get the desired value in return for a new/old jewellery item as it contains all the necessary details of the item for buyer’s reference. In fact, if you were planning to buy another piece of gold or a diamond after selling it off, this is the perfect way to do that.
Besides, an up to date valuation will give you an accurate figure for replacement purposes. Thus, it affirms that your item will be replaced with another one that has a similar value. Besides, you can not only use the insurance valuation while selling the jewellery, but it also helps you claim it back in case it has been damaged or, in a worst-case scenario, lost. Additionally, note that the price of the valuation may vary from day to day as the costs of ornaments keep on fluctuating.
Where to Sell
Another big question is “where to sell the jewellery?” Nowadays, several platforms allow the owners to sell their jewellery in an informed way that ensures you get the best deal while selling it. So, once you have got a valuation done, and learnt how much your jewellery is worth, you can proceed to sell it where you get the desired price.
An auction house is an excellent place to sell a piece of jewellery that is exceptionally rare or old. Most buyers who are interested in antique jewellery attend auctions in order to hunt for unique pieces. So, if you have fabulous antique jewellery, an auction house is your destination.
However, there are chances that the auction house might take a few per cent of the profit you’ve gained after selling it, so be prepared accordingly. Additionally, auctions are infrequent. Hence you will have to wait patiently to get the right price.
Likewise, online market platforms like eBay and Craigslist are now one of the most popular options. Although this is the simplest process to get the right price for the item, there is no assurance that the product will get sold or not and even if it does, it might take a lot of time.
Additionally, almost all independent jewellery shops buy vintage and old jewellery at a fair price. Indeed, it is going to be a time-consuming task, but you will get the accurate value of the item.
Getting Your Jewellery Valued
How will you sell off the jewellery if you are yet to get it valued? Jewellery is one of the biggest prized- possessions as it tends to be a family heirloom or has personal significance. But if you are getting the desired value in exchange for a thing that you don’t use anymore, you are fortunate.
Therefore, to get the jewellery valued is of utmost importance. Although it’s an easy process, you need to be careful who you choose to weigh and evaluate your ornaments. By getting your jewellery valued, you will receive a document that verifies how the value has been derived along with details like its age, quality and purpose.
Nowadays, an online jewellery valuation is in trend, which is very convenient if you do not have any jewellery stores around you. In fact, some jewellers might give you a rough estimate of the value; however, this will not be exact. We recommend that you get your jewellery valued by a legitimate, trustworthy source to avoid any type of discrepancy when selling it later.
All in all, jewellery selling can be an enriching experience and also a fantastic way to connect to the heterogeneity of people while making a profit. All you need is to connect with the prospect buyer well, understand their requirements according to the budget, and you have landed a sale with flying colours.
The person buying the jewellery will want to verify that you’re a trustworthy person and that you won’t cheat on them, so build that trust and leap out to clarify any doubts that they may have. You should also make an informed decision after knowing the market at the time of the intended sale. Have the piece valued, insured — and know where to sell that priceless possession that you’ve held for years.