If you own an expensive piece of jewelry then you don’t need to worry about those quick cash requirements as to sell expensive jewelry can be easily sold to fill the current void of cash. This is the main reason why so many people love to invest in jewelry in addition to using them to flaunt in parties and other occasion. It might be true that an expensive piece of jewelry can give you a lot of money but at the same time, you will have to make the right decision for making the most of your jewelry deal.
There are many evil-minded people out there who are always ready to increase their profit margin on jewelry deals and if you are not aware of the basics of your jewelry then you can be easily lured into a bad deal.
From the stones used in the jewelry to the current price of gold and diamond in the market, there are many factors that play a crucial role in the current value of your jewelry and this is why, in this blog post, we will guide you through the right process of making the most your jewelry deal.
Here are the top 3 places where you can sell your expensive jewelry
- Local jewelry store
- Pawn shop
- Online jewelry buyers
Now, let’s look at what these three places have to offer you in exchange for your expensive jewelry.
This is the first place that might pop up in your mind when you plan to sell jewelry but this might not be the best place. Pawn shops have to always maintain a moving inventory and therefore, they are not going to give you the best price for your jewelry and if they do, they won’t be able to make a profit from it by selling it to the next person.
The only way pawn shops make a profit is by buying items at cheap prices and the same can be said about your jewelry as well. In addition to this, the state and local regulations along with the overhead cost force the pawn shops to buy your jewelry between 30%-60% of its actual value, and anyway, you are going to suffer a huge loss in this deal.
Local jewelry shops
Local jewelry shops might be another option to sell jewelry but they also come with a long list of disadvantages. All the jewelry shops buy wholesale and then they mark their products up around 100%. And if the shop has a big national chain then might be spending a lot of money on advertising and they might be passing all these expenses to the customers.
This means, that you are never going to get the best price for your jewelry if you decide to sell it to a jewelry shop. In addition to this, you can never be sure about the certification and eligibility of the person valuing your jewelry and therefore, you can even be scammed. In such a case, you have no other option than to settle on a low price than what you could have received.
If you are planning to sell jewelry and get the best price without falling for any kind of scam then the internet is the best platform for you. But we are not talking about a stranger on Facebook asking for your jewelry, we are talking about certified online buyers.
You just have to ask the online buyer for an initial quote and they will give it to you for free. If you are satisfied with the initial quote then you can send your jewelry for evaluation and you don’t have to worry about it since your jewelry will be insured from the buyer side throughout the process.
After evaluation, you will offer the final price of the jewelry and if you have the authority to either accept the price or ask them to return your item. Upon acceptance, the agreed money will be transferred to your account.
This is the best way to sell your jewelry because your jewelry is valued by certified professionals and they use standard methods for this process. So, while selling jewelry online, you can be sure that you are not being scammed and at the same time, getting the best price for your product.
There are many jewelry buyers online and you should do proper research to find the best jewelry buyer on the digital platform. You can ask for multiple quotes from different buyers and filter down the options to choose the best one.
There is no rocket science behind getting the best price when planning to sell expensive jewelry as all that you need to do is understand the basics of your jewelry and then choose the online platform for selling your jewelry to certified buyers.