Where to Sell Jewelry

Whether you are looking to make a little extra money or just want to clear out your cabinet of old jewelry, you have multiple options when it comes to selling precious metals and jewels. Not all locations buying jewelry are created equal, so researching what is right for you is essential, as the difference between the different facilities is often several hundred, if not several thousand dollars. This makes researching the overall value of your jewelry, and the available selling options, all the more worth while. Thankfully, you don't need to go about doing this on your own, as this simple to follow guide should point you on the path towards greater rewards when you sell jewelry.

For starters, you need to know a rough estimate as to the value of your jewelry. This doesn't necessarily mean the price you paid for it, as nobody pays face value for used jewelry (or anything else, by that matter). For starters, check the current trading price for gold, platinum and silver, and have your jewelry weighed in grams. This gives you a good estimate as to at least how much the metal is worth. Local jewelry buyers should possess the capabilities of giving you this information, plus the value of any jewels, giving an estimate figure to the true value.

Once you have the estimated value of the jewelry, it is time to decide the best method to sell jewelry. To obtain the overall best price for everything, your best bet is to go with an auction. From online sites such as eBay to in person auctions held at auction houses, you'll probably receive the best return when you sell jewelry here. However, there are some problems with this. Websites such as eBay have large listings of similar products, and the jewelry may lay dormant, without any bids, for an extended period of time, unless you're willing to greatly reduce the asking price. As for in house auctions, should only a few individuals decide to bid on the jewelry, you may be disappointed with the final selling price (although, if the demand is high, especially if your jewelry is rare, the final selling price may end up higher than the set value).

If you want a more immediate return when you sell jewelry, stop by local jewelry stores in the area. Some of these locations do purchase jewelry and sell pieces as a whole. You might want to call ahead though, as others buy the jewelry for the material. Selling the jewelry as a whole is far more profitable than simply melting it down, especially when you have a desired brand, such as Tiffany's or Harry Winston. Even as second hand, buyers are willing to pay greater prices for these. Locations looking to melt down the jewelry should always serve as a last resort.

Should no other facility want to buy the jewelry as intact pieces, your only other option is to sell it as 'scrap metal,' where it is melted down. Before doing this, it is vital to know the current trading value of the metal. The "We Buy Gold" facility or local jewelry stores weigh the piece, then give you a price. Entering the store knowing the current value, and you'll have better negotiation tactics to receiver a higher offer. The facility will try to low ball you, but stand your ground, and if you don't receive a suitable offer, leave and look for another location. Chances are, there are a number of jewelry stores and "We Buy Gold" locations scattered throughout your area, one of which will provide an adequate offer.