Should You Have Your Jewelry Repaired Before Selling It?

This all depends on who you’re selling it to. You would think it would be simple, right? If your jewelry has noticeable damage, it's generally a good idea to have it repaired before selling it, as a piece in good condition will likely fetch a significantly higher price compared to a damaged one,

Right?

Well, always consider the cost of repairs compared to the potential increase in value before making a decision. If you’re selling to a private party at an auction site or through classifieds or a social media marketplace, you very likely need to have it repaired. If you’re selling to a pawn shop, broken jewelry will likely only be purchased for the materials. If you’re selling to a jeweler, the repair might not be necessary.

Some things to consider:

Increased selling price: A repaired piece will typically sell for more than a damaged one, especially if the damage is significant. That doesn’t mean it will sell for enough to justify the repair cost, especially if you’re selling to a wholesale buyer. In addition, in some cases (like with chains) it may be only the value of the precious considered whether or not it's repaired.

Cost of repairs: Make sure the cost of repairs is not too high relative to the potential increase in value. If you have to spend a hundred dollars to get a sale price of a hundred and five dollars more, does it make sense? Worse, what if the increase in sale price doesn’t cover the cost of repairs? 

Severity of damage: Minor scratches or tarnish might not require repair, but broken prongs, bent bands, or missing stones should be addressed if you’re selling retail. Just remember, jewelers usually factor in repair costs, so you may gain nothing by repairing ahead of time.  

Before selling, do these things.

• Consult a jeweler: Get an estimate for the cost of repairs to see if it's worth fixing. 

• Clean and polish: Even if not damaged, cleaning and polishing your jewelry can improve its appearance and potential selling price. 

• Consider sentimental value: If a piece is particularly sentimental, repairing it might be worth it even if the cost is relatively high. It may also keep you from selling it at all because you want to keep something special to you.

I hope these tips help, and as always, if you’re looking for a jewelry buyer in San Diego, I hope you’ll give me a call. I can promise you that you’ll be glad you did.

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