The Best Way to Sell Platinum Jewelry

If you’ve inherited jewelry, you may have found yourself in an interesting situation. While just about any pawn shop will buy yellow gold, rose gold, white gold, and even silver; not everyone is ready to buy platinum. You’re very unlikely to get anywhere with the “We Buy Gold” stores. You’re also going to discover that some jewelers are hesitant to buy platinum.

So, what do you do?

The best way to sell platinum jewelry depends on your goals and preferences. Are you selling just to get money? Are you selling in order to get new jewelry? Are you selling for yourself or for an estate? All of these questions will influence your decision making, and your decision making really comes down to the relationship between time and money. When you’re selling any jewelry, the longer you can wait for your money; the more money you’ll get. It doesn’t matter what kind of jewelry it is but when it comes to platinum, it’s especially true and probably more clearly obvious. While platinum is far rarer than gold, gold is far more stable.

That makes gold more accessible to most and therefore, a surer bet. People buy platinum but they correctly assume volatility in the market… That translates to less money for you.

Unless you take your time.

Private buyer. Some say this is the best and safest option to get the most money for your platinum. If you have the time to wait for it, there’s really no question. A private buyer will expect a small discount to retail on your platinum jewelry but you’ll get the highest price from them. It will also take longer and will require the greatest amount of effort. You can sell your jewelry on popular platforms like eBay or Craigslist, but you'll need to do most of the work for it and you want to follow all the safety guidelines the sites offer.

Consignment jeweler. A consignment jeweler sells your jewelry for you. They provide the storefront, the customers, and the effort. Far less effort is involved than if you handle the sale directly but they take a hefty chunk of change from the profits. In addition, they aren’t necessarily able to do much to sell your particular item over any other. Make sure you understand what they’ll do and how long a commitment you’re making.  

Jewelry buyer.

These buyers specialize in buying used jewelry and metal and are knowledgeable about the current market value. They are very likely also jewelers but not every jeweler is a jewelry buyer. Look for one with a license and a good reputation. A good jewelry buyer will help you understand what platinum market trends and pricing fluctuations are in play and how they affect your options. 

If you have platinum jewelry to sell, I’d like to help. Give me a call or just stop by our La Jolla showroom. I can promise you that you’ll be very happy that you did.

More information you may find helpful…

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