Have you inherited some jewelry or have you found yourself responsible for turning estate jewelry into liquid cash? Sometimes, it can be difficult to know where to start, right? Well, over the years, I’ve helped a great many people handle their estate sales. The best way to sell estate jewelry depends on several factors, including the type of jewelry, the condition, and your desired level of effort. A good rule of thumb is that you can sell fast for less money or sell slowly for more money.
So, here are some tips. First and foremost, figure out what you have. The materials used are important to value. Remember, in general a gold ring made twenty years ago will be more valuable than a silver ring made a hundred years ago. The gemstones and the precious metal have value that’s intrinsic to them regardless of the shape of the jewelry. The rarity of a piece of jewelry is a key factor in determining its value. Even if the piece isn’t in great condition, it could still be quite valuable if it's rare. Get an appraisal from an expert who can use professional tools and resources to assess the value of the jewelry. Apart from rarity, the materials used will impact the value as well. Depending on when you sell, the design of a piece may make it more or less attractive.
But how do you sell?
First, determine if you want to sell the items to the end users, the people who will either wear the jewelry or give it as gifts. If you want to handle that, then you’ll clean and restore the jewelry to its original condition before selling. You will want to use local marketplaces like online classifieds or social media. This method can take a very long time but will almost always result in more money when the item finally sells.
Alternatives include hiring a company that specializes in estate sales or auctions. This will make your life a great deal easier but will also result in a very substantially smaller amount of money from the sale. You may consider consignment as well. Most of the time, you’ll make more than an auction but it will still be less than selling directly. There will be far less work, though.
Your third option is selling to a dealer like me. The big advantage is that you show up, we strike a deal, and you walk away with cash. You won’t get as much as you’d get selling yourself but you get the money immediately. Choosing the buyer is important. I recommend a pawn shop over a “We Buy Gold” store because pawn shops look at more than the gold content. I recommend a jeweler over any other buyer because a jeweler is far more likely to understand your jewelry’s value.
If you need to sell estate jewelry in San Diego, give me a call. Or just drop by my La Jolla showroom. You’ll be very glad that you did.
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