By far, the way to get the best price if you’re selling your jewelry is selling it to a private party. Of course, this assumes the jewelry is in good shape. If it’s wearable and nice, you can try, though. You’ll have to put in some work, though, which is why for most people, it’s just not an option. Instead, they’re working to get the best price for jewelry while selling it or consigning it to a local jeweler or selling it to a pawn shop.
Let’s take a quick look at the options:
Local Jeweler: Local jewelers may offer the best price when you sell to a dealer because they know the value of jewelry and want to build a customer base. With us (but not with everyone) You get paid the same day. In fact, if you bring jewelry to my showroom and I buy it, you leave with cash right then.
Consignment jeweler: Consignment jewelers sell your jewelry at their establishment for a share of the profits. They will try to sell your jewelry for the most money they can get. In general, they’ll take a commission of 25–40%. It may take a long time to sell your jewelry but someone else is doing the work for you.
Pawn Shop. Pawn shops buy jewelry all of the time, and you will most likely be able to get cash quickly. In general, pawn shops are going to pay less than a jeweler but far more than all of those “we buy gold” shops. Since Pawn shops make most of their money issuing loans, buying jewelry isn’t their primary business. They’re a good choice for fast money but maybe not the most money you can get.
Selling It Yourself Online: Online marketplaces offer a wider range of buyers and there are a lot of options for you. You can sell your jewelry on auction sites, social media, or sites just for the sale of jewelry. You need to be cautious when selling online but in general, you’ll make more than selling it to a dealer. You’ll pay fees usually to auction sites or the payment processors but that’s unlikely to be more than the wholesale discount pawn shops and jewelers will require.
Private Parties Face to Face: If you sell directly to someone, you’re going to get a better price than you would in any other circumstance. In fact, you’ll get much closer to the retail price. You can sell to friends or associates or you might use online classifieds. Just be careful about meeting with anyone and make sure any transactions occur in a public place.
There you go, some ideas for you. In my mind, it really comes down to speed vs. money. If you don’t mind waiting and putting in some effort, you’ll make more. If being done with the process is more important to you, though, I want you to know that Bert Levi Jewelers is committed to making win-win deals with people who sell to us. If you want to sell jewelry in San Diego, give me a call. You’ll be glad you did.
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