Do you feel like it's time to let go of that piece of high-end jewelry you loved so much before? Not to worry, as most people either get bored, want to get a better version of the jewelry, or use selling as a way of letting go.
However, selling high-end jewelry isn't spontaneously happening as it needs much thought. And since preowned jewelry isn't as valuable as new, you probably won't get paid the same amount as buying.
The selling process may require considering different factors, including the jewelry's condition and many others vital in getting the best price as the many jewelry stores in st thomas are doing. As a result, you'll need to acknowledge some tips before selling your high-end pieces of jewelry.
1. Find Details On Your Piece
The condition of your piece and its demand will determine the amount you'll get for your jewelry. Any buyer may need to find the details of the parts they are looking to purchase.
For instance, a high-end jewelry buyer in Orange County will need to know if you're selling an antique or if your piece is just old and out of style. If you're selling jewelry made from diamonds, different metals, and gemstones, you'll need information on the carat weight, clarity grade, and color grade.
You'll also need to know the brand name as luxury designer brands with original boxes and paper will sell for an additional fee. However, if you don't have the appropriate documents, you may need to appraise your jewelry.
An appraisal will give you fair prices determined by market value and the condition of the piece at hand.
2. Find A Realistic Price
You won't get the same amount as the original purchasing price when selling pre-owned jewelry. Most fees usually range from 20% to 50% of the actual cost, with rare pieces fetching a higher amount.
New jewelry is usually twice or thrice the wholesale price as retailers inflate the amount to cover wages, rent, electricity, and many more. In addition, the value depreciates over time, with seen retail markups.
As a result, when reselling, you'll realize that the price will have a considerable dip.
3. Research The Best Ways To Sell
With so many options available, you may get overwhelmed with places to sell your high-end jewelry pieces. Luckily, you can either make your sale online or locally. If you opt for an online sale, you'll be getting an opportunity to reach more people and access a broad market.
However, most of the buyers of fine jewelry may only make a few purchases due to the value attached that may go as high as tens of thousands of dollars. Before finding an online buyer, you should gather inspiration from online stores and learn from them.
Next, find an online platform specializing in the resale of luxury jewelry. Some media such as worthy offer free appraisals, GIA certification, cleans and photographs your items, then list them for free on any piece over USD$50,000.
Alternatively, you can opt for WP diamonds specializing in buying high-end jewelry. This site offers appraisals filming for transparency and insured shipping. However, if you're skeptical about selling online, consider visiting your local jewelry store or a pawnshop that may offer you an excellent price for your jewelry.
4. Repair Broken Jewelry
Jewelry tends to break or get dirty over time while influencing the prices during the reselling process. As a result, it's vital to ensure that the jewelry is well maintained, washed, and fixed before selling it.
Although your piece has any flaw, you may choose to DIY aspects such as cleaning and opt for professional services to restore it. Professional jewelers have the right tools that they'll use to repair your piece to its former glory without adding dents, as precious metals are so soft and prone to damage.
5. Negotiate Before Selling
Before settling on a selling price, it would help to research what'll be the best amount you'll get from your piece. In addition, take your time negotiating and avoid making decisions that you're most comfortable with. Lastly, consider going to jewelers in the morning when people are at their peak with lots of motivation and energy.
Bottom Line
In conclusion, reselling jewelry can be a daunting task. With a few tips, you'll be well on your way to getting the most value out of them. Before committing to sell, find details on your piece that'll let buyers know what they're getting.
Next, set a realistic price that'll reel in buyers without putting you at a loss. Afterward, find ways to sell your piece by choosing an online platform or a local shop. Lastly, repair and wash your jewelry at a professional jewelry store for the maximum value.
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