Many older Americans reach a point in their lives when they are interested in selling some of the gold jewelry and “heirlooms” that they have owned over the years. In some cases these are gifts they no longer wish to own and in others there is a need for cash and the sale of valuables can fulfill this need by visiting some reputable gold buyers.
Also, if you have diamonds to sell, you can check out TRUVAL.com I’ve gone to them before and they seem pretty fair.
There are a number of ways to go forward but there are also a number of things you must do to make sure you are not being taken advantage of. Most of us have seen the ads in newspapers and on TV offering to purchase gold and jewelry. These certainly offer the opportunity for a quick sale; however sellers generally receive a good deal less than actual value.
Depending on the item or items you are interested in selling you can sell them on line via Craigslist, Amazon or eBay. Generally eBay is your best choice for jewelry. Check out which online services work best for what you hope to sell.
If you have not previously sold online the best way to get more information and free training is with a company called Online Auction Learning Center . They provide free training for beginners and then charge individuals who wish additional training.
“If you have a diamond or a valuable piece of jewelry it is probably better to go to a qualified appraiser,” says Murray Rose of Rose Estate Jewelers who has been buying and selling jewelry for over 60 years. “You may have to pay an appraisal fee,” Rose went on to say, “but it is better to deal with someone who makes a living doing appraisals as opposed to the actual buyer of your jewelry or diamond.” Check here for Rose’s tips on selling your jewelry .
If your jewelry is worth less than $1,000 you might consider taking it for evaluation to a pawn broker. You should visit several different stores to get a better idea of the true value. You can also look at the pricing on items similar to yours at pawn brokers and also check the sales prices on eBay. This will give you some idea of value.
Of course there is a huge difference between retail and the price you might get when you sell. Checking value yourself is worthwhile as the more you know the less likely you will be taken advantage of. What you will receive will also depend on how quickly you wish the transaction to take place.
If you are in no hurry you can place your items on consignment at an agreed upon price with the seller making a percentage profit (usually 10%-20% of the sales price). In some cases it could take many months to find the right buyer.
If what you are interested in selling has great value selling online is probably not your best option. Go to a reputable dealer in gems and fine jewelry in your area or in some cases an auction house like Christie’s or Sotheby’s .
If you decide to go to a jeweler, check to see how long they have been in business and if they are members of the Better Business Bureau. You should also Google the store name to see if there have been complaints or problems outside of BBB records.
You might also consider I Do, Now I Don’t . The idea for the site came when the founder, spurned by his fiancée, wanted to get a fair price on the engagement ring that he’d just purchased. This site allows you to sell to other retail buyers or to the site itself.
According to the site owner Mark Yakubov “every diamond and gemstone sold is analyzed by our independent GIA-trained gemologist.” The site charges sellers a fee of 15% of the sale price. Buyers pay for shipping. Typically sellers receive 40%-60% of the retail price for their item.