How to Sell Estate Jewelry
Interested in selling estate jewelry? Here are some tips to help you find the best estate jewelry buyer in your area and compare your options.
Estate jewelry is basically any jewelry that's been owned before and may include an antique piece that's been handed down or an engagement or wedding ring. A common misconception is that estate jewelry is old, but this is not necessarily the case; it may be over 100 years old or 2 years old and it can include jewelry from a specific time period, such as the Art Deco era. Selling estate jewelry can be a bit tough because you may not necessarily get the most money by selling the piece for its scrap value. In many cases, estate jewelry is worth more in its current condition rather than melted down for the platinum or gold value.
Image credit: one tiny spark at Flickr
That's why you'll usually get more money when you take these pieces to a dedicated estate jewelry buyer instead of a gold buyer who will just give you a certain amount of the item's scrap value.
So, what is the best way to go about selling estate jewelry? Here's a look at what determines the value and how to find a good estate jewelry buyer in Miami or any other city.
What Determines Price?
Want to sell estate jewelry for the most money? The first thing you should do is learn as much as you can about the piece. Many things determine the value of a ring, chain or brooch, including:
- The style, as jewelry buyers are looking for something that's either in fashion or from a desirable time period,
- The condition, as chipped stones will detract value,
- The metal, which may be platinum, gold or silver, and
- The gemstones, as the cut, type and quality will greatly affect price.
Locating Estate Jewelry Buyers Near You
Once you've learned as much as you can about your jewelry, it's time to find a buyer that wants to buy your jewelry in its current condition, not just for scrap. These buyers will give you a higher price because they aren't interested in melting down your jewelry. Instead, they'll see its true worth and find out if your jewelry is worth more as an antique or whole piece. Estate jewelry buyers operate by selling your jewelry to other people who want to wear it, not by melting it down.
It seems there are endless ways to sell jewelry today, including online auctions, newspaper ads, pawn shops, auctions, jewelry shops and estate jewelry buyers. Here are some pros and cons of each option you'll want to keep in mind.
Auctions are definitely a wonderful option to sell jewelry, although they come with fees, commissions and, if you're using an online auction site, shipping costs and insurance. All auctions involve risk as there's no guarantee your jewelry will sell. While you may get a very good price -- especially with high-end jewelry -- you may end up waiting months for your jewelry to sell.
Many people also choose to sell estate jewelry by taking out an ad in the newspaper. This will eliminate any commissions you'll need to pay, although this is also risky. Potential buyers will not trust you so you'll want to have documentation to back up your claims about the jewelry, such as a diamond certificate if you want to sell diamond jewelry. Because there is some danger involved, you should always meet with potential buyers in a public place like a bank, where you can store the jewelry in a safety deposit box.
Pawn shops are generally seen as the worst place to sell jewelry because they cannot accurately value your jewelry. While they offer immediate cash, it's not uncommon to get an offer for 10% of your jewelry's scrap value, which is significantly less than its worth as a whole piece if it's valuable. Pawn shops routinely offer low prices to protect profits and any drops in gold prices because they must hold jewelry for 30 days before they can sell it in Florida.
Jewelers pay wholesale prices for their inventory and buy in very large numbers. The main advantage of this option is you'll get more than you would at a typical pawn shop, but they will still not give you more than they can pay wholesale.
Estate Jewelry Buyers
A buyer who specializes in estate jewelry will recognize your jewelry's true value and decide if your jewelry is classified as an antique or if it's very desirable, therefore getting you more money. They'll also still make a fair offer if your jewelry is outdated or even broken.
About South Florida Jewelry Buyers
South Florida Jewelry Buyers is a family-owned business founded in 1983 as a wholesaler and manufacturer of fine diamond jewelry and loose diamonds. They offer scheduled appointments with a GIA-certified gemologist and specialize in buying large diamonds. They also offer appraisal services and trade-ins with access to their entire inventory of wholesale jewelry. South Florida Jewelry Buyers is proud to be the best place to sell jewelry in Miami!
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