While jewellery items are often sentimental possessions, it’s not always the case, and just like fashion, jewellery trends will come and go, or tastes and loyalties change.
Selling your jewellery is often a better option than letting it collect dust at the back of a drawer! It could be that you simply want to make some cash, want to make way for some new pieces to wear, or find that you’re no longer as emotionally attached to the jewellery as you once were. Whatever your reason for selling your jewellery, as long as you feel confident that it’s the right reason and the right time for you to give your jewellery a new lease on life, there’s no need to feel guilty.
But how do you go about selling your jewellery? After all, you want to know that you’re getting the right price for your once-treasured bling. A search online can be a little overwhelming, with scores of businesses offering to take unwanted gold, diamonds, watches and other jewellery off your hands, either to re-sell or to melt down. It’s hardly surprising that this might make you feel wary. Are they really giving you the best price, or taking advantage of an opportunity?
It is definitely a situation where a bit of research and self-educating won’t go astray. Here are our ideas on where to get started:
1. DIY
Thanks to the wonders of our online world, selling your jewellery yourself is now a much easier process than it once way. Online stores such as Trademe, Gumtree, and Ebay allow you to make your own listing. The good thing about this option is that you can set your own price expectations, and you’ll receive the full re-sale value (minus any fees) straight into your bank account, by cutting out the middleman.
2. Second-hand stores
Second-hand stores are another option where you’ll generally have a good chance of selling your jewellery. The benefit is that you can go straight in, drop off your jewellery, and walk out the door with cash in your hand – job done. They will buy it off you straight out, then re-sell the item in their store.
3. Pawn shops
Pawn shops work like a collateral loan. You can take your items in, in return for a monetary loan, and the pawn shop essentially holds your items. You can either pay back your loan, or if you prefer, you can elect for your items to simply be sold at a value price to retail customers.
4. Jewellery buyers
As mentioned, there are myriad businesses who are seeking to purchase unwanted jewellery. Generally, their intention is to melt down the metal so that it can be re-used for something else. Do your research to ensure you seek out a reputable business. How long have they been operating? Are there any complaints against them?
5. Create something new
Jewellery is something that we can treasure and is often passed down through generations. However, fashion and tastes can change dramatically over the decades, so while something may hold great sentimental value, the chances of you wearing your great-grandmother’s brooch are not always that high. Instead of parting ways with precious pieces, consider getting them remade into something else that you’ll love to wear. Contact a jeweller and discuss your options with them. Sometimes it’s a matter of re-setting some stones, transforming a ring into earrings, or completely melting down the metal and starting something new. That way you can hold onto those old treasured pieces, but make them more practical or wearable.
For all of these options, it’s really important to get your pieces professionally valued first. Firstly so that you don’t set the price too low for yourself, but secondly so that you also set a price that is realistic in the market. Remember that some items may be worth more sold as they are, rather than melted down.
Don’t make any rash decisions when it comes to selling your jewellery. To save any heartbreak, if you’ve had family heirlooms gifted to you, make sure you check their value – monetary or sentimental – with other family members or loved ones before you get rid of them.
Have you had your own experiences selling jewellery? Share them in the comments section below.
