Mark Maglin, Gemologist

How To Sell Gold & Diamond Jewelry

Everyone has their own personal reasons for wanting to sell their jewelry. Maybe you just don't wear it anymore, or it’s connected to a bad memory. Maybe you could just use the extra cash. The options available when deciding to sell your jewelry can be confusing at best and a nightmare at worst. Everyone seems to have a horror story about the time they tried to sell an engagement ring. At the end of the day, most of us would like to get the fair value of our jewelry if we sell it. Others of us attach certain unpleasant feelings to a piece and just want rid of it. Regardless of your motivation, here’s a few suggestions you might employ if you decided to part with your jewelry.

Selling to an Individual

The first way is to find yourself an individual that likes it and has money to spend on it. This type of buyer/seller relationship can occur anywhere, but usually social media plays some part. Facebook has become the way most of us communicate with each other, only with Facebook you can ask two hundred friends simultaneously if they’d be interested. Not to mention that you are much more likely to get something near the actual value if you are dealing with someone you know.

Jewelry Traders

A second way to sell your unwanted items is to sell them to someone in the jewelry trading business. There are companies that sponsor “jewelry parties” usually hosted by someone you know. You attend the party, have a few drinks and there is someone at the party who gives the owner their opinion of the value, and offers to pay you cash on the spot. These popped up about twelve years ago when gold and silver prices went through the roof. Be aware, these parties may be fun, but don’t expect a good deal. The transaction will be pleasant and very quick.

Jewelers and Gem Experts

Another way to divest yourself of your rings, bracelets, etc., is to sell it to a jeweler. Especially if you have gemstones to sell you will find many locally owned jewelry stores that will make you an offer. However, not so much with gold and silver purchases. A gem expert will take a look at your stone and again, then make you an offer based on their experience.

Many pawnshops will also offer to buy jewelry. However, the big difference between a pawnbroker and a jeweler is the expertise. That’s why the jeweler’s primary interest will be the stone, not the setting.

The Value Of An Appraisel

Gold and silver are commodities, whereas a precious stone’s value will vary wildly from one to the next. Therefore, if you are selling a gemstone you might want to have it appraised before selling. There really is no need to appraise a gold or silver item as the value will typically be available online using that day’s commodity market price!

Contact Gembyr Today!

If you have old or broken jewelry to sell, our team can help! We’ll offer you the best rates at the fairest possible cost for all of your old and broken jewelry items. If you have damaged jewlery, diamonds, or gold accessories, contact Mark today for a free consultation or appraisal you can also contact Mark by email or calling today at 1-603-828-1144.