Jewellery is not only something you to wear to look pretty but a tool for safer investment and savings as well. You may want to replace your old fashioned jewellery with the latest designer pieces, or can even cash them out for any financial emergency. But before you move out for selling your unwanted jewellery, you should know the worth of your them and where to sell the same.
Reasons for not selling unwanted jewellery
Some people get confused as they don’t know what precautions to take or things to consider while selling their jewellery or probably they have been deceived by some dishonest buyers. Here are some reasons why people may not feel comfortable to sell unwanted jewellery:
- Worried about getting manipulated by the buyers
- Don’t have enough time for verifying the market price and negotiating the same with the buyers
- Don’t get the desired price
- Consider jewellery a mean of investment and don’t want to sell it off until a real emergency comes
Tips on how to sell unwanted jewellery
Given below are some tips to help you get the best price for your unwanted jewellery
1. Know the actual value
Before selling your valuables, it is very important you know the current market price of the precious metal and stone it’s made of. The jewellery which you want to sell may be very old that has been passed down from the forefathers or from the antique collections that can worth more than the bare value of gold or diamonds. So, go to a professional jeweller to get your jewellery assessed and valued.
Another important point to note, check the condition of your jewellery. Old jewellery tends to get scratches and prongs. This may reduce the price than its real worth.
2. Go to your trusted jeweller to discuss the sale
Go to your old family jewellers or a professional valuer who mainly deals with the business of gold, diamonds and other precious metals and stones. They are the most trusted person with whom you can discuss to sell unwanted jewellery. Avoid the mediators and rely on direct discussion with the jeweller or valuer to get the accurate details. This will help to maximize the value of your jewellery.
3. Select where to sell your unwanted jewellery
Going to pawnshops and jewellers has an advantage that you will get the money faster as they treat you as a potential client. Jewellers will be able to give you more information about your metal and its price.
Selling unwanted jewellery is a bit risky but you have to take precautions for that. You can manage it either setting up an online auction or by giving advertisements. Transactions can be complicated and improper communication may create trouble, but both the buyer and seller have to maintain enough transparency to proceed with the deal successfully. Most of the time the unknowledgeable sellers get frauded by the crooked buyers, so you need to be knowledgeable and aware while selling your metal online.
Keep in mind to ask these questions to the online buyers:
- How long it will take them to make a decision on the offer?
- In case they are unhappy with the jewellery after receiving, how they are planning to return the same?
- What percentage of the metal value they are willing to pay?
4. Negotiate for the best price
Pawnshops and jewellers always start the price from the lowest possible end. That means that they are ready for the negotiation, and can go higher than their initial offer. But it depends on how good a negotiator you are, and you have to be firm at what amount you want to sell your jewellery.
Lastly, don’t be rigid on a predetermined price you might have fixed in your mind already. In case there’s a little difference between your expectation and the buyer’s offer, it will be wise to accept the deal. Although it’s always suggested that you never let the buyer get an idea of your urgency to sell the jewellery as that will give her or him an upper hand in the negotiation process, and there will be a slim chance of you getting the justified price for your valuable possessions.