If your jewelry box is full of forgotten blings, your bedroom might be hiding your untapped riches. Selling the unwanted contents of your treasure chest can fund your next kitchen renovation, roof replacement, or trip to Europe.
However, trading the jewelry that you no longer wear for money is one thing and getting the most cash out of it is another. Usually, the value that you can gain from your pieces will depend on how much time and effort you’re willing to put into the process. To avoid undervaluing your jewelry, keep these things in mind:
Get an Appraisal
In Salt Lake City, it pays to seek the service of a professional appraiser such as AAA Jewelers. You might have good taste in exquisite gemstones and authentic precious metals, but you don’t have the trained eye judge the worth of your items. Plus, a master gemologist appraiser invests in advanced equipment and stays current in the latest methods to evaluate jewelry accurately. Only an experienced pro can identify the striking characteristics that separate baubles from truly valuable pieces.
Hiring a qualified appraiser isn’t free, but forgoing the guidance of one can cost you from tens of thousands to over a million dollars. In addition, you can get expert advice on the most viable means to sell your jewelry. This way, you will know when to offer your items for scrap or in “as is” condition.
Don’t Confuse Retail Price With Resale Price
Generally, the value that an appraiser will say pertains to the retail price, not the resale price. Since your buyer is likely to sell again to turn a profit, you can’t demand to be paid based on your item’s market value.
Ask your appraiser to give a fair resale price estimate to help set your expectations. Some pieces of jewelry involve certain costs. For instance, gold costs money to extract from the object. The percentage that you can pocket from your jewelry value can vary from item to item.
Consult the Better Business Bureau
When dealing with an online buyer, research the business’s history through the Better Business Bureau. The website tells you whether the organization accredits the company in the first place. A business’s profile usually includes reviews, positive and negative ones, from legitimate customers, giving you an idea of a company’s brand of service.
Even if the most reputable jewelry buyers find themselves in the middle of disputes sometimes, so it’s not fair or reasonable to search for perfection. Learn how your prospective buyer handles misunderstandings and irons problems out before initiating a transaction.
Ask for Written Offers
Speaking to one buyer doesn’t provide you with enough information about the most money you can take home. Get multiple offers to gauge how much the market is willing to pay for your item. The higher your jewelry’s value, the more bids you should get. Also, make sure that all of your offers are in writing for future reference. That way, you can practically lock in the resale prices that you receive.
Nothing is more satisfying than selling your unwanted jewelry for a ton of cash. If you play your cards right, you can make the most money without losing anything of great use to you.