Are you looking to sell your second hand jewelry online? If you're looking to declutter and get rid of old belongings, there are many ways that it can be done. Some things like jewelry may need a little extra care when choosing how best to sell them. However, selling second hand jewelry online could be a great way to make some extra money.
According to Statista, the global jewelry market was worth about $228 billion in 2020. Clearly, there is a big demand for gold, silver, diamonds, etc. The secondhand jewelry market is booming too.
Although it is only a fraction of the retail jewelry market, the secondhand sector is worth around $24 billion. There is much demand for reclaimed diamonds and vintage jewelry today. Read on for some tips on selling old jewellery.If you're looking for a way to make some extra money, consider selling your old jewelry online. Here's how! Click To Tweet
Why would you want to sell old jewellery?
One of the simplest ways to make money while staying at home is to sell unwanted belongings on the internet. You can sell handbags, electronic gadgets, video games, and other items on Amazon and similar sites.
Jewelry is a little different, though. There is often a sentimental attachment to old jewelry, but it might be the right time to part with certain pieces for some.
For instance, when engagements or marriages fail, you may not want the rings. You might have fallen out of love with some jewelry items and wish to sell them so you can buy something different. Or, you may simply need the money.
What should you avoid doing when you sell unwanted jewellery?
As previously mentioned, selling items online can be simple and fruitful. However, selling precious metals and gems is a little different.
One of the most common mistakes is to search ‘sell diamonds near me' when trying to find buyers for jewelry. This isn't because you can't trust all the buyers in your vicinity, but because you should cast your net wider when selling second hand jewelry online.
The internet has opened up the world to eCommerce, and now someone in the UK can easily order a product from Asia or the USA with a few clicks of the mouse and a credit card.
If this is the case, why restrict yourself to only local dealers when you could get a much higher quotation from others.
Should you use a pawnshop for a quick jewelry sale?
You have no doubt seen shops advertising that they buy gold for cash. Pawnshops are very common today, and they will buy everything from vehicles to jewelry.
According to one report by Digital Journal, the global pawnshop market was worth almost $40 billion. And this figure has increased due to many people's employment during Covid being terminated, according to Digital Journal.
Pawnshops no doubt have their place, but you will never see the full value of your second hand jewelry online from them. This is because they exist to make a quick profit and often have to sit on items for a long time.
What should you be aware of when you sell your jewelry?
To get the most for your jewelry, especially diamonds, you should know several things.
Be realistic about the condition of your jewelry. Has it been cared for, or has it seen better days? Do you have any supporting documentation? This can be very important when it comes to diamonds.
Gold is measured in karats, but diamonds are weighed in carats. And this is just one of what is known as the four c's. These are critical aspects of valuing any diamond.
The four c's are as follows.
The weight of the diamond. The higher the carat, the heavier and larger the stone will be. Although carats contribute to the value of a diamond, they aren't the be-all and end-all. You could have a 2-carat diamond worth more than a 5-carat one, and that is because of the other three c's.
This is measured on a grade that runs from colorless to yellow. The lighter the color of the diamond, the more desired it will be, and it will be more valuable.
This refers to any inclusions or flaws that the diamond may have. This is also graded on a scale, with flawless being the most desired but also the rarest of ratings.
This can also be known as the shape. Typically diamonds are cut into around 10 or 12 popular shapes, and some are more popular than others. This can also make a difference in the value of a diamond.
How do you determine the best place to sell second hand jewelry online?
While there may be a buyer in your vicinity, it is good to search further and look for a dealer with a good reputation.
If you wanted to choose the perfect piece of jewelry for your loved ones, you would look for reputable dealers, so the same should be done when selling. Why settle for the closest pawn shop when a dealer is willing to give you a valuation far closer to the genuine price?
Remember, anyone buying your ring will be looking to gain a profit, so you will never get the total market value. However, choosing a dealer wisely can get you a better offer. Please don't settle for the first quote either; ask for valuations from several dealers as you will find their offers vary wildly.
Some places that buy your second hand jewelry online will give you an initial quote that you can accept or decline. If you accurately describe everything about the jewelry, you will receive your check shortly after.
So, there you have it! Everything you need to know about how to sell your second hand jewelry online.
If you have come to terms with parting with a sentimental piece of jewelry or want to clear out some unwanted pieces, then searching for a reputable dealer is the best option. The gold and diamonds you may own are worth real money, and pawning them off to a pawn shop could be a costly mistake. Specialists online could provide you with considerably more money.
With a bit of hard work and some luck, we’re sure that you will be able to find a new home for all of your unwanted jewelry in no time at all. Good luck!
This is such a detailed and informative post, thanks for sharing! I have never sold any jewelry before, but it always good to know as much as you can about it. I may have to do it someday.
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Thank you for your interest, and for taking the time to read our post! We hope you’ll find it helpful should you decide to sell your second hand jewelry online someday.