Are you thinking of parting with some of your fine jewelry? If you have decided to do so, and want to be paid a fair price for it, you have some options. Each option has its downfall, as well as its individual bonus. You have to choose what works best for you and your jewelry.
Before you sell to anyone, you have to make sure you really know your jewelry. Know when it was made, or at least what decade it was created. Know the story. Also, you need to get an appraisal on the item. This should be done by a reputable jeweler. You have to do this so that you don’t let the piece go for way too cheap, or misrepresent it in any way. Remember, an insurance appraisal tells you how much it would cost to replace the item in today’s retail market. It isn’t the actual price you should expect to receive for your piece.
Sell to a Jeweler
Jewelers may offer you cash or give you trade in value toward another piece in their shop. Sometimes they can reset the stones from the unwanted piece in a new design for you. If you are selling the old jewelry to get new pieces, these options may be best. However, you really need to have a figure in mind before going into the jeweler’s store. Keep that in the back of your mind when money is being discussed. Also, make sure the piece you may potentially buy is not just more expensive to cover the cost of the trade-in. One other tip: if you want to do a trade-in, you might want to go to the jeweler you originally purchased the trade-in piece from. They may offer a little better deal and they will certainly want to keep your business returning to their store, year after year.
Sell via an Auction House
We’ve all heard about auction houses. These are the traditional means of showing of bigger or more important jewelry pieces. They publish fancy catalogs and hold live auctions. Large auction houses hire very experienced department chairs that can tell you a realistic expected figure for your piece. The auction set-up can really work to your favor, if you have several buyers that get into a bidding war.
You will pay extra for production, if included in a catalog. Then you will have to wait until the actual auction takes place. This process can take a long time. You will also pay more commission for the larger houses. You have to make sure that your jewelry is appropriate for the audience the auction house attracts. To do so, email a digital picture and give as much detailed, reliable information as you have about the piece. Include any appraisals and certificates.