How and where to sell unwanted jewelry, without getting scammed (2024)

If your jewelry box is a tangle of bling you no longer wear, you may be able to turn those baubles into a car payment, a vacation, a bathroom remodel — whatever you value.

To get the most out of your unwanted jewelry, you need to know what the jewelry is worth and where you should sell it. You also need to know yourself. “How much effort do you want to put into selling your jewelry?” asked Martin Fuller of Martin Fuller Appraisals in McLean, Va., who is a master gemologist and senior accredited appraiser. “It’s a balance of what your time is worth and what you might recoup selling your jewelry.”

What is it worth?

To truly know the value of what you are selling, you should get an appraisal by a member of the American Society of Appraisers, the International Society of Appraisers or the National Association of Jewelry Appraisers. Members of all three groups have to adhere to standards and ethics. Appraisals range from $150 to $350 per hour. To give you an idea, a simple diamond ring might take about an hour to appraise, whereas one with multiple diamonds and an elaborate setting might take more than three hours. Some appraisers charge by the item, but under no circ*mstances should an appraiser charge you a percentage of the item’s value.

Some people reason that they can skip the appraisal if they believe their jewelry isn’t worth much. If you are absolutely certain what you have is not valuable, you can go ahead and seek offers for it, but beware. “I have many times taken very expensive jewelry out of a client’s “costume” pile and moved it into their fine jewelry pile,” Fuller said. One time a client brought Fuller a sapphire with an old appraisal attached that claimed it was worth $18,000. Fuller noticed some unusual characteristics under his microscope and recommended advanced testing. Turns out it was a rare, untreated Kashmir sapphire worth nearly half a million dollars!

An appraiser can also tell you whether your jewelry is best sold as-is or for scrap. Some jewelry by well-known designers is more valuable intact.

Once you have your appraisal in hand, keep in mind that you are unlikely to get that price. Appraisals, often conducted for insurance purposes, determine the retail replacement cost of your jewelry, not the resale price. So ask your appraiser whether he or she can give you a resale price estimate as well. With gold jewelry, an appraiser may tell you the “melt” price of your piece, which is the value of the precious metal contained in it. Again, you are unlikely to get this price, because the buyer must factor in his own profit margin and the cost of extracting the gold. Experts say that if you can get 70 to 80 percent of the melt value for your gold, that is a fair price.

Selling online

Use caution if you want to sell your jewelry online. The Better Business Bureau receives a lot of complaints about online buyers who offer lowball prices, fail to return jewelry if you reject their offer, or don’t send payment for your items. I once collaborated with a master gemologist appraiser and sent exactly $350 worth of gold to three different online gold buyers. One offered us $206, another $90 and a third $66. When we rejected these offers, some of the companies then made us better ones. This experiment shows the value of shopping around for the best offer and declining the initial offer. A website called Where2SellGold.com has done similar experiments, with similar results.

If you choose to try an online jewelry or gold buyer, check its reputation with the Better Business Bureau. Also read the fine print of its website so you understand what you’re getting into. Look for things like how much time you have to respond to an offer before the buyer considers it a done deal and how long it will take for the buyer to pay you. Take photos of your jewelry before shipping it. And send it insured with a delivery method that proves the company received it.

Another option is to sell via an online consignment shop. This can work well because individuals typically pay more for jewelry than professionals do. Just make sure any added profit is not eaten up by the commission you must pay. One site that stands out is IDoNowIDon’t, so named because it specializes in diamond rings from broken engagements. What’s nice about this site is that the money and the jewelry are sent to the company for safekeeping. The jewelry is appraised, the money held in escrow. Once IDoNowIDon’t has verified that all is well, the deal goes through. The site charges a 15 percent commission. Other online consignment sites include TheRealReal and SnobSwap , both of which say authenticity is guaranteed.

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Selling in person

Selling your jewelry in person to a local shop may still be the best way to get the most money out of it. Here, too, you have lots of options, including coin shops, pawnshops, consignment shops and jewelers. The American Gem Society provides a list of local jewelers who buy jewelry. For example, in the Washington area, W.R. Chance Diamond Jewelers and Nelson Coleman Jewelers in Maryland advertise that they buy gold and other jewelry.

No matter which type of store you choose, you should get at least three estimates — and more for high-value items. “Get offers in writing,” Fuller said. “Then you will get a sense of what the market is willing to pay. Tell them you are required to get at least three offers for the family, so they will know they must put their best offer on paper.”

There’s one final option: Your appraiser may be willing to act as a broker and help you sell your jewelry. Or he or she may be able to refer you to a broker. Look for someone with years of experience and deep connections that will bring you buyers. Some brokers charge a flat fee. Others charge 10 to 60 percent of the sales price, depending on how much work is involved.

Elisabeth Leamy is a 13-time Emmy winner and 25-year consumer advocate for programs such as “Good Morning America” and “The Dr. Oz Show.” Connect with her at leamy.com and @ElisabethLeamy.

How and where to sell unwanted jewelry, without getting scammed (2024)

FAQs

How and where to sell unwanted jewelry, without getting scammed? ›

Take photos of your jewelry before shipping it. And send it insured with a delivery method that proves the company received it. Another option is to sell via an online consignment shop. This can work well because individuals typically pay more for jewelry than professionals do.

How do I sell my jewelry without getting scammed? ›

Take photos of your jewelry before shipping it. And send it insured with a delivery method that proves the company received it. Another option is to sell via an online consignment shop. This can work well because individuals typically pay more for jewelry than professionals do.

How do I get rid of unwanted jewelry? ›

3 Best Options For Getting Rid Of Used Jewelry
  1. 1) Sell Your Used Jewelry. If you have no attachment to a piece and just want to get cash for it, your best option is to sell it to a local jeweler or a pawnshop. ...
  2. 2) Trade It In For Credit Towards Another Purchase. ...
  3. 3) Remount Stones Into A New Piece.

How do I get the most money from selling jewelry? ›

These are the common ways to resell fine gold, diamond, gemstone and other jewelry:
  1. Local jewelry store.
  2. Local cash for gold store.
  3. Pawn shop.
  4. Auction houses.
  5. Consignment shop.
  6. eBay, Etsy, TheRealReal, Facebook Marketplace, among other online marketplaces.
  7. Professional jewelry buyers online.
Jul 30, 2022

Is it safe to sell jewelry on Craigslist? ›

Even meeting in a public place to conduct the transaction can be risky. Your safety should always be a number one priority, so always avoid selling your jewelry through Craigslist.

How do I find out how much my jewelry is worth? ›

We recommend taking the piece to a jeweler to be tested. They will have professional tests that will determine whether your jewelry is real as well as the purity of the metal itself. A certified appraiser will be able to provide the value of the piece as well.

Is it safe to sell jewelry online? ›

The bottom line is that it is completely safe to sell jewelry online. As long as you work with a reputable and trustworthy buyer. Whether you are selling a diamond ring, a vintage jewelry or a Rolex, always check the credentials of the buyer. Do you have other questions about selling jewelry online?

What is jewelry that Cannot be taken off? ›

Permanent jewelry, simply put, is jewelry you can't take off. It mostly comes in the form of a metal bracelet. It has ends welded together instead of a clasp, so you don't have any means to take it off easily.

Does vinegar dissolve jewelry? ›

The acid in the vinegar can damage these delicate stones, leaving your jewelry looking less than its best. If you have gold jewelry with stones and want to give it a good cleaning, use a mild soap and water instead.

What is the easiest jewelry to sell? ›

Top Jewelry Ideas to Make and Sell
  1. DIY Morse Code Bracelets. Morse code bracelets include beads or charms that spell out various messages in morse code. ...
  2. Rosy Dangling Earrings. ...
  3. Woven Yarn Bangles. ...
  4. Rope Necklace. ...
  5. Customizable Charm Bracelets. ...
  6. Stone Pendants. ...
  7. Beaded Necklaces. ...
  8. Precious Metal Earrings.
Sep 26, 2022

What is the best day to sell jewelry? ›

In the USA, Valentine's Day, Christmas Day, and Mother's Day are the most popular times to sell diamond jewelry. If you want to sell directly to someone else, you want to wait for this time. However, jewelry shops and diamond buyers are always looking to buy diamond jewelry whenever possible.

Is there an app to value jewelry? ›

Diamond Valuer was created to explain the process of valuing a diamond ring to you and give you an estimated value of your ring based on that information.

Is it better to pawn or sell jewelry? ›

While pawn shops tend to offer more money to purchase items outright than to lend against them, it still will only get you about 50% of the value of your jewelry. Even if you need cash in a pinch, there are more lucrative ways to sell and get more out of the value of your jewelry.

How to legally sell jewelry online? ›

Where can I sell jewelry online? You can sell jewelry online from your own store built with a platform like Shopify, on third-party marketplaces like Amazon and eBay, on niche websites like Mercari and Poshmark, and on social media, and via wholesale.

Where is the best place to sell used jewelry online? ›

Best Places to Sell Jewelry Online in 2023
  • Best Overall: Worthy.
  • Best for Low Fees: eBay.
  • Best for Startups: Etsy.
  • Best for Diamonds: WP Diamonds.
  • Best for Customization: Shopify.
  • Best for Consignment: The RealReal.
4 days ago

What does NR mean on jewelry? ›

Oval shaped tag. " NR" is for a production line, not an artist Nancy & Rise also has an oval NR tag. Meriwether Lucas. Jewelry Makers and Marks. Antique Costume Jewelry.

How can I test my jewelry to see if it's real? ›

Apply a few drops of white vinegar to your gold jewelry. Real gold will not change color, but vinegar can cause fake gold items to react and change color.

Can a jewelry store tell you how much a ring is worth? ›

You should not pay for an appraisal; a local jeweler should able to answer your questions free of charge. Even if they only give you an approximate idea of the details of your ring, this information will help a ring buyer provide you with an initial price range.

How can I sell my gold jewelry without getting ripped off? ›

How To Sell Your Gold Without Being Ripped Off
  1. Know the Realities of Selling Gold. Realize that even though gold prices are above $1,800 an ounce, you aren't going to get that. ...
  2. Shop Around. Take your gold to two or three independent appraisers. ...
  3. Keep the Gems Separate. ...
  4. Be Careful of Mail-In Gold Sales.

Should I get my ring appraised before selling? ›

Do I Need an Appraisal or Grading Certificate to Sell My Jewelry? You don't need either an appraisal or grading certificate to sell your jewelry, including your diamonds. In fact, many buyers don't particularly care about the appraisal because of the inherent markup in price which accompanies it.

Is it a good idea to sell jewelry? ›

Resale Value. Generally, when you sell pre-owned fine jewelry, you can expect to get around 20 to 50% of the original purchase price. There are a few exceptions to this range. For example, very rare and highly desirable pieces may fetch a higher price.

Where is the safest place to hide valuables? ›

Just make sure the items you're hiding are in a waterproof container, too. inside a false wall outlet. Make sure it's not a live receptacle or in the way of any electrical wiring. within hollowed-out/removable building components, such as wainscoting, floor panels, door jambs, window sills, and cabinet doors.

What should you not do with jewelry? ›

7 Ways You're Ruining Your Jewelry
  • You Never Take Off Your Wedding Ring. ...
  • You Don't Maintain Your Jewelry. ...
  • You Don't Store It Safely. ...
  • You Don't Clean It Properly. ...
  • You Haven't Insured Your Expensive Jewelry. ...
  • You Touch It Too Often. ...
  • You Rarely Wear Your Pearls.

What jewelry doesn't stick to a magnet? ›

Metals such as silver, gold, titanium, platinum, palladium, stainless steel, zinc, pewter, copper, aluminum, and tungsten are not magnetic.

What is the black stuff that comes off jewelry? ›

Metallic Abrasion:

Metallic abrasion occurs when these hard compounds come in contact with the jewelry metals and wear or rub off very tiny particles of metal which appear as jet black dust.

Can hydrogen peroxide clean fake jewelry? ›

Yes, you can use hydrogen peroxide with baking soda to clean and maintain your fake jewelry.

Does rubbing alcohol clean jewelry? ›

Yes! To clean your jewelry using isopropyl rubbing alcohol, fill a small bowl with it—just enough to fully cover the piece you wish you clean. Leave the jewelry to soak in the bowl for a few minutes. Alcohol dries completely clear on metal surfaces so there is no need to rinse it off with water.

What does baking soda and vinegar do to jewelry? ›

To remove built-up tarnish from your silver, make a thick paste with 1/4 cup baking soda and 2 tablespoons water. Apply with a damp sponge and gently rub, rinse, and buff dry. To polish gold jewelry, cover with a light coating of baking soda, pour a bit of vinegar over it, and rinse clean.

Is there a market for old jewelry? ›

There's a steady market for good vintage jewelry, but tapping into it can be a hit-and-miss process if you're not already in the business. It saves time and stress to go straight to a professional online buyer and get a serious cash offer.

What jewelry piece sells the most? ›

What type of jewelry sells the most? According to the research, women are most inclined to buy earrings, while men like necklaces the most.

Can I sell jewelry on Amazon? ›

Once your application has been approved, you can start selling jewellery on Amazon. But there are a few things to consider when it comes to building your Amazon listing. Here are some of the top tips on selling on Amazon: Title and description – Keep it clear.

Why is diamond resale value so low? ›

That's because the retail price would include brand premiums and business overheads. And when you sell a diamond ring, most buyers don't care about the cost of manufacturing, air-conditioning, salary, insurance or shipping expenses that go into operating a business.

Is now a good time to sell my jewelry? ›

Some of the best times to sell gold are right before Mother's Day, Father's Day, Valentine's Day, and Christmas. You may also be able to get a good price for your gold if you sell it during the summer months, as many people take vacations during this time and may be looking to spend money on jewellery for their trips.

What time of year is jewelry the cheapest? ›

According to Lemick, you're likely to find the best prices on fine jewelry in March, April and early May. Jewelers will have just wrapped up the holiday season and are typically quiet before engagement ring season starts. “September and October, you're hitting it at a downtime,” adds Lemick.

How do I find out how much something is worth? ›

Try sites such as What's It Worth to You, Value My Stuff, and Worth Point. If you're searching for the tax-deductible value of items that have been donated, you can use valuation sites, tax preparation companies (such as Turbo Tax) or the Salvation Army.

How can you tell if a diamond is real? ›

Water Test

If you have a loose diamond to test, fill a regular glass about ¾ of the way full with water. Gently drop the diamond into the glass. If the diamond sinks to the bottom, it's real. If it floats at the surface or just underneath, it's likely a fake.

What type of jewelry sells best at pawn shops? ›

Precious metals are a fantastic item to pawn in any form. Gold, silver, and platinum are always in high demand and can snag you a hefty payout, especially if you decide to pawn or sell at Precious Metals Refinery. Like precious metals, diamonds are one item that seems to never go out of fashion or drop in desirability.

Can pawn shops tell if jewelry is real? ›

Visual Inspection. The first thing the pawn shop will do is a visual inspection. Real gold jewelry will have a stamp indicating the fineness or karat of the gold, anything under 10K isn't considered to be real gold.

What do I need to know before selling jewelry to a pawn shop? ›

Get your jewelry appraised.
  • You can find appraisers and jewelers near you by doing an online search.
  • Remember that a pawn shop won't typically offer the true value of your jewelry, but it's good to get an idea of what it's worth, so you know what to expect at a pawn shop (about 60% to 70% of its true value).

How to photograph jewelry to sell online? ›

The best way to photograph jewelry is to ensure your pieces are lit evenly and consistently. Create your lighting setup at a 45-degree angle to the jewelry. Then set your camera to the correct aperture and take the photo. I recommend using a mirrorless DSLR camera to get the best results.

How do I sell jewelry on Facebook marketplace? ›

In order to post your creations on Marketplace, you'll need to sign up with one of their e-commerce partners like Zentail, Quipt or Salsify and list your designs on their platform. Once that's done, you can import your items to Facebook and create shoppable Marketplace posts.

Is it a good idea to sell jewelry online? ›

The bottom line is that it is completely safe to sell jewelry online. As long as you work with a reputable and trustworthy buyer. Whether you are selling a diamond ring, a vintage jewelry or a Rolex, always check the credentials of the buyer.

How do I know if my costume jewelry is valuable? ›

Examine the Construction. How a piece is made is the ultimate sign of value and quality. Look for clear details, well-decorated elements, sharp lines, crisp figures, even prongs, strong settings, sparkling faux stones, glass, or other high-end materials to value costume jewelry.

What is the best way to sell used jewelry online? ›

Best Places to Sell Jewelry Online in 2023
  1. Best Overall: Worthy.
  2. Best for Low Fees: eBay.
  3. Best for Startups: Etsy.
  4. Best for Diamonds: WP Diamonds.
  5. Best for Customization: Shopify.
  6. Best for Consignment: The RealReal.
4 days ago

Can I sell jewelry on Facebook? ›

Selling on Facebook can not only give your jewelry business the much-needed competitive edge but also keep you visible on a platform where people spend most of their time.

How to start selling jewelry from home? ›

How To Start an Online Jewelry Business In 10 Steps
  1. 1 1. Identify a Market Opportunity.
  2. 2 2. Define Your Target Audience.
  3. 3 3. Make a Business Plan.
  4. 4 4. Make Some Jewelry.
  5. 5 5. Find a Jewelry Manufacturer.
  6. 6 6. Build Your Brand.
  7. 7 7. Select a Price Point for Your Products.
  8. 8 8. Start Marketing.
Mar 6, 2022

What type of jewelry sells best? ›

Top Jewelry Ideas to Make and Sell
  • Silver Accessories. ...
  • Gemstone Rings. ...
  • Ornate Brooches. ...
  • Handmade Watches. ...
  • Clay Earrings. ...
  • Painted Wooden Charms. ...
  • Large Plastic Chains. ...
  • Stacking Rings. Stacking rings are generally simple pieces made of metal or wire.
Sep 26, 2022

Should I sell jewelry to a pawn shop or jeweler? ›

Pound for pound, pawnshops tend to offer better prices when you need to buy or sell jewelry. This is because, unlike jewelers, who focus on maximizing profit at every sale, pawnbrokers are more concerned with keeping their inventory moving.

How much is a 1 carat diamond worth resale? ›

On average, the retail price for one carat diamonds can be anywhere between $2,000 to $16,000, and between $8,000 to $72,000 for two carat diamonds .

Is there an app that tells you if something is valuable? ›

The WorthPoint app lets you price & research items on-the-go from your iPhone and iPad. We help collectors and resellers alike answer two burning questions: what is it, and what's it worth?

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