Times are tough and pockets are tight right now, resulting in a lot of people looking to sell their valuable jewelry. Whether it is to help pay the mortgage or because you just don’t have any use for grandma’s bracelet any more, you should take the sale of your jewelry seriously. Here is a brief guide on selling your jewelry and receiving the highest value possible.
Sell Locally: When you sell your jewelry online, you lose some of the service, value, and the ability to receive instant cash. Visit a local jewelry dealer like Levi Family Jewelers and you can be confident you will receive top dollar for your item, immediate cash in your pocket, and that your jewelry will be in good hands.
Make an Appointment: Although you are more than welcome to just show up and request an offer, you are more likely to receive better service and a higher sale price if you set an appointment. An appointment will ensure the appropriate appraiser with the proper expertise will be available to assist you.
Do Your Research: An educated seller will fetch the highest selling price. No matter where you sell your jewelry, do a little research to figure out exactly what you have and what it is worth. You can go as far as getting a professional appraisal, but the price they give you is what the item would cost if purchased brand new today. When you go into a dealer such as Levi Family Jewelers in San Diego, they will give you a firm offer of what they are willing to pay you in cash for it that day. The “offer” is almost always lower than any “appraisal” because you are selling used jewelry and receiving payment instantly.
It’s Okay to Say No Thanks: Many people who are looking to sell their jewelry feel pressured once an offer is on the table. At Levi Family Jewelers, we want to make you feel as comfortable as possible. It is your right to say “no thanks” and walk away. Many times the sentimental value of an item is too much for a person ever to let it go, even if there is a high offer on the table. Walk away and think about it so you can come back another day when you know for sure.
Sellers Beware: All of the advertisements you hear on the radio and see on TV offering “cash for gold” are a waste of your time and jewelry. Although most of the companies will in fact send you back cash for your jewelry, you will likely receive much less than you would if you went to a dealer like Levi Family Jewelers. In addition to receiving less money, all sentimental value will be lost because those companies are melting down the gold. No one wants to see their favorite gold jewelry destroyed, so bring it in to a dealer where it will be refurbished and resold for the art that it is.
Buyers or Sellers Market: The value of your jewelry fluctuates frequently and certain items will fetch a higher sale price down the road, so you might want to wait it out. For example, the value of gold has skyrocketed during the recession and therefore all of your gold jewelry would be worth more than usual if you sold it right now. Precious gems on the other hand have taken a loss this year. It might not be a drastic difference, but if you are looking to sell a two carat diamond, it is a good idea to wait until their value increases again. Another type of jewelry that has slightly lost value lately is designer watches. Rolex is still maintaining popularity but other watches don’t seem to have the demand they used to.
Weighing the Jewelry: Weighing the jewelry sounds like a simple step in the process but do not take this step lightly. A reputable jeweler should weigh jewelry right in front of your eyes and never let it leave your sight. Many people have experiences with dealers that will take it to their scale in the backroom and come back with a lower weight than expected. You shouldn’t lose trust in someone simply because they want to weigh it in the back, but ask if they can bring the scale out or go to a different dealer. You don’t want them to undercut the value of your precious jewelry. Another good tip during the weighing process is to check that the scale being used has been calibrated and verified. Shady jewelers will adjust their scales to show you a lower weight.