What to do when selling your jewelry?

How to get the most you can for your fine dimaond, gold and platinum jewelry?

First and foremost, shop around.  Do not wait till the last second.  Take your time.

Where and how to shop it?

Jewelry is a bit like real estate in that the price one obtains for any particular piece depends quite a bit on finding the right buyer.

Sure condition and popularity count.

So does time.  If you need money fast to pay an impending bill, you can turn your jewelry and gold into fast cash… usually a very very small pile of fast cash.

The most you can hope to do with your jewelry is typically though a private sale to another person interested in exactly the kind of piece you have.  Something like through a craigslist auction.  Still, you probably will not obtain, especially during hard times, anything like what you paid for most items.

Second best option is to take your item to a wholesale broker like myself.  We are hard to find.  If you do not know one, you will probably never find one.

Then there is a fine jewelry store.  Not a chain store like a mall, but the best and biggest single local stores and those with the finest jewelry pieces in your local.  The best deals here are usually if you allow the store to consign and resell or to obtain wholesale quotes.   Otherwise, they may outright buy your item.  Still, shop around, this method can get you anywhere from 80 cents to 10 cents or less on the dollar… SHOP AROUND.  This means you must have the time to wait to shop around.

Next on the list is pawn shops and local we buy gold shops …  Here expect to get 5-50 cents on the dollar.  Less if you don’t shop, generally.  Be prepared to shop in person or to walk or drive away and get additional offers.

Finally, there are the buy by mail mills.   I hear lots and lots of horror stories here.  Seldom more than pennies on the dollar.

Still, phone these mail and internet houses up and shop them.

These mail folks will often talk with you and give you information.  Get as much information as you can and use it.

Gold typically is bought by the gram.  There are 31.1 grams of gold in a troy ounce.

The buyer must buy and make some profit.  They are entitled.  Why else buy, right?

And, sometimes they buy what they thought was gold and is only plated… ouch.  So, they must make some room for this kind of event.

In today’s market, expect little to nothing for any stones except diamonds.  And, not a whole huge amount for any diamonds less than 1/4 carat in size.  And, only will you get good money for diamonds of fine cuts, over 1 carat, with original certificates from certain key certificate issuers.

Good luck shopping your sale!

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