I love how collecting fine jewelry has become more popular over the last few years, as it was something I’ve been preaching since starting my blog in 2008. I really wanted to influence everyone to stop buying costume jewelry, silver jewelry, and anything gold-plated as I believe they are a huge waste of money. Pieces like that will eventually tarnish, break or become a part of a junk pile, and when you’re ready to get rid of them there’s no demand for items like that, so you basically end up donating them or throwing them out.
Fine gold jewelry, or karat gold jewelry (anything 10k, 14k, 18k and up) on the other hand is an investment that stands the test of time. These pieces last forever if you take care of them and always have an inherit value to them since gold is a commodity. Unlike fiat currencies, which derive their value from government regulation, gold has intrinsic value. Its value is not dependent on the success or stability of any particular government or economy, and you can buy/sell it at any time.
With that said, I know there are a lot of people out there that have been collecting jewelry for a long time, even those who have been at it for just a couple years, and are asking me for advice on where to sell pieces they just don’t want anymore. Whether the style isn’t something you like as you once did, or a piece isn’t as comfortable as what you thought it was when you bought it…selling a piece of jewelry comes with many reasons and luckily if you invested in a karat gold piece, you will be able to get some of your money back when you go to sell.
So what are my top places to go to sell your unwanted jewelry? Here’s what I recommend:
I’ve used both many times – I like the ease of this option, however the compensation and cut that both companies take is sometimes not worth it, especially if your item is under $1000. I recently sold several items to TheRealReal and I didn’t like how they never asked if I was ok with the prices they put on my items – they just automatically went live and I wasn’t able to dispute them or ask if they could change them.
2 – Try selling yourself on eBay or Poshmark
A big drawback of this option is having to do everything yourself, including taking the photos, writing a description, coming up with a price and then handling the transaction. It can be overwhelming if it is your first time or if you have no experience reselling items. However, you are the one that sets all the rules with pricing and you also don’t have to share any of your profits (typically just a small percentage for a fee).
3 – Try consigning with an auction house
I love consigning with an auction house to sell pieces that are really special – generally my rule of thumb is any item that is over $3k, but this will obviously vary person to person. I’ve had awesome experiences with Hindman, Leland Little, Brunk and Skinner.
Reasons why I prefer an auction house is because they almost always have a GIA Graduate Gemologist on staff who can accurately identify your jewelry, they do this all day everyday so putting a value on your item reflects the current market. Auction houses put a lot of effort into photographing your piece, marketing the sale and drawing bidders because they want the maximum bid possible.
Some drawbacks to consigning at auction are again the commission, so I recommend shopping around and finding what you feel is best for your circumstance. And lastly, the final bid is never certain – so it is essentially a risk/gamble to take, which can actually be rewarding or on the other hand, can cost you!
4 – Try an online gold buying company, like CashforGoldUSA
Businesses like CashforGoldUSA are able to give high offers since they are so competitive and work in high volume. CashforGoldUSA will send back your item immediately, 100% free, if you choose not to sell after receiving their offer, which is one aspect that really stands out to me. They have an A+ Better Business Bureau rating and you can complete the entire process online or phone, and via overnight FedEx (no need to leave your house).
– Pays within 24 hours
– Door-to-door free shipping, plus free Jewelers’ Mutual insurance up to $100,000 on each shipment
– 10% bonus if you send in your item within 7 days
– 100% guaranteed highest price, and easy, free returns.
Let me know if you have any recommendations to add! I know I get a lot of inquiries asking if I personally buy jewelry from individuals and I sadly do not have the capacity to do so at this time, so I hope these suggestions are helpful. As always, happy collecting!