Knowing how to buy and sell jewelry can be useful in a variety of circumstances. Whether you are starting a jewelry collection or looking to raise some money selling on some old or unwanted pieces, buying and selling jewelry can be an interesting as well as rewarding experience.
Why Buy and Sell Jewelry?
The buying and selling of jewelry needn't be just for professionals. There are many occasions when having to buy and sell jewelry, such as rings, pendants and brooches, might be necessary and knowing the procedures to follow can help ensure a smooth transaction regardless of the reason.
Many people collect jewelry. This can be as simple as someone collecting interesting costume jewelry through to the more specialized world of the collection of vintage or antique jewelry. When starting out with a collection people by necessity start with quite a broad brief. It is only when the collection starts to grow that collectors are able to become more discerning and this might involve selling some of their original collection to invest in new items. Collectors will buy and sell jewelry through specialist fairs, trade magazines and through dedicated websites.
There are times in life where we find that we have jewelry that we no longer require. This might be jewelry from a failed marriage or relationship, or jewelry that has been bequeathed by a departed relative. Selling jewelry in these circumstances can be a stressful and upsetting experience therefore finding a dealer who is sympathetic is important. Many jewelers with long experiences in the trade will be familiar with the emotional turmoil experienced by people in this situation and will go out of their way to help smooth the process.
Another common reason why people may sell and buy jewelry is to raise money. Perhaps an expensive engagement ring is sold and a cheaper one purchased to help finance a special trip or new car. Making wise selling and buying decisions are necessary to help ensure that the maximum capital is generated from the transactions.
Creating income from purchasing and re-selling costume or fine jewelry from estate sales, auctions, and other venues can be both a creative outlet and a money-making opportunity for individuals with an eye for beauty and a nose for business.
Tips for Successfully Selling Jewelry
Most people want to realize as much money as possible from the sale of an item of jewelry. There are some common sense tips that will help achieve this goal:
- Use a reputable and experienced jeweler or auction house to appraise the jewelry. This will help to give you an idea of its value. Ask around and ask for other people's experiences, this can help establish the credentials of the jeweler or auctioneer.
- Don't sell family or sentimental jewelry while you are emotionally upset. This can cloud your judgment, and also leave you open to being manipulated to make decisions that perhaps are not in your best interest.
- Keep receipts relating to the original purchase of the item of jewelry and any receipts for cleaning or mending of the item. This can help support the price that you are asking.
- Don't be afraid to walk away. If the jeweler offers you an amount that is way under what you are asking don't be afraid to walk away. There are plenty of jewelers and valuers around, it can pay to take advice from more than one party.
- Do your homework! With the advent of the internet it has never been easier to research the value of items. This can be a useful complement to a professional appraisal and is particularly useful with unusual pieces of jewelry. Given your knowledge of the history of an item of jewelry you ought to be able to compare the value with other similar pieces. Remember that the jeweler will take a commission and therefore the prices you see items being sold at are not what you will receive, however it will certainly give you a good indication.
Tips for Successfully Buying Secondhand Jewelry
Whether you are a collector looking to extend your collection, or an individual perhaps looking for something special, buying secondhand jewelry can be an exciting prospect. There are a few key tips that will help you successfully buy second hand jewelry.
- Buy from a specialist jeweler or auctioneer. Although general antique shops or secondhand stores may sell jewelry, a professional jeweler will be able to give you more advice and help you with your purchase.
- Consider buying online. Online auctions such as eBay open up a worldwide market. It is possible to view items for sale from many countries of the world and this can present exciting options. Before buying online, however, do read the vendor's feedback and ensure that you are confident about the purchase before proceeding. If something is marketed as gold for instance, you need to be sure that it is and that you are getting full value for your money.
- Research! As important as it is when selling items to do some research before embarking on the transaction, it is equally important when buying jewelry. Some basic research will give your some good guidelines when looking to buy the perfect piece and will help ensure that emotions do not encourage an unwise investment.
Knowing how to buy and sell jewelry is a useful skill to know and a little preparation can ensure smooth buying and selling transactions.