How to Approach Selling to Jewelry Stores All Entries
Many of the hundreds of thousands of consumer products on the market do not hold their value as investments. During this high tech age, we live in a culture of disposable items which are constantly being replaced. On the other hand, jewelry, can be counted on to increase in value over time, provided you maintain its condition. Here are tips for jewelry collectors and investors when selling items for profit to jewelry stores.
Get Your Jewelry Appraised
The amount of money you can get for your diamond rings and other gemstones depends on a variety of factors. You should first take your items to an experienced appraiser who will determine the quality and authenticity of your jewelry.
Since there are over 25 different types of appraisals in the jewelry industry, it's important to choose the most appropriate professional for determining the dollar-value of your jewelry. Some appraisers base their work on insurance purposes, some do it for tax purposes, while others appraise jewelry for resale. Make sure the appraiser is a certified professional at a jewelry store or a gemological lab, such as GIA, EGL, IGI or AGS.
Diamonds vs. Metals
Precious metals, such as gold or platinum simply need to be weighed, then valued at current market prices. Diamonds require more analysis, which includes carat, cut, color and clarity (4Cs). A diamond grading report will give you the most objective and accurate estimate of its market value. The best idea is to get multiple opinions for the highest fair market value, instead of just one.
Jewelry comprised of gemstones often command higher offers than items without gemstones. High value offers, depending on the 4Cs, tend to be associated with diamonds, sapphires, rubies and emeralds. Be aware of costume jewelry made of synthetic diamonds and gemstones. Whenever you buy high value jewelry be sure you are buying from a certified seller that can prove its authenticity.
Only Sell When You're Ready
Knowing when to sell jewelry comes down to your own personal needs. This can include needing money quickly or the jewelry has just lost its sentimental value. If you're not concerned about the amount you receive, then you won't have to do as much investigating. But if you're going for a solid profit, you need to be more careful about when you sell your jewelry.
The economy is never predictable. Sometimes you can sell too soon or too late. Studying market price history and trends may help, but it can sometimes throw people off. It's best to consult with jewelry experts who understand market cycles, instead of making quick assumptions based on studying a few graphs. Be aware that many jewelry stores are looking to make a 25-40% commission.
Selling jewelry is a way to make money when you need it. If you are interested in selling your used jewelry or have questions, visit Ralph Mueller & Associates or call 480-949-9229. We've been a diamond buyer in Phoenix since 1983 with the goal to exceed client expectations.