How to: Sell Jewelry?
 

Well folks, I either did something really smart or really dumb today, we'll see which soon.

I purchased jewelry valued at about $12,800-$13,900 today. I have no need or want for the jewelry, I just couldn't turn down the price. My question, however, is how to get the most bang for my buck when it comes to selling it.

I have never sold anything at a jewelry store or pawn shop, so I have absolutely no idea what to expect. Doe anyone have any experience in this? If so, any idea on what I can expect to get if the price listed above is MSRP?

Thanks for your help!

Depending on the type of jewelry it is -- a lot of jewelry stores will buy estate jewelry from you -- either on consignment or flat out purchase it from you... You might also look at auction houses to see if they have any jewelry sales coming up...

Pawn shops I have no experience with,b ut I'd be willing to bet you'd get pennies on your dollars there...

Oh, good - I wasn't certain that jewelry stores purchased jewelry, going to a pawn shop was hopefully my last resort. Thanks Maleficent! :D

It is a variety of different items, a necklace, several bracelets (Diamond, Emerald, Topaz) several different rings (Ruby, Tanzanite, Diamond) and a loose diamond stone that I didn't take into account in my calculations simply because it seems too good to be true. If it is, in fact, what I think it is, it is a 4.5 carot round cut diamond with near flawless coloring. I don't have a loupe so I can't say how the impurities are, but I would guess that it is at worse SI1... Then again, I'm not a jeweler...

I'd take it to another jeweler and have it all appraised especially since you're not sure of the quality of the loose stone. Then I would try to sell it on Ebay or directly to a consumer and leave out the estate sale and pawnshop folks. They're interested in screwing you and turning over big profits for themselves. Obviously not all of them, but more than I'd be comfortable with.

Good luck!

Chain jewelry stores (like the kind found in most malls) i doubt wil - but local jewelry stores absolutely will... I don't know what kind of pricing they'd give - as i've only bought estate jewelry - not sold it... check your local yellow pages for jewelers... and give 'em a call... Good luck.

The diamonds, as long as they are good quality, would have no problem selling, at worst - they'd remove the stone, melt down the metal and redo it....

if you are near a bigger city, or at worst case, make a road trip to Chicago or a close major city that has a diamond district - that might also be an alternative...

As has been said, take the items to a couple of local jewelry stores. Especially ones that specialize in estate items. You could use your experience as a banker to tell the jeweler that you are getting them valued for a client. I think they would be inclined to give you a more fair estimate of their value. When I worked for the bank Trust department we used to have to do this all the time. A lot of times the jewelry would be willed to someone, but still had to be valued for estate tax purposes.

I'm sure you're aware that the markup on jewelry is worse tha furniture >>100%. MSRP means virtually nothing as far as actual value.

Good luck. Let us know how it turns out.

Although I'm aware that the markup on jewelry is huge, I am putting weight on the MSRP, since that is the only figure I have to base my estimates off of.

However, I think it is a relatively safe investment because I paid less than 5% of the MSRP and the jewelry is brand new...

So I hope, anyways. I will keep you folks updated on what I learn :D

I wouldn't sell on eBay -- a lot of counterfeit goods of various types are being sold there now; the forgeries are so cheap that the prices being offered for "the real thing" are depressed by association. All I buy on eBay now are things whose value depends solely on their function, not their pedigree.

See if you can find a reputable jeweler who's willing to sell for you on consignment; thus, the better he does, the better you do.

how nice are those rings? vday is comming up soon. could you post some pictures or is that not possible? :)

Here is a couple of items that I have...

http://img151.imageshack.us/img151/9...racelet5sv.jpg

http://img104.imageshack.us/img104/5052/bracelet1dz.jpg

http://img104.imageshack.us/img104/4701/ring5vu.jpg

http://img104.imageshack.us/img104/2530/ring20yr.jpg

I also have a 4.5 carot diamond that I can't photograph very well at all...

Well you seem good at photographing jewelry. My guess is that you should try ebay.

the sapphire ring and the tanzanite ring are both beautiful - but look like they are in desperate need of a good cleaning... :)
are the bracelets aquamarine and diamond? they are pretty...

The green one is emerald and diamond, the blue is topaz and diamond :D

Indeed, they all could use a cleaning :D

Oh, also, here is a .5 carot ruby ring...

http://img137.imageshack.us/img137/5175/rubyring9tn.jpg

Alrighty- I've been a jeweler's apprentice for a while... not like I have a ton of expierence or anything....

I say, DON'T sell stuff on e-bay. Like it has been said, there is fake stuff out there driving the prices down, and besides, if someone is going to pay a ton of money for really nice jewelery, do you think they shop on e-bay? Probably not.

Also, when you take it around to jewelers (and definitely, definitely, take it to more than one) DON'T tell them it's your jewelry. Tell them it's for a client- they will (even the honest ones) depress the price they tell you if they think you'll sell it for less than it's worth. Take it to places that aren't chains- the jewelers there are more of the "artisan" types and they'll know more about good jewelry and good stones. While you're at it, get each of the stones looked at so you'll know just how "flawless" that diamond really is- again, get a second and third opnion on that.

If you were near Asheville I could tell you some people to go see to check out the stones.... but you're not so it doesn't help. I agree that selling it yourself would net you more money than an auction house or a pawn store (for God's sake, you wouldn't take your Ferrari to Chuck the mechanic, now would you? DON'T take your nice jewelry to a pawn store).

If I find out any other good advice, I'll let you know....

Much appreciated, Sage :D

Very beautiful jewlery. I'm hoping you make a nice profit on it!