how to sell expensive jewelry

Then, it sells and ships the items for you, and you receive a percentage of the sale. 1 website for selling handmade goods! First you need to get some experience selling here before selling anything expensive. Nowadays, there are many opens. Depending on the item or items you are interested in selling you can sell them on line via Craigslist, Amazon or eBay. P.O. Website attracts a focused demographic of vintage buyers, Charges a monthly maintenance fee if you list fewer than 15 items, Providing accurate information for your listings requires a bit of work. But it does get me thinking about how many avenues there are to make money and thats just one category of item! It doesnt charge listing fees for your first 250 items, which sets eBay apart from other storefront options. Thats fine if you are looking to buy more jewelry, as your trade-in value will likely be higher than the cash value. Here are the top tips from eBays most successful sellers. Learn what this means and whether it's worth it for you. Vintage and antique jewelry: Fine vintage jewelry and costume vintage jewelry from a particular era are very popular with buyers who are looking for a timeless or unique look. Among the most complex decisions, you will need to create: pricing your jewelry. Many fine jewelry pieces come with a certificate of authenticity that you can reference. The more information you provide, the more likely the buyer will be to place a bid on your item. Circa buys all fine gold, gemstones, and diamond jewelry, but it wont take lab-grown diamonds. I had an auction valuation at Bonhams but this was similar before commision / auction fees are taken off. TheRealReal sets the sales prices using data points from recent sales of similar items. Make sure to be very clear about your item's condition when listing an item in poor condition. You typically receive payment after the jewelry sells at auction. Once you return the loan and interest in full, youll get your item back. Its also important to find a supplier who is reliable and has quality products. As you list prices, bear in mind that Poshmark charges a flat $3 fee on sales under $15 and a 20 percent fee on sales $15 and over. What Type of Jewelry Has the Highest Resale Value? As with any online endeavor, however, profitability comes down to the quality of the product, the margin, and ample marketing. 13. It has a specific section for jewelry on its site, making it easy for hundreds of millions of users to sort through and find the piece they want. The best option depends on the estimated value of your jewelry. The 9 Best Places to Sell Jewelry Online Give accessories you no longer wear a second life. Here 2.1K Posts. It was GIA certified and original receipt from zales and both were scanned into the listing. Etsy allows users to quickly set up an online storefront and list their handmade jewelry for sale. They are a big player in the space and one advantage they have over a big auction house like Sothebys is that they can move quickly (big auction houses may take at least 6 months) and have lower fees plus you only pay a fee if the item sells. Think about your listing from the buyer's perspective. Choose a Niche Step 2. From consignment options to merchant sites, and wholesale buyers to online storefronts, we've researched and evaluated the best places to sell jewelry online. Well detail the basics of how to sell jewelry online, from registering your business to designing and manufacturing your products. Selling your jewelry to a local buyer is likely your quickest option. Some popular men's jewelry includes rings, bracelets, chains, belt buckles, cufflinks, and tie tacks. When shes not trying out the latest tech or travel blogging with her family, you can find her curling up with a good novel. Design and Manufacture Your Jewelry Step 4. Your payment options are direct deposit, PayPal, and paper check after your item sells. Youll probably make under $100 for costume or fashion jewelry, but you could bring in thousands of dollars for branded diamond pieces. You can even sell gold bullion and collectible coins for cash. Sell online to an estate jewelry buyer. Tiffany At Your Service. Here, you will upload a picture and description of what you are selling, and someone in your area will reach out to you to purchase it. Don't expect to get the same amount you paid, or what it is appraised for. You can sell your jewelry at local retailers, such as jewelry stores or pawn shops, or online. Many consignment services and buying companies look for diamonds and other fine jewelry from luxury brands such as Van Cleef & Arpels, Cartier, and Tiffany & Co. Thats why its important to look for maker markings and to locate certificates of authenticity if youre considering selling a piece. Table of Contents Where to Sell Jewelry Online 1. Use bubble wrap, foam, or other packaging materials to make sure your item is not damaged during its move. For example, you can target travelers by creating jewelry using sand from beaches all over the world. That said, its always good to shop around and get multiple quotes, especially for high-value pieces. Some will make you an offer after examining your piece; others give you a say in the price by letting you list your jewelry on a marketplace or conducting an auction. Watches selling for at least $2,495 let you pocket 85% of the final value price. More information. You submit the item details, receive an estimate, and, once agreed upon, send in the jewelry to receive payment. Best 5-Year CD Rates 4.50% APY (June 2023), Auctions can be more competitive than instant payments, Professional appraisal, photographs, and cleaning to prepare for auction, Not every auction turns into a bidding war, Can take two weeks to complete the auction process, Accepts most jewelry items containing gold, Other platforms can be better for selling diamonds, Only get paid for material value and not the jewelry market value, May earn more than an auction or instant payment vendors, Can sell at the highest price for the first 30 days, Selling price gradually drops to attract potential buyers, The best option for the most valuable jewelry, Can sell gold, diamond and platinum jewelry, Maybe the highest-paying local option for valuable jewelry, National brands only offer trade-in credit, Jewelry stores dont accept every type of jewelry, Pawn shops more likely to buy all types of jewelry, May offer more than the scrap value for gold jewelry, Offers may be smaller than jewelry stores, May make more money by selling it yourself, Many towns have multiple stores to compare prices, May need to schedule an appointment for specialty items, Can make more money as you sell directly to the buyer, Can sell jewelry that stores wont buy from you, Requires more effort than going to a store, May need furnish official appraisal to prove authenticity, Diamond carat size, cut, color and clarity, Know if the material is natural or artificial (i.e., cubic zirconium). Some are better and faster than others. Note that Worthy is set up to sell diamond jewelry, so you may not be able to sell other stones. Craigslist. PayPal transfers payments to a bank account of your choice and notifies you when a payment has been received. To get an appraisal, you can meet with a Circa specialist in person or mail in your jewelry. Great article with excellent information. The company cleans, photographs, and lists items for you, Items under $5,000 are charged a hefty commission. Strategy #3: Research your retail opportunities. These responses are not provided or commissioned by the bank advertiser. Poor: Jewelry pieces that show major wear and cannot be worn are in poor condition. Thats where marketing comes in. If price tags or branding tags are still attached to the piece, your item is NWT. Add pictures, keep track of your favorite buyers, and tell the community about your interests and collections. After inspecting and verifying the piece, the G.I.A. This is easily achieved by hanging a bed sheet or placing poster board behind the item. Whether you want to adorn yourself with diamonds and pearls, update your look, or save up for a meaningful gift, selling on eBay is the perfect way to earn extra money. If you do want to sell fine jewelry on eBay, the sites Authenticity Guarantee will inspire confidence in potential buyers. Register Your Business Step 3. Want to make the most out of your savings without taking any risks? 30, 2022) | 19 We earn commissions for transactions made through links in this post. Instead of negotiating with jewelers, on Ruby Lane you sell to consumers directly, so you can set up your own shop and prices. Support your favorite cause and enhance buyer trust and loyalty at the same time. 1. Never leave a buyer wondering how much shipping will cost. Diamond jewelry: Buyers are searching for diamonds in all grades and sizes, and in both loose stones and set in jewelry pieces. We looked for a solid industry reputation, a simple onboarding process, and transparent pricing. These identifying markings are usually located on the inside of a ring or bracelet, the post of an earring, or on the clasp of a necklace. Photos are the closest you can get to putting your Jewelry in the hands of potential buyers. If you dont want to part ways with an item but are looking for immediate cash, pawning is an option. Feedback is extremely important for all eBay users. Create a winning listing How to capture the buyer's attention. These are typically either private label or branded products where you maintain the brands logo but sell to customers on your site at a markup. Theyve auctioned off a $4,000,000 diamond on their platform and have experience selling fine jewelry priced in the hundreds of thousands of dollars. Or did I pay too much? Step 1. Youll also want to stick with locally owned jewelry stores as they are more likely to give you cash, rather than store credit. To get started, simply sign up for an account, follow the tutorials, list your items, and start selling. To get a real-time view of whats in demand, what buyers are searching for, and what items are selling the most, visit Jewelry & Watches Seller Central. Compared to other jewelry resellers, Circa strongly incentivizes sellers to select its store gift cards. To make sure your shipping charges reflect this, incorporate a shipping calculator into your listing. Try taking your item outside on a sunny day and photograph it in a shady area. Top 5 tips for selling your unwanted jewelry at the best price: The purpose of this article is to ease your concerns and give you answers to questions you are likely asking yourself. Theres an endless array of materials used in jewelry makingfrom diamonds and rubies to platinum and gold to even glass beads and leather. Handcrafting the world's best diamonds starts with knowing where they come from. While this extra step delays shipping, it ultimately builds your credibility and helps you stand out in eBays saturated jewelry marketplace. She has nine years of writing experience and frequently writes about caring for pets, shopping, streaming, and gardening. They dont always have the best price though. Cash is the best transaction. If you are creating your own e-commerce storefront, the process is different based on the platform used. Cassie is a deputy editor, collaborating with teams around the world while living in the beautiful hills of Kentucky. Following the appraisal process, Worthy will recommend a reserve price, the lowest price youd be willing to sell for. will ship it to your buyer. We also considered a variety of different selling options, including online auctions, consignment, direct purchase, eCommerce, and online marketplaces. If you decide to sell luxury pieces on Poshmark, the company has a free authentication program for items valued at $500 or more. Good commission structures and low listing fees also landed companies a spot in our list of the best places to sell jewelry online. If you are listing your items on an auction site, the listing fee (per item) typically ranges from $0.20 to $0.35. Jewelry box getting full? Getting multiple quotes from online and local merchants can help you find the best price so make sure to do your homework. One way to help ensure good feedback is to communicate well, represent your item truthfully in your listing, and be polite. eBay does not examine items listed on its site and does not have the expertise to evaluate items. Worthy lets you set a minimum price and some items may qualify for a price guarantee. If youve got luxury jewelry you dont wear anymore, you can make money by selling it through The RealReal, which is essentially an online consignment shop. This gives you personal liability protection and can help separate your personal assets from your business assets. All Rights Reserved. After your item sells, you are ready to ship it off to its new home. Pros: Popular option, quick to upload details of your jewelry. As such, you need to make sure that you are presenting your jewelry in the most professional and appealing way possible. For additional information, please review our advertising disclosure. The 6 Best Online Embroidery Services of 2023, The 8 Best Online Quilting Classes of 2023, The 7 Best Online Crochet Classes of 2023, The 8 Best Online Floral Design Classes of 2023, 18% up to $5,000, and down to 10% for $30,001 and above, $0.20 listing fee, 6.5% transaction fee, 3.5% and $0.25 payment processing fee, 20% up to $99, and 70% for $5,000 and above. The estate jewelry at retail value estimates the price an item would sell to a used jewelry customer. As an Amazon Associate we earn from qualifying purchases. Etsy You had to know this was going to be on the list of best websites to sell jewelry, right? You can also search current and completed eBay listings to see what other sellers include in their titles. Past performance is not indicative of future results. This compensation comes from two main sources. The jewelry company may stipulate that you can only upgrade to pieces worth at least twice as much as your original item, for example. Develop a Marketing Plan Frequently Asked Questions Show more By. Are rubies, sapphires and emeralds also in demand? Follow Your Diamond's Journey. Knowing how much your jewelry is worth gives you a better idea of where to sell your jewelry. View cart for details. Earrings: Popular earring styles include dangle earrings, hoop earrings, or elegant and simple stud earrings. The two critical areas of knowledge to get the best price for your jewelry are the factors that determine the value of estate jewelry and the options to liquidating it. Plus, the company sends you a prepaid mailing label for no-cost shipping. Connect with other Jewelry lovers on the Jewelry & Gemstones Discussion Board. BetterLegal is one example of an online business filing service. Sothebys has you send pictures of your items to get a preliminary estimate. Getting an official appraisal for your jewelry can help you earn more money as you can verify the authenticity. Throughout the process, youll have access to auction managers who can advise you. Visit Back to top Find Out What's Hot in Jewelry Find Out What's Hot in Jewelry Millions of buyers come to eBay in search of Jewelry in all styles, materials, gemstones, and colors. Shoppers of pawn shops expect ultra-low prices and the buyers need to account for some profit margin for themselves. Sell Your Fine Jewelry The diamond necklace from an ex, the gold watch that sits in your jewelry box, the ruby necklace that you loveda decade ago. Knowing where to sell your jewelry can help you get the most money for that item. Worthys fees are reasonable and depend on the size of your sale. State important characteristics of your itemwhat it is, material, brand, size, certified if applicable, and condition. If you can sell a piece to someone who will use it as is, you should be able to get the best value out of it. Or, perhaps you create your own handmade jewelry and want to start a virtual store. The RealReal will then give you a listing price, and if agreed upon, they will post your items for sale. Another great option for selling your jewelry locally is Craigslist. I received 2000 for 2 diamond rings which then went in the shop window for 8000. The appraisers use the industry-leading GIA appraisal standards. To get started selling with eBay, simply sign up for a free account (using an email or your Google profile), and start listing your items for free. For example, Ruby Lane features a tool that automatically identifies areas of your shop that could be optimized. SaveBetter is rebranding to its parent company's name, Raisin, and the SaveBetter brand is going to be retired. Don't bother with Sotheby's or Christies -- they won't deal with a single piece unless grandma was very, very famous. When selling a Jewelry pieces that contain expensive stones or materials,orthat are ispotentially worth a lot, it may be worthwhile to get your item appraised and authenticated. This content has not been reviewed, approved or otherwise endorsed by any of these entities. Once youve sealed up your package, you can pay for shipping and print shipping labels right from your PayPal account. Cash for Gold USA provides an appraisal within 24 hours after receiving your jewelry. Your jewelry is graded and Worthy prepares your item for auction. Still, Etsy does offer discounts on shipping, which helps save on overhead. Visit Jewelry & Watches Seller Central to find out the average selling price of similar items on eBay. These signs are usually for gold and silver exchange stores. Visit the Pearls Buying Guide to learn the differences between freshwater pearls, Tahitian pearls, Akoya pearls, and South Sea pearls. By clicking Accept All Cookies, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts. Here are a few jewelry pieces that are popular on eBay: Rings: Thousands of buyers come to eBay in search of a perfect ring, including fashion rings and gemstone rings, and even rings to be used as engagement rings and wedding bands. Introduce yourself through your About Me page and MyWorld. The real fees are in the seller commissions, however. Keep in mind that Ruby Lane charges a 9.9 percent site fee, plus a $25 monthly maintenance fee if you have fewer than 15 listings. There are several reputable places to sell jewelry online at a fair price. In this Raisin review, I analyze their offers and let you know how good the savings rates are and if the platform is legit. In your Listing Description, make sure to include both basic information and details about your item. Much like how you can get more of items on eBay than at a garage sale, sometimes local supply and demand can affect how much you get for your jewelry. While your first $5,000 of sales incurs a 15% fee (an industry standard), the higher the sales price, the lower the fee. For example, vintage and antique have specific definitions: Vintage pieces are at least 20 years old, and antique ones are at least 100 years old. Copyright 1995-2023 eBay Inc. All Rights Reserved. If you click on links we provide, we may receive compensation. In this article, we will walk you through how our process works. If you need help selling other stuff, this post explains the best places to sell your non-jewelry items. Cover All Angles: Take pictures from multiple angles and distances, zooming in on important details. Sell with confidence Authenticity Guarantee ensures careful inspection and verified returns at no cost to you. It does, however, buy loose diamonds. We considered several data points, including selling options, commission structures, listing fees, and other factors. Alternatively, you can opt to trade your item in for store credit and get 10 percent extra value. Cons: Difficult to set a reserve price without working with jewelry specialists. TheRealReal Sotheby's Where to Sell Jewelry Locally Jewelry Stores Pawn Shops Gold Exchange Stores Craigslist or Facebook Marketplace Tips for Selling Your Jewelry Get an Independent Appraisal Know the Jewelry Details Summary Where to Sell Jewelry Online There are plenty of places to sell your jewelry online. Become a member to unlock prices In terms of value, color evenness and saturation are the primary considerations. If you are looking to sell your jewelry online through an auction service, you usually need to fill out a form, upload photos, receive an appraisal, and then send the items in for examination. We've done the research for you, listing their annual percentage yields (APYs) and minimum deposit requirements. It's wise to get several bids when you're selling an expensive item. Alternatively, you can opt for site credit and receive a bonus 5 percent on top of your commission. By Stacey Nguyen Published on March 26, 2023 @ 08:33PM We independently evaluate all recommended. When someone asks for a specific type of jewelry, you want customers to recommend your store as the go-to source for that specific jewelry. National jewelry stores like Zales, Kay Jewelers, and Helzberg Diamonds offer in-store appraisals buy you will need to mail in your jewelry. Worthy helps you land top dollar for your jewelry without a lot of hassle. You can visit your local jewelry buyer and walk out with payment. Thank you for the exhaustive list! While this may be an easy way to make money on your high-end jewelry, WP Diamonds is a wholesaler and will most likely offer you less than the retail price, as it re-sales items for profit (similar to a jewelry shop). You can even print shipping labels and track your shipments. If you dont have this document, you can examine your piece for hallmarks or manufacturers markings to identify features such as brand, metal type, and purity. Learn what the store is buying to determine whether or not your line is a good fit before the buyer has to tell you. This can be a good option if you have a unique piece or your offers from local buyers are too low. The best places to sell jewelry have a great reputation, a simple onboarding process, and transparent fees and pricing. Jacob Wade is a nationally recognized personal finance expert and writer specializing in appraisals of jewelry, sports memorabilia, and collectibles. To submit a piece and have all the listing work done for you, The RealReal and Worthy are good options. Any legit jewelry vendor will appraise your jewelry to make an offer. Once you accept the offer, payment should arrive in 24 hours. Best Credit Cards for International Travel, Step 3. When the pricing process is over, The RealReals team takes care of authenticating, photographing, and writing copy for your item. Something went wrong. We researched several online jewelry-selling platforms before coming up with our list of the best. For anything under $100, you only receive a 20 percent commission. International Studies and Political Science with a minor in Spanish (he studied abroad in Sevilla, Spain for 3 months), Josh decided to sell his soul for seven years by working in the transportation industry to get out of debt ASAP and focus on doing something else with a better work-life balance. Add Gallery: Including a Gallery photo with your listing is extremely important for success. Youll likely be working with an appraiser, auctioneer, and even a gemologist who will validate your pieces and advertise them to a targeted audience of legitimate buyers and collectors. Because they have experienced gemologists . The most accurate way to determine your jewelrys value is to have an expert jeweler or certified appraiser conduct professional tests. How much you make depends on the carat, clarity, cut, and color of the diamond. The appraiser should also tell you the fair market value for your jewelry. How much you make depends on the quality of your piece and where you try to sell it. 3. For the latter, simply ship in your item after uploading images and paperwork. Buyers are looking for necklaces and pendants of all sizes, including chokers that sit close to the neck, short, medium, and long strands, long lariats, and chains. With millions of buyers and low fees, its the perfect option for startups. Its more of an art piece I think so how would I go about finding the value. I had my contact info in every picture, had 30 pictures, included free overnight shipping with insurance. It staffs in-house GIA-certified gemologists to evaluate and authenticate your jewelry. Be more than just a username to your buyers. In addition to collaborating with media publishers, she produces marketing copy for lifestyle brands. If you have old jewelry youre looking to sell, you might want to aim at the target audience of vintage enthusiasts that Ruby Lane caters to.

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