How to Sell Your Luxury Pieces of Jewelry?

by | Jan 31, 2022

 

Studies show that customers can pay more for less when presented with many items in different price tags. This is particularly true when the “fewer” item is more expensive. As a result, selling luxury pieces takes unique strategies. Where you sell also matters. Here’s what you should do to sell any luxurious jewelry pieces you may have.

 

Sell to a Jewelry Store

Woman looking at a jewelry store window

You can find a jewelry store that can buy your jewelry. In this case, you’ll need a luxurious jewelry store to increase your chances of selling your luxury piece/s at the best price possible. Some jewelry stores buy jewelry and accept buybacks/returns. If you can sell the jewelry to the store you bought from, well and good. You can also look for luxury jewelry buyer stores online.

Most of these stores will offer cash on the spot. Some may have other options. For instance, you could get partial payment or wait to get full payment after an agreed period. All in all, you should sell to reputable jewelry stores only.

Mimi’s Jewelry is an example of a reputable Jewelry store in Orange County that buys luxurious jewelry at great prices. Sell Gold Jewelry, diamond rings, expensive watches, etc., for cash!

 

Consider Pawn Shops

elling gold jewelry accessories at a pawnshop

This is arguably the fastest way to sell anything for some quick cash. However, don’t expect to get maximum value. While pawn shops know how to spot really valuable Jewelry, they usually offer less than half the value. If you don’t mind taking 30% of the item’s actual value, a pawn shop may be an option.

However, do your research first to establish the current market value of whatever Jewelry you are selling since pawn shops have a lot of room for negotiations. For instance, being knowledgeable about the price of gold or diamonds can help in getting the best price on expensive gold or diamond jewelry. You should also be careful about carrying around expensive Jewelry to different pawn shops in search of the best price, given the obvious security risks.

In a nutshell, do thorough research, get estimates beforehand and only consider pawn shops as a last resort i.e., in emergency cases where you must sell your luxury jewelry to get quick cash for medical bills, funeral expenses, and car repair bills, among other emergencies.

 

Auction Houses

Pearl engagement ring displayed for auction

To get as much value from your luxury jewelry or more, consider auction houses. Auctions are great ways for selling luxurious Jewelry. However, the Jewelry must meet a certain predetermined threshold to be auctioned in leading auction houses.

What’s more, leading auction houses have high fees making this option ideal for high-end Jewelry only. You can choose local or regional auction houses to sell luxurious Jewelry pieces that don’t meet the value requirements or other standards set by leading auction houses.

It’s also important to understand other shortfalls of auction houses. For instance, you risk selling the Jewelry at a low price since the price is unknown. To increase your odds for a successful sale, you need to find an ideal auction house (preferably one that specializes in the Jewelry type in question). The time you put your Jewelry up for sale in an auction also matters. Generally, you should sell when the type of Jewelry you are putting up for sale is scarce.

Also, a sale isn’t guaranteed. The type of auction house also matters. Ideally, your Jewelry should be put in front of many potential buyers of luxury Jewelry. There’s also a risk with online auctions. If you don’t choose a reputable auction house, you may not get paid after sending or handing over your luxurious Jewelry.

 

Summary

There are many other ways to find buyers of luxury jewelry. You can use newspapers or other avenues online. You can sell just about anything, including luxurious Jewelry online via online auction houses, social media, etc. However, you must be vigilant to avoid being scammed. Luxurious Jewelry is highly sought after. Therefore, the necessary safeguards must be in place before you attempt to find a buyer for luxury jewelry anywhere. Finding reputable buyers like Mimi’s Jewelry is of utmost importance!

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