Selling old jewelry can be a quick way to earn some cash, as long as you set realistic expectations for what you might get for it. We never recommend selling jewelry that you actually like and wear because it will be all the more painful to part with it for discounted prices. This is because all jewelry is sold at incredible markup to provide profit to the manufacturer, wholesaler, and retailer; those costs are also considered for insurance appraisal, i.e. replacement cost. But when you sell jewelry, all those markups are removed, so you might be surprised at what you’re offered.
To get a realistic idea of what those offers might be, search completed eBay auctions for items similar to yours. Diamond buyers should be consulted for free evaluations on items with diamonds or other precious gems; be sure to ask when visiting what the current market trends are for the type of jewelry you’re selling. And check reviews before trusting appraisers!
To prepare your jewelry for sale, clean it yourself with warm water and dish soap, or a safe jewelry cleaner. Alternatively, visit a South Florida jeweler to have it professional cleaned, and ask about costs for any necessary repairs as well. Don’t to try to repair jewelry yourself as you may cause further damage.
Now you’re to sell! Ebay is an option, if you have the time to wait; doing this cuts out some of those middleman costs and might net you more money. Consignment shops are another option to consider if you’re in no hurry for your funds, but consignment shops do take a big commission on items they sell. If your goal is fast cash, a Fort Lauderdale pawn shop is probably your best bet, even if you don’t’ get the maximum price.
Next week: learn how to get the best offer from a pawn shop in Fort Lauderdale, Florida.