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OT: Selling jewelry

jericho

Private
Full Member
Minuteman
Mar 18, 2009
3
2
47
ct
I have some inherited jewelry which I have been keeping for a day that I need it. So, with a baby on the way, I guess now would be a good time to turn it into cash.

What is the best way to get the most for it?

Thanks gents.
 
Re: OT: Selling jewelry

Don't sell it to the "We buy gold" people. They undervalue the hell out of it and you won't get nearly what it's worth. If you really need the money now, a pawn shop is your best bet, they will give you as close to weight value as you're going to get. If you have some time, try them on ebay or something for what their full price is, it's slower but you should make the most that way.
 
Re: OT: Selling jewelry

Call around to local pawn shops and jewelry stores and ask if they buy scrap gold and what they're currently paying for it. Remember that spot price varies each day and that your gold most likely is not 24k gold. 10k-18k is pretty common.

I'm not sure what to do with gemstones. A jeweler may buy them, but I know that diamonds don't even sell well secondhand.

A jeweler might also be willing to cut you a deal if you "trade" for a push present for your wife. I got my wife a ring with channel-set birthstones when my daughter was born. It matches her wedding band. I'll get another when my son arrives in a few months.

Good luck.
 
Re: OT: Selling jewelry

Take it to a few jewelers in your area and see what they offer. Gold should bring 50-70% of market. If the jewelry has diamonds in it they will be worth something, colored stones probably not.

I pay 70% for scrap (I don't resell what I buy off the street) and $100/ct for small diamonds (under .10ct), other diamonds depend on quality. If trading toward a new piece or labor I give 80% for gold.