How To Make The Most Money When You Sell Your Jewelry
Whether you want to sell your jewelry online or you want to take your jewelry to an auctioneer, one thing is clear: you want to make the most money you can on your jewelry. After all, there was an initial investment on your part, and if you didn't need or want the money, you'd have to keep your jewelry or just give it away.
You want to make the most out of your investment, so you need to know a few tips to make some money. Here are a few ways you can maximize potential profits when you sell your jewelry.
Know what each individual item is worth
You'll be able to confidently sell your jewelry if you know what your items are worth individually, not as a whole. Know the value of your jewelry by taking the pieces into a jeweler. A jeweler will assess the value of your jewelry by make, style, metal authenticity and type, gemstone authenticity and type, and whether your jewelry has collector value or not, among many other factors.
As a bonus, a jeweler may be willing to buy your jewelry or give you store credit if you wish to go this route. Otherwise, you may get an expert quote on what your jewelry is worth so you can price it accordingly and stick firmly with your price.
Know what the jewelry market looks like
There are certain times of the year when jewelry, such as engagement rings, is more in demand than other times. Gold and silver values fluctuate like the rest of the stock market does, and some gemstones rise and fall in popularity due to social media trends and other factors. Pay attention to trends in the jewelry market so you know when to strike it out for yourself and sell your jewelry when the demand is higher.
Know how to professionally haggle
It's intimidating to throw a price on your jewelry then work with an interested customer who wants to negotiate price, but when you learn how to haggle, you can still sell your jewelry for profit while making the buyer feel confident in your sale as well. Haggle this way: have the highest and lowest price you are willing to bargain already in mind, and try to meet your buyer somewhere in the middle. This way, everyone is content with the sale of the jewelry involved, and you can continue to strengthen your negotiation skills with future selling.
You can sell your jewelry in several formats, including in your local newspaper or social media outlets. Whether you choose to sell your jewelry in large batches or as individual pieces or sets is up to you. If you are looking to sell your jewelry, reach out to a local company, such as Capital City Loan & Jewelry, to learn more.