Find out what the best options are for selling jewellery whether it’s designer, vintage, gold or diamond jewellery, this guide will help you.
There is a drawer in most houses where the jewellery goes to wait. A ring that outlived the marriage, a bracelet from a grandmother whose wrist it fitted better, the earrings bought in a fit of optimism and worn twice. Then comes the difficult decision, do I take the plunge and sell it or even more perplexing, where?
There is pervasive myth that second hand jewellery is seen as old ‘tat’ and would hardly fetch anything. Yet rather ironically this couldn’t be further from the truth, with vintage pieces often fetching considerably more than new ones. The market for pre-owned jewellery is mature but often discreet. There is no shortage of buyers in the market but what does make this more challenging is trying to match the buyer to a piece as this sort of purchasing becomes much more personal and intimate than regular retail sales.
What sells these pieces more than often are the stories behind it. So, as the owner of this previously loved piece, you are in the best place to frame it. It is however important to set realistic expectations. Not all pieces will have the “antiques roadshow” experience in finding out that Gran’s old broach is worth the same price as a new Bugatti and perhaps most importantly realising that things are less and more desirable during different periods. One minute art deco is all the rage and the next you can barely give it away.
The Different Ways to Sell
Selling to a Jeweller or Pawnbroker
Selling jewellery directly to a jeweller or a luxury pawnbroker is one of the eldest roots and still the most immediate. This route allows you a face-to-face meeting with a trained eye which can usually give you an offer on the day.
What does make this option extremely popular is the speed and certainty. There is no lengthy listing process of taking photos and writing descriptions and trying to figure out a price for the market. There is no waiting for a buyer to appear or haggling on price trying to arrange for collection or dispatch. This is an immediate sale which could often result in receiving funds on the very same day.
Another grade plus point of working with the jeweller directly is that you’re dealing with someone who handles diamonds and precious metals daily. They are able to read the quality of the setting as well as the stone quickly and can explain what they’re seeing. This removes the headache of an uneducated or shrewd buyer trying to convince you that a stone is worth less than it actually is.
This is also an extremely good fit for someone who values discretion and would like a clean transaction as opposed to a drawnout process. Should these pieces hold extremely sentimental value BS of a previous marriage or an inheritance having A long draw night sale process with haggling and delays could add to the trauma and this removes all of that.
On a practical note, it is extremely important to only approach a reputable jeweller or luxury pawnbroker as this side of the industry has a minefield of chance takers. Make sure to bring paperwork and more importantly ask how the offer is built in terms of stone versus metal versus design.
Selling Through an Online Marketplace
This is often one of the best avenues to take when trying to sell secondhand jewels selling through established online marketplace allows you the widest audience and the one most likely to include a buyer who wants exactly that piece rather than just a piece.
Sellers said the price and the pace of each transaction. Therefore, the photography and description carry almost the most weight. Remember, you know what this piece looks like in person, the online buyer does not. Your images and description is likely what is going to sell the peace. That being said it is extremely important not to over promising under deliver when it comes to the listing.
Not it is very important to remember that there are online marketplace and then there are online marketplace. Specialist preowned luxury platform sit alongside general marketplace the former authenticate and handle the transaction but they do take a commission for it.
Now the main trader for selling through an online marketplace is the time. The right buyer might take weeks and then there is of course shipping and Insurance needed throughout.
Selling Through an Auction
This route is really mostly reserved for signed piece pieces important stones Exceptional Antiques period jewellery and those pieces with provenance.
In this case, the high surprises catalogues and markets it but with this Avenue Competition between bidders can lift a price well past private offer or even it’s valuation.
Here you will most likely be dealing with reserve prices and estimates. In most cases and can be a prerequisite from your side of the Seller is protected from a bad day by setting a reserve price but is not guaranteed a good one.
What is very important to remember here is that there are fees on both sides the sellers commission as well as the buyers premium as well as a calendar to work around. There are often Sales cycles which can run for months.
When it comes to selling through auctions, they are regional and online auction houses which wide in the option beyond the grand Sales rooms. Again this is really dependent on the quality, value and desirability of the piece.
Diamond Jewellery, Resale Value, What to Expect
The resale value and diamond market as a whole has recently been grabbing the headlines due to an enormous impact on the market ranging from Leger and diamonds right through to desirability and the size of the market. It is therefore very important to note that natural diamond jewelry generally realises 20 to 60% of the original retail price.
Now, there are multiple reasons for that but generally speaking the gap is due to the fact that retail prices carries the makers margin, the retailers overhead, the marketing as well as the settings design and labour. Whereas a buyer pays for the stone and the metal.
It is also very Important to remember that insurance valuations are replacement figures are not sales figures these often double what the piece would fetch in the actual market.
What move it up? The number is the certification from a recognise lab, classic cuts and shapes, larger and better graded stones, assigned or documented piece with original box and paper papers. What often moves down are unusual shapes that are fallen from fashion strong fluorescence, a worn setting and missing documentation.
When it comes to Larry diamonds, this is a completely separate conversation. Resale and single digits to low teens as a percentage with a trend being downwards.
Another important thing to keep into mind is the gold component. This is evaluated by the weight and purity at the days spot price which sets a floor under any offer.
How to Sell Diamonds Jewellery
Know what you have. The fast thing to do is to dig out the receipt get the certificate and any possible valuation you have. If you don’t have a certificate then an independent appraisal which unfortunately is paid for and not free gives a neutral starting point to work from.
The second thing you want to do is to clean it, And if needed, have it repaired. A stone that sparkles read is cared for don’t over restore antique pieces. It is very important to keep in mind that Bettina can often be part of the value as well as the overall desirability.
Thirdly, match the peace to the route. If you’re looking for an immediate sale, find a jeweller or a luxury broker. For a broad of audience go the online marketplace route. When it comes to rare or signed pieces auction is probably the best route.
It is always important to get more than one opinion offers for the same ring can vary widely dependent on market clientele region and resellers appetite.
It is extremely important to understand the offer’s construction. Make sure that you have a very clean break up of the valuation of the Stone, metal, design Premium- if any, Before you accept anything.
Lastly, is the paperwork and payment. This usually requires a bank transfer with a receipt or identification documents as require required. For online Sales Keep in mind that insured shipping is an absolute must and can save you a lot of headache going forward.
FAQ’s
How much of the original price will I get for diamond Jewellery? – Generally speaking 20 to 60% of natural stones. This does depend on certification the quality the brand and of course the route.
Is it better to Seller jeweller or at auction? – Jeweller for speed and certainty auction for rare signed or antique pieces where Competition may lift the price
Do I need a certificate to sell a diamond? – This is not required, but it strengthens the offer. Without One, you can expect the buyer to grade at themselves or arrange an independent to appraisal.
Does lab grow diamond jewellery hold its value? – Far less than natural. Currently the resale of a lab grown diamond is a small fraction of Retail and is falling.
Should I have my jewellery cleaned or repaired before selling? – Cleaning yes, repair minor issues but do ensure to leave antique patina Alone as this could add To the value of the piece. Also, don’t spend too heavily on restoration that you won’t be able to recoup.
Whatever the piece, the right buyer already exists; the work is simply in finding them. Take the paperwork, take a second opinion, and don’t be hurried by the first figure on the table. A diamond has waited this long. It can wait another week for the right price.
