Selling Jewelry

[rubyrox]

I have some diamond and white gold jewelry that I am tempted to sell to pay off debt. While I am not overly attached, I'd still like to get a decent enough amount for them although it won't be what was paid years ago I'm sure. Would it be better to attempt to privately sell on Ebay/ Craigslist (makes me slightly nervous because of scammers) or should I take them somewhere reputable that buys jewlery? If the latter option is the better route, where should I go for the best potential deal? TIA

 

[MMDad]

Good luck. I tried to sell my wedding band and was offered 20% of what I paid for it 17 years ago. The diamond in my wife's engagement ring appraised for 1/2 of what I paid. The rings themselves are worth only the scrap value of the gold. I went to G&H, she went to Blair's.

If you think it's something that people will really want, I think that Blair's does consignment sales.

 

[GWguy]

Same here. I have 2 diamond rings that I've tried to sell on consignment, private sales, jewelers, etc... Didn't get an offer anywhere near their value. This just isn't a great time for people to be buying frivolous expensive jewelry.

 

[chess]

If you havent gotten them appraised... do that first......

Then once you have that you can probably get 40-50% of its value

 

[garyt27]

Sell them on Ebay. Put in a slightly lower starting price than you would want for them. Offer free shipping and they will sell. that is if you don't ask retail.

 

[Tigerlily]

I am a self professed Jewelry whore and I have been this way all my life. A couple of years ago I sold pretty much everything I had on Ebay to buy a specific diamond that I wanted. Now I will preface this by saying that the majority of what I sold were items I purchased through Ebay to begin with. I have never been concerned about fraud by selling on Ebay because I only accept Paypal and I do not ship anything until it has been paid for. Watch you need to keep in mind is that Paypal takes there fee immediately and Ebay invoices you monthly. If you set a reserve price add background colors, fancy font, larger pictures, those extras will cost you even if your item does not sell. PayPal and Ebay will cost you roughly 12% in selling fees total.

Shipping Priority is usually the cheapest way and will run you about 5.70 for a small flat rate box. This gives you free tracking and I believe 50.00 in insurance. If the buyer wants additional insurance only purchase insurance for the amount you sell the item for. Appraisals mean nothing on a claim. Postage is cheaper if purchased online through Ebay and will cost you less then at the post office. Another bonus is the cost of the postage is deducted from your Paypal account.

Make sure you set up your Ebay account to only sell in the US if you choose to sell internationally out of the country you have to fill out customs forms. I have done this a few times but it is a pain. Also people will surprise you the lower your opening price is, the more bidders you will get. This many times ends in bidding wars and you may get more than you paid for something you never thought would sell. The other side is something that has more value can go for considerably less than what you want.

You can cancel an auction I think up to 2 hours prior to the end and having a lot of watchers is also a good sign. My best suggestion is to go on Ebay and look up comparable items and see what they are listed for. You will also have the option to see what similar pieces sold for. Good luck and feel free to pm me any more questions you may have.

 

[sockgirl77]

I have a friend that buys gold and silver. If you're interested PM me. I'll give you his info.

 

[rubyrox]

I think I will get an appraisal and then try Ebay first. Sockgirl, if I have no Ebay luck I might just hit you up for that info. Thanks for the responses, much appreciated!