Friday, February 3rd, 2023

Selling expensive jewelry: Why and how to do it fairly and reliably.

If you are someone who is looking to sell rare, antique, and expensive jewelry and watches online, but do not know how to go about it, well, then you have come to the right place. There are several factors due to which someone may decide to sell these, be it due to a sudden cash requirement, a bad memory, or maybe perhaps they just do not like it. Whatever the case may be, it is extremely important to be aware of the steps and procedures involved in selling such a commodity, and that is exactly what we are going to talk about here. So, let’s start.

What goes into selling expensive jewelry?

Well, before exploring the various methods that one can take to sell expensive and rare jewelry, and watches, let us try to understand the various reasons that influence these sales in the first place. 

  • Instant cash- Expensive jewelry and watches are among the best stores of wealth known to man, and this is not a recent occurrence in any way. One of the best advantages that jewelry has over other forms of assets is that enjoys a high degree of liquidity, which means that it can be converted into liquid cash within a very short duration. If you have these lying around the house, you can take these through the methods that we would be discussing later on, and sell them for cash, which you can then use for whatever you want, be it a health emergency, a capital expenditure, etc.
  • To get over a bad memory- One of the worst experiences that anyone can have in their lifetime is living with a bad memory that haunts them and gnaws them out. It may be the death of someone close, a broken marriage, break-ups, etc. In several of these cases, it is seen that jewelry like engagement rings, wedding rings, necklaces, and things like old watches worn by a family member, etc. evoke these memories, thereby plunging us back into depression, and an omnipresent cloud of sadness.

One can decide to move on from these memories by selling off these jewelry and watches, thereby removing the triggers from their lives. 

  • They just do not like it- It is possible in several cases that they are just interested in retaining this jewelry or watches because they do not relate to it or do not like the design or the model. In such a situation, it does not make any sense to keep them back, and selling these off for some liquid cash is the logical thing to do. 

Now that we are aware of some of the reasons that act behind these selling decisions, let us take a look at the various channels through which these sales can be undertaken. 

  • Direct sales- One of the popular methods that one takes to sell these off is by directly selling them off to a known accomplice, a relative, etc. Although this may seem to be a relatively simple process, there are several issues that plague this system. The primary among them is the aspect of reliability and valuation, since these individuals may not always offer you a fair value for your jewelry. These drawbacks may end up with you getting a smaller amount than what your jewelry is actually worth. 
  • Online- If you are looking to sell expensive jewelry online, there are two ways that you go about it. The first among which is approaching an auction house, and proceeding with the sale through their channels. Now, this can actually be a better option than direct selling, since your items would be valued and appraised by a trained professional, and you can expect to get a fair price for them. These are reliable as well since the auction house would be acting as an intermediary, therefore reducing the risks involved. Although, by selling at an auction, not only do you have to pay an overhead auction fee but also risk the chance of getting a lower price than expected. 
  • To a professional jewelry buyer- Now, coming to the second option, and an actually good one. You can sell expensive jewelry online to these buyers by booking an appointment and they would get back to you within a stipulated period of time. These organizations and buyers provide a fair appraisal value for your items, something that is done by professionally certified and experienced appraisers. You can be sure of the fact that you would be getting a fair value for your jewelry or watch, reliably and safely. While looking to sell your items through this channel, do your proper research on midtown diamonds buyers, and select the one that suits you best. 
  • Pawn shops- Coming to our last channel for today, pawn shops are one of the most prominent establishments that have dealt with these items historically, but honestly, the valuations, appraisals, and quality of service that these establishments provide leave a lot to be desired. 

Final take:

It can be difficult to sell expensive jewelry online if aren’t aware of the proper channels. It is advisable that you do a quick online search to find a good midtown diamonds buyer, and get in touch with them to facilitate the selling process. 

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