It’s a common issue to end up with jewelry that you have no interest in wearing. Maybe you received a gift but it’s not really your style, or maybe your jewelry broke but you don’t find it worth fixing. Whatever the reason, there’s no point in letting it sit in your drawer indefinitely. You might as well get some cash from it to use for more important or fun things!
Does It Still Have Value?
If you no longer want a piece of jewelry yourself, (whether it be broken, outdated, etc.) it may be hard to believe that anybody else would even think to buy it from you. But as long as precious metals and gems retain value, and they always will, then there will be someone out there who’ll see it as a golden opportunity and gladly take it off your hands.
Knowing the Market
Depending on the materials that make up the jewelry in question, you need to look up the current value of those materials so you have a general ballpark of its true worth. Although precious metals will always hold value, that value still fluctuates in accordance to what’s in demand at the time. For example, many people invest in gold, silver, and platinum when the stock market is looking strong because that’s when the price of metal is lower. People may be less likely to buy your jewelry while metal prices are higher.
According to an article by Yahoo! News, “…the price outlook for metals remains very positive looking towards 2025, with further demand stemming from the electric vehicles energy transition.” With this information, we can then look to this list of precious metals used in electric cars:
- Silver is able to conduct electricity
- Cobalt assists with the car’s recharge rate
- Gold also conducts electricity and is especially used in circuit boards
- Lithium contains ions that allow the transfer of energy
*data sourced from Jerry
By conducting research like this beforehand, you can see if the item you own goes along with current trends and demands so you’re less likely to sell yourself short. If what you have is valuable, then you can treat it as such with more confidence.
Knowing What’s Valuable
Before officially putting your piece of jewelry up for sale, you should look up the most recent pricing records so you can at least have a starting point for negotiations. For instance, if you own a gold bracelet you’ll need to look up the current price of gold so you can put up a fair deal. Buyers will be less likely to try and swindle you if you have an idea of what you’re talking about, such as the properties of gems like the carat, cut, clarity, and hue, all of which influence its worth.
Selling Broken Jewelry
Even if the jewelry you’re wanting to get rid of is broken, you can still sell it because metals and gems are valuable regardless of what shape it’s in. Given to the right people, it can either be fixed or repurposed into something new. A skilled jewelry appraiser will be able to determine the quality of the material and weigh it for a fair and proper estimate.
Tips for Getting the Best Price
Now that you know your unwanted or broken jewelry holds value, how can you get the absolute best price for what you have? There are many factors that influence your final listing price such as the condition of the piece, who you turn to, and how you handle the transaction. Follow these steps to get the most bang for your buck:
1. Know What You Have
As mentioned earlier, knowing the value of what you own is essential in getting a fair offer. Even a rough idea of what it’s worth will keep you from getting the short end of the stick. Even if you take it somewhere to get appraised, showing that you have general knowledge of your item will discourage your appraiser from being untruthful for fear of being exploited.
2. Make It Pretty
The base appearance of your jewelry has an immediate effect on how much it’s worth. If someone presented you with a shiny necklace and a dull bracelet, it makes sense for you to be more drawn to the sheen of the necklace. That’s why it’s incredibly important to make sure your jewelry looks presentable and there are effective processes to accomplishing this. Different types of metals may require different cleaning methods, but most of them are fairly easy and simple.
Gathering all of the original packaging along with any additional pieces or accessories that came with the jewelry can be tacked on to the final price, so it literally pays to rummage the house for anything you can find!
3. Find the Right Buyer
The amount you get for your jewelry highly depends on the person buying it. It doesn’t matter if your item is worth a certain amount, not everyone is going to pay fairly. Take your time in finding someone who understands how to objectively judge the value of metals and gemstones. Oftentimes buyers online will give you the worst possible deal because their single goal is to either buy cheap or make a maximum profit from reselling. It’s also hard to trust the validity of users online because it’s easier to fake your skills and credentials. Jewelry stores are also unlikely to give you a good deal because broken or old jewelry is not in their best interest since they make most of their profits from selling brand new jewelry.
If you can’t turn to online buyers or traditional jewelry stores, where is the best place to sell your jewelry? Pawn shops are more ideal because reputable places typically have skilled jewelry appraisers and their entire industry is based on dealing secondhand treasures and antiques. Pawn brokers are more likely to fully appreciate your jewelry for its true face value and the personal story behind it.
4. Negotiate the Value
No matter where you go, pawn brokers in general love to negotiate. It’s practically expected when visiting a pawn shop. As long as you have knowledge of your jewelry beforehand, you can effectively influence the price to a reasonable amount and walk away satisfied with your decision. If you’ve never negotiated before and aren’t quite sure how to go about the process, you can look up some helpful negotiating tips to educate you before your trip to the shop.
Pawn Shops in the San Gabriel Valley
Finding a trustworthy pawn shop to sell your unwanted or broken jewelry can be a process on its own. If you live in the San Gabriel Valley, you can stop your search because Azusa Pawn is the best place in the area.You can bring in any of your jewelry, including watches, and choose between a collateral loan or straight cash. Visit the shop any time at 1028 West Gladstone Street in Azusa or call ahead of time at (626) 334-2274 to speak with an expert for any questions about your jewelry.