How to Sell Your Used Jewelry for Cash

Jewelry is a pretty common gift, but like with other types of presents, itís not necessarily something you want to hang onto forever. You also might need a little extra cash, and digging through your jewelry box is a good place to start. But should you go to a gold buyer or hit up a pawn shop? How do you know if youíve secured a good price, or have been ripped off? Hereís how to get the best prices for your shiny goods.Cheap Jewelry Sites

Before you get too excited about raking in the cash, itís super important to ground your expectations in reality. You may have an heirloom diamond necklace that belonged to your eccentric great aunt Mimsy, but to everyone youíre selling to, itís just a necklace (and that diamond might not even be real). As Howard Rubin of the National Association of Jewelry Appraisers explains to the LA Times, itís exceptionally rare to sell a secondhand piece for anything close to its purchasing price.

Rubin also notes that a piece of jewelry wonít sell anywhere near an appraised value for insurance purposes either. Those appraised values are based on the retail cost of replacing the item, including profit for the manufacturer, wholesaler, and retailer. The actual amount youíll get for your jewelry depends on a lot of different variables, including beauty, rarity, where it was bought originally and the materials that make up the item. Rubin cautions that you should never try to sell jewelry you really like, unless youíre desperate; thereís probably no profit to be had. Most people that are willing to buy your used jewelry are trying to make a profit themselves, so keep that in mind.