After the holidays is a great time to clear out the clutter in your home, donate old clothes and children’s toys, and potentially sell some of your more valuable items. The influx of gifts can start to make things feel cramped in your closet, cupboards, and your jewellery box. For those who like to keep their homes minimalistic and their storage solutions tidy, decluttering can make a huge difference for your mental health.
Thanks to online marketplaces, you don’t have to wait until the summer to sell old furniture or electronics at a garage sale. While you can sell jewellery online, too, there may be better options that will get you a better price or help you sell it faster. These are some of your best options for selling old, broken, or simply unwanted jewellery.
Precious Metals Buyers
Jewellery buyers are often going to be your best option if your jewellery is made from gold or silver. Precious metals buyers are interested in buying bullion no matter where it comes from. They’ll purchase items like jewellery, coins, bars, flatware, holloware, and other items made from precious metals.
One thing to note is that some precious metals buyers are not interested in gemstones. If they’re not paying for the gemstones, you may want to keep them.
Precious metals buyers will do one of two things with the jewellery that they purchase:
- Resell designer, vintage, or antique jewellery, if they believe there’s a market for it.
- Recycle the precious metals, especially if the piece is broken or if there is not much of a resale market.
Not all precious metals buyers are made equally. Some buyers, including Muzeum, a precious metals buyer located in Yorkville, Toronto, have a robust market for designer jewellery and collectables. You may be able to get better prices than simply melting down and recycling the jewellery.
Either way, you’re likely to get the best price for it with a jewellery buyer like Muzeum, though there are other options.
Selling Jewellery Online
Today, you can sell just about everything through online marketplaces. Jewellery is no exception. Some tips for using an online marketplace include:
- Take high-quality photos of your pieces.
- Detailing the precious metals content of each piece of jewellery.
- Meeting at a safe, public place when you conduct the transaction.
When you sell jewellery online, you may not always secure the best price available. It’s wise to obtain quotes from precious metals buyers before finalizing any online offers.
Pawnshops
Pawnshops often come to mind first for those looking to sell jewellery, but they are among the least reliable options for getting a good price. When you sell jewellery online, you’re likely to avoid the notorious undercutting common in pawnshops.
They can be especially bad when it comes to selling collectables or high-end items like designer jewellery. They know that collectables have low liquidity, and it can take a long time to find a seller willing to pay an appropriate price.
Most precious metals buyers can provide you with fast payments, especially if you sell in person, and usually at a much better price than a pawn shop.
