What is the best way to sell old jewellery?

Making the decision to part ways with your jewellery is not always the easiest and it can be overwhelming deciding which avenue is best. In a time when selling has never been easier, you have the following options:

• Auction
• Selling Online
• Private Buyers
• Jewellers & Pawnbrokers

This guide will take you through some of the different options that may be available for you. 

Auction 

Auction houses present a traditional option for selling your jewellery. They have a wide range of clients and can specialise in unique and high-end pieces. Using their expertise, 

an auctioneer will be able to provide an estimate for your jewellery based on what they believe it could realistically achieve. The items will then be entered into auction and sold to the highest bidder (providing the reserve price has been met). This encourages competitive bidding which could lead to an increased price. That being said, there is no guarantee of achieving your desired price with this method or even the item selling. Some auctions may even charge an unsold lotting fee. If the item does sell, the auction house will take their fees and commissions out of the value achieved. Each auction house has different fees and commissions, but they typically charge the seller 15-20% of the hammer price, whilst charging the buyer a further 25-30%. Therefore, although auction houses present a high level of exposure and expertise, there can be a lack of control for the seller which can be off putting to many. Selling via auction also requires a degree of patience as most auction houses do not pay their vendors until at least 28 days after the respective sale date.

Selling Online 

Within the 21st century it has never been easier to sell your jewellery yourself using online selling platforms such as eBay. This method presents an opportunity for you to set your own prices ensuring you sell the item for what you are expecting. However, this is sometimes easier said than done as you may not be entirely sure how much value your jewellery holds. It is best to do some research beforehand. Looking at sold prices for similar items gives you an idea of what to list them for. In addition, selling items is a time-consuming process and there is no guarantee of when the sale will happen; it could be an instant purchase or you could be waiting several months for someone to inquire. Many platforms also take fees and commissions which you should account for when thinking about how much you would want to achieve for your jewellery. 

Private Buyers 

Selling your jewellery to a private buyer is a great way to set your own price and avoid any fees or commissions. However, it is not always easy to find someone to purchase your jewellery, especially when you have unique pieces, making this option difficult to achieve the exposure your pieces may deserve!

Jewellers and Pawnbrokers 

Your local high-street may have a jeweller or a pawnbroker that will make you an offer for your unwanted jewellery. This can be advantageous as they have their own buyers, enabling them to make an offer for your jewellery which you can choose to accept or decline, providing a quick and easy transaction. Some firms will offer you the payment up front, however, lots offer a consignment process meaning you will have to wait for your jewellery to sell before receiving the payment which, again, there is no guarantee of the items selling. Some firms will offer you ‘Cash for Gold’ meaning they will make an offer based on the weight of the metals in your jewellery as opposed to the piece itself. In addition, you may not live close to any of these retailers, making it an inconvenient option, whilst some may charge extra for a postal appraisal service.  

Our Appraisal Service

At PM Antiques & Collectables, we will offer a price up front for your jewellery. If the price is agreeable, payment will be made instantly, ensuring a fast, hassle-free sale. Our team of friendly experts have a wealth of experience appraising different types of jewellery and are able to assist if you are unsure about your item’s value. All our offers are no obligation, therefore, if it was not what you were looking for, you can take the items back completely free of charge. This is a great way to sell jewellery if you do not have the time or expertise to sell yourself and would like a quick and seamless transaction. 

Find out more how much your jewellery is worth.

Written by Krista Palmer-Preece of PM Antiques & Collectables