If you’ve gone to a jeweler to sell jewelry, their lowball offer might have shocked and scared you from the get go. And rightfully so. I mean you paid a lot for this, so why are they devaluing it?
The reason for this is because the jeweler is offering you the wholesale price. When jewelers buy pieces, they pay wholesale values to the manufacturers. So they aren’t willing to pay above that to procure your one piece. But don’t worry, you have other options to explore.
You can try and sell jewelry yourself. Here are a couple of tips to selling your jewelry yourself that your should keep in mind:
1. Have your jewelry appraised. This way you will know what its worth and be able to price it attractively. For help on appraisals, contact us at suppert@truefacet.com
2. Start by pricing the piece off at 25-35% off retail value. Unless you’re selling a limited edition or exclusive piece, the only reason someone will buy a piece from you instead of a brand new one at the store is cheaper price.
3. Contact your social network first – friends, family, business associates. Hopefully they trust you and might secretly envy those beautiful earrings you wore last Christmas.
4. Be careful with any ads you run. You will be contacted by a lot of fraudulent offers from deceptive buyers. Verify and cross verify bank references and PayPal accounts.
5. Meet buyers at a secure location that is NOT your apartment or theirs. Do not disclose your address or the location where the piece is stored. Agree to meet at a bank or any other secure but public place.
6. You can place your piece on consignment with a trusted and reputable jeweler. This means they’ll hold on to for a period of time and you’ll have to pay them a portion of the selling price; anywhere between 30 – 50%.
TrueFacet accepts pre-owned pieces. For more information contact us at support@truefacet.com