Unlike the buy-low-sell-high stock market, when it comes to reselling jewelry, there are no rules or guidelines to know when the jewelry market is hot.

The jewelry market is incredibly fickle, so you cannot accurately predict when is the “right” time to sell. What you can control, however, is when you choose to resell jewelry. To help you increase your odds of making more from selling your jewelry, we explain how to identify when the timing is right for you to sell, trade, or keep your jewelry.

1. SELL trendy jewelry.
If your jewelry is the newest must-have trend, there is a narrow window of opportunity to sell it and make a decent amount back. Because tastes are likely to change on a dime, your piece of jewelry could soon become passé.

The exception to this rule are the pieces that are always en vogue including the Cartier Love Bracelet, a CHANEL C&C brooch and the Hermès Clic-Clac, Kelly, or Collier de Chien bracelets. These are designer pieces that have been coveted since they debuted decades ago and, although fashionable, are not exactly trendy. Therefore, do not mistakenly rush to sell them.

2. SELL when you’re ready.
Perhaps you’ve simply grown tired of a piece, or it doesn’t suit your style anymore. If you’re not excited about your jewelry anymore, sell it. Your jewelry is not likely to appreciate in value sitting in your jewelry box, so there is no incentive to hang onto something you don’t really wear.

3. TRADE if you have your eye on something else.
Jewelers and retailers (including TrueFacet) will offer you store credit when you trade-in your piece. Now, while you will not get the same amount as if you consigned it or sold it outright, the benefit to trading in your jewelry is you can apply the credit immediately—your piece doesn’t need to sell in order for you to receive store credit. Trading in is a smart option if you want to, say, upgrade your diamond engagement ring and already have spotted the new one you want at the same store.

4. WAIT if your jewelry is antique or vintage.
Do not rush out to sell off your grandmother’s earrings unless you absolutely need to. The value of fine vintage or antique jewelry doesn’t fluctuate greatly—in fact, older pieces may even appreciate in value. So, shop the piece around to different jewelers and hold out until you get a solid offer. Until you find a worthy buyer, have the item professionally cleaned and safely store it. For more tips on how to store your jewelry, check out our post here.

5. KEEP it if you still love it.
Never part with jewelry that still carries deep sentimental value. Even if you know you can get a good price for it, you will ultimately regret selling an item that means a lot to you. Moreover, even if you can go back to the jeweler and buy it back, you’ll end up having to pay the full resale price for it.

 

Photo by Whitney’s Wonderland.

When it comes to reselling or trading in your fine jewelry, many people worry they’re being taken for a ride and receiving far less than their piece is actually worth. To help you determine if you’re getting a fair price for your jewelry, we clarify the key factors that influence the resale value of your piece and shed light as to why that jeweler’s quote you just received is a fraction of what you originally paid.

The retail price is not the amount you will receive for your jewelry.
Perhaps the most common misconception about selling your jewelry is the expectation that you will earn the full amount of the listed resell price. The reality is that your payout will be less.

Why?

First off, just like driving a new car off the lot, your item immediately begins depreciating the moment you take it out of the store. So, even if you bought your bracelet just a few months ago, its value has already slipped. Factor in any wear-and-tear and the resale value decreases further.

And, more importantly, your received quote is less than the jeweler’s resale price because the jeweler is effectively placing a bet that they can resell your jewelry and make back their investment. If they cannot find an interested buyer, the jeweler is on the hook for that sunk cost.

Moreover, jewelers rely on that margin to keep their doors open and lights on; it would be bad business for them to resell the item at-cost.

But, if you hope to recoup as much of the resell price as possible, consider going the marketplace route and list your item on TrueFacet where sellers keep 85% of the resell price.

The cost of the gold per ounce does not necessarily positively influence the amount you’ll earn.
Logic would tell you that, if your weighty necklace is made with 18K gold, the gold itself (when melted down) is worth a pretty penny. Therefore, at minimum, your gold necklace should literally be worth its weight in gold, right?

Unfortunately, no. Pure gold is sold by the ounce, but karat gold used for jewelry making is sold by the gram. Therefore, you need to convert the weight of your jewelry from grams into ounces, roughly 31.1 grams per ounce. Furthermore, karat gold is made of pure gold and a harder, alloying metal, so only a percentage of the karat gold’s total weight (in ounces) is pure gold.

So, once you calculate all these weights and percentages, you’re left with value of the gold alone, which may be less than you initially expected.

All else equal, branded jewelry will fetch more than unbranded jewelry.
Shoppers generally prefer to have a luxury brand name attached to their jewelry. It’s not just a status symbol; the respected designer name gives shoppers the added assurance that the item is made of high-quality materials by the world’s leading craftspeople. Therefore, a brand name will increase the resell price of your item.

One thing any jewelry seller should remember is that just because a particular item carries sentimental value to you, its resale value is based on an objective appraisal. Unless its documented past owners were celebrities or historic figures, the piece’s personal history is not likely to inflate its cost.

With all this in mind, if you suspect you’re being under-quoted, have your pieces appraised by a handful of jewelers. This will give you a better idea of the market value and peace of mind that you’re being quoted fairly.