Best Places to Get the Most Money
Do you have jewelry you no longer want or need? Perhaps you have a few pieces that you want to sell to earn a little extra money, and knowing where to sell your jewelry can help you get the most money for it. Many websites will buy your jewelry, but some are better and faster than others.
Choosing the best option will depend on several factors, including how fast you need the money and what jewelry you’re trying to sell.
Best for: Best Overall
Worthy is an online platform dedicated to helping you sell your diamond rings and other jewelry. You can either mail your diamond ring and other jewelry with free FedEx shipping, or drop it off at select Worthy locations around the U.S. Your shipment is fully insured by Lloyd’s of London.
Your jewelry is graded, and Worthy prepares your item for auction. Diamonds undergo the industry-leading GIA appraisal, and Central Watch in New York City appraises watches.
Worthy lets you set a minimum price, and some items may qualify for a price guarantee. Seller fees start at 18% for items that sell for $5,000 and can be as low as 10% if your item sells for more than $30,001. Your payment options are direct deposit, PayPal, and paper check after your item sells.
| Winning Bid | Fee |
|---|---|
| Up to $5,000 | 18% |
| $5,001 – $15,000 | 14% |
| $15,001 – $30,000 | 12% |
| $30,001 and above | 10% |
Worthy has auctioned off millions of dollars in diamonds on its platform and has experience selling fine jewelry priced in the hundreds of thousands of dollars.
The company is a big player in the space, can move quickly (big auction houses may take at least 6 months) and may have lower fees – plus you only pay a fee if the item sells.
It’s possible to sell these fine jewelry items on Worthy:
You may be able to earn more with Worthy than selling locally because you get access to over 1,000 motivated buyers. However, how much you make can be unpredictable as you won’t know if your auction will attract few bids or become very competitive. That said, you can look at recent listings to get an idea of how much you can make at auction.
To learn more, read our full review of Worthy Jewelry.
Best for: Quick appraisals
Cash for Gold USA is one of the best places to sell gold, silver, or platinum jewelry online. You can even sell dental scrap when it doesn’t contain bone or porcelain. The minimum karat for gold jewelry is 8k.
You can ship your items to them for free via FedEx, and they include insurance up to $5,000. Cash for Gold USA provides an appraisal within 24 hours of receiving your jewelry. You can accept the offer and receive payment by check, bank wire, or PayPal.
Cash for Gold USA mails your jewelry back for free if you decline their offer.
Best for: Broken jewelry
Cash for Diamonds USA is the sister site to Cash for Gold USA. CJ Environmental Inc., a self-described leader in precious metals refining, is the same parent company for both platforms.
You can get free shipping and an appraisal within 24 hours. The appraisers use the industry-leading GIA appraisal standards. The carat, clarity, cut, and color of the diamond determine how much you make.
Cash for Diamonds USA returns your jewelry for free if you reject their offer for these diamond pieces:
Your diamonds can be any size, and broken jewelry doesn’t lower the appraisal value. This merchant can be a good alternative to visiting a local gold and diamond exchange store.
Best for: Fine jewelry and watches
Fine jewelry and watches are two of the many items you can sell on The RealReal, an online luxury consignment shop. You may prefer this option if you don’t want to sell your jewelry in an auction but want a better price than what precious metal recyclers offer.
TheRealReal sets the sales prices using data points from recent sales of similar items. You keep up to 70% of the sales price for jewelry that sells for $750 or more. Watches selling for at least $2,500 let you pocket 75% of the final value price.
Best for: Valuable jewelry
Sotheby’s is the best option for selling rare or highly valuable jewelry. You can sell your gold and diamond pieces at auction or privately. The best choice will depend on the estimated value of your jewelry.
Sotheby’s requires you to send pictures of your items for a preliminary estimate. If your jewelry meets their standards, a specialist will appraise and sell it for you.
Selling your jewelry to a local buyer is likely your quickest option. You can visit your local jewelry buyer and walk out with payment. If you don’t like one local offer, you can easily compare rates with another local store or try selling your jewelry online.
Local jewelry stores will often buy used jewelry. This should be one of the first places to consider (locally) because they may be able to give you the best price. You’ll also want to stick with locally owned jewelry stores as they are more likely to provide you with cash rather than store credit. They don’t always have the best price, though.
Much like how you can get more items on eBay than at a garage sale, local supply and demand sometimes affect how much you get for your jewelry. It’s convenient, but you may not necessarily get the best price. Most local places want to sell that jewelry, so they consider that.
Check out the American Gem Society for local stores that buy jewelry.
Even if your town doesn’t have a fine jewelry store, it likely has a pawn shop.
Jewelry stores will only buy high-demand items like necklaces, gold rings, and diamonds. But pawn shops will buy pretty much anything, including specialty pieces like watches, costume jewelry, and trendy collections such as Pandora.
You will not get as much for your jewelry at a pawn shop as at a local jewelry store. Pawn shop shoppers expect ultra-low prices, and the buyers need to account for some profit margin for themselves.
However, jewelry stores and pawn shops should appraise your gold jewelry using the current London Fix prices.
You’ve probably seen store signs stating, “We buy gold” during your daily commute. These signs are usually for gold and silver exchange stores.
The good news about exchange stores is they accept almost anything with precious metals and diamonds. You can even sell gold bullion and collectible coins for cash. This option can also be an excellent alternative to pawn shops, so comparing offers is worth the effort.
Gold exchange stores will likely pay you the scrap value for your gold, diamonds, silver, and platinum.
Scrap value is less than the market value for the jewelry piece, as the buyer is likely looking to melt your jewelry down to make a new piece. However, upfront payment can be better than finding a buyer who wants to expand their Black Hills Gold collection.
Call and compare the purchase prices if several exchange stores are in your town.
You can always try selling your jewelry yourself to make more money. Jewelry stores and pawn shops must pay you a low amount so they can profit. It’s free to list your items on Craigslist, Facebook Marketplace, or selling apps, and you can charge less than your local stores.
Getting an official appraisal for your jewelry can help you earn more money, as you can verify its authenticity. The appraiser should also tell you its fair market value.
Whether you sell your jewelry locally or online, here are some suggestions for getting the most money for your gold and diamonds.
Any legitimate jewelry vendor will appraise your jewelry to make an offer. While many vendors are trustworthy, you should get an independent appraisal first to compare appraisal values.
Many jewelers provide free appraisals. However, you may need to pay several hundred dollars to receive an official report to keep for your records.
Knowing how much your jewelry is worth gives you a better idea of where to sell it. For example, you may try selling valuable pieces at an auction. However, to make money quickly, it may be better to save time and sell lower-quality jewelry for scrap value.
You should know as much about the jewelry you’re trying to sell as possible. The more details you know, the better idea you’ll have of the material and market value of your jewelry.
Pay attention to these appraisal details:
There are plenty of places to sell jewelry locally and online. How much you make depends on the quality of your piece and where you try to sell it. Getting multiple quotes from online and local merchants can help you find the best price, so do your homework.
If you need help selling other stuff, this article explains the best places to sell your non-jewelry items.
Having official papers from the manufacturer or the original proof of purchase proves the piece is legit and will help you fetch a higher sales price.
Source: The College Investor Warren Buffett, with a net worth of approximately $151 billion, has pledged to donate 99.5% of...
Lunch Money Product Name: Lunch Money Product Description: Lunch Money is an easy to use budgeting app that allows you...
(Bloomberg) — BlackRock Inc. is nearing a deal to buy HPS Investment Partners, a purchase that would vault the firm...
