Balboni Custom Jeweler, LLC

• Pawn - if you need cash fast, this may be your best option to sell your jewelry however it will most likely yield the lowest price.

• Local Jeweler - many people that have sold their use jewelry have to come to me with stories of insulting low-ball offering prices from jewelers when they try to sell their jewelry.  I'm not trying to stick up for anyone or berate anyone but, you have to look at if from a business point of view. 

First ask yourself "why should they buy my jewelry when they can buy at wholesale"?  If a jeweler can't make money there is no business, period.  (Keep in mind there is a lot of paperwork required when buying from the public for accounting and legal reasons.) 

However, I have found that many of these offers are ridiculous.  Jewelers want to buy your jewelry at much less than wholesale so they can turn an even bigger profit.  In my opinion, a fair offering would be a little less than the jeweler would pay a supplier at wholesale.  The reason I say a little less is because no matter how good the condition of your jewelry, the jeweler needs to almost always touch it up with minor repairs then clean and polish it to make it look its best.  That would level the playing field for everyone on both sides of the transaction.

• Sell it yourself:  
  

1.  Friends and relatives - unless they really want what your jewelry this becomes a very narrow and unlikely source. 

2.  Newspaper ads and the internet  - can be very difficult to accomplish due to a lack of trust.  Examples would be, no reputation to check out, such as when buying from a jewelry store and no one to verify legitimacy, etc.). 

In addition, people want a real bargain and usually will not pay a private individual anywhere near what they are asking.  Two of the problems are:  1.)  Most people are unrealistic in their asking prices.  Through no fault of their own, most people don't have a clue to what the secondary market will bear.  In addition, sometimes there are emotional factors attached to the piece which prospective buyers could care less about.  2.)  In many cases, prospective jewelry buyers are being unrealistic in their offering prices because they are trying to get something for nothing.

• Auction (live - in person or on the internet) - very difficult to get a good price for your jewelry.  Again, people are looking for a real bargain (usually below wholesale) plus you have to pay a premium to the auctioneer.

• Consignment - almost always your best bet to sell your jewelry if you are not in a hurry for the money. (Second only to selling it yourself.)  If you sell your jewelry through an experienced jeweler, they will work with you to set a realistic selling price.  Keep in mind the jeweler will get a reasonable commission for their efforts and that commissions vary from jeweler to jeweler.  So what do you get in return for paying a commission? 
  

1.  The jeweler has access to an established customer base which greatly increases the chances of selling the item. 

2.  They will market your jewelry through all the channels they market their own jewelry. 

3.  They can answer any questions the customer may have about the quality of the item much better than you can, especially if there are gemstones in the item. 

4.  Since jewelry is their life they will be much more accessible to the customer than you could possibly be. 

5.  They will know all of the fine selling points of your jewelry. 

6.  Since they are being paid to sell for you, they will be motivated to get the highest price possible for your jewelry.  Its a win-win situation for both you and the jeweler.