After You Sell, Where Does The Jewelry Go?
What do you do with jewelry you buy? This question is all too common among my clients. The short answer is I sell it.
This blog article is the first in a series meant to better inform you about the secondary jewelry market.
For the record, all the jewelry I buy I (at least) try to sell. SellMy.Jewelry is a business attempting to make a profit, and we do that through buying and selling jewelry. While I buy from you, I sell jewelry in many outlets. In this series of blog posts, I will shed some light on where I sell, why I sell, and how I determine where to sell jewelry.
One of the most difficult parts of my job is determining where to sell the jewelry I buy. Being familiar with good resale outlets allows me to offer you more money for gold and diamonds because I can resell the jewelry profit for a higher mark. Over the years, my family has tried and retried different outlets in order to help you maximize your value.
This blog is meant to introduce how I resell jewelry. I will not go in-depth for each but provide an overview of the process and the outlets that exist. The exact outlet depends on the piece of jewelry and its condition.
Our main outlets:
- Other individuals
- Gold and platinum refinery
- Other diamond brokers
Perhaps our biggest advantage of most jewelry buyers is access to our state-of-the-art custom shop where we design and custom-make jewelry everyday. This shop also allows us to break down jewelry into its pieces, which helps us pay more for your jewelry.
The jewelry shop allows us to complete two tasks. First, we also can restore and refresh jewelry in order to make it appeal to a buyer. Beautiful antique or estate rings or pendants or necklaces should not go to waste. While you maybe selling an item, another will be buying. Often times, restoring these items can be difficult especially if a less experienced jeweler has worked on them in the past, but we do it frequently. Unfortunately, restoring jewelry is not easy and can be extremely time consuming especially for a shop like ours that does so much repair and custom work. However, we love antique jewelry. It is often a testament to the time in which it was created, so we hate to lose it. The second advantage of the jewelry shop is the ability to break pieces down. Most jewelry buyers do not take this step. They refine all jewelry meaning they pay you for what they can sell, which is just the metal. However, your diamonds have value too. Breaking out the diamonds and gemstones allows us to sell those pieces individually and for more money.