Digging into your jewelry box and selling your preloved pieces is actually a good idea when you’re strapped for cash. A better idea would be to do your homework and discern the best way to liquidate them.
Prepping Jewelry for Best Selling Price
Do you go to a jeweler, a pawnbroker, or a diamond dealer to sell your item quickly without bothering about marketing? Or would an online auction like eBay or OLX help you get a higher pay? If you do things wisely, you might actually end up getting the best selling price for your preloved jewelry.
Just before the excitement gets to you, it would be best to ground your expectations to reality. An heirloom diamond, for instance, could mean less to a potential buyer considering pre-owned jewelry is, by and large, not as valuable as any new item.
So, before rushing to a pawnshop or an online marketplace, here are some pieces of advice to keep in mind to get the best price possible for your collateral.
- Get an accurate assessment of your jewelry’s quality and authenticity. However, remember that it is exceptionally rare to sell a secondhand piece for anything close to its original purchasing price.
- In determining your jewelry’s rough estimate, it’s a must to know its carat weight, color, clarity, and cut to identify its actual market value.
- To get an honest appraisal of your jewelry, seek the help of a professional diamond shopper or a pawnbroker. To get a full range of opinion, consult at least 2 to 3 shops to have a solid grasp of your item’s specifications and state.
- Preparing your item for sale comprises restoring it to fetch a decent a price. Soap dish, warm water, or salt can put the luster back in that heirloom, but make sure not to damage it. If your item needs repair, leave it to the hands of a professional. After you’re set to let go and sell it, let a pro take a last look at it.
Top Places to Sell Jewelry
Determining the best way to sell your jewelry is the last step. Resellers can either sell it to a jewelry store, a pawnshop, or to the public through online auctions.
- Pawnshops. In the Philippines, pawnshops have been the most popular option when it comes to meeting short-term cash needs. However, note that some pawnshops can give a crapshoot price and will unlikely give you a decent deal. If you need cash fast, a pawnshop is the best in overall speed.
- Online. You may also decide to sell your item to the public who are willing to pay more since they’re looking to save on retail but can’t access wholesale prices. The tough part, though, is finding the right buyer.Fortunately, you can rely on various social media sites like Facebook, Twitter, or Instagram when you decide to sell your jewelry, especially since almost everyone is present on the different networks now.
- Buy and Sell Platforms. In the Philippines, good online platforms include OLX, which isn’t as organized and moderated as one would hope but comes up doing a good Google search; Ayosdito.ph, whose site is easy to understand; and eBay.ph, a huge name in online auctions even locally.
Of course, PawnHero — the first online pawn shop in the Philippines and South East Asia — is a fast, safe, and convenient place to pawn. If you need cash fast, you can trust PawnHero to give you a free and fair estimate of your jewelry piece and pawn it safely. Unlike traditional pawnshops with limited operating hours, the services of PawnHero are available 24/7.
Download the app on Google Play today to experience hassle-free pawning. You can also check out PawnHero’s quick 3-step method in pawning or selling to get the best selling price on your preloved jewelry today.