Do you need quick cash or are you looking for resources to finance a project? If you have gold jewelry (rings, bracelets, necklaces...) that you no longer wear, selling it could be the solution. The current price of gold is particularly conducive to transactions! But who should you contact and how can you ensure the reliability of your buyers?
Is it possible to sell your jewelry in a jewelry store?
It is possible to sell your jewelry in certain jewelry stores. Unlike gold counters, which accept pre-owned jewelry for their gold weight only, jewelers will take into account the goldsmithing and the jewelry quality of the ring or the vintage bracelet you are offering in their valuation. However, not all jewelry stores offer gold buyback.
Furthermore, you generally won't find the expertise of a gemologist or historian in traditional jewelry stores. However, when it comes to selling antique jewelry, sometimes family pieces, only in-depth knowledge of gemology and jewelry history allows for an accurate valuation. Buying antique jewelry requires assessing its condition, the value of the metal and stones, its rarity, and any master signature.
Among the jewelry stores that offer the purchase of 18-karat gold jewelry, some will only provide an estimate based on the gold price, thus differing little from simple gold counters.
Traditional buyers
To sell your pre-owned gold jewelry, you can turn to traditional players in the gold and jewelry buying industry, namely auction houses and second-hand dealers. Some second-hand dealers specialize in antique jewelry and may be interested in your rare and vintage pieces. But it's not always easy to know who to contact when you're not familiar with the industry. Some specialized second-hand dealers only buy pre-owned rings from major jewelry houses like Cartier, Chaumet, or Mauboussin. You should also be wary of certain practices that offer a very attractive buyback price for gold (sometimes higher than the current price), while at the same time undervaluing the diamonds in the jewelry.
At auction houses, appraisals are generally paid for, outside of the appraisal days organized occasionally. The auction can be advantageous or disadvantageous, with no predictable outcome. Aside from the reserve price, nothing is certain about the process and outcome of the sale!
Factors to consider when buying back your jewelry
The question of price is obviously central if you want to sell pre-owned jewelry. Having an appraisal done before the sale will give you an idea of what your antique ring or vintage necklace could fetch.
Be careful, you must clearly distinguish between the purchase price and the value, since your buyer is also a reseller. If repairs are necessary on the jewelry, their cost will be added to the margin. Depending on whether your jewelry is damaged, is not set with stones, or does not exhibit particular goldsmithing qualities, it may be sold at its weight in gold only, with the aim of being melted down. On the other hand, if it is an antique piece of jewelry in good condition, original and set with stones, its value can be considerably increased, even with a lower gold weight.
The reputation of the establishment you are using to sell your gold jewelry is often a guarantee of its reliability. It is indeed very important to use a trustworthy company, especially for selling your gold online. Serious establishments will only perform online appraisals with precise information about the jewelry: brand, model, category, certificates, purchase invoices, and photos. The transaction must then offer you the most secure conditions for shipping, payment, and legal right of withdrawal.
To be sure not to sell an antique or second-hand piece of jewelry whose jewelry value is much higher by its weight, choose a buyer who has comprehensive expertise: in gold buying, art history, and gemology.
A second-hand jewelry store since 1985, Gemme has unique expertise in the sale of 18-karat gold jewelry from all periods and styles. Our expertise in gemology as well as ancient and contemporary jewelry art allows us to accurately appraise your jewelry and its stones, regardless of their condition. Our appraisal is free and without obligation, and our offers are payable immediately, both for our in-store transactions and for buying back your jewelry online.
Would you like to sell your gold and jewelry in Villefranche-sur-Saône? We will be delighted to welcome you to our new Comptoir Gemme.
To learn more about the rules for taxing inheritance and gold possession, read our article.
