Best place to sell jewellery?

(12 Posts)
winkywinkola Wed 02-Jul-14 23:54:53

I have a diamond ring that I would like to sell.

Dh says I won't get half of what it's worth.

I've no idea how to go about selling it.

Can anyone point me in the right direction?

Preciousbane Thu 03-Jul-14 00:15:21

You will get hardly anything for it and your D is right recently tried selling one, decided to keep.

Options are
Private sale to someone who wants your ring on something like ebay
A jeweller, get quotes from two or three
A gold trade centre
Pawnbroker

None are great tbh. Sorry.

winkywinkola Thu 03-Jul-14 08:18:24

Oh. I see.

So how is jewellery 'valuable' then if its resale worth is not much?

I don't understand.

OneLittleToddleTerror Fri 04-Jul-14 04:10:01

Well it is a con. Think of it like a very expensive dress.

winkywinkola Fri 04-Jul-14 10:16:00

Right. I will remember that it's a con.

MirandaWest Fri 04-Jul-14 10:18:46

The problem with jewellery is that you can pay what feels like quite a lot for it, but if it's a common style (like my diamond solitaire engagement ring) then the market is flooded with them and so no jewellers will buy them. Am considering selling it for the gold only which I at least know will get something grin

Heathcliff27 Fri 04-Jul-14 10:21:33

Most places will only give you scrap value for jewellery, not whats you think its worth. It goes by the weight of it as well.

angel1976 Sat 05-Jul-14 20:58:46

Is it antique or modern? If antique, you can take it to an antique jeweller's and they will buy it if they like it. If not, best place is to flog it privately... I sold my antique engagement ring to an antique jeweller's but for less than half of what was paid for it. My modern wedding ring sold for £35, to a pawnshop. sad

kimmy121 Fri 11-Jul-14 21:41:52

I work for a jewellers. the easiest way to explain the value of jewellery. ..

if a new ring costs £200
50 to 60% of what you pay is the profit the seller makes (£100 to £120)
20% vat? or 17.5 depending when it was bought.
5 or 10% is manufacturers wages/costs

overheads, shipping, presentation etc has to be covered
then you're left with the metal and stone costs.
gold 9ct is approx £9.50per gram, so a small dress ring might have £20of gold. this is usually all the high st jewellers and pawn shops will pay for.

I would NEVER buy new jewellery.....

winkywinkola Fri 11-Jul-14 22:59:46

Kimmy, that is really informative. Thank you.

So the top tip is to always buy second hand or antique jewellery?

Mil says she's leaving all her jewellery to the gcs in her will. She reckons it's worth £100k but for it to be worth that, it seems she'll have to have mountains of the stuff!

Polyethyl Fri 11-Jul-14 23:10:01

Try an auctioneer.
But some one described selling jewellery as trying to sell a ferrari and being offered scap value.

Insurance value is utterly different from selling value.

mimosaadorna Sun 27-Jul-14 17:07:02

Speaking as a working jeweller, my advice would be, get a nice jeweller to remove the diamond for you, and keep it, to have it made into something nice later - I charge £15 for this service, it shouldn't cost more. Then trade in the gold - shop around to get the highest price - so you have a bit of money from the metal, and the stone to make into something nice later smile

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