Selling second hand jewellery

[Messen]

I have some jewellery I never wear and want to sell but my previous experience of selling an engagement ring has put me off and left me flummoxed on how to do it.

Items are from a well-known ‘romantic jewellery’! brand and probably cost anywhere between £70 for a couple of items up to nearly £1000 for a few of the others.

there is also a watch which I tried to sell to watch finder but they said they didn’t want it :(. It’s a large top-end luxury clothing brand and is still retailing for about £2.5k.

Any ideas? EBay seems out as even with their verified service thing I think buyers can still claim item not as described/ item not received.

FB Marketplace is just a hard no. I can’t be dealing with the security risk and the endless ‘my brother will collect it and give you cash in an envelope’ nonsense.

Chrono 24 has an escrow system but there are reviews saying sellers/ buyers have been defrauded etc.

Are there any auction houses people have used which don’t charge absolutely ridiculous fees?

I’m aware this is a very first world problem btw.

Go to an independent high street shop and try.

I took it all to a reputable independent Hatton Garden place and they didn’t want any of it. But maybe I can try my local high street :/

You need to take it to a shop that sells 2nd hand Jewellery, but be prepared for a shock you will get about a quarter of what its worth, no where near the price you paid or the retail value.

They usually price up using the scrap value.

Did they value it?

You've referred to how much everything costed, but if it's the "well-known ‘romantic jewellery’! brand" I'm thinking of, most of the cost is the branding rather than the inherent value of the jewellery.

@Messen I sell all my jewellery on Vinted. Works well for me and it's a good time to list at the moment because of Christmas present time looming.

@needapokerface yep, that was my experience of seeking a diamond ring :/

@DogInATent nope! They were just quite rude to be honest, very dismissive. I’m sure you’re right about the second hand value. Luckily I didn’t pay for it as such but was hoping to get something for it.

Might be better off keeping it and giving it to my kids, with the exception of the watch. I think if I could shift that I might get £900 or so for it. Still sucks though.

People, do not spaff money on jewellery! It’s basically valueless!

*selling.

Maybe I’ll just bung it all on FB marketplace and be damned 😂 Not really, that would be madness.

Specialist Jewellery auctioneers? Free valuation but you will have to pay commission. They sell watches and jewellery in Birmingham, London and online. I’ve used the Birmingham one and was all very simple.

https://www.fellows.co.uk/

Jewellery isn't worthless, just some jewellery (usually brand name) is almost worthless so you need to know what you're doing and where the cost/value is The trade value the precious metal and the quality of the gemstones so depending on the nature of your items, they might have no value to trade buyers. Most 'designer' rings have spurious gemstone values inflated for sales purposes - when a bride to be has bragged about her £10k + designer engagement ring backed up by an 'insurance valuation' with an immediate price increase of 25% that have a trade value of a few £100s when the marriage fails.

So the feedback from trade is helpful in telling you there isn't value in yours items from the scrap precious metal or any gems. This is usually the case when buying most branded jewellery and, as you've found, when buying most watches that are not the select Swiss brands, Audemars, Blancpain, Jaegar, Rolex, Vacheron.. It seems unlikely you'll get best value from selling second hand to a high street jeweller. You'll get best value selling to retail buyers who don't know the items have little intrinsic value (precious metal and the best gemstones) and who value or at least recognise the brand name.

So you'll have to tread the path of ebay, perhaps with face to face pick up to avoid rogue buyers unless you can find a face to face second hand fair or market with customers able to pay more than pennies. Try to price realistically, that is below the price you paid but not so low that it causes price anxiety in the buyer (I want a bargain but not something 'too good to be true' that leads me to think it's fake.

Perhaps google similar items to see where they are selling now.

Good luck.

Fellows are perhaps the best jewellery auctioneers but perhaps don't be surprised if their feedback doesn't mirror the trade if there is little value in the precious metal and gemstones.

there is also a watch which I tried to sell to watch finder but they said they didn’t want it :(. It’s a large top-end luxury clothing brand and is still retailing for about £2.5k.
Probably brand value rather than intrinsic value, but ot also sounds like the sort of thing that the Cash Brokers in Cornwall with the Tiktok channel might deal in.

Thank you everyone. Some ideas to follow up. I might give fellows a whirl. And then try some of the lower value stuff on eBay although I am so wary of ‘item not received’. Or bait and switch:

I often look on ebay for bargain jewellery and I'm also curious about what sells as, when I get around to it, I've got some of my own I don't wear any more. I've noticed that for some reason job lots often seem go better than single pieces.

If you are going to go with ebay, spend a while sussing out items like your own. In particular, look at the prices sold for not what the auction starting price is. As previous posters have said, most brands have little value above the metal/stone content of the item. You'll see a lot of sellers who proudly state the brand, particularly in watches, pricing high because they paid a lot for them. Those items will just go round and round again for a few months then disappear.

It's a lesson to learn when buying as well. That glam branded box might look nice when you are opening it but you could probably get better stones and more precious metal for your money elsewhere.