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May 2014

HOW TO SELL YOUR UNWANTED JEWELRY — PRO TIPS!!

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HOW TO SELL YOUR UNWANTED JEWELRY — PRO TIPS!!

Precious metal prices have remained high for quite some time now, and as a result, selling your unwanted jewelry for cash is a great option. The thing is, since selling “scrap” jewelry is so popular, it feels like a million and one places have cropped up and are vying for your business. It is important to educate yourself so you don’t get burned.

We’ve put together a few easy tips to help you sell your jewelry with knowledge and confidence.

1. KNOW WHAT YOU HAVE. The only tools you need are a magnifying glass and a well-lit area. It is best to know what your jewelry is before you take it anywhere. Use the magnifying glass to look for the metal marking. For gold, you should see either a two-digit number followed by a K (for karat, indicating the gold content), or a three digit decimal: 10K or .417, 14K or .585, 18K or .750. Platinum will have a stamp of PLAT or .950 and Sterling Silver STER, SS, or .925. These markings are most often found inside the band of a ring, on the posts of earrings, and on or near the clasp of bracelets or necklaces. Two caveats: if your piece is older, it is possible that the metal has worn down enough that the stamp is no longer visible. Conversely, you may see “18K HGE” for example, which is very misleading. The “HGE” means “heavy gold electroplate” indicating that the item is merely gold plated. In both cases, it is best to show the piece to a professional to be sure.

If there are stones, try to determine what type. A little research online goes a long way. There are many resources with photos that can help you identify your stones. The most common stones are:

Amethyst
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Citrine
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Diamond
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Emerald
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Jade
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Opal
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Pearl
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Peridot
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Ruby
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Sapphire
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Tanzanite
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Tourmaline
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Gem identification is tricky, but don’t get discouraged. Any amount of information will be beneficial. A reputable jeweler will be glad to help clear up any questions you have.

2. AVOID ONLINE BUYERS AND KIOSKS. These are cropping up everywhere and unfortunately often disappear just as quickly as they came. It’s just not a good idea to mail your valuables to an unknown party. Unless you are absolutely sure of what your value is, there is too much room for these companies to take advantage of your position. They are counting on your not wanting to go through the hassle and aggravation of having your items shipped back to you (at your cost!). Once they have your valuables, they are pretty confident you’ll just accept their offer, since it is the easiest thing to do.

3. DO YOUR DUE DILIGENCE. Look online for reviews from other people who have successfully sold their unwanted jewelry. Reputation can be the best indicator as to whether a company is a good buyer.

4. SHOP AROUND AND KNOW WHAT YOU WANT! Lastly, it is a good idea to have an amount in mind when you go. If your first offer meets or exceeds that amount, great. But it’s still better to shop around if you can. The easiest option is to walk around a location with lots of jewelers. Otherwise, you could end up spending any extra you might have made on traveling from store to store!

So there you have “Jewelry Buying 101”!! We hope these tips help you, and remember, we’re always willing to give free estimates!

[sws_divider_line] Bromfield Jewelers
49 Bromfield Street Boston, MA 02108
Email: bromfieldjewelers@verizon.net
Phone: (617) 423-7464