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Selling old jewelery?

MindLibMindLib Registered User regular
edited February 2010 in Help / Advice Forum
I'm trying to sell some old jewelery, any recommendations? For instance; is it worth doing the whole E-Bay thing? Isn't cash4gold a scam? Most of the pieces were several hundred dollars new. They're all gold, but a couple of the pieces have gemstones, emerald, diamond and amethyst. So I'd like to be able to find a service that does gemstones as well as gold. To get cash outta this thing, must I sell to a salvage place?

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Posts

  • DragonPupDragonPup Registered User regular
    edited February 2010
    Cash4Gold should be avoided like herpes. Other than that, I can't help you. :-(

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  • jclastjclast Registered User regular
    edited February 2010
    Take them to a pawn shop and see what they'd give you. Worst case scenario is that you walk away with a better idea what the second-hand market thinks they're worth.

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  • PeregrineFalconPeregrineFalcon Registered User regular
    edited February 2010
    If you're looking to recover any manner of numismatic value out of the jewelry you'll be best served with eBay or something similar.

    Salvage places will generally only give you the intrinsic worth at 15-20% under spot, or less. Edit - Sell Your Stolen Goods Here (aka pawnshops) will probably give you 50% of spot.

    That said, you could just hold on to it unless you have a pressing need for the money. Economical Troubles Ahead and whatnot means precious metals are valuable hedges.

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  • WezoinWezoin Registered User regular
    edited February 2010
    On the Cash4Gold and the like - apparently they are legitimate in so far as they will take your jewelry, you will receive a check, and if you aren't happy with the amount they will return the gold (I believe you have to pay for return shipping.) However, I saw a TV program where they got a cheque for about $13 from Cash4Gold, and then had it returned and took it to a jewelry store who offered to buy it for $150 - $200ish (can't remember the exact numbers, but it was some ridiculous difference.)

    Here is a different one along similar lines:
    http://www.youtube.com/watch?v=XuJafZdaWng&NR=1

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  • CasualCasual Wiggle Wiggle Wiggle Flap Flap Flap Registered User regular
    edited February 2010
    DragonPup wrote: »
    Cash4Gold should be avoided like herpes. Other than that, I can't help you. :-(

    Very much true. Watchdog recently confirmed that on average cash4gold and like websites will give you 30% of what your gold is worth.

    Casual on
  • see317see317 Registered User regular
    edited February 2010
    Depending on the piece of jewelry, you might look for a local consignment shop rather then just pawning it. As I understand the business model (and I may be wrong) the consignment shop will sell your piece, and take a cut of the sale price for the effort. It'll probably net you more then selling it yourself and definitely more then you'd get from Cash4Gold, just check the rates before you finalize a deal.

    Personally, if you don't need the money, I'd recomend getting the jewelry appraised from a reputable dealer (so you know how much it is worth in the future) and hanging onto it. It's not likely to skyrocket in value but it's not likely to turn worthless any time soon either.

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  • ImprovoloneImprovolone Registered User regular
    edited February 2010
    Call a local non-chain jeweler. "I have some jewelery I want to see, if I bring it in can you appraise it for me?" A follow up in person would be, 'do you know where I could sell it?". Odds are its only worth the value of the materials used.

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  • MetroidZoidMetroidZoid Registered User regular
    edited February 2010
    I too have noticed local jewelry stores taking in used jewelry ... but any info you have before going in is going to help you immensely. Don't just take the first number they give you.

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  • SmokeStacksSmokeStacks Registered User regular
    edited February 2010
    Exactly. They'll likely ask you if you have taken it anywhere else to judge whether or not to lowball you. Always say "No, you're the first one".

    Also, if you've got some spare time, if you have a Fred Meyer near you with a Fred Meyer Jeweler inside, my understanding is that they do complimentary jewelry cleaning. If the stuff you have is old, dirty, and dusty, it might behoove you to get it cleaned before you take it to be appraised.

    Dirty gold is worth the same as clean gold, but it will show that you take care of the jewelry you have, and aren't just someone who found their dead grandma's old gold bracelet and want to offload it for a few bucks. If you position yourself as if you already have a general idea of it's worth, you'll likely get a better estimate.

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  • ImprovoloneImprovolone Registered User regular
    edited February 2010
    Most places do free cleaning. It is literally dropping it into a machine and walking away.

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