Sell Silver - Southwest Jewelry Buyers (2024)

FAQs

Where can I get the most money for selling jewelry? ›

Your choices are a jewelry store, a pawn shop or a “We Buy Gold” dealer. In most cases all three will offer you “scrap value,” that is, the value of the metal, diamonds and gems. Of the three, you'll usually get the most money from a jeweler.

Selling your jewelry in person to a local shop may still be the best way to get the most money out of it. Here, too, you have lots of options, including coin shops, pawnshops, consignment shops and jewelers. The American Gem Society provides a list of local jewelers who buy jewelry.

If you're looking to sell your jewelry, a pawn shop is still likely your best option. This is because a retail store must be interested in your specific item in order for them to buy it. If your item isn't popular or rare or vintage, it is unlikely to sell, causing them to turn your item down.

Resale Value. Generally, when you sell pre-owned fine jewelry, you can expect to get around 20 to 50% of the original purchase price. There are a few exceptions to this range. For example, very rare and highly desirable pieces may fetch a higher price.

We recommend taking the piece to a jeweler to be tested. They will have professional tests that will determine whether your jewelry is real as well as the purity of the metal itself. A certified appraiser will be able to provide the value of the piece as well.

People take their time and money slowly because diamonds are heavy purchases for normally special occasions like birthdays, weddings, engagements, and other special milestones like anniversaries. The high markup also covers the original costs and the slow time it takes for it to be bought.

On average, the retail price for one carat diamonds can be anywhere between $2,000 to $16,000, and between $8,000 to $72,000 for two carat diamonds . And of course, the retail price and the resale value of a diamond are very different things.

Should I sell my diamond ring at a pawn shop? ›

If you don't want to get rid of your diamonds forever, then pawning them is a good way to raise funds when needed, using them as collateral for a short-term loan and getting them back when you repay the loan. In fact, many pawn customers pawn the same diamond jewelry time and again whenever their need for cash arises.

If you walk into a pawn shop and try to sell an item without knowing its value, then you're asking to be ripped off. Much of what we own has no market value. However, things like jewelry, watches, cars, antiques and art are easily appraised for a fairly reasonable price.

How Pawn Shops Work. At a pawn shop, you leave your property and, in return, the pawnbroker typically lends you approximately 25% to 60% of the item's resale value. The most commonly pawned items are jewelry, electronic and photography equipment, musical instruments, and firearms.

Tip 4: Be prepared to negotiate to get to the best price for the sale of your unwanted jewelry. When jewelers or pawnbrokers throw a price at you, they always leave room for negotiation. That means the initial price they gave you is on the low-end of what they'd pay.

While pawn shops tend to offer more money to purchase items outright than to lend against them, it still will only get you about 50% of the value of your jewelry. Even if you need cash in a pinch, there are more lucrative ways to sell and get more out of the value of your jewelry.

Tip 1: Everything in a jewelry store is negotiable. Big or little purchases, depending on the size of the purchase, you could save between 15-50% just by negotiating. This applies to large chain stores and mom and pop locations.

Since Zales - The Diamond Store - has been part of our customers' most important moments since 1924, it seems only natural to offer this service. Now you can sell your used, unwanted gold and platinum jewelry through a secure program from a company you know and have trusted for years.

Reputable jewelers will give you fair market value for your gold and be open and honest throughout the process of selling. We recommend shopping and selling at jewelry store that is a member of a professional trade association, like Jewelers of America.

When you sell gold coins or bars, you should expect to receive at least 90% to 95% of the current market value. But with gold jewelry, you're likely to get only 70% to 80% of the melt value.

Do you have to pay tax if you sell your jewelry? ›

Taxes if You're Selling Jewelry

If you sell it for more than $300, the profit from the sale is taxed. Your capital gains tax rate corresponds with your income tax bracket and can range from zero to 20%. If you sell your jewelry for less than its fair market value, this is considered a capital loss.

A jewelry appraisal can cost anywhere from $50 to $150, depending on the appraiser. In general, the average price of a jewelry appraisal is $75-$100. Some jewelry appraisers charge a flat rate per piece, while others will discount if you have numerous items of jewelry all needing to be appraised at once.

Tip 1: Everything in a jewelry store is negotiable. Big or little purchases, depending on the size of the purchase, you could save between 15-50% just by negotiating. This applies to large chain stores and mom and pop locations.

Online silver buyers make it easy to get a quick quote for your 925 sterling silver jewelry, scrap, silverware, flatware or coins. How much is silver worth? As of September 28, 2022, the silver resale value in the United States was at $18.24 per ounce, or $0.64 per gram.

We buy jewelry made of precious gold (10K, 14K, 18K, 22K or 24K gold or European equivalent) or anything made of platinum 900 or 950. If your jewelry is set with diamonds or color stones, you should have those removed before sending your gold or platinum to us.

Kay Jewelers currently operates a nationwide trade-in or buy-back program. You can take an item of diamond jewelry to any of their stores in the US and use it as part payment for another piece of jewelry.

Lifetime Guaranteed Diamond Trade-In Value

We guarantee that the item you trade will be valued for trade in at Zales at 100% of its original net purchase price. Trade-ins of in-store and online purchases are accepted at most Zales locations.

Jewelry Trend: Chunky Gold Chains

Larger-than-life links are among the top 2022 jewelry trends, as seen on the runways at Valentino and Hermès, to name a few. This season, go with oversized gold chains that make a bold statement solo or when layered with other over-the-top pieces.

Some of the best times to sell gold are right before Mother's Day, Father's Day, Valentine's Day, and Christmas. You may also be able to get a good price for your gold if you sell it during the summer months, as many people take vacations during this time and may be looking to spend money on jewellery for their trips.