It has been stated that roughly half the people that lost their job due to COVID-19 in early March are still unemployed or underemployed. Given that reality, several families are turning to unconventional streams of income to piece together what they need to pay for necessities.
Among the many creative ways Americans are making cash, learning how to sell jewelry has been a popular choice, whether it’s selling old pieces that have been collecting dust for years or new, hand-crafted items.
Are you mulling the possibility of getting into the jewelry selling game? If so, keep reading to take in a handful of ways you can start making money off your pieces.
Table of Contents
Cash for Gold
Gold jewelry always has value in the gold market and in the gold market, there are always buyers like Crowngoldexchange.com that are ready to make an offer.
Cash for gold business offers are made same-day and pay cash. What’s better is that there is ample cash for gold organizations all across the country, particularly in less affluent areas.
Understand that when you sell gold to a dealer, the rates they offer will be guided by gold’s universal daily value. That guidance is then diluted by the amount the dealer would like to make in profit.
All of that to say you should shop around multiple gold buyers as to how much they dilute your piece’s value will vary.
Are your how to sell jewelry ambitions tied to wanting to build a business around handcrafted pieces? If so, Etsy is a great place to start pushing your wares.
For the uninitiated, Etsy is a lot like eBay except it specializes in hand-made items. People can find everything from paintings, to custom clothing and beyond on the site.
You’ll run into some stiff jewelry selling competition on Etsy so don’t be discouraged if your business doesn’t take off right away. It’ll definitely require some time and/or some marketing on your part.
Whether it’s used stuff or new, when you’re looking to quickly part ways with an item you own, eBay is worth considering.
eBay built its name on being the website that people would go on to bid for items and come away with unbelievable deals. Today, eBay features a mixture of bid-buying and traditional buying.
If you have a set price in mind when selling a piece of jewelry, attach that price to your piece to see if somebody seizes the opportunity. If you’re not sure what your jewelry is worth on the open market, you can start your piece at a low bidding price and see what potential buyers are willing to pay.
Friends and Family
Not all jewelry sales mean conducting transactions with strangers. Sometimes, you needn’t look further than friends and family members to make a sale.
Sure, selling to people you love can make for an awkward experience. If you’re willing to put yourself out there though, you may find that a piece you’ve worn in the past has captured the eye of someone you know that might be excited by the opportunity to own it.
Most people that are desperate to sell jewelry fast tend to land up in pawnshops. Pawnshops are great in that they’ll make cash offers on just about anything. These offers are usually well below an item’s face value but you can count on getting paid cash the same-day.
When you go to a pawnshop, they’ll offer you two options, to sell them your jewelry or to pawn it to them.
Selling is straight-forward. You bring in a piece where shop owners assess it and make you a cash offer. Pawning is more unique in that shops will loan you money against your jewelry’s value. After you’ll pay down that loan within a certain period of time, plus interest, to get your piece back.
If you don’t return the money you received from pawning your item within the allotted time-frame, your item will be retained permanently by the shop.
Similar to cash for gold organizations, diamond wholesalers are in the business of buying and exchanging diamonds at low prices. These businesses are a little bit harder to find than gold shops as they’re usually relegated to big city’s “diamond districts”.
If you have a wholesaler near you and your jewelry features diamond(s), bring it in to see what a wholesaler might be willing to pay for them. If the rate is agreeable, you can sell your diamonds to a diamond dealer and sell your potentially gold band to a gold dealer after.
While we’re not big advocates of using Craigslist as a means to your how to sell belongings end, there’s no question the platform works. The downside to Craigslist is that it’ll put you in contact with strangers face to face which can create dangerous situations.
Exercise caution when meeting strangers by always bringing a friend and meeting in a public place.
Learning How to Sell Jewelry Could Create the Pandemic Assistance You Need
The COVID pandemic has created hardships for people across all walks of life. If you’re among those affected, we maintain that learning how to sell jewelry could be the out you’re looking for.
Explore the sales avenues we’ve shared, consider which ones might work best, and try them out.
We hope you find a solution that works and welcome you to explore more of the content on our blog for additional guidance.