How to Sell Used Gold Jewelry

Video Transcript

"Hi I'm Judy Carrier with Jewels by Park Lane and I'm going to talk to you about how to sell used gold jewelries. Well first of all, clean it. You don't want it to look used, you want it to look like something someone would want, you know. So they have to be able to see the luster and the sheen of the gold. Unless of course they're just buying for an investment. In that case make sure you have it weighed. You need to know the carat weight because that is the most important thing to an investor; because of course, jewelry is sold by weight. And the higher the carat, the pure the gold and that brings the higher prices. Now, you can advertise in a newspaper that you have pieces to sell. You can send out fliers. You can go to flea markets, you're not going to make as much at a flea market as you would if you sold on an auction or eBay or something like that. But it's usually an instant sell. Or you can go to a pawn broker and a pawn broker of course, it's not going to give you as much either but you have cash on hand. The best way I think is go to a local jeweler. See if they'll sell it for you on consignment and he'll take a maybe ten to fifteen percent commission. And of course he will do an appraisal for you. Now that's one of the first things you need to sell your jewelry, your used gold jewelry because you have to make sure it's documented. That's one of the easiest ways to selling used gold jewelry, I'm Judy Carrier with Jewels by Park Lane."