Selling Jewelry Consignment

Video Transcript

"Hi, I'm Judy Carrier with Jewels by Park Lane and I'm going to talk to you about selling jewelry in a consignment store. First of all have the jewelry appraised. You need to know if it's real jewelry. If it's gold it's going to be sold by weight. So have it weighed as well. You need to know the karat. You also need to know or it helps to know the base metals of the piece that you're selling. You need to know whether it's a semi precious stone or a fine gem. All of these things add to the quality of the piece that you're selling and will raise its value. If you have a history, that helps as well. Go to your local consignment shop. Shop around. The most they're going to give you is a third of the appraised value. And that's the most they'll pay for it. And so you know that you're going to get a little less than that because they normally sell things very inexpensively. So, what you might want to do is establish a relationship with a consignment shop and just keep a running inventory until you reach the amount of money that you meet. I'm Judy Carrier with Jewels by Park Lane."