our Archive for June, 2013
A Brief History of Pawn Shops & Pawnbrokers
To begin, what exactly is a pawn shop? The word “pawn” comes from the Latin word “pignus,” which means to pledge. When someone has an item of worth on which they would like to receive a monetary loan, they take that item to a broker who receives it as a pledge (aka collateral or pawn) in exchange for money. A pawn shop serves as that kind of broker.
Pawn shops have existed since ancient times, and are arguably humankind’s oldest financial institution. In China, the history of pawn-broking can be traced back some 3000 years, where it was regulated by Imperial authorities. In India the practice originated with the Marwari Jain community and today is conducted by agents called “saudagar”.
In the West, our current laws on the practice are derived from rules that were established during the Roman Empire. Although prohibited by the early Roman Catholic Church, Franciscan monks worked as pawnbrokers to aid the poor. The Orden de Menores Observantes de San Francisco, established in Italy in 1450, requested that borrowers make donations to the Church instead of paying interest.
In England pawn shops were introduced following the conquest of William the Conquerer, after which the “House of Lombard” was established as a large medieval banking family and pawnbroker in England. The Lombards helped Edward III finance his kingdom’s war with France by accepting the King’s jewels and jewelry as collateral on substantial loans. The Lombard name itself is derived from the Italian province of Lombardy where pawn-broking services were called “Lombard” banking.
The ancient pawnbroker’s symbol of 3 suspended spheres can be traced to the practice of Lombard (aka pawn-broking) by Italy’s Medici family. Another famous pawn-broking story involves Queen Isabella of Spain who pawned royal jewelry in order to finance Christopher Columbus’s trip to Western India, which turned out to be the discovery of the “New World.”
Today pawn shops can be found worldwide. And the interest rates vary widely. In Asia, some practices exist which are unique to the East. For example, in India pawnbrokers are allowed to go to people’s homes and solicit offers. While in China the counter of the shop is built high off the ground so that the customer has to reach up and offer their belongings (so as to protect the security of the pawnbroker). In Hong Kong the symbol of a pawn shop is a winged bat (signifying fortune) holding a coin (signifying benefits).
For information on SDJB’s elite pawn shop service, contact San Diego Jewelry Buyers for a free, no hassle, appraisal.
We are San Diego’s trusted A+ BBB rated luxury pawn shop and estate jewelry buyer.
Where to Sell Emeralds – Sell Emerald Jewelry
This SDJB knowledge article focuses on where to sell emerald jewelry in San Diego. However, the advice applies to selling emerald jewelry anywhere in the United States.
If you are looking to sell emerald rings, emerald necklaces, or even loose emeralds in San Diego, you have several choices: 1) You can try to sell emerald jewelry online at a website like eBay; 2) You can try to sell emerald jewelry to a California jewelry store or pawn shop; or 3) You can sell emerald rings and other emerald jewelry to a dedicated San Diego jewelry buyer or consignment shop.
When selling emeralds in San Diego the two main concerns that sellers have are: Where can I sell emerald jewelry in the quickest amount of time? and Where can I sell my emerald jewelry for the most money? You want to keep both of these questions in mind when choosing where to sell your emerald rings, emerald earrings, and other valuable emerald jewelry.
Selling Emerald Jewelry on eBay
Some Californians do get good cash offers for their emerald jewelry on eBay. But other sellers fail at selling their emerald rings, necklaces, and pendants-or they receive very low offers. The reason so many people are unable to sell emerald jewelry for a fair price on eBay is because potential buyers are worried about buying fake emerald jewelry or jewelry set with low quality emeralds.
There is a lot of poor quality and fake emerald jewelry in circulation, and much of that jewelry can appear on eBay, despite the measures that eBay takes to protect buyers. Californians who successfully sell emerald jewelry on eBay are those sellers who have been selling luxury items on eBay for a long time and have dozens of positive buyer reviews.
The sellers of previously-owned emerald jewelry who get the most cash on eBay are professional jewelers with a real world address-as potential buyers trust them the most. These business sellers also have the ability to take high-quality photos of the emerald jewelry they are selling, and have eBay stores that are visited by thousands of online buyers looking for deals on emerald jewelry.
Lastly, there is the issue of time. Selling emerald jewelry on eBay is not your best option for people who need cash quickly, as it could take any number of weeks to receive a fair cash offer and there is no guarantee that a good cash offer will even be made.
Selling Emerald Jewelry to a California Jewelry Store or Pawn Shop
When people wonder where to sell emerald rings and other fine jewelry, they often consider approaching a jewelry store. In the past, most California jewelry stores did not buy used jewelry unless they were an estate jeweler. But with gold prices surging in recent years, many more San Diego jewelry stores are buying back pre-owned gold jewelry set with emeralds and diamonds.
Unlike on eBay (where it could take months to get paid), you will get paid immediately when selling emerald earrings, necklaces, and other fine jewelry to a California jewelry store. However, the amount of cash that you receive may not be as much as you deserve. This is because the primary business of the average San Diego jewelry store is selling new fine jewelry to buyers, not purchasing pre-owned emerald jewelry from the public. The typical California jewelry store has little expertise in appraising the market value of used emerald jewelry and has nowhere to resell your jewelry except from its own showcases.
The same shortcomings generally apply when selling emerald jewelry to a California pawn shop. While you will receive an immediate cash payment, the average San Diego pawn shop is set up to provide collateral loans on everything from electronics and guns to musical instruments and gold jewelry. Like the average San Diego jewelry store, the ordinary California pawn shop is not an expert in the purchase of pre-owned emerald jewelry and resells the fine jewelry it buys only from its showcases instead of a global resale network of estate jewelry buyers.
If you do sell emerald jewelry to a California jewelry store or San Diego pawn shop, check whether they have substantial experience in estate jewelry and ask them to explain how they are appraising the market value of your emerald jewelry and arriving at their cash offer.
Selling Emerald Jewelry to a Dedicated Jewelry Buyer or California Consignment Shop
When you sell emerald jewelry to a dedicated California jewelry buyer, you get paid immediately in cash. Waiting for your payment therefore is not a problem, as it is when selling emerald jewelry on eBay. A San Diego jewelry buyer’s primary business is the buying and selling of pre-owned emerald jewelry and all types of valuable estate jewelry. They are experts in appraising the value of pre-owned jewelry (i.e. estate jewelry) and they have an established network of buyers in which to resell your emerald jewelry.
Because of their expertise and experience, you likely will receive a better cash offer from a dedicated California jewelry buyer than you will at a typical pawn shop or fine jewelry store. San Diego jewelry buyers are also valuable resources of information if you are selling antique emerald jewelry or vintage emerald jewelry-sharing with you important information about your emerald ring, necklace, or other item.
If you don’t need cash right away, then selling emerald jewelry through a California consignment store is likely the best way to get the most cash for your emerald jewelry. But don’t just choose any consignment shop. You should sell your items with a San Diego consignment store that specializes in the sale of pre-owned luxury items like emerald jewelry.
People who want to sell emerald jewelry often choose San Diego Jewelry Buyers because we are a dedicated jewelry buyer with an A+ BBB rating who also offers luxury consignment services through our sister company Authentic Luxury Goods. Whether you need cash now or can wait a few weeks, SDJB will help you get more cash for emerald jewelry.
San Diego Guide: Sell & Pawn Jewelry
**The United States has over 12,000 businesses that buy and sell estate jewelry, watches, and diamonds. Not all are the same. When deciding on whom to entrust with your fine jewelry transaction, be selective, do research, and choose only those businesses that specialize and understand the current jewelry market.
**The best prices for fine diamond jewelry, fine gemstone jewelry, and designer gold jewelry are based on more than simple gold or gemstone weight. If you are going to sell jewelry in San Diego ask questions of the business you are considering doing business with. Make sure they demonstrate a clear understanding of jewelry materials, jewelry brands, and jewelry craftsmanship.
**Many who pawn jewelry find this an excellent way to maintain anonymity and protect their credit rating. San Diego Pawn Shops don’t do credit checks. If the customer can’t pay back the loan it doesn’t hurt their record. The loan operator simply keeps the collateral.
**If you sell jewelry, remember that there are several people who are involved in the transaction, all of whom need to make a profit margin to survive and continue offering their services. These include the San Diego gold refiners if the jewelry is being melted down; the re-sellers if your jewelry is being sold again; and of course the primary business who you are dealing with.
**It is not only gold jewelry which can be pawned or sold to provide customers with extra cash for their needs. Platinum and palladium jewelry can also be used. The prices for all precious metals are at very high levels, making now one of the best times to get a good return on the jewelry that is no longer worn.
**Not all jewelry can be resold or used as collateral. Very few San Diego businesses will accept costume jewelry, unless it a very rare item. And silver jewelry is worth only a fraction of what gold jewelry is worth, although some kinds of designer and/or antique silver jewelry can be valuable.
**Remember that 24K jewelry is pure gold, 18K is 75%, 14K is 58%, and 10K is 41.7%. For simple gold jewelry, you should be getting well above 50% of gold’s current trading price, otherwise known as the “spot price”. For name brand fine jewelry and designer pieces (such as Tiffany, Cartier, Van Cleef & Arpels) you can expect to get significantly more, depending on the condition of the piece, as well as the maker, and overall desirability.
**When you sell jewelry in San Diego, this is a “green” act, a method of recycling that diminishes the need for increased mining of gold and gemstones. In addition, when platinum is melted down it often finds its way into new car engines, where it serves as a catalyst in devices that remove automotive pollutants.
**Beware of sending your fine gemstone jewelry through the mail to gold buyers and so-called “gold refineries”. There is always an unnecessary risk involved by allowing your fine jewelry to leave your sight.
**When dealing with an unknown business it is always a good idea to search for complaints filed against a company with the Better Business Bureau at http://www.bbb.org/ and other online consumer sites.
**It is estimated that 25% of customers walk away from a loan based on product collateral. Be aware of this and do not risk using an important family heirloom for a loan. If your jewelry is melted down it is lost forever.
**To ensure the best price for gold jewelry, deal only with those buyers who set their scales in grams. Some San Diego gold buyers set their scales in penny weight (1.55 grams), which likely means less money for you.
**Avoid those businesses which charge an unreasonably high interest rate on their loans. In states like Texas the legal rate for short term loans can go as high as 240%! Do not allow a troubling financial situation force you into such a loan arrangement. There are always businesses to be found that will charge you a reasonable interest rate. And if you need help, seek guidance from a free consumer credit management service, such as: http://www.debt-mgt.org/ or http://www.familycredit.org/.
For information on SDJB’s elite pawn shop service, contact San Diego Jewelry Buyers for a free, no hassle, appraisal.
We are San Diego’s trusted A+ BBB rated luxury pawnbroker and estate jewelry buyer.
Sell Estate Jewelry: Facts from Jewelry Buyers
As San Diego’s #1 estate jewelry buyer, we here at San Diego Jewelry Buyers love all things about fine jewelry. Jewelry lovers or those who want to sell jewelry to a local buyer might find the following facts about jewelry interesting.
1) In 2007, Christie’s auction house had jewelry sales totaling almost $400 million, an increase of 11% over 2006 totals and 27% over 2005.
2) The word jewelry is derived from the word jewel, which is the anglicized version of the Old French “jouel”.
3) During early times jewelry was created for practical uses such as wealth, storage, and pinning clothes together.
4) The longest continuous legacy of jewelry making in the world belongs to India, and stretches back 5000 years.
5) In ancient Rome, only certain ranks of people could wear rings.
6) Wedding rings for men first became a popular American tradition during the early 20th century.
7) Islam considers the wearing of gold by men to be a social taboo.
8) A popular symbol used in Jewish jewelry is the Hamsa (or “Hamesh hand”), which often features three fingers raised.
9) The modern jewelry movement began after World War II, and was fueled by the works of designers like Fulco Di Verdura and David Webb.
10) According to recent studies, the largest jewelry market is the United States with a market share of 30.8%, followed by Japan, India and China and the Middle East each with 8 – 9%, and Italy with 5%.
For information on how you can sell jewelry for cash today, contact San Diego Jewelry Buyers for a free, no hassle, appraisal.
We are San Diego’s trusted A+ BBB rated fine jewelry buyer and luxury pawn shop.
Where to Sell Rubies – Sell Ruby Rings & Jewelry
Although this consumer article focuses on where to sell ruby jewelry in San Diego, the tips apply to selling ruby jewelry anywhere in the country.
If you want to sell ruby rings, ruby necklaces, or even loose rubies, you have several choices in San Diego: 1) You can sell ruby jewelry to a San Diego pawn shop or jewelry store; 2) You can sell ruby jewelry at an online auction website like eBay; or 3) You can sell ruby rings and other ruby jewelry to a dedicated California jewelry buyer or consignment store.
The two big questions on the mind of most people selling rubies in San Diego are: Where can I sell my ruby jewelry for the most money? And Where can I sell ruby jewelry quickly and easily? Remember both of these questions when choosing the best place to sell ruby necklaces, earrings, and ruby gemstones.
Selling Ruby Jewelry to a California Jewelry Store or Pawn Shop
A jewelry store or pawn shop is often the first place people think might be good places to sell a ruby ring and other fine jewelry. Most San Diego jewelry stores did not buy used jewelry in the past unless they were an estate jeweler. However, with today’s high gold prices, many San Diego jewelry stores are now buying gold jewelry set with rubies from the public.
You receive cash immediately when selling ruby earrings, pendants, and other fine jewelry to a San Diego jewelry store. But this cash payment may not be as much as you deserve. The typical San Diego jewelry store is in the business of selling NEW fine jewelry to buyers. Buying used ruby jewelry from the public is a secondary business practice. Most San Diego jewelry stores aren’t knowledgeable in the appraisal of previously-owned ruby jewelry and will appraise the item based on how much they think they can resell the item in their store.
The same goes for selling ruby jewelry to a San Diego pawn shop. The average San Diego pawn shop is in the business of providing collateral loans on used merchandise like musical instruments and electronic devices. Most San Diego pawn shops estimate the value of you pre-owned ruby jewelry by how much they think they can resell it within their pawn shop instead of appraising your item’s value on the global estate jewelry market.
Before you sell ruby jewelry to a California jewelry store or pawn shop, find out how much knowledge they have in estate jewelry and ask them to explain how they are estimating the value of your ruby jewelry and coming up with a cash offer. Make sure they answer your questions to your full satisfaction.
Selling Ruby Jewelry on eBay
Some people sell ruby jewelry on eBay and other online auction sites successfully and are happy with how much cash they have received. Others are not so lucky when selling ruby rings, necklaces, and brooches. Many sellers are unable to sell ruby jewelry for a fair price online because potential buyers are concerned that they will be buying fake ruby jewelry or jewelry set with low quality rubies.
The world market is full of poor quality and fake rubies that can find their way to eBay and other online auction sites. Sellers who are successful when selling ruby jewelry online tend to be those people who have sold dozens of other items at that particular website previously.
Professional jewelers usual get the best prices when selling used ruby jewelry online because buyers find them trustworthy. Professional estate jewelry sellers usually take excellent photographs of the ruby jewelry they are selling, and have online storefronts that are visited by thousands of online buyers looking to buy pre-owned fine jewelry.
The amount of time it takes to sell ruby jewelry online is another important consideration. Selling ruby jewelry on an auction website like eBay is not an option for people who need cash now because it could take over a month to receive a fair cash offer, and you might not end up with a good cash offer at all.
Selling Your Ruby Jewelry to an Estate Jewelry Buyer or San Diego Consignment Shop
When you sell ruby jewelry to a dedicated estate jewelry buyer, you receive cash today. In addition to that, an estate jeweler is in the business of buying and selling ruby jewelry from the public. They are experts in appraising the resale value of all types of precious gemstone jewelry and base their appraisal on an extensive network of individual collectors and retailers.
Because of their estate jewelry expertise, you likely will receive a better cash offer from a dedicated jewelry buyer in San Diego than you will at your neighborhood pawn shop or fine jewelers. San Diego estate jewelers also provide sellers with valuable information if you are selling antique ruby jewelry or vintage ruby jewelry-sharing with you their knowledge about ruby rings and ruby gemstones.
Selling ruby jewelry via a San Diego consignment store is likely the best way to get the most cash for your ruby jewelry if you are willing to wait. The best San Diego consignment shops for selling ruby jewelry ate those that specialize in the sale of pre-owned luxury items like diamond jewelry and designer handbags.
That is why so many people sell ruby jewelry to San Diego Jewelry Buyers. We are an A+ BBB dedicated jewelry buyer that also provides luxury consignment services through our sister company Authentic Luxury Goods. Whether you want to sell a ruby ring direct to us or sell ruby jewelry on consignment, San Diego Jewelry Buyers will help you get more cash for ruby jewelry.
How to Sell an Engagement Ring
The diamond buyers at San Diego Jewelry Buyers, San Diego County’s most prominent buyer of pre-owned diamonds, have put together the following list of tips and facts for women and men who want to sell engagement rings. Before you sell a diamond engagement ring, please take some time to consider whether the relationship is over. Feelings can change. Don’t make a rash decision to “sell my engagement ring” only to regret it later.
1) Unless your engagement ring is from a highly sought after brand such as Tiffany or Harry Winston, it is the diamond that holds most of the worth. The band itself will likely be melted down at scrap metal prices by the diamond buyer.
2) The retail price that was paid for your diamond engagement ring (even if it was advertised at “wholesale” prices) was likely at least triple the manufacturing cost.
3) It is often difficult to sell diamond engagement rings to those couples who are considering marriage, as the couple often considers the ring to hold bad karma.
4) If the ring was appraised in the past for insurance purposes, keep in mind that this was the estimated retail value, and will not be close to what you can expect from a San Diego diamond buyer. If you decide to get your engagement ring appraised before you resell it, be sure to tell the appraiser that you would like a re-sell (or wholesale) price estimate.
5) Be sure to include any diamond certification papers when selling your engagement ring. The most respected is the GIA (Gemological Institute of America) Diamond Grading Report, which makes it much easier for the buyer to evaluate your ring’s proper value.
6) You often can get a better price for your engagement ring if you can pair it with other bridal jewelry, such as a matching wedding band and bridal earrings.
7) Women who are now in the process of getting a divorce, wait until the divorce is complete before they sell engagement rings and other bridal related jewelry. Feelings among married couples often change at the last minute. And you don’t want to be in the position of losing your engagement ring and wedding band forever should you and your husband reconcile. If you are in need of money, consider using less sentimental jewelry as collateral for a cash loan instead.
8) If you are getting a divorce, but have a daughter (and are not in a difficult financial position), you may want to consider holding on to your diamond engagement ring and passing it down to your daughter–not as an engagement ring, but as a symbol of the love that you and your husband shared, which produced the most valuable treasure in your life: her.
9) Go online and learn about the 4Cs (Cut, Carat, Clarity, and Color), which determines the value of the diamond in your engagement ring. The rule of thumb is that your diamond will attract a higher price if it has a popular cut (such as brilliant); a clarity of VSI (very small inclusions) or finer; a color of G or better; and it is 1 carat or more.
For more info on how to sell diamond engagement rings, contact San Diego Jewelry Buyers for a free, no hassle, appraisal.
For more information on selling diamond jewelry for the most cash, go to our article: How to Sell Diamond Jewelry.
We are San Diego’s trusted A+ BBB rated diamond buyer and gold jewelry buyer.
How To Sell Diamond Jewelry
There are a lot of reasons why families might be in a difficult financial position. Unemployment rates are high. Companies are downsizing. Banks have tightened lending. Home prices are far below their pre-recession levels. The situation is especially difficult for single parent families struggling to make ends meet. In response, many people have turned to jewelry boxes and diamond buyers as sources of quick cash to pay bills and attain financial peace of mind.
San Diego Jewelry Buyers (SDJB) is one of the country’s most recognized diamond buyers. SDJB purchases all types of diamond assets—including extraordinary jewels ordinarily sold at auction houses like Christie’s and Sotheby’s. SDJB says that now is a good time to sell used diamonds and jewelry. Increased demand for diamond jewelry in Asia has pushed diamond prices higher this past year. That means customers can now receive more cash when selling diamond jewelry assets.
If you want to sell diamond jewelry, use some caution and common sense. It’s easier to be taken advantage of when selling diamonds versus selling gold. The value of your gold can be estimated by looking at the day’s spot price on the gold market. The value of diamond jewelry is more subjective. The best cash prices for pre-owned diamond jewelry are paid by dedicated diamond buyers like San Diego Jewelry Buyers, who have multiple resale channels locally, nationally, and worldwide. These channels help diamond buyers like SDJB give higher appraisals for used diamond jewelry. Higher diamond appraisals mean more cash for the seller.
San Diego Jewelry Buyers regularly offers tips to jewelry sellers. Here are answers to 4 common questions regarding how to sell diamond jewelry:
1) Should I get my diamond jewelry appraised?
Getting a formal written appraisal can be expensive. The price makes it not worth it for diamond jewelry valued at less than $2000—because remember the appraisal fee is reducing the cash you’ll have in hand when you sell your diamond jewelry. If you do seek a written appraisal, remember to ask the diamond appraiser to appraise the item’s resale or pre-owned market value.
The best route in most situations is to obtain a free diamond appraisal from a few different jewelry buyers or pawn shops. These verbal appraisals should give you a good idea of your item’s worth on the resale market. However, be aware that market appraisals from traditional jewelry stores may be inflated. This occurs because the jewelry store does not want you to know how high they mark up new diamond jewelry. Lastly, you always want a professional opinion on what a family heirloom might be worth. The item may be worth a lot more, or a lot less, than everyone in the family thinks.
2) What kind of cash offer can I expect for my diamond jewelry?
The retail price paid for diamonds or diamond jewelry is usually at least 3X the manufacturing cost—this applies even to those diamonds bought online or reportedly sold at “wholesale” prices. Therefore, do not expect to receive a cash offer that comes close to your jewelry’s original sales price or an appraisal value that was obtained for insurance purposes.
When researching prices on eBay, be sure to look at similar used items from the same brand/manufacturer. Also make sure to look at “Completed Listings” (under “Advanced Search”) to see what items actually sold for. Most the items you see listed on eBay as “Buy It Now” don’t actually end up selling at those prices. Either the pieces sit unsold for an indefinite period, or the seller ends up accepting a lower offer.
The “Completed Listings” prices for used diamond jewelry may be somewhat higher on eBay than those offered by a local diamond buyer. However, in some cases, a diamond buyer like San Diego Jewelry Buyers may pay you more because they already have individual buyers waiting. In either case, remember that a dedicated diamond buyer needs to make a profit in order to stay in business and provide their services.
3) Where can I sell my diamond jewelry?
When selling diamond jewelry, you have two options. You can sell your diamond to a business that purchases pre-owned diamonds (e.g. a jewelry buyer or pawn shop) or you can sell your diamond jewelry direct to the public. The benefit of selling direct to the public via an online auction site or classified ad is that you can often (but not always) get more cash for your item. The benefit of selling used diamonds to a trusted diamond buyer like SDJB is that it is more secure, easier, and faster.
When choosing a diamond buyer, the most important thing is trust. Look up the diamond buyer’s rating with the Better Business Bureau. Check out reliable reviews at online review sites like Yelp. To evaluate the honesty of the customer reviews, look for reviews that are spaced out over months and years. Be wary of positive reviews that go out of their way to name and criticize another business—as genuine reviewers rarely ever do this.
You can also sell diamond jewelry on consignment. This method of selling a diamond often results in more cash. However, consigning jewelry is only a practical solution if you have time to spare. The seller receives cash only after the item has been sold—which could take a number of weeks or months. San Diego Jewelry Buyers is one popular place where customers can sell diamonds, diamond jewelry, and other luxury merchandise on consignment. SDJB’s online consignment service allows diamond sellers to get more cash for their diamonds while never having to leave the comfort of their homes.
4) Is selling my diamond jewelry the right move?
There are few items more sentimental than diamond jewelry. A diamond ring, bracelet, or necklace usually carries with it enduring feelings of passion, love, and tenderness. Selling diamond jewelry is especially difficult if it came from someone who has now departed. Be sure to explore your feelings toward the diamond jewelry you are selling. Is your attachment greater than the cash you are going to receive? How deeply will you regret the sale in a year or two? Are there any other less sentimental assets that you might be able to sell if you need cash?
At the same time, remember that while “a diamond is forever,” it is just a material object. If you must sell diamond jewelry due to a hard financial situation, don’t kick yourself about it. It is only a symbol of affection and those symbols can be replaced. If the loved one who gave the diamond jewelry is gone, they would surely prefer that you use it to obtain some peace of mind than hold onto it for sentimental reasons.
San Diego Jewelry Buyers is an A+ BBB estate buyer and luxury pawnbroker. We are located on the ground floor of the Beaumanor Building in the historic Gaslamp Quarter of Downtown San Diego—on the NE corner of 6th Ave and E street. Our estate store and offices are just blocks from Horton Plaza Mall and Petco Park. For more info call (619) 236-9603.
How To Sell Jewelry to Estate Buyers
1. Before talking about how to sell jewelry, let’s define what estate jewelry is–since there is some confusion over this term. Estate jewelry is any used jewelry (i.e. previously owned). Antique jewelry, on the other hand, usually refers to any jewelry that is at least 70 years old.
2. As with any kind of used product, the value of your estate jewelry will be based largely on what kind of demand there is for it (along with the intrinsic value of the gemstones and precious metals used). To help gauge the demand for your estate jewelry, try looking it up on e-bay and note the number of similar items for sale, and what the auction prices are.
3. Identifying your estate jewelry might not be easy if it is antique, since many old jewelry makers did not use hallmarks: those marks that identify the maker. If you are having trouble identifying your estate jewelry, you likely will want to have it appraised if you think it is worth over $1000. Before doing so, please read our article on jewelry appraising and appraisers in San Diego.
4. Inspect your estate jewelry closely (under a magnifying glass if possible), and look for any solder marks. Any signs of solder marks in your estate jewelry will lower its value. Also look for any tiny cracks in the gemstones, which will also lower the piece’s value. Use a penlight also to help you spot hairline cracks.
5. Take note that a lot of Art Deco period jewelry contains synthetic stones, while much “Orient” jewelry from the ‘60s are reproductions of more valuable estate jewelry, with white gold sometimes being used instead of platinum. Natural gemstones are valued at prices many times higher than synthetic stones.
6. It is often more difficult to sell your estate bridal jewelry (especially used wedding bands) due to superstitious reasons, and the fear that they might carry bad luck.
7. If your estate jewelry is signed from a leading jewelry maker or brand, such as Cartier, George Jensen, Tiffany, Van Cleef & Arpels, Lalique, or Boucheron, this jewelry will likely be worth at least double that of a similar unsigned piece of estate jewelry.
8. While damaged or broken estate jewelry is usually not worth the restoration costs, (because the jewelry will just be melted down anyway), if your estate jewelry is from a leading, highly sought-after, brand, then restoration might be considered. Consult with a local San Diego jeweler who offers repair services.
9. If you are trying to sell estate jewelry via an online auction site or some other retail outlet, be sure to have it properly cleaned. If you are unsure at all about how to properly clean your estate jewelry, have a professional do it. It won’t cost much, and many San Diego jewelers offer cleaning as a free service to their established customers.
10. If your estate jewelry is rare and of very high value, you might consider selling it to a leading auction house, such as Christie’s or Sotheby’s. One drawback though is that you will often have to wait a few months before your estate jewelry gets put up for auction, which doesn’t help if you need cash now for your estate jewelry.
11. Finding another consumer in San Diego to buy your estate jewelry is usually the most profitable avenue to sell jewelry; but this often can be a time-consuming process. Before taking this avenue, you should put a price on what your time and energy is worth. Then evaluate if it makes sense to spend 10-20 hours or more, over several weeks, trying to find a buyer for your estate jewelry, just to make a little extra money over what a good jewelry buyer would offer you.
12. Protect yourself! If you sell jewelry to a stranger, never meet the potential jewelry buyer in your house. Meet the buyer in a public place, like a shopping mall or restaurant. Even better, meet at the potential buyer’s bank. That way, if the buyer is interested in your fine jewelry, they can get the cash right away, and you can complete the transaction in a safe, secure, environment.
14. If you need cash quick and go to sell jewelry at a San Diego pawn shop, keep in mind that the price you will be offered will likely be based only on the scrap metal price and the intrinsic value of the gemstone. For designer pieces, whose value is enhanced by style, brand, and craftsmanship, it is best to consult with a buyer, like San Diego Jewelry Buyers, which specializes in fine branded jewelry.
For more info on how to sell jewelry for cash today, contact San Diego Jewelry Buyers for a free, no hassle, appraisal.
We are San Diego’s trusted A+ BBB rated jewelry buyer and estate buyer.
Questions to Ask Your San Diego Gold Buyer
1. How will you weigh my gold, in grams or pennyweights?
CORRECT ANSWER: Grams.
REASON: Grams are today’s industry standard, so if a San Diego gold buyer says he will weigh the gold in pennyweights then he will be the exception. Those who weigh gold in pennyweights often give poorer buying offers, depending on their policy regarding the rounding of amounts. You should ask a potential gold buyer if he is at least willing to weigh your gold in grams and do all of the calculations in grams for you. This will make it easier for you to comparison shop.
2. How much are you paying per gram today for 14 karat gold (or 10K, or 18K, etc.)?
CORRECT ANSWER: According to today’s market price of gold, we are paying ___ per gram for 14K gold (or 10K, or 18K, etc.).
REASON: Some gold buyers and refineries will use deceptive techniques in order to get you into their store. For example, they might say, “Today’s gold price is ___ per gram.” Then when you come in they will explain that the price they quoted you on the phone was what they sell gold for, not what they buy it for. They do this in hopes of capturing a certain number of people who will still go through with the transaction despite the “misunderstanding.”
3. Do you pay extra for diamonds and gemstones, or do you deduct for the weight of the stones like some businesses do?
CORRECT ANSWER: With diamonds, it depends on the size, quality, and way they’re set in the jewelry. For example, if we are buying the jewelry for scrap and the diamonds are very small, of low quality, and set in such a way that it will be difficult to separate them from the gold, then we won’t be able to pay for the diamonds, since taking them out without breaking them could cost more than what they are worth. However, if they are of a certain size and quality, and can be removed from the piece without too much effort, then we will add for the value of the diamonds.
In the case of small color stones we use a similar criteria, except they will be worth substantially less in most cases. In the case of large stones of low-value, we either deduct for the weight of these stones, or take them out of the piece and value them separately. In the case of all stones of higher value, such as precious gemstones and diamonds, we will assess their value and add to it to the price we offer for the gold. In the case of jewelry that we do not plan to scrap, we would value the gold, diamonds, and gemstones individually to come up with the final price for the piece.
REASON: You should avoid businesses that say they deduct for the weight of the diamonds and stones, and leave it at that, since this is not a practical blanket policy. They should be willing to assess each item according to the more specific factors, such as those stated above.
4. Do you pay extra for designer gold jewelry? Can you please name a few brands that you pay more for?
CORRECT ANSWER: Yes. Tiffany, Cartier, and Van Cleef & Arpels, to name a few.
REASON: Whether you have any designer gold jewelry or not, it is useful to know that the gold buyer is willing and able to pay more for jewelry coming from a well-known designer, since that means he has the knowledge to buy your jewelry for the correct price it’s worth, rather than just following a blanket policy of paying so much per gram for the gold, since you just might have an antique Cartier or Tiffany piece in your jewelry box that you didn’t even know about (such as one handed down by a relative), and you want to work with buyers who can recognize such pieces, point them out to you, and be willing to pay you a premium for them.
5. How long have you been in business, and what is your background in the jewelry industry?
CORRECT ANSWER: There are several correct ways this question could be answered. As a rule of thumb, a San Diego gold refinery or buyer should tell you either A) that he’s been in business for over a year and has documented evidence of being involved in the jewelry industry (on the retail or manufacturing side) for over 5 years; or B) that he’s been in business as a jewelry buyer for over 5 years.
REASON: In rough economic times like these, there are hundreds of new people and companies getting into the gold buying business looking to prey on people’s unfortunate circumstances. These are the kind of businesses that immediately offer you a higher amount when you reject their first buying offer; and then a higher cash amount again when you reject their second offer. As with any kind of serious business transaction, you want to be dealing with proven professionals with expertise in their field so as to achieve the best results.
6. Are there any complaints listed against you with the Better Business Bureau?
CORRECT ANSWER: 1) We have no complaints. 2) We have had a couple complaints over the years due to misunderstanding but these have all been successfully resolved, as has been documented by the Better Business Bureau.
REASON: As mentioned earlier, there are lots of new San Diego gold buyers looking to take advantage of consumers’ lack of familiarity with selling gold. And one way to spot these companies is by checking whether the gold buyer you are considering has had multiple complaints filed against them. Misunderstandings can always occur, and you should never pre-judge a company simply because a single compliant has been filed, especially if that complaint was documented by the BBB as being successfully resolved. But if a company has been hit with multiple unresolved consumer complaints that should be a clear warning sign to you.
7. Will you pay me today by cash or by check?
CORRECT ANSWER: 1) We will pay you today in cash. 2) We will pay you by cashier’s check (this should only be accepted from an established San Diego gold jewelry buyer with a bricks and mortar store).
REASON: When you sell your gold, you should have cash in your hand TODAY. That is the industry standard among professional gold jewelry buyers. If the buyer says that they will give you a business check or personal check, search for another gold buyer.
For more info on how to sell gold jewelry and bullion for cash today, contact San Diego Jewelry Buyers for a free, no hassle, appraisal.
We are San Diego’s trusted A+ BBB rated gold refinery and gold jewelry buyer.
Best Place to Sell My Gold News Reports
The following YouTube posted news videos include tips on “how to sell my gold” and reviews of gold buyers that will help you get the most money for your gold jewelry, scrap gold, gold coins, and dental gold. All news videos seen below are from trusted news organizations. When you sell gold, more information means more money. So take your time, and make an informed decision when selecting a gold buyer, be it in San Diego or any city nationwide.
ABC News: “Fool’s Gold?”
An informative investigative report by ABC on mail-in gold refineries like Cash4Gold, and why should be the last place you sell scrap gold, dental gold, and gold jewelry.
WBAL TV 11 News. “Tips For Selling Gold Jewelry”
Investigative team discovers during a hidden camera investigation that when trying to sell used gold, you need to shop around first.
Money Talks News: “Sell My Gold By Mail Doesn’t Pay”
News program sent equal lengths of gold chain to different mail-in gold purchasers (Cash4Gold, TurnGold2Cash, and GoldKit). Guess how much they were offered? Not much. Gold selling tips.
CBS Early Show: “How to Sell Your Gold”
CBS reporter investigates how to get the most cash for gold and what gold buyers to avoid when searching for “the best place to sell my gold.”
For more info on how to sell gold for cash today, contact San Diego Jewelry Buyers for a free, no hassle, appraisal.
We are San Diego’s trusted A+ BBB rated gold buyer and gold refinery.
