I just want to sell my jewelry. Will you buy it?
I do not buy. I take estate jewelry on consignment, either long- or short-term, at a fixed commission. This allows me to strive for the greatest return for you, the owner. Most of the time, I sell in a day or two, to the best buyer in the wholesale gems and jewelry trade for the type of item you have. If you have more time to wait, and if your item is of suitable style, quality and condition, we may agree to a longer-term consignment, usually six to twelve months, through Jewelry Consignment Shop, in order to find a private buyer. This results in more money than a quick sale to someone in the jewelry trade does, but how long it will take is unpredictable.
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How do you price estate jewelry?
Jewelry on longer-term consignment is priced at or near the equivalent of current wholesale market price. Quick sales to the wholesale trade may rarely bring as much as 80% of wholesale for very desirable items, to as little as 10-20% of wholesale for items that must be scrapped for intrinsic precious metal value. Half of wholesale used to be a crude rule of thumb for what the gems and jewelry trade would pay for most estate jewelry. But very high precious metal prices have meant that dealers are holding less jewelry of marginal quality, style or condition.
If time and the quality of your jewelry allow it, finding a private buyer is to your advantage. The problem is how to find that buyer. Most alternatives amount to Turkish bazaars -- crowded and unsafe. That is why Jewelry Consignment Shop was born, to offer a professional service to private sellers and private buyers of estate jewelry to help them locate each other, and verify quality and value to both parties in a haggle-free environment.
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How do you determine an item’s wholesale value?
I approach it as an appraiser does, with research. Appraisers study prices to determine value. For estate items, it’s best to research what items similar to yours have actually sold for, especially at auction, but also in second-hand retail stores or anywhere else, between real-life buyers and sellers. Next best is to find out what prices are being asked. If an item is fairly new and still available, it's useful to estimate what it would cost to replace the item by calling the manufacturer, or to reproduce it, based on cost of gemstones, metal, labor, and profit. This approach is not reliable when an item has intangible value based on age or other collectible status.
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What is consultation? Do you mean you charge to look at my jewelry?
I charge to evaluate your jewelry's quality, style and condition, and to place it within a range of value, depending on the type of buyer and how quickly you wish to sell. This includes cleaning your jewelry and advising you if it needs repair. If I know of a local buyer in the jewelry business who can pay more than I can get for you, I will steer you in that direction. In these ways I work to help you decide what your next step should be, whether it involves my acting as your broker or not. I present alternatives, based on my knowledge of the markets. For example, you may decide to try to find a private buyer on your own, or to go to auction, or not to sell at all. My rate is $75 per half-hour. If we agree that I am the best way for you to sell, I waive the fee.
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If we agree to a consignment, what is your commission?
The concept of Jewelry Consignment Shop has been based on service to the Oklahoma community for more than twenty years, which means a low commission cost to the seller. Please see my fee schedules (one for sales to private buyers and the other for immediate trade sales) here. During consultation, we arrive at your item's selling price, so you know what your net proceeds would be before making a decision.
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Should I sell my item directly to a private buyer?
In consultation, I discuss how you might go about locating a private buyer (someone who is not buying the item to resell it) using personal networking or the Internet. This is usually the way to get the most money out of your jewelry. (If an item is fine, sometimes the auction, collectors’ or dealers’ market is more lucrative.) Many people do not choose to sell directly to a private buyer because of security concerns or lack of time. But it is worth considering if only to know what the highest selling price of the item might be, and I have assisted some to sell in this way. I clean the item, photograph it, and advise about any needed repairs (and can have them done for you); and I give you the language with which to present the item accurately, in the most positive light.
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Why can’t I get more money for my jewelry?
People are often disappointed about the re-sale potential of their jewelry. “Isn’t jewelry supposed to be an investment?” “But gold prices are so high!” “I must have paid too much. What are retail mark-ups, anyway?” Or “What’s jewelry really worth, anyway?” The answer can be made only in the context of time, place and who the actors were. What kind of business was it? What mark-up did you pay? How long ago? And what is the situation now? Is the item of average or smaller size, or mediocre or poor quality, or is it in some way special? How long do you want to wait to sell? Comparing jewelry to almost anything else that people use in their daily lives — clothing, furniture, most cars and art — makes it look better as a store of wealth. How much value does your jewelry have, and why? Bringing you understanding of your jewelry's true value is my calling.
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