Why Is It A Good Idea To Sell Your Broken Jewellery
A Gold Ring (Photo credit: Wikipedia)
Do you have broken jewellery lying around the house that you don’t know what to do with? This could be anything from necklaces with broken chains, through to old rings and earrings that have become tarnished or chipped, but still contain precious metals. In some cases, you can repair jewellery and continue to wear it. However, there are many opportunities to sell broken jewellery, or use it for loans, as well as making the most of its value in gold. Many companies will now pay for your broken jewellery in order to sell it on to manufacturers and refiners. In this context, it’s important to compare as many as possible on their valuations and asking prices, while considering the other benefits of selling jewellery to pawnbrokers, or directly online to specialist retailers. These options are discussed below:
Pawnbroking Benefits
Taking your broken jewellery to a pawnbrokers can have many benefits, from being able to receive cash for it, through to setting up a buyback scheme if you want to raise some quick money and then take items back. In terms of receiving cash, a pawnbrokers can assess the value of a piece of jewellery, and offer this to you with the aim of reselling it. Comparing different pawnbrokers, and checking online for valuations, can help you to negotiate a deal. Alternatively, you can sell your jewellery for a cash advance, and then buy back an item with interest if you change your mind. These deals typically last about a month, but can be extended.
Selling Jewellery Online
Another way to make money off your jewellery is to find online sellers. You can set up a page on eBay and other outlets, but will have to understand what valuations are available, and how you can best market your jewellery. This means being able to photograph items to make the most of their unique features, while adding in professional descriptions. In some cases, taking this route will mean that you can track the value of the gold in your jewellery against online figures before finding the best time to sell.
Scrap Gold
A more widespread scheme for generating money for your broken jewellery is to take advantage of gold buying services. These services typically involve you posting your gold jewellery for appraisal and valuation, before receiving an offer. Doing so can make you a lot of money off old items, but can also result in much lower valuations than are fair for a market. You also run the risk of sending your jewellery through the post, and lose the speed you may receive in terms of valuation and offers made by a local shop.
Which to Choose
When making a decision, it’s important to weigh up the different risks that are involved with letting jewellery go. Selling jewellery does contain risks, and it may be better to get appraisals from pawnbrokers, or even jeweller’s, before making any commitments. This means taking the time to get as many valuations and offers as possible, and playing them against each other. You never have to accept a price, and it’s worth remembering that as long as there’s demand for scrap gold in the marketplace, it’s possible to be very selective about who you sell to.
About the Author:
Patrick Hegarty has been supporting his family on a low income for many years. He has found selling your unused gold, in Colchester, can help boost your income. He can be found blogging about different subjects from balancing the finances to family life.
Category: Family Finances
