Stamp expert & buyer with over 40 years of experience.
10 Terms About Jewelry Buyers
The jewelry buying industry is a hot market as the price of gold is sky high. If you are considering selling some of your old jewelry, such as necklaces, bracelets and rings, to a jewelry buyer, you should familiarize yourself with some industry lingo before heading out to sell your items. If you are selling custom pieces, it is always a good idea to get quotes from more than one jewelry buyer to be sure that you are getting a good price.
Jewelry - Items made of metals and elements such as gold, silver, platinum or titanium and worn for enjoyment or to enhance an outfit.
Stone - A mineral or rock added to a piece of jewelery to enhance it, such as a diamond or pearl.
Necklace - A piece of jewelry worn around a person's neck. It can be plain or contain gems or rhinestones.
Ring - A circle of metal worn on the finger. Wedding rings and engagement rings are a symbol that a person is spoken for romantically.
Wholesale - Selling items in large quantities at cheap prices to be resold.
Vintage - Pertaining to a certain period of time. Vintage jewelry from different decades often go in and out of style.
Antique - Representing an older time. Antique watches and earrings are often passed down from one generation to another.
Dealer - A person who distributes or sells something.
Purchase - Paying for a good or service using cash or credit.
Rhinestone - An artificial gem often made of glass or paste. Jade is a popular color for rhinestones.
Jewelry buyers will often purchase gold, silver, pearls, and other previous items from individuals and businesses. Some of the companies purchase used engagement rings, bracelets, and gold watches from individuals because they plan to melt them down and resell them to manufacturers and designers. Other dealers buy rings, necklaces, and pearly because they plan to resell them to other consumers.
Jewelry buyers that primarily want scrap might not be interested in previous gemstones, rhinestones, and jade. Since these items cannot be melted, the buyers have little use for them. These dealers usually pay for the weight of the previous metal. That means they do not consider the added value of custom or vintage jewelry. You could, however, potentially sell broken necklaces and watches to these companies.
Dealers that plan to resell the items to consumers might consider paying more for antique and custom pieces. They often base the value of jewelry on more than just how much the platinum, titanium, and gold is worth. This means that you could potentially get more money for pieces that include intricate designs, diamonds, and historical significance.
You can learn more about the wholesale and retail companies that purchase jewelry by using a popular Internet search engine to locate their websites. You could find that many of these companies sell their earrings, wedding rings, and necklaces at cheap prices.
By comparing the different companies, you can decide which one you would like to sell your jewelry to. You might also read forums to decide which ones offer the best services and payments.