Perhaps you are tired of the same old jewelry you have worn for years, or months. What could you do with it?
- You could sell it back to the jewelry store – most jewelry stores are willing to do this.
- You could trade it to the jeweler for new pieces.
- You could get really creative and use it as a wall art hanging…but I digress;)
How Much Can You Sell Old Jewelry For?
Just like driving a new car off the car lot, the value of your jewelry went down the instant you walked out of the store with it. The local jewelry store has a lot of overhead to pay for: Rent, electricity for all those dazzling lights, employee pay, etc. All of that is priced into the jewelry you buy there. It’s called retail markup. So as a general rule, your jewelry is now worth less than what you paid for it, unless you bought in online where their are more savings.
But let’s suppose you have some 10K, 14K or higher gold chain, bracelets, or what-have-you, and you bring them in to the store. The jeweler is going to be looking at these pieces not necessarily as “jewelry”, but as gold. The more actual gold your jewelry contains, the more it’s worth. Does this make sense?
If the jewelry contains precious stones, they too are evaluated as to their wholesale worth, which is considerably less than you paid at retail.
So, in general, the local jewelry store is going to offer you about 20% of the original value.
What If I Trade for a New Piece of Jewelry?
Here’s another option you have. Instead of settling for a fraction of what you paid for your jewelry originally, why not negotiate a trade for a new piece? The jeweler may be willing to be a little more generous on a trade-in.
It’s entirely up to you, of course. You just need to know going in that your jewelry isn’t necessarily as valuable as you think, and use your best judgment on trading it for cash or more jewelry.