Are you looking to sell some of your jewelry for extra cash online? Maybe you have some old trinkets you don’t need anymore and want some money, or you need money urgently, and you’re willing to let go of some of your prized jewelry.
Knowing how and where to sell your used jewelry will help you earn the most money. In this guide, we’re sharing everything about how to sell jewelry online. We’re giving you the best tips and places to sell your jewelry online.
Is it profitable to sell jewelry online?
Yes, it’s highly profitable. About 29 million people buy jewelry daily. The online jewelry business is lucrative because of its high-profit margins between 25% and 75%. The global jewelry market is expected to reach $292 billion by 2025, meaning there will be a massive demand in the future.
How to sell jewelry online
To successfully sell your used jewelry online, you must follow a step-by-step process. This process will help you get the right amount for your jewelry, find the right places to sell, and avoid getting scammed. Here are the steps you should follow.
Decide on your goal
You need to decide whether you just want to make a few extra bucks or you want to build an entire business selling jewelry eventually. If you wish to make a quick buck, define your target market, then join online marketplaces like eBay, Etsy, or TheRealReal to sell your jewelry.
To make selling used jewelry a fully-fledged business, you may have to create a business plan, do market research, and observe the current jewelry trends. You’ll also need to identify your target market to develop sound strategies to reach them.
Then you’ll have to price your jewelry correctly and set up an online store on sites like Shopify, BigCommerce, or Woocommerce. When scaling your business, you may need to join online marketplaces like Etsy, Bonanza, and Amazon. Setting up social media accounts on Instagram and Facebook is also an excellent idea.
Get your jewelry appraised
An appraisal will help you determine the state and value of your jewelry. You’ll know the damage to your jewelry so that you can mitigate further damage and have appropriate repairs done.
A certified professional examiner will appraise the jewelry by examining factors such as the condition of the jewelry piece, its gemstones and their quality characteristics, and the metal and settings from which they are made.
The examiner will determine your jewelry’s estimated market value so that you can price it correctly. They will document all the findings along with a detailed description of how the process of appraisal was done.
You can find an appraiser on professional organization sites such as the International Society of Appraisers, American Gem Society, and Appraisers International Society.
Find a good online marketplace
Each has unique characteristics, so you need to find one that suits you. Here are some factors to consider before choosing a marketplace.
- Comprehensive, established, and well-defined policies
- Quick verification and onboarding
- Online safety
- Gives value for fine jewelry
- Good third-party sellers support
- Agile (responsive) platform
List your pieces appropriately
Upload as many product images as the marketplace allows so customers can see every detail of your items. Fill up all required details, including shipping information, pricing, and product description.
Your shop should have comprehensive and clear return, refund, and shipping policies to avoid misunderstandings with the buyer.
Sell safely online
Scammers are always on the lookout for unsuspecting sellers or buyers online. Protect yourself and sell safely online with these tips:
Protect your personal information
Avoid sharing your account information or your current location with buyers.
Accept payment only through the approved methods
Most sites require specific payment methods like Paypal, Stripe, Afterpay, and debit/credit cards to protect sellers and buyers. Avoid cashier’s checks, wire transfers, or money orders.
Limit communication channels
It’s best to only communicate through the online platform, so buyers don’t have access to your personal contact information.
Take extra caution with shipping
Don’t ship to an address not associated with the buyer’s profile. If you send it to an address that’s not approved, the buyer may claim they didn’t receive the package, and it may be difficult to trace. Use tracked postage and keep the tracking number for your records.
Keep personal details out of your photos
Ensure that your photos only show the item being sold and not license plate numbers, house numbers, or family members.
10 Best places to sell jewelry online
We’ve curated a list of the 10 best places to sell your used jewelry online.
Cash for Gold USA
Cash for Gold USA is a popular website selling your gold, platinum, silver, and diamond pieces. Simply fill in the request form on the company’s website to start selling. Cash for Gold USA will send you a FedEx or SAFEPAK envelope to pack and ship your jewelry to the company for free.
When Cash for Gold USA receives your package, they’ll send you a quote within 24 hours. If you’re happy with the offer, you can accept it and get paid immediately. If not, you can turn down their offer and get your items shipped back to you for free.
- The platform offers free shipping and $5000 insurance for you to send your gold to them.
- They sell all sorts of gold. The company will buy gold of any caratage from 8K to 24K in any form, including wires, dental scrap, and gold solder.
- The company has a quick processing time for quotes. When they receive your used jewelry, they’ll inspect it, and you’ll receive a quote within 24 hours.
- They offer high rates. Cash for Gold USA claims they pay up to three times more for your gold than their competitors.
- There’s a limit on the insurance. If the value of your gold exceeds $5000, they can’t insure it.
Cash for Diamonds USA
Cash for Diamonds USA offers complimentary FedEx shipping for your diamonds. They inspect and evaluate your jewelry and send you a quote within 24 hours. You can choose whether to accept their offer or not.
- They pay within 24 hours
- They will give you a reasonable price for your jewelry and offer a price match guarantee.
- If you don’t accept their offer, they guarantee a free return of your pieces.
- They give a 10% bonus if you ship to them within a week
- There’s an insurance limit. They only insure pieces worth $5000 and below.
Worthy is an online luxury marketplace that assists sellers to quickly and easily sell their jewelry. They offer consignment services, including a free (insured) shipping label. They also deliver quick payment for your items. Worthy partners with GIA gemologists for precious stone appraisals and certifications.
- Worthy has excellent customer service agents ready to help you at any point in the process.
- They are open all week and readily available by phone, email, and online chat.
- They have a quick online submission form to start selling.
- They offer free jewelry appraisals.
- They provide GIA certifications.
- Worthy cleans, photographs and lists items for you.
- They charge an 18% commission on jewelry under $5000.
When posting an item for sale on Facebook marketplace, you simply need to photograph your jewelry, enter the product name, description, price, select a category, and confirm your location. You can then post it so that anyone in your area looking for jewelry can find it and message you if they want to buy it.
- Buying and selling is simple.
- It has a simple user interface.
- There are no hidden fees. You can post and sell your used jewelry for free.
- The seller decides on shipping charges. You can decide to incorporate the cost of shipping into the price of the items or to charge shipping separately.
- Unlike popular selling and buying apps, you can’t create a brand of your own. The lack of a store means no seller identity, which might limit your sales.
- You can easily get scammed.
eBay is the biggest auction site in the world. You can list your items in a specific jewelry section on the site, making it easy for millions of users to sort and find the jewelry they wish to buy.
- Free listing for the first 250 items.
- The site has over 180 million registered buyers.
- They have a mobile app, making it easy to manage auctions on the go.
- Higher risk of scammers.
- They have a strict set of guidelines for selling jewelry.
You can sell anything on Mercari, including candles, shoes, crafts, electronics, and used jewelry. The site charges a 10% commission on sales plus a $2 processing fee for direct deposits below $10. If the bank rejects the direct deposit transfer, they charge you a $2 fee.
- Mercari allows buyers to negotiate, so they don’t necessarily walk away when they don’t like your price. Negotiation increases the chances of making a sale on your jewelry.
- They have little to no customer service for sellers.
- The seller doesn’t get paid until the buyer rates the seller and the seller rates the buyer. However, if the buyer doesn’t rate the seller in 3 days, Mercari’s system will trigger a payment to the seller.
- Mercari is known to have many scammy buyers.
Poshmark is a retailing site where you can sell clothing, purses, shoes, and jewelry. For all sales under $20, Poshmark takes a flat commission of $3.95. For sales above $20, the site takes a 20% commission.
- Poshmark allows you to promote your items. Your items will appear on your followers’ feeds, so you can share as many items as you want.
- The Poshmark community is supportive. Once you create an account, other sellers will warmly welcome you, and you will get hundreds of followers.
- It’s easy to post your listings on Pinterest, Facebook, Twitter, and Tumblr.
- Poshmark has a high commission rate. They take 20% of your sales.
- Poshmark is only available in the U.S. This limits access to international customers.
- You can reach a larger audience.
- You can directly connect with your audience.
- It’s an excellent opportunity to build a brand and get brand loyalty.
- It gives you access to paid advertising.
- It’s easy to monitor customer feedback.
- Building your brand and selling jewelry as a beginner may take a long time.
- It’s time-consuming. You must constantly create new content daily, engage with customers, and monitor customer feedback.
- You can easily fall prey to scammers on social media.
On Etsy, you can easily set up an online shop and list your jewelry for sale. The site has millions of buyers and low fees, making it perfect for starting an online jewelry business. In addition, Etsy has a built-in ads platform which will give your items more visibility.
- Creating an online shop is free, and the registration process is quick.
- Etsy has a mobile app, making it easy to manage sales.
- Etsy offers discounts on shipping which saves costs.
- The platform offers low listing and commission fees.
- If you sell an item from Etsy ads, the site charges an additional 15% fee.
The RealReal is an online consignment shop selling 100% authentic luxury items. They inspect every item for authenticity, re-sell the items, and take a commission.
If you want to sell old jewelry online, especially designer jewelry, The RealReal will help you get higher prices for your pieces. It has GIA-certified gemologists who evaluate and authenticate your jewelry. The company has retail locations around the U.S where consignors can go in and get free evaluations of their items.
- The consignment process is simple.
- They have luxury buyers looking for higher-end jewelry.
- They offer a full authentication process to get the item’s retail value.
- They charge very high commissions of 60% if the value of your items is less than $149. If you sell jewelry for $995 or more, it will attract a 30-35% commission.
- If items don’t sell for a certain period, they may lower the listing price.
Frequently asked questions
If you’d like to know more about how to sell jewelry online, we’ve answered some questions people usually ask.
Do diamonds have a good resale value?
No, they don’t. When you finally decide to sell your old diamonds, the resale value is often lower than what you spent because of the retail markup and the decrease in diamond prices. The resale value of diamonds is often between 25% and 50% of the initial purchase price.
What jewelry has the best resale value?
Platinum jewelry has the best resale value. Many jewelry wearers are buying platinum jewelry because it’s durable and scratch-resistant. Platinum is the way to go if your goal is to have a jewelry investment that will stand the test of time.
Should I get jewelry appraised before selling?
Yes, you should. Appraising your jewelry will help you understand its value to determine its best price. Buyers will be more confident purchasing your jewelry when you have an appraisal.
Where can I sell jewelry if I don’t want to sell online?
You have various options if you prefer not to sell your jewelry online. You can sell it at a local jewelry store, a pawn shop, a consignment shop, an auction house, or a local Cash for Gold store.
What can I do with old jewelry?
Besides selling old jewelry, you can recycle or repurpose it. You can also donate or give it to friends, family, or charity organizations. You can also pawn or auction old jewelry.
Ready to sell your old jewelry?
Choosing the right online platform to sell your jewelry will depend on the type of jewelry you’re selling and your goals. Our top 3 recommendations are Cash for Gold USA, Worthy, and social media.
Cash for Gold is the best option for you if you only want to make a few extra bucks quickly because they accept gold in any form. Also, they offer free shipping for your old jewelry, and you get paid within 24 hours of accepting their offer.
Worthy is an excellent option for selling luxury or expensive jewelry. They offer a free appraisal and GIA certification. They’ll also clean and take photographs of your jewelry.
Social media is an excellent platform if you intend to build a jewelry business. You get the opportunity to create a jewelry brand and reach a larger audience.
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