Where to sell silver jewelry for cash? Asked Ashley
Hi guys! I would like to sell my silver jewelry because I don’t like it anymore and I can need some extra money for my little sister’s sweet sixteen birthday. Can you help me to find a good place where to sell silver jewelry for cash?
Ashley from Milwaukee in Wisconsin
Hello Ashley! Nice to meet you. It’s my pleasure to assist you with your concern. Selling silver jewelry can be very easy but you have to consider some important things. I help you to find the best place where to sell silver jewelry for cash.
reDollar appraiser, Maria Tait
Ashley wants to know, where to sell silver jewelry for cash
Ashley: Thank you for your quick response Maria. I would like to sell some silver jewelry that I don’t need anymore. Can you tell me where to sell my silver jewelry for cash?
Maria: Of course! Can you describe the silver jewelry that you want to sell? It’s important to know what you have before I can recommend a good place where to sell it. Some pieces could be suited for selling via an auction house or an online auction, some pieces could be suited to sell to a usual silver buyer. It depends strongly on the characteristics of the particular piece of jewelry.
Ashley: I understand. First I have two Tiffany necklaces and one Tiffany bracelet. Nothing special, you know, I think this are the wide-spread Tiffany necklaces with the heart pendant. So I’m afraid they are not very rare. In addition to that I would like to sell a Pandora bracelet and some old silver rings which I have bought on a Greek market many years before. This rings are already tarnished and don’t look very pretty anymore.
Maria: Ok, I understand. Could you please send me photos of your silver jewelry?
Ashley: I’d be glad to!
Maria: Thank you! What I can see on your photos is that you own two nice Tiffany necklaces. One is a round tag pendant-necklace from the series Return to Tiffany, which was designed in 1969. The second one is from the same series but it has a heart tag pendant, also this necklace is based on a design from 1969. The return to Tiffany series shows the most popular design of Tiffany necklaces and the majority of people connect this design straightly with Tiffany. There are so many falsifications of this necklaces in circulation so that my next question is about the origin. Can you tell me please where you bought the necklace or if it was a gift, where the buyer maybe bought it?
Ashley: One was a gift from my mum and the other was a gift from my ex-boyfriend. I’m pretty sure that they bought it at a local jeweler in our town.
Maria: Ok, that’s fine. Then we can be sure that the pieces are authentic. Tiffany produces its silver jewelry with Sterling silver, 925 silver. For selling such pieces I would recommend to sell them via an online auction house like eBay. Of course you could also sell this silver necklaces to a usual gold buyer, but I know that it’s also very lucrative to sell them via online auction houses because that way you can realize fancy prices. Many collector’s seek for pieces like those and are willing to pay much higher prices than the current material value reflects. The con is that you have to pay fees to the auction house and you are responsible for a safe shipping. In addition to that you have to describe your item properly and you can’t be sure when you will sell your items to your desired price. When you sell them by “Buy it now” you don’t know when a potential buyer finally pushes the buy button. It can take some days or also some weeks. That’s the con if you need the money immediately and if you want to make the deal quickly. Usual silver buyers will pay you only the silver value, we would pay you the silver value plus a little surcharge for the brand. If you buy the necklaces new, you have to pay around $260 for each necklace but you cannot expect this price when you sell them pre-owned.
Ashely: Thank you that’s good to know. That answers my initial question of where to sell silver jewelry for cash perfectly. For me the pro is that I can get cash when I sell with a silver buyer like you. I would like to make the transaction via my college bank account or via PayPal. But the argument of reaching maybe a collector’s price, is very alluring.
Maria: Yes, you have to find a selling method that suits you best. I would recommend the same concerning your Pandora bracelet. Popular fashion jewelry is always good to sell via online auction houses but for a fast and easy selling process I would recommend reDollar.
Ashley: What about my Greek silver rings?
Maria: Well, I would name this rings scrap silver. You told me you bought them on a market?
Ashely: Yes, I did.
Maria: We assume that the rings are not made from a famous silversmith or jeweler when they were offered on a market. I think for this rings you can only get the scrap silver price which is at the moment $16.53/oz. You can weigh your rings and multiply the weight with the stock market price. Please deduct from that price 10% and then you have your fair price for scrap silver.
Ashley: Ok, that’s fine I have just made the calculation. My rings have a weight of 0.85 ounces so I came to a fair purchase price of $12.65 for my silver rings. Do you agree to that calculation?
Maria: Yes of course! Well done Ashley! Please consider that silver does not have the same value than gold. At first blush the price seems to be low but that’s the truth, gold has a stock market price of $1,207.10/oz. so you see the difference is huge.
Ashley: Oh wow! Yes it is! What a pity that my jewelry is made of silver and not of gold.
Maria: But silver is more affordable and in my opinion it looks also very, very pretty.
Ashley: Yes it does and the quality is much better than from the jewelry of Zara, Hennes & Mauritz or other brands that sell fashion jewelry.
Maria: Yes I fully agree.
Ashley: Thank you so much for your help Maria. Now I know where to sell silver jewelry for cash.