Selling Old Jewelry For Cash

If, in spite of your best efforts, you find yourself among the millions of people who are struggling to stay afloat financially, you may be thinking of selling old and unused jewelry.

While, as far as your fashion sense is concerned, that old jewelry might have lost its luster, it may be more dazzling than ever as far as its monetary value is concerned. Collapsing stock markets always mean soaring gold prices, and today's struggling market  is no different. While deciding to raise cash with your old jewelry may not make much sense in some economic climates, this most definitely is not one of them! The price of gold and other precious metals has risen so much, in fact, that continuing to hang on to your old jewelry in anticipation of further price increases really doesn't make much sense - especially if you need cash urgently.

The only negative aspect of selling old jewelry for cash in such an economic environment is that whenever the price of precious metals rises as much as it has in recent months, many unscrupulous entrepreneurs use the higher prices to take advantage of people's need for money. They make offers for old jewelry which are far less than what it is actually worth. If you have decided that selling old jewelry for cash is one way to help yourself out of your financial difficulties, you may benefit from some advice on how to go about doing it.

Begin by listening to what the Better Business Bureau has to say about selling old jewelry for cash. They claim that, as far as gold purchasers go, you'd be wise to avoid any company which puts a lot of effort into advertising their gold buying services in late-night infomercials. Almost all of those companies have websites where you can make arrangements to sell your old jewelry, and those websites have received more complaints in the past 18 months than any other companies which purchase jewelry.

Most of these online companies, however, appeal to those who are the most desperate need of cash. They offer, for a small fee, to deposit the amount they're willing to pay for the old jewelry directly into the seller's checking account within 24 hours of receiving and examining the jewelry. They also will offer to pay by check, and allow the seller 10 days to decide whether or not to cash the check. If the seller decides the price isn't good enough, he or she can simply return the check and hope that the jewelry will likewise be returned. It may take as long as 30 days for the jury to be mailed back, and that's 30 days during which it can't be sold to someone else.

Another way of selling jewelry for cash which is rapidly gaining popularity is the gold selling party. New twists on the Tupperware party concept, gold selling parties are ideal for anyone selling old jewelry for cash, but they are even more lucrative for the people who hold them. You can bring your old jewelry, or anything else you have with gold content, to a gold selling party where it will be evaluated by either a professional gold buyer or by a host who has purchased a gold selling party kit. A gold selling party kit contains a scale for weighing the different items, a device which will enable you to determine the percentage of gold in each item, a list of how much you should pay for different items, and an assessment of how much you can reasonably expect to profit. If you decide to act as the buyer your own party, however, keep in mind that the party kit will usually cost in excess of $500.

If you decide to simply host the party and invite a gold buying professional, you'll get a commission (about 10%) off the top of whatever your guests make by selling their old jewelry, and you may also be a reimbursed for the cost of any refreshments you have provided. If you're not interested in hosting a party, but intend to try selling your old jewelry for cash at one, remember that you'll be paying the commission.

The easiest and safest way to sell old jewelry for cash, however, is to simply call around to the professional jewelers in your area and ask them if they buy old jewelry. Simply collect all the jewelry you intend to sell and take it to each of the jewelers interested in purchasing it. They'll run it through a few basic tests before making their offers.  Shop it around until you find it offer you like, and don't be afraid to negotiate because the first offer is almost certainly going to be a rock-bottom price!