Selling jewelry/gold? (pay, rates, Colorado, jewelers)

[SunnyTXsmile]

In an effort to thin out things I don't use, in the past, I've sold my less expensive jewelry, but didn't put much thought into where I was going to sell it (I went with a pawn shop because it was quick and easy).

I've sold furniture through consignment and auction before, but never jewelry.

I have some very expensive jewelry I'm now ready to sell (I mean, I haven't worn some of it in 7 years), but am wondering which is the best way to go:
- consignment,
- auction, or
- gold buyer/pawn shop.

Any suggestions?

I'm also wondering if there's a better time of year to sell (I was thinking closer to the holidays might be smart).

[daperdanguy]

You can stop by at Gold Money Express in Eden Prairie Mall or the Southdale Mall. They gave me the best deal for my gold and were fair. The other alternative would be acutions, but you know they have seller fees.

Good Luck,

Daper Dan.

[jghorton]

- Just curious about the heavy advertising of the many gold-buying pawn shops, including standing on street corners with signs. I can only assume that 'buying gold' is very profitable. Do they pay anywhere near what gold sells for?

[VJP]

They usually pay between 30-50% of FMV for the gold you have. They have to collect it, sell it to a smelt, make a profit, but have low overhead. It's the worst place to sell your jewelry. My wife worked a short stint at one of those places in between jobs during the recession...I know ALL the ins and outs. You're only going there to get rid of it, not to get paid even 75% of FMV.

[SorryIMovedBack]

diamondbistro.com
loupetroop.com
Pricescope.com, preloved jewels for members there
idnowidont.com, which operates as an escrow service
etc.

I suggest joining Pricescope and posting items and/or asking questions there. The jewelers there may buy your stuff, too.

[rothbear]

Check and see if you have any refiners in the area. They are the ones that the stores sell their "bought" gold to for smelting. So if you cut out the middleman you get more for your gold. Not sure if there are any in your area, but if you happen to be near Charlotte, NC there is one called Cascade Refiners. They are a branch of one in Colorado. I would check in the areas where you might be traveling to see if there are any around.

Unfortunately, this is not the time to sell gold since it has dropped so much. I have some I need to sell as well, but am thinking about waiting. But then again who knows when it will or even may be back to $1800/oz. again???