If you have the time and patience, the best way to sell your gold jewelry is probably through an online sale or auction like via eBay. By observing comparable auctions on eBay, you can get a good idea of how much your jewelry is worth, as well as the best way to sell it. You don't have to be an expert to sell gold jewelry online. In today's gold market, anyone can sell their unwanted gold pieces on eBay. The nice thing about selling your gold jewelry on eBay is that you can ensure you will get a higher price than you would from the refiner by listing it with a minimum reserve price that is above the price of scrap gold.
Unfortunately, this method is also time and work intensive: in addition to your research on comparable auctions, you will need to take several photographs of your gold jewelry and will have to set up the auction itself. If you don't have a Paypal account, you'll probably want to open one, as most payments are done through Paypal.
If you are willing to spend time and work to sell your gold jewelry through an online sale or auction via eBay, here are a few steps to follow.
Step 1: Get your Gold Jewelry Appraised
Get the gold jewelry appraised to know the total weight, karat, and quality -- this will give the buyer more confidence and give you a price estimate.
Step 2: Compare Similar Auction Items
Do some research on eBay and other websites and look for similar jewelry to the item so you can learn how much the item is worth when you sell it through the site. If others are selling it, so can you. Just keep in mind, just because it's listed, doesn't mean it's selling. Also take a look at the pages of items that sold. See how they're worded and formatted. Read their titles, sub-titles, and descriptions to give you a good idea on what works and what doesn't. Also note their starting bid.
Step 3: Clean and Polish your Item
You'll need to get those items cleaned and polished so they look their best. Items that look brand new will sell better. Unless it's Vintage or if it's Antique, leave it as is! Make your Diamonds and Gemstones sparkle, it'll help them look great in the photos.
Step 4: List Item on eBay
Make sure you list your gold jewelry in the appropriate
category. Describe each gold jewelry item in detail (style, condition, finish, ring size, length of the chain, type, weight, color, size of your gold, appraisal, certification, etc.). The more details you give up front, the less questions you'll have to answer during the auction later. Also list the appraisal price or regular retail price. People will need to know what it's worth before they bid. And don't exaggerate on what it's worth. If it sounds too high, people won't bid.
Don't forget to take several clear pictures with at least one of them showing the weight on a digital scale. Have more than just one and not just any photos, but good quality, close-up photos. Choose the best 5-7 shots that really show your ring or jewelry off well. You want to show the details crisp and clean. Take different shots and multiple angles and views. Make sure to shoot the underside of the ring and the inside of it as well. You'll want to try to capture all the Karat Stamps, Hallmarks, and any Identifying Trade Marks. People would feel more comfortable buying if they can actually see the markings.
Also, make sure your title is a good one! Which is better? "Ruby & Diamond Ring" or "Stunning 4.25ct Ruby & Diamond Ring 14kt Gold" Use great descriptive words like: Elegant, Stunning, Genuine, New, Estate, Vintage, Rare, Beautiful, Gorgeous, Unique.
It's recommended that you set all your auctions to END on Sunday evening. That's the best day and time of the week to end auctions. Sunday night is when everyone's home and watching the eBay auctions end! You'll end up selling more by doing so, and making more money.
Step 5: Set Your Price
Set reserve or minimum asking price above scrap price and don't forget to factor in the listing and shipping costs to your minimum list price as well.
Step 6: Wait It Out
Wait for the gold to sell, which can take as long as 30 days depending on the listing. More time may garner more bids and competition, but if you need quick cash, then this may not be right for you. Once it sells, remember, Ebay and PayPal will take their cut of the profits. And as soon as you get paid, ship the item promptly! Send it out immediately and send it well packaged also. And insure it properly! You never know what will happen to it.
If you have the time and patience, the best way to sell your gold jewelry is probably through an online sale or auction like via eBay. By observing comparable auctions on eBay, you can get a good idea of how much your jewelry is worth, as well as the best way to sell it. You don't have to be an expert to sell gold jewelry online. In today's gold market, anyone can sell their unwanted gold pieces on eBay. The nice thing about selling your gold jewelry on eBay is that you can ensure you will get a higher price than you would from the refiner by listing it with a minimum reserve price that is above the price of scrap gold.
Unfortunately, this method is also time and work intensive: in addition to your research on comparable auctions, you will need to take several photographs of your gold jewelry and will have to set up the auction itself. If you don't have a Paypal account, you'll probably want to open one, as most payments are done through Paypal.
If you are willing to spend time and work to sell your gold jewelry through an online sale or auction via eBay, here are a few steps to follow.
Step 1: Get your Gold Jewelry Appraised
Get the gold jewelry appraised to know the total weight, karat, and quality -- this will give the buyer more confidence and give you a price estimate.
Step 2: Compare Similar Auction Items
Do some research on eBay and other websites and look for similar jewelry to the item so you can learn how much the item is worth when you sell it through the site. If others are selling it, so can you. Just keep in mind, just because it's listed, doesn't mean it's selling. Also take a look at the pages of items that sold. See how they're worded and formatted. Read their titles, sub-titles, and descriptions to give you a good idea on what works and what doesn't. Also note their starting bid.
Step 3: Clean and Polish your Item
You'll need to get those items cleaned and polished so they look their best. Items that look brand new will sell better. Unless it's Vintage or if it's Antique, leave it as is! Make your Diamonds and Gemstones sparkle, it'll help them look great in the photos.
Step 4: List Item on eBay
Make sure you list your gold jewelry in the appropriate
category. Describe each gold jewelry item in detail (style, condition, finish, ring size, length of the chain, type, weight, color, size of your gold, appraisal, certification, etc.). The more details you give up front, the less questions you'll have to answer during the auction later. Also list the appraisal price or regular retail price. People will need to know what it's worth before they bid. And don't exaggerate on what it's worth. If it sounds too high, people won't bid.
Don't forget to take several clear pictures with at least one of them showing the weight on a digital scale. Have more than just one and not just any photos, but good quality, close-up photos. Choose the best 5-7 shots that really show your ring or jewelry off well. You want to show the details crisp and clean. Take different shots and multiple angles and views. Make sure to shoot the underside of the ring and the inside of it as well. You'll want to try to capture all the Karat Stamps, Hallmarks, and any Identifying Trade Marks. People would feel more comfortable buying if they can actually see the markings.
Also, make sure your title is a good one! Which is better? "Ruby & Diamond Ring" or "Stunning 4.25ct Ruby & Diamond Ring 14kt Gold" Use great descriptive words like: Elegant, Stunning, Genuine, New, Estate, Vintage, Rare, Beautiful, Gorgeous, Unique.
It's recommended that you set all your auctions to END on Sunday evening. That's the best day and time of the week to end auctions. Sunday night is when everyone's home and watching the eBay auctions end! You'll end up selling more by doing so, and making more money.
Step 5: Set Your Price
Set reserve or minimum asking price above scrap price and don't forget to factor in the listing and shipping costs to your minimum list price as well.
Step 6: Wait It Out
Wait for the gold to sell, which can take as long as 30 days depending on the listing. More time may garner more bids and competition, but if you need quick cash, then this may not be right for you. Once it sells, remember, Ebay and PayPal will take their cut of the profits. And as soon as you get paid, ship the item promptly! Send it out immediately and send it well packaged also. And insure it properly! You never know what will happen to it.
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