One of the fastest and simplest ways to earn a little extra money is to sell your fine jewelry for cash. Before heading to your local dealer, it may be helpful to understand which types of jewelry are most valuable and therefore most likely to sell. Armed with this knowledge, you will have more accurate expectations going into your consultation.
Defining Fine Jewelry
Fine jewelry is defined by the materials from which it is made; any piece that contains precious metal or a precious stone would be considered fine jewelry. Oftentimes fine jewelry will contain both, as is the case with an engagement ring, for example. These elements, like gold, silver, platinum, diamonds, and other gems, are the trait that separates fine jewelry from fashion jewelry or costume jewelry. Your local dealer is going to be most interested in your fine jewelry, as costume and fashion jewelry typically hold very little value. Pieces of fine jewelry can be worth thousands or even tens of thousands of dollars depending on their components.
What to Look For to Spot Fine Jewelry
When inspecting your fine jewelry, there are key elements you’ll want to observe to confirm the composition of your pieces. Experts recommend you begin by assessing the metal the piece contains before moving on to the stones.
Start With Metals
When trying to distinguish which of your pieces are considered fine jewelry, it is best to begin by identifying the type of metal it contains. Inspect the piece for any hallmarks that may indicate if it is made from gold, silver, or platinum. Typically these hallmarks will be present in the form of a stamp, which may or may not include a purity rating. Sterling silver will often be stamped 925 while fine silver, which is essentially pure silver, will have a 999 or 99.9 stamp. Gold’s purity is measured in carats, so you’ll want to look for a hallmark that indicates how many carats the gold in your piece contains. Examples include 10k, 14k, 18k, and 24k. While hallmarks on silver and gold jewelry are generally easy to spot, that is not always the case when it comes to platinum. Hallmark pieces may have a hallmark that reads 950, PLAT, or PT, but others contain only a mark, called a fineness mark, that is incredibly subtle, especially to the untrained eye.
It is important to keep in mind that a counterfeiter can go to great lengths to place a fake hallmark on a piece of jewelry, and your dealer will be able to confirm the metal used in your piece.
Identify Precious Stones
Presently, there are only four stones that are classified as precious stones: diamonds, emeralds, sapphires, and rubies. If your piece contains one of these stones, you’ll want to pay attention to its key traits, like cut, color, clarity, and carat, to determine its worth. Most often you will need to rely on an expert to help you discern this information. Remember that these precious stones are not the only types of stones that can add value to your fine jewelry. Sometimes large semi-precious stones can be more valuable than smaller precious stones. Gold Rush Cypress will purchase clear white diamonds at extremely competitive prices.
Branding Matters
To some degree, fine jewelry only commands the price that others are willing to pay, which means that the brand name of the piece may also factor into its value. Some modern prestige brands will attract a higher price, especially popular ones like Boucheron, Chopard, and Pomellato.
Selling Your Fine Jewelry
If you have fine jewelry that you are interested in selling, the best way to find out how much your pieces are worth is to reach out to a trusted local dealer. Selling in person ensures that you receive your payout on the spot and that you don’t have to risk your pieces being lost or damaged in the mail as you would with an online dealer.
Gold Rush has been a go-to source for those who want to sell jewelry for more than twelve years, and our team prides itself on providing excellent customer service in a discreet, professional, and comfortable environment. We will guide you step by step through the process of selling your fine jewelry, beginning with your free consultation. At Gold Rush, we strive to ensure a seamless experience and the highest possible payout.
