4 Ways To Cash In On Your Used Jewelry

If you're like most people, you've probably got a good collection of jewelry at home that you've accumulated over the years. From your first pair of earrings, to inherited pieces and everything in between, your jewelry box is full of all kinds of collected treasures. Some of these pieces may mean the world to you while others have long been forgotten. 

As your collection gets bigger, pieces are worn less and less and you may eventually get to the point where you feel comfortable parting ways with some of them. It's time to clean house! But keep in mind, there are other options besides just selling your jewelry to a pawn shop or for scrap at the refinery.

Also remember that you certainly don't have to sell a piece that means a lot to you-just the ones you no longer have a use for. As the saying goes, one person's trash is another person's treasure. Before you make a final decision on what you will do with your used jewelry, explore these four options and find the best way to cash in:

Pass Meaningful Jewelry Down

If you can't bear to part with a particular piece of neglected jewelry completely but still want someone to get some use out of it, you may want to consider simply passing it down in your family. Unfortunately, if you sell your pre-owned jewelry, you probably won't receive the full retail price for it. Instead, you will get less than the value the store will eventually sell it for. This is going to be true to no matter whom you sell it to.

But, if you plan on giving jewelry as a gift some time soon, passing your old jewelry down will save you from paying the full retail price of a brand new piece. This lets you give a gift that is nicer than one you could buy for the trade-in value of your used jewelry.

If you keep the piece in the family, it will also have an added sentimental value. A random person buying your used necklace won't care that you wore it on your wedding day, but your daughter or granddaughter definitely will!

Re-purpose Into New Jewelry

Do you have a piece that has sentimental value to you, but you can no longer wear it in the condition it's in? If you answered yes, you should see if there is a way you can re-purpose it. This will help you save money on the raw materials that go into jewelry such as gemstones and precious metals. As an added bonus, you will also keep the sentimental value that the piece carries.

One great way to do this is to re-mount stones into a new piece. For example, say your grandmother handed her engagement ring down to you but you don't want to wear a diamond ring if you are not married. By re-mounting the diamonds it contains into a new necklace, you will save a ton of money and get a stunning new piece at a jaw dropping price.

Of course this is just one of the many ways to re-purpose old jewelry. We love this option because it gives you the freedom to do anything that you want and the only limit is how creative you can get with the design.

If you have an old diamond that you are considering re-purposing, check out this post to see what you can do with used or vintage diamonds for some inspiration!

Make A Trade For Store Credit

If you love to collect jewelry, then you probably own a few pieces that you don't wear that often. If you don't have an emotional attachment to these pieces, letting them collect dust in your jewelry box may not be what you really want. Make room in your collection for new jewelry by trading these used pieces in for store credit.

In addition to clearing out space for new jewelry, trading in your used jewelry will usually get you a better value than selling it for cash. At Long's Jewelers, we offer our customers 25% MORE in store credit than our cash offer for the same piece. We do this because there is value in knowing the money we give you is going to be spent with us. We want our customers to benefit from this and use it help them get the piece that they really want.

The credit is available to you on the day of the trade and never expires, so you can spend it right away or save it for your next purchase. if you plan on buying jewelry again some day soon, this is a no brainer.

Sell For Cash

If you want to get cold hard cash for your jewelry, the best option is to simply sell the piece. If you have decided that this is the right option for you, our recommendation is to do your research and find a buyer who has experience selling jewelry like yours. Since the amount that a store will offer you is based on the retail value they believe it has, stores with more knowledge and expertise in your jewelry will give you the most fair offer.

It can be difficult to determine who will be able to re-sell your jewelry best, but there are certain things to look for in a seller that will make your decision easier. We recommend that you ask yourself the following questions for every business that you consider selling your used jewelry to:

• Does the store have a "pre-owned" or "estate" jewelry section?
• Is the primary focus of the business selling jewelry?
• Would you personally go to this store to buy a piece of jewelry for yourself?
• What do the reviews of this company say?
• Is the buyer a trained specialist in jewelry appraisal?

 Once you take these few things into consideration, you should have no problem finding a business to buy your used jewelry and that much closer to earning your cash!