Wednesday, December 10, 2008

December 09, 2008

Susan B. Eisen, 915-584-0022, jewelryexpert@crazyaboutjewelry.net

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7 EXPERT TIPS FOR GETTING THE MOST FROM CASHING IN YOUR GOLD JEWELRY

With the huge upsurge in gold prices and our uncertain financial future, Americans are cleaning out their drawers and cashing in on their old jewelry. By not having knowledge or expertise about the best ways to sell their jewelry, consumers may be missing the boat and losing valuable dollars to inexperience. Interestingly enough, the same principles apply when you sell your jewelry as when you are buying it.

To get the most cash for your gold jewelry, follow these tips to get the best outcome:

1. Check the reputation of the person you are selling to. Be sure they have a sound footing in the community. Sending your jewelry to a total stranger or an 800 number can be problematic. Always deal with someone face-to-face.

2. Go to the expert in the type of jewelry you are selling. For instance, do not go to an art dealer when selling your antique jewelry. Different experts pay very different prices and whoever you choose can make a huge difference when dealing with the buyer.

3. Ask how the jewelry is being priced, i.e., by weight, by resale value, by scrap price, etc. This gives you a method to compare your prices.

4. Ask the buyer for other alternatives they may offer to get more money for your jewelry, like consignment or resale in their store. These options may take longer but may yield you more money.

5. Shop around and compare prices, make phone calls to buyers listed in the yellow pages or on the internet, and get a feeling the person you feel most comfortable dealing with.

6. Think seriously about what you are selling and be absolutely sure you are ready to part with it. Once its gone, its gone forever. Regrets will always be there if you are not completely sure when you let it go.

7. Sell to the highest bidder only after you?ve done your homework.

Susan Eisen, jewelry expert and jewelry appraiser, and author of Crazy About Jewelry! An Expert Guide to Buying, Selling, and Caring for Your Jewelry (www.crazyaboutjewelry.net, $16.95), says ?Jewelry being purchased by dealers on the street today serves many different purposes ? it may be refurbished and resold as estate jewelry, it may be redesigned, or it may be taken apart and scrapped. It is important to know what purpose the buyer has in mind for it to maximize your return.?

Lastly, before you sell your jewelry, be absolutely sure selling it is what you want to do ? if it has memories, you may want to refurbish it or redesign it and keep it in the family. Once it?s sold, take the money and save it for a rainy day.