How to sell your necklace online, and questions to ask to get the most cash
Ever considered selling your necklace online? Remember that pearl necklace your ex bought you years ago as a last-minute anniversary gift?
How about that diamond necklace you picked out for your 30th birthday?
Whether you choose to admit it or not, jewelry often carries a strong emotional bond with it – for better or for worse.
Odds are that you’ve got at least one item that you no longer treasure.
A piece of jewelry that you know has value, but you no longer like — or perhaps it was an heirloom or antique that you don’t mind parting with. (I write about making that decision to sell estate jewelry here.)
Whatever the reason, there is a very good chance that extra cash will serve you better than stale memories.
In other words: It’s time to sell your jewelry.
Lucky for you, there are quality options for selling fine jewelry online – and that includes gold, platinum, gemstone, diamond, engagement and bridal, and designer jewelry.
There are reputable, trustworthy online services that will not only help you get the highest price on the market, but will also make it very easy for you.
After all, unless you are a jeweler, it can be hard to know whether you are getting the best price for your jewelry.
That is why the industry can have a not-so-good reputation.
Luckily, there are quality options for selling fine jewelry online – and that includes gold, platinum, gemstone, diamond, engagement and bridal, and designer jewelry. And my best recommendations is to sell jewelry using Worthy.
Why you should sell your necklace
For starters, no matter how pretty, or how sentimental, or how valuable, jewelry sitting in a jewelry box, back of the closet, or in a safe is wasted.
Further, no else can enjoy it, either — except maybe the dust mites that call that forgotten corner of your jewelry box home. If you’re not feeling it, why keep it around?
It’s taking up space that could be used for a piece you like better, and it’s just a wasted opportunity to pay off debt, go on vacation, start investing, renovate the bathroom — whatever.
Plus, if the necklace carries emotional baggage, selling it is a good way to swap bad vibes for a little something extra in the bank.
Which, of course, is always, always GOOD vibes!
Maybe you feel bad about parting ways with the item, especially if the necklace was a gift. But keep in mind: The necklace might not work for you, but that doesn’t mean it’s not perfect for someone else.
You might just make someone’s day — and get a little something back in the process.
Spread the love!
And like any spring cleaning, this is a good chance to go through the rest of your jewelry, too.
Are there other pieces that just don’t make the cut?
How much is a gold necklace worth?
The value of your gold necklace depends on many factors. These include the materials used (quality of gold and/or platinum), the quality of any gemstones or semi-precious stones, if it is has a designer luxury mark, and the market value of your necklace.
The best way to determine the value of your gold necklace is through a formal appraisal at a local jeweler near you, which I recommend for items valued at less than $1,200, or, if you expect the necklace to be worth more than that sum, get a GIA or IGI certificate, which will cost you around $100 or less. If you chose to go through Worthy.com (which only accepts items for its online auction of at least $1,200), then they pay for a GIA or IGI lab report and certificate, 100% free.
How much is a gold necklace worth?
The higher the karat amount in gold, the more valuable it is. Again, this depends on the factors mentioned above. A simple, thin chain necklace without gemstones, will typically be worth between $100 and $200 in scrap prices. Meanwhile, Worthy sells many necklaces for thousands of dollars. Examples include a 35-gram 14k gold and diamond necklace for $1,858, and a 15-gram 18k gold and diamond necklace for $4,050.
At the time of publication, these are the scrap market prices for a 5 gram chain gold necklace, according to CashforGold, which is a good option for lower-priced gold and silver jewelry.
10k gold necklace is worth: $87
14k gold necklace is worth: $122
18k gold necklace is worth: $157
Where to sell necklaces
For lower-end gold and silver chain necklaces that are not branded, as well as those with small diamonds, a local jeweler, pawn shop, or a reputable online buyer like CashforGoldUSA are a good option.
However, for larger necklaces, especially those with gemstones, or those branded by a known jeweler like Tiffany, Cartier, Graf
You can actually sell your jewelry without leaving the house.
That means not dealing with downtown parking for a high-end jeweler, not having to squeeze a trip to the mall into your busy schedule, and, frankly, not having to deal with the hassle of figuring it all out in the first place.
You can sit back and sip coffee while easily researching jewelry that you might want to sell.
Online research gives you a starting point and a rough idea of what you’re working with. But instead of a face-to-face appraisal with a jeweler who, in the best scenario, is honest but is just one, single source of information and a price quote, and in other scenarios, is shady. and leaving things in their hands, you can actually take control.
Worthy is an online — but the company’s staff helps you get the get the best deal and you get to keep an eye on the process the whole time. You can read my review of using Worthy here.
You can sell loose, used estate and antique diamonds, watches, bracelets and rings on Worthy, too.
The site will walk you through a quick appraisal process, which involves you providing a few details about the piece of jewelry you want to sell and snapping a photo.
Worthy’s experts provide you with a trending market price and send you an insured FedEx shipping label.
This is especially helpful for selling diamond jewelry.
Basically, you can relax once you put your necklace in the box and wave goodbye.
The folks at Worthy will have the jewelry authenticated and provide a professional photo and report to help it sell online.
In fact, the process seems too easy to be true!
I've sold jewelry through Worthy and really appreciate that they help you understand how much your jewelry is worth, provide a GIA certified report on the item, and offer excellent, patient customer service throughout.
Plus, they have an A+ rating with the Better Business Bureau, or BBB, which is important to me.
How to sell your necklace online:
- Go to Worthy.com
- Enter your name and email, along with basic information (color, carat weight, clarity, etc.) about your jewelry, including size and grade of your jewelry or stone.
- Receive an estimated market value for your piece right then and there. This process takes about 2 minutes.
- A very nice customer service representative calls to answer all your questions and tells you what will happen next.
- Ship your item. If that price suits you, Worthy will send a FedEx delivery person to your house the next business day (or sometimes the same day!), in which you send the jewelry, diamond or watch to them — Worthy pays for all shipping and insures the item for up to $1 million (yes, really!).
- Agree on a “reserve price,” or the lowest price you are willing to accept.
- Your item is auctioned. Worthy will put your jewelry in front of at least 100 potential buyers worldwide, who can then bid on your item.
- Receive an offer within 7 days of Worthy receiving your item.
- Get paid. After you confirm the sale, you’ll receive payment within 24 hours, including through PayPal or your bank account. Cha-ching!
I even filmed a video about my own experience selling jewelry on Worthy:
How do you know that the price is fair?
Worthy's jewelry evaluation process is actually a pretty big deal.
They work with the Gemological Institute of America, which specializes in analyzing and pricing fine jewelry — especially pieces with diamonds.
Worthy keeps you updated throughout the appraisal process and, in the end, leaves it up to you to decide if your piece goes up for sale at the final appraised price.
Plus, the report from GIA will be available for you to inspect for yourself.
Fees and guarantees
Worthy takes up to 20 percent of the sale price.
They are very transparent: if they don’t sell your item for at least the reserve price, they return it to you, free of charge, no questions asked.
I also love that Worthy will pay you $100 if you successfully sell your auctioned item to an independent jeweler for a price higher than Worthy was able to offer.
I was recently on The Doctors, talking about the importance of selling your old wedding ring to pay the bills:
More ways to sell diamond and other valuable jewelry
If your jewelry is modest, and you expect less than $1,200, there are other options.
In my jewelry box were a couple of modest gold and diamond rings that a relative had given me when I married. Bye!
I did some research and decided to try to sell the rings at CashforGoldUSA and CashforDiamondsUSA (they have the same parent company), one of those places that advertise on TV.
Those sites always seemed super-cheesy. But I researched this one.
The parent company, CJ Environmental, has a BBB rating of B+. From past research I’ve done as a business journalist on selling gold jewelry (including dental fillings. I’m not even kidding), I know mail-in services like this can be a good deal, as can your local pawn shop. Just research them first.
I decided to try CashforDiamondsUSA.
It turned out to be really easy. I entered my name and address on their website, they sent me a mailer, I stuck the jewelry in it, dropped it in the mailbox and two weeks later got a check (they also give you a tracking number to chart it online).
I was pleasantly surprised. One of the rings – 12-carat gold with a couple of small diamonds – fetched a $159 check.
The other, similar, but of indeterminate quality, was actually returned.
I was at first disappointed, but the rejection made me trust the company more.
They were being honest: Nothing personal, the return implied, but your crappy ring is dead to us.
In short …
If you have a valuable gold, gemstone, or diamond necklace, best place to sell is via online auction at Worthy, which has an A+ BBB rating, gives you a free GIA or IGI certification, excellent customer support and puts the sale process in your hands, all from the comfort of your home.
Start the process of letting go of old things >>
Emma Johnson is a veteran money journalist, noted blogger, bestselling author and an host of the award-winning podcast, Like a Mother with Emma Johnson. A former Associated Press Financial Wire reporter and MSN Money columnist, Emma has written for the New York Times, Wall Street Journal, Forbes, Glamour, Oprah.com, U.S. News, Parenting, USA Today and others. Her #1 bestseller, The Kickass Single Mom (Penguin), was named to the New York Post's ‘Must Read” list.
Emma regularly comments on issues of modern families, gender equality, divorce, sex and motherhood for outlets like CNN, Headline News, New York Times, Wall Street Journal, Fox & Friends, CNBC, NPR, TIME, MONEY, O, The Oprah Magazine and The Doctors. She was named Parents magazine’s “Best of the Web,” “Top 15 Personal Finance Podcasts” by U.S. News, and a “Most Eligible New Yorker” by New York Observer.
A popular speaker, Emma presented at the United Nations Summit for Gender Equality. Read more about Emma here.