Do you have a fine bracelet that you no longer wear?
A piece of jewelry that you know has value, but you no longer like — or perhaps was a gift or heirloom that holds bad memories?
Or maybe you just need the money, and prefer to unload the item?
Lucky for you, there are quality options for selling your fine gold, platinum, gemstone, diamond and designer jewelry online that will not only help you get the highest price on the market, but also make it very easy for you.
After all, unless you are a jeweler, it can be hard to know whether you are getting honest information.
Before you sell your gold and diamond tennis bracelets, what you should know:
Holding on to the item — and all the memories and feelings attached to it, creates mental clutter, not to mention physical clutter in your house.
You might have complicated or negative feelings attached to the item, as well as the person who gave it to you.
Perhaps you've been meaning to sell or trade it in for a while — and that is just another item on your to-do list.
Or, you have to sort through a mess of unworn jewelry ever time you try to find your favorite items.
All of these are reasons to purge your jewelry box, and sell items that you do not actively enjoy.
That extra money can go towards any number of things — including beautiful new jewelry!
Unfortunately, the jewelry resell industry can have a bad reputation, and you may be wary of getting ripped off. Thankfully, there are some easy ways to understand the true value of your bracelets or other jewelry, and reputable companies that will help you sell your jewelry for the highest market price.
Value: How much are your bracelets worth?
To understand the value of your bracelet, it is important to know what you have. A quick visit to a local jeweler for an appraisal can be a good start, but the best way to get the most definitive, reliable resale price, is to buy a certified lab report from one of the leading gem grading companies: GIA or IGI.
While these reports can cost $100 to $200 or more, depending on the materials and quality of your bracelet, one online jewelry buyer, Worthy.com, offers these reports for free. I elaborate on Worthy more below.
If you already have a GIA report, or know the mark of metal and size and quality of any gemstones, then peruse some sales, including those sold at auction by Worthy.
How do I get my bracelet appraised near me?
An appraisal is different than a diamond lab report, or a certification from a qualified gemologist.
Most local jewelers in your community will offer an appraisal. This can be a good estimate of the replacement value of your jewelry, which can help you get it insured, and understand more about your earrings. Jewelers will often offer this for free. You can check your local Yelp or Better Business Bureau for recommendations for a trusted local jeweler.
However, if you want to know the true value of what your jewelry is worth, and how much you can get for it by selling, you need a certified lab report.
GIA certification for bracelets
Agin, a certification — also called a lab report, or grading report — is not the same as an appraisal.
Gemological Institute of America, or GIA, and the International Gemological Institute, or IGI, are both equipped with technical grading equipment, and provide lab reports with estimated resale values based on databases of millions of recent sales.
Worthy works with both of these laboratories, which provide the most respected, independent, third-party certifications, a.k.a. lab reports, which costs $100 to $200, or more.
If you chose to sell your jewelry at Worthy, you will get a free IGI or GIA certificate, which is yours to keep, even in the event you chose not to sell.
How much are diamond tennis bracelets worth?
Again, the value of any piece of fine jewelry depends on both what you have, as well as the market value of your item. A jewelry auction marketplace is the best way to get the true market value, since there are many buyers driving up the price, not just one (in the event you were to sell your bracelet to a local jeweler or pawn shop).
Here are examples of Worthy's recent bracelet sales:
ROUND CUT TENNIS BRACELET, H-I, SI1-SI2 SOLD AT AUCTION FOR $2,880
14k gold custom made tennis bracelet consisting of 35 round shape, natural diamonds , weighing 6.97 – 7.0 carats (cttw). The stones color and clarity ranging H-I and SI1-SI2 respectively, according to GIA grading scale. and carries a IGI grading report.
ROUND CUT TENNIS BRACELET, I-J, SI2-I1 SOLD AT AUCTION FOR $6,277
How much are 14k and 18k gold bracelets worth?
Chain jewelry without gemstones, and those that are not marked by a know brand like Tiffany, Cartier, Roberto Coin, or others, are mostly worth what is know as scrap — or the price of the weight of the gold itself. You can check out eBay for ongoing auctions for gold scrap lots — or a small collection of small jewelry like rings, earrings bracelets and necklaces that will eventually be melted down. A recent jewelry auction of 14 grams of 14k gold items sold for $256. Similarly, a 1.3 gram, 18k gold chain bracelet sold on the site for $161.
Where to sell your jewelry
Traditionally, if you had fine jewelry to sell, you went to your local jeweler, he or she offered a price, and a deal was struck.
If you lived in a large enough community, you might have the option to shop the item around to several jewelers.
Today, you might find jewelers through Yelp or Google.
Thankfully, today there are great online resources for helping you sell your bracelet or other jewelry for the best possible price.
Not only can you be assured you get the most money for the market, but selling online is also easier than in real life. You typically don't even need to leave your house.
I have researched all the major online jewelry places, and by far the most transparent company is Worthy.com.
Worthy is unique because it is a marketplace, which means that Worthy lists your item online, and creates a live auction, which can be bid on by anyone in the world — not just one, local jeweler.
This process ensures the highest market price, in the shortest amount of time.
I have sold jewelry through Worthy and really like that they help you understand what 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.
Read more about them in my review here.
If your item is worth less than $1,200, CashforDiamonds, and its sister site CashforGold, are reputable sites that buy lower-end gold, silver, platinum and diamond jewelry and other items.
HOW TO SELL YOUR BRACELET 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.
- 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.
How do you know that the price is fair?
Ultimately, Worthy lets you decide whether you want to sell your item for the price it is offered.
But if you don't know a lot about fine jewelry, how can you tell?
One of the best perks of working with Worthy is that each item is individually photographed and analyzed by GIA, the Gemological Institute of America. GIA is a very, very trusted institute that grades fine jewelry, and has been around for 86 years.
The laboratory employs certified gemologists whose whole mission is to protect buyers from scams in the jewelry industry, because — let’s face it — the industry does have a not-great reputation, and under-pricing is common.
Fees, insurance 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 DIAMONDS AND OTHER VALUABLE JEWELRY
If your jewelry is modest, 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 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.
Overall, Worthy has really set itself apart as a leader in the jeweler buyer market. 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.