Last updated Feb. 15, 2020
Do you have gold, silver or diamond earrings you never wear, no longer like — or that hold bad memories?
Time to sell! Thankfully, there are safe, secure online sites that will help you sell your old jewelry, at the highest price, fast.
Not sure it is worth it to sell your earrings?
Let's do a little exercise: Picture your jewelry box, jewelry bowl, jewelry stand, box of older jewelry in your closet or safety box, wherever you keep yours.
Now, try to picture each pair of earrings.
When's the last time you actually had an occasion to wear huge dangly gold hoops?
Perhaps you've got an heirloom or antique piece of jewelry that you don’t mind parting with.
There is a very good chance that if sell your jewelry for extra cash, the money will serve you better than those pairs of earrings will.
In other words:
It’s time to sell your jewelry.
Lucky for you, there are quality options for selling jewelry online – and that includes gold, platinum, gemstone, diamond, engagement and bridal, and designer jewelry.
There are reputable, trustworthy online services, like Worthy.com, 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.
- Why you should sell your earrings
- Where to sell your jewelry
- How do you know if Worthy's price is fair?
- How to sell earrings online
- How do I get my earrings appraised near me?
- GIA certification for earrings
- Worthy's fees and guarantees
- More ways to sell diamonds and gold jewelry
Why you should sell your earrings
There’s not an earring shortage in the world, so there’s no reason to stockpile pieces of jewelry you don’t use — especially if you could use a few the money instead.
And who couldn’t use extra cash?
On top of that, think about why you’re not wearing certain earrings. Is it because you don’t like them?
Were they were well-intentioned gifts that missed the mark?
Or perhaps they bring up bad memories of an ex or loved one with whom you have a complicated relationship?
Or hell, maybe you just don't like the earrings anymore!
Any of these are perfectly valid reasons to move on — and make extra money while you do it!
Think about it: is your daughter or niece really going to wear that pair of old gold chandelier diamond earrings? Or that outdated but expensive bracelet? Will she even appreciate them?
You certainly want to weigh how much your heirlooms, estate or antique jewelry mean to you against the financial benefits of having money to spend on more enriching pursuits (like footing the bill for a much-needed girls' night out?).
Where to sell your jewelry
You could go the old-fashioned route: Try to find a few spare hours in your schedule, pour over respectable jewelers in your area, get gussied up, deal with parking, haggle over the offer and leave your old jewelry behind, wondering if you got the best possible deal — if not totally screwed.
Or, you can explore online platforms that help you sell your jewelry for the highest price to hundreds of bidders around the world.
Feel free to research other options, but here are what made an impression on me: Worthy lets you sell your old fine jewelry in its online auction but allows you to stay involved at every step along the way.
On top of that, the company only works with serious buyers – we’re talking about interested parties from all over the world, not just in your ZIP code.
And all you have to do is spend a few minutes creating an account, send in a few pics with your phone, and return the FedEx mailer — then watch the bids roll in.
Worthy handles the rest.
The company provides an initial assessment based on the info you provide, gives you a trending market price so you have an idea of what you’re working with, then they will send you an insured FedEx shipping label so you can send your earrings or other jewelry or watches off with a sense of security.
Then, Worthy has your jewelry evaluated by experts who take professional photos that will make your jewelry stand out even more to potential buyers.
I've actually been selling a few pieces of my own lately through Worthy.
If you've read my blog for any length of time, you know that I'm a sucker for an A+ rating with the Better Business Bureau, which Worthy has.
How to sell earrings 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!
If you're more of a visual learner, check out this video I made detailing my own experience selling jewelry on Worthy:
What is the value of my earrings?
Understanding the value of your earrings or other fine jewelry has many factors. These include:
- Are your earrings a know brand, such as Tiffany, Cartier, Van Cleef & Arpels, Bulgari, Graff, Chopard or David Yurman?
- What is the quality of the diamond, gold or silver in the earrings?
Understand the value of your gold jewelry:
First, you want to know how much you will get when you sell your gold. You can get an estimate at CashforGoldUSA's online calculator.
CashforGoldUSA is a 30-year-old U.S., family-owned company that was found by a Fox News investigation to pay 3X its competitors for gold and diamonds.
The value of your gold is based on the current market price of gold bullion, but considers several other factors. As of Feb. 15, 2020, gold was at a near-record price of $1,579.82 per ounce, or $50.80 per gram.
Gold prices have surged by 27% over the past 12 months — and 433% since 2000. When the economy and stocks are unstable, prices of gold historically rise. In other words: Now is an excellent time to sell your gold!
How to find the quality and value of your gold:
Check for a stamp. A real gold item will have a purity marking on the back or inside. This stamp is typically either a carat number, such as 18K, or 12K, in the shape of a rectangle with the corners cut off, and with a number inside. Here is the meaning of those numbers:
999 = 24 karat, 99.9% gold
990 = 22 karat, 99% gold
916 = 22 karat, 91.6% gold
750 = 18 karat, 75% gold
585 = 14 karat, 58.5% gold
375 = 9 carat, 37.5% gold
How to tell if gold is real with a lighter. Hold your gold jewelry or coin to the steady flame of a lighter or oven. Real gold will get bright hot after a while, but will not darken. Fake gold will darken or otherwise change color.
Test your gold with a magnet. Gold is not magnetic.
Float test. Real gold will not float, and will not rust.
Skin test. Real gold jewelry will not turn your skin black or green.
Get an instant, free estimate for your gold earrings with CashforGold's online gold calculator >>
How do you know if Worthy's price is fair?
CashforGoldUSA is best for gold, silver and diamond earrings and other jewelry that will sell for less than $1,000.
Worthy is best suited for earrings, watches and rings that will sell for more than $1,000.
If you go with Worthy, trust that this is a very reputable, established company.
First, the size of the field of buyers helps ensure no one is trying to swindle you out of your earrings. But more importantly is that Worthy's assessment isn’t just done in-house.
The site partners with the Gemological Institute of America (GIA), the nation's leading, trusted source for analyzing and pricing fine jewelry.
I have gone through this process to sell jewelry several times, and it really does help that Worthy's online portal, as well as their real-life human customer service reps keep you informed of every step of the way.
Plus, through almost every step, you can back out of the process — including after inspecting the report from GIA which details the item and provides an estimated market price range.
How do I get my earrings 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.
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 earrings
Again, a certification, or grading report, is not the same as an appraisal.
An appraisal is typically done by a single jeweler, such as a jewelry store owner, based on their expert opinion.
An appraisal for insurance purposes (commonly provided by local jewelers), is typically much, much higher than the actual resale value of your diamond jewelry.
Gemological Institute of America, or GIA, based in New York City, and the International Gemological Institute, or IGI, based in Antwerp, Belgium, are the two most respected international laboratories — both equipped with technical grading equipment. Both 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, also called lab reports.
A GIA certificate, or IGI certificate, provides definitive grading information about your earrings or other jewelry, which costs $100 to $200, or more.
If you chose to sell your engagement ring or other diamond or gemstone 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.
Worthy's fees and guarantees
Worthy takes a cut of up to 20 percent of the sale price.
Their transparency is one of the best things about them. In fact, if they don’t sell your jewelry 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.
Gotta love a little healthy competition!
For more insight on selling jewelry online, 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 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. Buh-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 to me. 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 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 CashforGoldUSA. Super-easy:
- I entered my name and address on their website, they sent me a USPS mailer, I stuck the jewelry in it, dropped it in the mailbox and two weeks later got a check in the mail. You can also ask for a FedEx label. Both come with tracking numbers.
- Within days I got an email appraisal for $159. Accepted! Within 24 hours the money was transferred to my PayPal. CashforGoldUSA will also send payment by check or bank transfer.
Not too shabby for something that had been gathering dust the previous month. Try CashforGoldUSA now >>
Wealthysinglemommy.com founder Emma Johnson is an award-winning business journalist, activist and author. A former Associated Press reporter and MSN Money columnist, Emma has appeared on CNBC, New York Times, Wall Street Journal, NPR, TIME, The Doctors, MONEY, O, The Oprah Magazine. Winner of Parents magazine’s “Best of the Web” and a New York Observer “Most Eligible New Yorker,” her #1 bestseller, The Kickass Single Mom (Penguin), was a New York Post Must Read. A popular speaker, Emma presented at the United Nations Summit for Gender Equality. Emma's Top Single Mom Resources.