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
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 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 Or that outdated but expensive bracelet?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 earings 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:
How do you know if Worthy's price is fair?
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.
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’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 in the mail (they also give you a tracking number to chart it online, which is great).
I was pleasantly surprised. One of the rings – 12-carat gold with a couple of small diamonds – fetched a $159 check.
Not too shabby for something that had been gathering dust the previous month.
The other ring, similar, but of indeterminate quality, was actually returned.
At first, I was disappointed, but the rejection actually made me trust the company even more.
They were being honest: Nothing personal, the return implied, but your crappy ring is dead to us.
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.