Selling jewelry can bring in extra money during hard economic times

Today with the challenging economy, more and more jewelers are seeing people selling jewelry. Many people are doing this to pay for necessary expenses like groceries, utilities, rent or bills. There are all types of people selling their jewelry, from single mothers to school teachers with reduced pay.

Many times, a lot of extra money can be found in selling jewelry. Today there are numerous places to sell and more are opening up every day. There is someone everywhere offering to buy jewelry. Jewelry stores and traditional pawn shops are seeing an increase in demand for buying jewelry. There are even some smaller businesses seeing more, including barbershops and bars. These places are starting to buy jewelry to bring in more profit during hard times.

Right now, while gold prices are high, you can typically get 20 percent of what was initially paid for a piece of jewelry. Most times, selling a whole piece of jewelry is better than selling scrap or broken pieces. When jewelry is bought from a jeweler, it is typically melted down. You will get more for jewelry if you sell right to a refinery and not to a jeweler. A refiner will most times offer you 75-90% of what the gold is worth at the time. This does depend on whether there are stones that have to be removed or not. If jewelry is sold to a jeweler, they take it to a refinery and the jeweler gets a cut of the profit and this is deducted from what you get out of the jewelry. You will be able o get better prices if you look into selling jewelry to a buyer online. This way, you are selling directing to a dealer who can give you better jewelry prices.

Before you starting selling jewelry, make sure you do not have loose stones in the pieces. If there are, you need to try to get it remounted before selling it; any inexpensive mount will work just fine. The buyer wants to see the piece as a whole so he can vision what it could be. Most times, simply fixing a mounting can add 10-15% to a price.

There are many places to go when selling jewelry:
1. A shop that sells estate jewelry. This is best if a piece has a lot of value.
2. Pawn shop. These shops will provide the option of a short term loan if you want to one day buy back your jewelry.
3. Consignment shop. This type of shop will sell your jewelry and give you a percentage of the profit.
4. Classifieds. You can place an ad to sell jewelry.
5. Online. MyGoldEnvelope.com is the best place for selling jewelry.