What to do With Old Jewelry?
What's inside your jewelry box? A divorced diamond engagement ring? Gold jewelry, such as a tarnished high school necklace or chain? You never wear silver jewelry. Unworn emotional vintage or antique jewelry? A tennis bracelet or stud earrings made of diamonds, which, to be honest, were never your style?
The good news is that you have various high-quality choices for your old jewelry, including selling it to a reliable buyer for quick cash.
For anything worth $1,000 or more, we advise using the internet marketplace Worthy.com, and for any other gold and silver jewelry, CashforGoldUSA.com. I'll explain why later.
Here are some strategies for getting rid of outdated jewelry:
1. Sell them
The website Worthy.com, which has an A+ Better Business Bureau rating, insures your item up to $100,000 and will provide you with an instant estimate using its interactive tool; it is our top recommendation for selling your diamond jewelry, high-end jewelry, or a luxury watch. If your jewelry is valued at least $1,000, worthy is preferable.
2. Recycle
Your fine jewelry is eventually recycled by gold and silver purchasers, who melt it down into bars, bullion, and coins that may then be used to make new pieces of jewelry, electronic components, or other things. This benefits the environment since the mining and processing metals and gemstones are very harmful to the environment.
3. Pawn jewelry
Although it can be preferable to sell your jewelry online, you could think about giving it to a local pawn shop. Online gold buyers could provide better prices and be simpler to deal with. What you should know about jewelry pawning is as follows:
How much do you earn for pawning jewelry?
You will earn 25% to 60% of the retail value of your jewelry from the pawnbroker, as with other items sold to pawn shops. This can be tempting if you really need the money right now, but there are alternative methods to sell your jewelry, which is probably one of the most precious items you possess, and earn a far better return.
In addition to buying damaged jewelry, CashforGoldUSA also buys diamond rings, necklaces, bracelets, earrings, and other jewelry pieces. They pay within 24 hours of receiving the item.
Pawn jewelry or sell it?
You might pawn your valuables for fast cash. However, giving the procedure a few more days and a little more time, you'll probably get more money for your jewelry when selling it to an online gold buyer.
4. Consign it
You may sell your estate and vintage jewelry to jewelry stores and antique stores for a set price or on consignment.
Usually, consignment stores will accept an item for consignment and, if and when the item sells, will give the original seller a portion of the selling price.
Consigning your jewelry will probably take longer than pawning, direct sales, or internet sales, and in most cases, the seller won't get more money.
5. Auction it
Online jewelry auctions are far more accessible than you would expect. However, major auction houses, like Sotheby's and Christie's, cater solely to the rich wishing to purchase and sell things for hundreds of thousands or even millions of dollars. Some websites, such as Worthy.com, will accept and list jewelry items with a minimum worth of $1,000, including many engagement rings and other jewelry pieces.
6. Repurpose or upcycle
Consider turning the stones from an old diamond engagement ring into a necklace, pair of earrings, or other accessories. The old gold or platinum setting may then be sold for scrap or melted down to make room for the new one.
Repurposing diamond engagement rings
People often figure out uses for the stone and even the metals in an abandoned engagement ring. This may consist of:
- Following a divorce, the diamond is converted from the engagement ring into a necklace, pair of earrings, a new ring, or other jewelry pieces for the owner or her kids.
- Transforming the metal and stone of an inherited engagement ring into jewelry for the previous owner's kin.
- Giving an engagement ring to a newlywed couple who will wear it in their new or existing setting
In my opinion, reusing an engagement ring from a divorce is very unlucky. Diamonds are not difficult to locate. Sell your engagement ring and use the proceeds to get a lovely, brand-new one without the associated negative memories if you desire an excellent piece of diamond jewelry for yourself, your children, or your future spouse.
Repurposing old or broken jewelry
There are numerous inventive methods to reuse old or broken jewelry, like melting it down to create a new piece, including a gem or diamond in a cluster of new stones, or taking a sentimental or historical piece of jewelry and repurposing the components into something to your liking.
Upcycling old jewelry
Many jewelers will gladly accept your diamond, gemstone, gold, and other jewelry in exchange for credit that may be used to upgrade your old jewelry into something bigger, more contemporary, or more in line with your tastes and style.
You may also decide to upgrade (upcycle) to newer, better jewelry by selling your old pieces.
Remember that despite your new look, the diamond will still make you think of your ex or another close relative with whom you may have had a difficult connection—just a thought.
7. Give it away
Give away your old, useless jewelry if you want to declutter your jewelry box or utilize it in another manner.
- To a family member who was acquainted with the person from whom you acquired your pearls or to another close relative who could appreciate its vintage.
- Your children may desire your previous engagement ring, but not likely. Could they react more favorably to some of your ex's other jewelry?
8. Donate
There are various locations you may donate outdated jewelry if you want to get rid of it to clean it out swiftly or if you want to give it to charity.
- to a fundraising auction
- to a charity shop
- NGOs like Support Our Troops, I Have Wings Breast Cancer Foundation and Dress for Success
- Post it without cost on Facebook Marketplace or Craigslist.
9. Exchange your old jewelry in on a new piece
Most jewelry shops let you exchange your old jewelry for a more expensive one. Just the price difference between the two will need to be paid.
To tempt you to buy something new, many businesses will give you a more excellent trade-in value than cash worth (much as auto dealerships lure you with a high trade-in value, so you'll buy a new vehicle from their lot).
FAQs
What can I do with cheap old jewelry?
You may sell your jewelry to a jeweler, gold or silver buyer, or pawnshop if it is made of precious metals or gemstones. High-end costume jewelry sometimes sells for a profit on eBay or at a nearby consignment or antique store.
However, if the value of your costume jewelry is low, you may give it to a charity event or auction. Additionally, you may provide it for free or at a discounted price to a friend or acquaintance, advertise it on Craigslist or Facebook Marketplace, or let a youngster in your life play dress-up with it.
How should old costume jewelry be disposed of?
Selling your jewelry to a company like CashforGoldUSA, which collaborates with a refinery to smelt it into bars, bullion, and coins can be used to make new jewelry, electrical components, or other products, is an option if it includes any gold or sterling silver beads or a clasp.
You may give your jewelry to a charity or thrift store if it is in excellent condition and doesn't include any precious metals.
Can you get money for old jewelry?
There are many ways to sell your used jewelry for cash. Estate jewelry may be sold to pawnbrokers, consignment stores, antique buyers, and internet retailers like Etsy. Alternatively, you might offer your used gold, silver, or gemstone jewelry to an online gold or jewelry buyer.
CashforGoldUSA, which our analysis revealed to pay the highest of its rivals for jewelry, is where you can sell your gold, silver, platinum, gemstone, and diamond jewelry.
How to know old jewelry is valuable?
Get your diamond or jewelry appraised to learn what you have and how much it is worth. You may determine how much gold you possess by visiting your neighborhood jeweler or using this online gold calculator from CashforGoldUSA.