How to Start Selling Jewelry and Make Some Extra Cash
You have some jewelry that you’re ready to sell – perhaps it’s a necklace that no longer fits your style, or a ring that’s spent too much time in your jewelry box. Or possibly you’re an accomplished jewelry maker and you’re ready to start selling your work to more than just friends and family. No matter your story, selling jewelry can be a good little side gig that brings in some unexpected cash. But how do you go about it?
There’s no need to fret; we’ve got you taken care of! We’ve consulted with some pros in the business to get the lowdown on how to sell jewelry and turn enough profit from it to warrant doing so. Whether your preference leans toward selling online or face-to-face, these expert-approved suggestions will help you net the most notices of payment “on a bling basis,” as they say.
Getting Your Jewelry Ready for Sale
Estimating Your Jewelry’s Worth
The first step you have to take before you can even consider slapping a price on that bling is finding out what it’s really worth. The worth of your jewelry hinges on so many factors. For one, what are its materials (gold, silver, or something else; or just as important, what are its components that we can’t see if we’re not experts)? Who made the piece—and when? And to what aesthetic or to what moment in societal taste does it belong? And finally, what’s its condition?
If you have vintage items, your most reliable option is to have them seen by a certifiable appraiser who specializes in vintage jewelry. They’ll inspect your items with the kind of attention to detail that only professionals possess and inform you about their real street value. This step is truly essential and for good reason: it puts you in a good position should you decide to sell.
Cleaning and Restoring Your Jewelry
Now that you understand the true value of your jewelry, it’s time to take steps to ensure it looks as good as it possibly can. No one wants to purchase a ring, for instance, that looks like it’s seen better days. It’s important to give your jewelry a good, thorough cleaning so that it sparkles and shines like something that costs thousands and thousands of dollars should.
Should your antique jewelry be showing signs of age, think about getting it restored. A well-respected jeweler can achieve fantastic results, mending clasps, replacing lost stones, and polishing away the scratched surfaces that have dulled your piece’s shine. It’s an expense, but considering the value that such items can command, and the even greater prices that better preserved (as opposed to ‘mint condition’) items can claim, it can pay off in a big way when it’s your turn to cash in.
Collecting Essential Paperwork
When selling high-end or antique jewelry, you must remember to present the potential buyers with essential documentation. This includes any appraisal or certification you might have. Receipts are also helpful; even if what you have seems scant, it beats not having anything at all. These documents show that the jewelry is worth what you’re asking and that it’s real. If you needed documentation to sell a house or a car, why wouldn’t you need the same to sell something that could be as valuable as either?
Selling Jewelry Online vs. In-Person: Which is Best?
The choice of venue for selling jewelry—whether online or offline—largely depends on the seller’s preferences and the nature of the pieces being sold. In the present day, selling jewelry on the Internet is one of the most common and lucrative options. Numerous platforms exist, ranging from the well-known eBay and Etsy to invitation-only sites that deal in high-end jewelry. The main advantage of selling online is that your potential audience is vast and varied. With just a few clicks, you can display your pieces in front of an oh-so-humble website that attracts visitors by the thousands.
Naturally, there are some difficulties in selling online. It is crucial to take exceptional photos of your jewelry so that they attract the buyer’s attention. Also, all necessary and pertinent details must be included in the descriptions of what you’re selling. And handling shipping can be a bit of a chore. If these activities don’t sound like fun to you, or if you just don’t have the time, then selling online might not be a fit. But if you’ve got the time and desire to invest in these seemingly mundane tasks, they can serve as a pathway to reaching a wide audience with your work.
Selling Jewelry In-Person
If you’re interested in selling your jewelry in-person rather than online, there are numerous options available to you, and many of these can yield great results. One avenue to explore is selling your pieces on consignment. Many shops that sell jewelry do so on a consignment basis. If you have a good relationship with any local jewelers, ask them if they sell on consignment. If you don’t know any local jewelers, find some consignment shops that cater to your particular style of jewelry.
Selling in person has many advantages. For one, you can negotiate over price and still end up with cash in hand. Also, when selling to someone you can’t see online, there’s a level of trust-building that happens when you’re face-to-face with a potential buyer. Just be sure not to invite a stranger to your home; meet in a public place where you feel safe.
How to Price Your Jewelry for Sale
Selling your jewelry means you have to set a price for it. But how do you know what price is right? It’s not easy to determine a piece’s worth, especially when you might be emotionally attached to it. The first step is realizing that the market value of a piece and its sentimental value are not the same. The rough method of pricing by materials and labor won’t get you too far, either. You need to look at comparables – pieces like yours that have sold recently. From there, you can see where your work fits into the broader picture, and that’s when the real pricing magic happens.
Understanding Market Value of Your Jewelry
Essentially, the market value is what similar items are selling for. This is affected by all sorts of things, such as the economy, current fashion, and even the time of year (jewelry, for instance, tends to sell better around the holidays). To get a good sense of what your items might fetch, look at comparable pieces and their prices on eBay or Etsy.
Establishing an Attractive Price Point
After gaining a rough understanding of your jewelry’s market value, you’re ready to establish a selling price. You might consider aiming for a high number, but don’t fall into that trap! Pricing your jewelry too high is a great way to frighten off interested buyers and leave you with your pieces for a lot longer than you want.
Set a price that’s competitive yet still reasonable, taking into account the condition of your item, any unique qualities that might set it apart (including its provenance, if it’s something by a well-known designer), and the amount you think the market can bear, having done your homework on similar recent sales. And don’t forget to figure in the costs of the platform you’ll be selling on!
Proven Strategies for a Successful Jewelry Sales Business
Establish Your Standing as a Reliable Seller
No matter what medium you use to sell, it’s crucial to come off as a reliable seller. The first step in doing this is to be honest. If your piece has flaws or simply isn’t in perfect condition, make sure your potential customer knows this before they make a purchase. Accompany all your listings with photos that do your jewelry justice. And if you’re selling on Etsy, which I highly recommend, make customer service your number one priority. This means serving your customer with a smile (even if it’s not actual). It means being accommodating to your customer’s needs, and in my experience, it mostly means being very, very prompt.
Using Social Media to Draw In Customers
Social media can be a potent tool for reaching prospective jewelry customers, and there are a few different ways to use it effectively. First off, make sure you’re on the right platforms. For the most part, Instagram and Snapchat serve the jewelry world well. They are highly visual and allow for easily sharing the kind of items one might wish to purchase. Facebook is also a solid bet, especially when it comes to building a community around your brand. Once you’ve set up your profiles, it’s time to get to work engaging your audience.
Understanding Your Audience’s Preferences
To become an excellent jewelry seller, it is crucial to understand the audience. What is trending now? Are customers more inclined toward delicate gold chains or “in-your-face,” oversized gold rings? Follow the latest fashion magazines and blogs closely to stay atop the trending looks. Don’t shy away from asking buyers for their opinions. Do they prefer mixed metals or enclaves of color? The more you understand their preferences, the more easily you will sell to them.
Common Mistakes to Avoid When Selling Jewelry
Jewelry sellers often make the huge mistake of overpricing their jewelry. Of course, we all want to net the most we can from our sales. Yet, pricing our pieces way above market value is a surefire way to end up feeling disillusioned. If there is one thing that buyers these days don’t like, it’s feeling like they’ve been had. So price your jewelry fairly and competitively if you want to have any realistic shot at it selling.
Poor Presentation and Descriptions
Lackluster Displays and Descriptions You could possess the most miraculous adornments in the world, but if your images are indistinct and your descriptions are lackluster, potential customers will continue their virtual walkabout and might not ever come back. Good presentation involves investing time and effort in your displays and in the writing of your descriptions. Use a camera that can shoot a sharp image (a smartphone can do in a pinch), and photograph your items from a variety of well-lit angles. When penning the piece’s description, imagine you’re talking to the customer who has absolutely no prior knowledge of your work. Give them a taste of the backstory. Outline any and all special features that make your work unique. And for goodness’s sake, cover the basics: What are the dimensions? What materials are used?
Final Thoughts on Selling Jewelry
In conclusion, beginning the process will take some time, but these professional pieces of advice can put you on the path to illuminating your way as a jewelry-selling superstar. Remember that whether you’re hawking a vintage family heirloom or a bangle you picked up in some trendy, far-flung location, the essence of this operation is doing your research, artfully displaying your wares, and pricing them in a way that commands respect from potential buyers but doesn’t quite make it more affordable to rob Fort Knox. And remember, this isn’t a death-oriented enterprise, so have fun with it!