Important Things to Keep in Mind When Selling Jewelry in Hard Times

In hard times, a diamond, ruby, pearl or gold ring can still be your best friend.  The gloom and doom of a bad economy has actually pushed gold prices to new heights, promising better deals for those who wish to turn their gold jewelry to cash. 

When tough times call, these may just be the best time to sell jewelry.  Historically, precious metals – specifically gold – have been considered a refuge by many investors.  This probably explains in part why people who sell jewelry during hard times can still find a good price for them. 

Prudence is key
When you buy good quality jewelry, you're also buying into an investment.  That is why when finances are hit hard, they can be a good source of money for emergencies or cash-strapped situations. 

When selling jewelry during a bad economy or even during good times, it's important to remember that it's not the same as selling, say, a basket of fruits.  Every jewelry sale has to have the following factors:

A reputable buyer
A huge part of the success of every jewelry selling transaction lies on the reputation and experience of the buyer.  It's important to remember that when selling jewelry, it's always a safe choice to negotiate with a licensed and experienced jeweler or appraiser. That is what Brokengold.com prides itself on.

A negotiation
Selling jewelry requires some sort of negotiation.  Do not treat the price quoted upon assessment as final.  To ensure that you have a fair hand in the negotiations, educate yourself regarding your jewelry.  You'll be more likely to walk away with a fair price.

Option for selling back to the owner
It's a good idea to ask if the buyer offers you a buy-back option.  That way you will be able to retrieve jewelry that you love or have a sentimental attachment to.

Comparison selling
If you perform comparison shopping for items of lesser value, then you should consider comparing prices among buyers of jewelry.  If hard times have forced you to consider selling your jewelry, the best thing you can do is to have your precious metals and stones assessed by at least three reputable buyers.  Only when you find a good price should you consider selling.

Gold was first discovered thousands of years ago in its natural state, in streams, which lead to mining all over the world. Its brilliance, natural beauty, great malleability and resistance to tarnish made it enjoyable to work with. Gold gave rise to the concept of money itself. Today gold is used for jewelry fabrication, industrial application, and medical uses, by governments and central banks and by private investors.