With more and more people selling jewelry online, it’s worth taking a look at what they do with the money...
Most people who choose to sell their jewelry or diamond ring do it because they need the money. The cash that they get will be spent to cover a mortgage payment, credit card debt, or another urgent financial obligation. Selling personal jewelry is often a last resort and can cause some emotional pain.
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When people sell their rings or jewelry collection to get through a rough period, they’ll often set aside some of the money for a treat. This is a great strategy for boosting your mood and rewarding yourself for making a sacrifice.
If you’re selling jewelry that you inherited, or moving on after a divorce, the money might be a pure bonus. When you suddenly have extra cash to play with there’s a temptation to go a little wild. You might know that it’s more sensible to save, but you’ll want to spoil yourself…
Selling Jewelry to Buy Jewelry
Possibly the most surprising story that we heard was Emma from San Diego who sold a collection of jewelry that she’d been building up from childhood. The jewelry included some inherited necklaces and her wedding band from her first marriage.
“In fact I kept a couple of small items that had sentimental value, but I sold everything else. There was loads of stuff that I’d bought in my 20s and 30s which just did nothing for me anymore. My tastes have changed big time and I wasn’t wearing the jewelry any more.”
As soon as she’d sold off her jewelry Emma started buying new pieces.
“When I first really started buying jewelry the internet was still new and there wasn’t the range of choices that we have now. I bought a pearl necklace from Japan and created a beautiful ring with fancy diamonds. Money goes a lot further buying jewelry online and there’s so much more creativity. I’d love to open my own online jewelry store one day!”.
Selling Art Deco Jewelry Paid for a Trip to Ireland
Megan had wanted to make a heritage trip to Ireland for years. When she inherited a small collection of art deco jewelry she sold the lot to pay for the trip.
“I really wanted to visit Ireland and see the small market town where my mother was born. The rings and the other bits and pieces paid for the flight and some of my holiday expenses. It was a great trip and I realised that you have to take every opportunity to really live your life.”
Art deco jewelry has always had a small core of serious collectors but it recently became more fashionable. A lot of younger people who are looking for individualistic designs are discovering a passion for vintage art deco. Jewelry designers are catching on to the trend and launching new art deco ranges.
Sell Wedding Bands to Start a New Career
Brooke got divorced when her kids went to college. She was in a reasonable financial situation but wasn’t fulfilled in her job and suddenly had a lot of spare time on her hands. Brooke had always been interested in art and creative projects but wasn’t a painter or artist. Almost by accident she got into graphic design and signed up for an evening course.
“I sold my diamond engagement ring and wedding ring and bought a really good computer with all the programs that I needed to learn how to use. The rest of the money is going towards my tuition.”
One of the biggest pleasures - and adventures - in life is investing in yourself. New skills and good teaching aren’t always cheap and a cash injection is often necessary to get started. Selling unwanted personal assets like jewelry can be a great way to get started.
How to Sell Rings and Jewelry
If you’re planning to sell your rings or jewelry you obviously want to get the highest possible price. Unless you have specialist knowledge and professional connections, the best way to sell jewelry is though an online buyer like iValue Lab.
Online jewelry buyers generally offer the best prices (considerably more than pawnbrokers and local jewelry stores). They also provide a very convenient and completely secure service. Most sites allow for a quick online evaluation and send FedEx or UPS couriers to collect the jewelry that they want to buy. If you do sell online you can usually expect to receive your money within 24 hours.