If you need some quick cash, you may be considering either selling your jewelry or getting a loan against its value. Since many pieces of your jewelry have both emotional as well as financial value, you do not want to be careless. Before you take this step, you need to have some idea what your jewelry is worth.
You need to have your jewelry appraised by a knowledgeable jeweler to find out its replacement value. That figure will be partially based on current gold and gem prices, but it will also depend on what discount jewelers are charging for like items. The marketplace has huge variations in its pricing system, with some high-end stores charging much more than bulk stores for items of comparable value. You may have paid thousands for your item, but if it can be purchased for $500, that number will be its market value.
Once you know approximately what your item is worth, you need to find out your market options. You may be able to find a buyer at a jewelry store, pawn shop, or online. Experts recommend that you be realistic. If you want to sell your items quickly, you will probably get less money. If you are willing to do the research and marketing yourself, you might get more money, but the process will take longer. Remember that anyone buying your used jewelry is doing so to save money, so you will never get the kind of price that a retail store will.
If you need money but hate to actually sell your jewelry, you can get a loan from a pawn shop or some jewelry stores against the value of your items. Of course, the amount of money for a loan is less than for a sale, but you can still get approximately 40% to 60% of your item's value. This process also allows you reclaim your item later by paying off the loan.
If a money crunch has you pondering whether you should sell your jewelry, just be certain to do your research first. You need to know what the market value of your items are so you can price them in a reasonable manner. You will be able to get a better price if you can wait for a good buyer, but if you need cash fast, you will have to take less. Educate yourself and then consult with a few jewelers before you decide what to do. To learn more, visit a website like http://solsjewelryandloan.net/.