Three things to know before selling jewelry at online auctions

Selling jewelry at a brick and mortar store can sometimes be a frustrating experience. This is why online jewelry auctions are growing in popularity amongst sellers of fine jewelry. In an earlier post, we covered the basics of Selling in Jewelry Auctions Online, to help potential sellers learn how to sell jewelry auctions. Today we’re going to give you essential tips and tricks that make selling easier for you and give you the skills required to sell better.

Appraisal value versus market price

Before you put an item up for a sale, it is standard procedure to get an appraisal conducted. While the appraisal value is an indicator of what your jewelry is worth, don’t assume that this is the price your jewelry will sell for. Market factors affect the price your piece will go for (and it could even be as low as one-third of the appraisal value).

That being said, appraisals are still important in determining the value of your piece. It helps prevent buyers from taking undue advantage. More significantly, it is necessary for insurance purposes.

Sell with small auction houses

A large auction house may seem like the best bet to you, but most big auction houses don’t take pieces under a certain price. So if you’re looking to sell jewelry that is not worth a lot, selling with a small auction house is a good idea. Plus a small auction house such as London Gallery Auctions they may provide better fees and commission values.

That being said, it is important to sell with an auction house you trust and can rely on.

Trends matter

In 2011, diamond jewelry became sought after in China and India, and prices went up by 19% and all of a sudden you could sell diamonds at greater profits. Now that cocktail rings are in fashion; you can be confident about selling yours at a good price.

Keeping up with the market trends is an integral element to selling your jewelry at auctions. Your piece could be worth a lot, but if there are no buyers, you won’t sell regardless of value. Unless you need the cash urgently, you should wait to see if trends change and the jewelry you are selling comes back into fashion. This way you are likely to obtain a better price for your item than you would have when it was out of style.

When getting your jewelry appraised, you could ask the appraiser how much it might be worth in specific markets (again this won’t be the same as appraisal value). Be sure to check out how much pieces similar to yours are selling for.

Once you start selling jewelry at online auctions, you are bound to get a hang of it, and things will get easier over time. Whether you want to turn this into a full-fledged interest or just want to get some cash flowing, online auctions are a fun, hassle free way to sell jewelry.