When it comes to deciding how to sell silver, there are many things to consider. For example, there are plenty of available methods, but which is the best? Which will give you the most for your silver and how can you be sure it’s safe and secure?
If you’re having trouble, look no further. Here’s your easy, indispensable guide to how to sell silver.
Before you sell silver…
What are the things you might want to consider when deciding how to sell silver?
Safety and Security Whether you plan to sell online or off, make sure you know who you’re selling to. For example, try to verify that a website is safe by looking out for trust marks such as TRUSTe, ensure that their payment methods are secure and verify that they’re within a trade association. When talking to dealers about how to sell silver, don’t invite anyone you don’t know into your home.
Fees and Interest When considering your options on how to sell silver, find out how much each option costs. It might seem strange, but selling your silver might involve fees, charges and interest. In fact, whether you sell to a dealer, via auction or even online, many places will take a chunk out of your profit.. To know where you stand and even find the places that will sell your silver for free, read websites, contracts and available literature carefully and don’t be afraid to ask questions.
Ease of Sale The hassle-factor is definitely worth considering when choosing how to sell silver. After all, you probably don’t want to spend your days sifting through jargon, travelling long distances, filling in forms or standing in a damp field. Try to find an option that works for you.
Sentimental Value What if you sell an item only to then wish you could have it back? You may be looking at ways to sell silver jewellery which has sentimental value. There are options out there that offer you a cooling off period (such as 62days.com), so you have time to change your mind.
Sale Guaranteed? While some methods guarantee that you’ll be able to earn additional income by selling your silver by a certain time, others won’t, so find an option that suits.
Speed 62 Days offers you as quick, simple and secure way to sell silver jewellery and we make the process safe, swift and easy.
The Markets It’s not just a case of how to sell silver, but when. Check out the markets to discover whether it’s a good time to sell silver to ensure you don’t miss out. After all, you want to make the most of your items.
Your Options on How to Sell Silver
Once you know you want to sell your silver, you can start looking for a method that works for you. Here are just a few you might consider:
Antique Dealers
One option for selling silver is through an antique dealer. These seasoned professionals can value your item and may be able to sell it for you.
As a plus, antique dealers know their stuff and usually offer a fair price for items, but make sure you check out the fees before you sell, as they can be on the high side.
Antique dealers can be found in various high streets and locations around the country. If you’re looking for the nearest one to you, you might search online such as via a trade association website.
Of course, to sell your silver in this way, it must be an antique…
Online
Not only is this something you can do from the comfort of your computer, but when you sell with 62days.com, it’s fast, simple and totally free.
We offer you a simple way to earn money for your silver. You even get 62 days after the sale to change your mind. Online is such a simple way of selling silver – just upload a photo of your item or describe it to us and we’ll give you a free, no-obligation appraisal.
When we say it’s totally free, we mean it. We’ll even arrange for your item to be collected by secure courier at no cost to you because your security is our top priority – from secure payment methods to protecting your privacy.
High Street Pawnbrokers
This is not technically a method of how to sell silver, but rather of using it as security
You can buy back your item at any point during this period, but you’re charged interest for every month it stays there. The rate of interest is usually very high.
What’s more, even if your item is there for even one day in a month that counts as a whole month – there is no apportioning.
On the other hand, if you’re happy to sell your item for good, you don’t need to pay anything further. At the end of the contractual period, uncollected items become property of the pawnbroker.
Auction
With a traditional auction, you put your item out for people to bid on it and the highest bidder buys it.
One way to protect yourself is to put a minimum price or ’reserve‘ on your item, which means it won’t sell if the bidding doesn’t reach that level. However, this might mean that your item doesn’t sell.
When it comes to selling silver, this is one of the more unpredictable methods. For example, it all depends on who’s at the auction. If you get people who really love your item, you could find it at the centre of a bidding war and you could get a great price. On the other hand, another day or another auction room might be empty or lacking in people after an item like yours.
Car Boot Sale
If you’re looking for a hands-on method of how to sell silver, this might be the one for you. In a car boot sale, you sell your item directly to the buyer.
You set your own price and the speed at which you sell your item is down to the quality of your sales patter.
Of course, there’s no guarantee of a sale with a car boot sale, plus you’ll probably want to accumulate a collection of items for sale to make the experience worth your while, especially as you could be there for hours!
Remember, buyers coming to a car boot sale generally look for bargains, so it’s very rare that silver sells there for its fair market value.
Things to Remember
Regardless of your chosen method of selling silver, you’re likely to get the most out of your sale by getting to know your item. Here are just a few terms to get you started:
Purity The quality of silver is measured in purity terms – i.e. the percentage of the item which is actually composed of silver. An item will usually be stamped with the purity mark: 925 meaning it is 92.5% silver, 999 meaning it is 99.9% silver etc.
Hallmark If you want to know who made your item, you might be able to identify them by the hallmark, which should tell you its maker.
How to Sell Silver – the First Step
Once you’ve made a decision as to how to sell silver, you can take your first step. If you’d like a free appraisal for your item with 62days.com, all you need to do is upload a photo of it or describe it to us. Even once you get your quote, you’re under no obligation to sell, so there’s nothing to lose.
You can even get appraisals on other items, especially if you’re looking to sell diamonds, sell gold, sell jewellery or sell art.