How to Sell Silver Jewellery for Cash
If you’re considering selling silver jewellery then one quick and easy way to understand how to get the best price for your silver is to read this comprehensive guide and then make an educated, informed choice as to how you want to undertake the sales process.
SILVER JEWELLERY – PURITY
The purity of silver is graded simply by what percentage of silver your items contain, and this information will be displayed by the hallmark.
As an example, fine silver, which is 99.9% pure will have ‘999’ stamped on the hallmark and is much too soft to be used for jewellery but sterling silver, from which the majority of silver jewellery is made, is 92.5% silver and 7.5% copper and will have ‘925’ stamped on it.
CURRENT SILVER PRICE
As at February 2013, the silver price for ‘999’ is approximately £0.61 / €0.71 per gram and for ‘925’ is about £0.56 / €0.66 per gram but as with any transaction, it’s worth shopping around to find the best prices for your silver jewellery.
WHY DO YOU WANT TO SELL SILVER JEWELLERY?
- Selling sterling silver jewellery is a fast, simple way to raise money
- Buyers will usually look at the weight of the silver rather than each individual item and your valuation will usually be determined on that basis
- Silver jewellery comes in and out of fashion and you may be looking to trade your silver jewellery for more up-to-date pieces
- There has been a huge influx of online and High Street traders who will give you instant quotes and cash for your silver but be careful as often you will be offered slightly lower prices for quick sales
- If you have inherited silver jewellery, it’s likely you may be in possession of rare or antique pieces and they have the potential to be worth much more as individual items than just the weight of the metal.
HOW TO SELL SILVER JEWELLERY
Before you sell anything to anyone, make sure you have done your research, understand what you have and make sure you know roughly what you expect your collection to fetch.
Prices will differ for items such as silver rings, silver necklaces, silver earrings, silver brooches and silver bracelets dependent on age, quality and style.
If you are unsure, speak to an independent jeweller and ask them to value your pieces for you. When the buying process starts, you will have all the information you need – and documented proof if necessary – to verify what you are selling.
If you want to sell your silver jewellery online, take clear, highly magnified pictures that show up every detail.
Selling Silver Jewellery at Auction
- Selling jewellery at auction is unpredictable but it’s also very popular amongst people who have high value items or collections to sell.
- Auctions can be a good way of assessing the market value of an item. However, when bidding gets frenzied or competitive, it can mean an item sells for a higher price than its usual market value.
- If you decide an auction is the right way to sell your jewellery, make sure you choose an auction house that either specialises or has experience in what you’re selling. An empty auction room or one with buyers who aren’t looking for what you’ve got can mean a low sale price or no sale at all.
Selling Silver Jewellery on the Internet
The online marketplace is rapidly becoming the sales route of choice for people who want quick sales and good deals.
- Honest, reliable and secure websites like 62days.com offer you the opportunity to sell silver jewellery for quick cash and they will give you 62 days to buy it back for exactly the same price you sold it for, and not one penny more.
- The service is free, including collection and return if necessary and you have peace of mind knowing you are backed by TRUSTe, the internet’s leading online privacy provider.
- All you need to do is upload a photo of your jewellery and we’ll send you a free, no obligation quote.
- We only use secure payment methods such as PayPal, Google Checkout, Neteller, Moneybookers or we can pay straight into your account.
- Your items are collected and delivered by FedEx and are fully insured while in transit between you and us.
When you’re reading up on the different ways to sell your silver jewellery online, remember that peer-to-peer sites can sometimes make you feel like you’re playing ‘sell silver jewellery’ poker and come with a certain level of risk attached so be careful of issues surrounding payments, security, communication and delivery.
Other Ways to Sell Silver Jewellery
Pawnbrokers – Pawning isn’t selling in the true sense of the word but it works in essentially the same way. You are offered a loan secured by your jewellery for a set amount of time. If you want your items back, you need to pay back the amount you borrowed, plus a high rate of interest but if you just want to keep the money, the items become property of the pawnbroker on the expiration of the term of the loan.
Antique Dealers – Do you have antique silver jewellery? When does it become an antique? Is it rare? They will be able to answer these questions for you and may even make you an offer to buy what you have, but any sale is dependent on quality and saleability. Selling silver jewellery to an antique dealer can often mean higher prices, but can also mean higher fees so make sure you know your liability before entering into a contract.
WHAT TO DO NOW
If you’ve decided how you’d like to proceed, you can commence the process.
If you’d like to see how much you could get for your silver jewellery instantly with an expert quotation from 62days, simply upload your item now for a quick online offer.