If you've got much jewelry lying about, you might have considered selling it. If it's time to let go of the precious jewelry, you want to make a significant profit from it. But, before you break open the jewelry box, you want to think about the right time to sell jewelry.
Demand for buying jewelry fluctuates throughout the year. You want to know when to sell jewelry to maximize your earnings.
Unfortunately, there's never one set date as to when you should sell jewelry. It all depends on the type of jewelry, the demand for the material, and the fashion trends.
This guide will help you determine when's the best time for you to sell your jewelry.
Sell Jewelry Around The Holidays
The holidays are always the best time for any jeweler, which shouldn't be any different for you. Let's start with Valentine's Day. On February 14th, a man will look around for a beautiful piece of jewelry for the special woman in his life.
For most couples, a pair of earrings, necklace, or bracelet is what's most in-demand. For men who wish to propose, this is the time to look for a ring. However, unless you have a brand new ring that was never worn, this is not the preferred choice. It's much safer to focus on selling earrings, necklaces, or bracelets.
Gold and silver are equally popular around this time. What matters most is if you have diamond jewelry. This is the best time to sell any jewelry that has diamonds.
The winter holidays are another great time for selling jewelry. Once again, earrings, necklaces, and bracelets are what's best for this time of year. Diamonds are once again in-demand during this time; however, you don't have to depend on diamond jewelry for making sales.
When To Sell Gold Jewelry
You likely have a great collection of gold jewelry. So when is the best time to sell jewelry made of gold?
You have to first look at the demand for gold in general. For much of 2020, the price of gold has fluctuated between $1,000 to $2,000. During times of financial crisis (such as much of 2020), gold bullion is often seen as a safe investment. Gold bullion has always been seen as a hedge against fiat currency.
But you don't need to have gold bullion to profit off the demand for this precious metal. Gold jewelry also works at any time that gold is in-demand.
Other than that, your gold jewelry is valued by different metrics. For example, is your jewelry made of pure gold or entirely gold-plated? If it's the latter, you can't expect to make massive profits. If your jewelry is made of pure gold, you want to make sure you don't miss out on a great selling opportunity.
The higher the purity of your gold jewelry, the higher your resale value can be. It's best to bring it for an appraisal before selling. If you have gold jewelry with a high resale value, you might want to wait around the engagement season to sell it. Graduation dates and other holidays such as Mother's Day or Father's Day are great occasions to sell gold jewelry.
When To Sell Silver Jewelry
Like gold, silver is another precious metal that's always in demand. However, it's during times of financial crisis when you can most expect interest in silver. As with gold, silver jewelry is an alternative if you don't have silver bullion.
As silver usually doesn't have as high a price as gold, you want to focus on selling silver jewelry with higher purity levels. As with gold jewelry, make sure to take it for an appraisal to determine its resale value.
As with gold, silver jewelry works excellent for engagement season. It works great as a gift for graduations, Mother's Day, Holy Communions, Baptisms, etc.
When To Sell Diamond Jewelry
Among your jewelry collection, you are likely to have a few pieces that contain diamonds. These are the ones you are probably most eager to sell and are hoping to make huge returns.
While diamonds are always in vogue, you want to make sure you sell at the right time for the best results. You also have to be extra careful to make sure you don't get ripped off.
One problem with diamonds is that they lose their resale value once you buy them. You can expect to earn significantly less than what you paid for your diamond jewelry. But that doesn't mean that you can't find a good deal.
In the USA, Valentine's Day, Christmas Day, and Mother's Day are the most popular times to sell diamond jewelry. If you want to sell directly to someone else, you want to wait for this time.
However, jewelry shops and diamond buyers are always looking to buy diamond jewelry whenever possible. The tricky part about selling to these entities is to make sure you get the best deal.
You should focus on a diamond (and other jewelry) buyer who will give you an appraisal for your diamond jewelry. They will understand what your diamonds are worth and will provide you with a reasonable offer for them.
When selling to a professional diamond buyer, you want to have a basic understanding of what your diamonds are worth. Make sure you understand how diamond prices are calculated when you take them for an appraisal.
Finally, you want to keep an eye on fashion trends to know what to sell. For example, if you have heart-shaped jewelry, see if this is in-demand from others. If you own lockets, you don't want to sell them until you see lockets in fashion again.
While you might want to sell jewelry, you own as fast as possible, be patient so that you can earn maximum profits. In recent years, oversized watches have become fashionable. Conversely, hoop earrings seem to be a thing of the past.
Always keep an eye on what's popular so you can sell at the right moment.
Let's Help You Sell Jewelry
Now that you know the best time to sell jewelry, you can gather your collection and decide when to sell. Make sure to share this guide with anyone else interested in selling jewelry.
We'd love to have a look at your jewelry. We offer appraisals and are always on the lookout to buy. Reach out to us today!