How to sell jewelry when someone dies?
At some point in your life, a loved one will pass away, and you will be responsible for selling his or her belongings. Selling the house and the furniture may be a lot of work, but selling the jewelry in comparison will be more manageable. That’s because its easy to transport, and the selling process happens instantly at the time of sale. As long as you follow the guidelines below, I assure you that you will sell your inherited jewelry for a fair price and only with only a small amount of time and effort.
Be OK emotionally with selling inherited jewelry.
Jewelry often has much sentimental value attached. First, you must decide that you are ready to part with inherited jewelry. Often looking at your mother or grandmother’s ring brings back fond memories from the past. If the idea of selling it hurts too much, you should not sell unless you genuinely need the money.
Don’t feel guilty about selling the jewelry. Remember that your loved one would almost certainly have wanted you to sell the jewelry and use the proceeds on whatever you may need. Knowing that you sold these items to help with living expenses, college funds for children or even a nice family vacation will help you feel better.
Sometimes it’s best to wait a few months or even years until the emotional pain from the loss has reduced, and you can think more clearly. You may not feel right about selling your loved one’s jewelry right after they pass away. However, a year later, it may feel OK to do so. Once the time feels right to sell, move to the next step.
Make Decisions About What inherited Jewelry to Sell.
If you have inherited several jewelry pieces, you may decide to keep one or several items and sell the rest. Perhaps one ring, in particular, has a considerable amount of sentimental value attached. Choose to wear that ring and sell the rest of the collection. This way, you’ll be able to honor her memory and look at the ring every day. A jeweler can size it up or down to fit you just right.
You also may wish to discuss with other family members to see if anyone else wants to keep an item before selling. Or perhaps you would like to gift some of the pieces to your children or other family members.
It is perfectly OK to sell all the items if you decide you don’t need them. The next step will require a little bit of work, but it won’t be that hard again if you do it right.
Decide the best way to Sell Inherited Jewelry.
Sell online yourself. (Ebay, Etsy, Facebook, Offer-Up, Letgo)
If you are computer savvy and have the time, you can always try to sell the jewelry yourself online. Sites such as eBay, Etsy, and the Facebook marketplace will allow you to create listings that millions of buyers could see. To do this is you must give exact details about the items. I would advise getting an appraisal prepared from a professional to post the details on your listing. You must also be careful about fraudulent buyers, scams, or dangerous in-person meetings with valuable items. It is also time-consuming and won’t necessarily result in your item selling.
Sell with online market places and auction houses.
Online auction sites and reselling platforms are usually willing to take your items and do all the listing and selling work on your behalf. Some examples are Worthy and The Real Real (mostly geared toward higher-end designer pieces), and auction houses like Sotheby’s or Christie’s (again geared toward only very costly items).
The problem is most inherited jewelry won’t qualify for these platforms. Another issue is you must send away your pieces, and often wait for weeks or months for auctions or sales to occur. These companies will also take a commission that will cut into the amount of cash you earn on your transaction. You may not be comfortable not knowing how much each item will sell for, and you may end up disappointed with the result. But if you have an extraordinary piece, it could be worthwhile to go this route.
Sell to Pawnshop, Jewelry store, “cash for gold” buyer.
This option might be the quickest way to get some money in hand, but its indeed the worst choice if you want to maximize your earnings. I have nothing against pawnshops or jewelry stores. However, due to major overhead expenses, these buyers need to pay much less for estate jewelry. And they may not recognize the value of better items such as top designer pieces from Tiffany & Co. or Cartier, or antique platinum jewelry from the 1920s, for instance.
Sell to an Estate Jewelry Buyer
Alas, we come to the last and best option: Selling your inherited jewelry to an estate jewelry buyer. An estate jewelry buyer specializes in buying estate jewelry and already has a network of buyers in place. Therefore he or she will be able to pay you the highest prices. He or she is also more likely to recognize added value items such as designer signed pieces, rare antique treasures, and top-quality diamonds. You will likely choose a local estate jewelry buyer so you can make the sale face to face. This way, you can decide which pieces to sell after hearing each offer.
It is also a good idea to go to at least two buyers before making the sale. Don’t tell the second buyer any prices from the first buyer. You can compare piece by piece, or add up the total and sell to the higher offer on the total.
If one buyer offers very well on one piece and not as well on others, you can split the sale up between both buyers. Although this will take a bit more time and effort, ultimately you will make the most money on your loved one’s jewelry. And you can feel good knowing that you did your homework first before selling. If you plan correctly, you should be able to sell all of the jewelry on the same day.
Be sure to read reviews for each estate jeweler buyer that you are considering. Also, check their rating with the better business bureau. Call and ask any questions about their selling process, and make sure you feel entirely comfortable dealing with them before planning a visit.
Please feel free to call or text me directly with any questions about selling your inherited jewelry or visit my website for more details. I look forward to working with you soon!
Owner Cook County Buyers