Consignment is HOT right now and that’s why I want to introduce our blog with it. People are looking for all kinds of jewelry, from Vintage, to 90’s Marquise Cuts, or your traditional diamond solitaire’s at a low price. The budget conscious whom doesn’t mind “previously loved” jewelry can save as much as thousands and the vintage jewelry style seeker has a great way to secure one vis-à-vis Consignment.
If you have been sitting on jewels that you don’t necessarily want to cashout for cheap and have time to hold out for more money, then Consignment might be a way to go.
Benefits of having a jeweler consign your jewelry are: The buyer gets an appraisal from a graduate gemologist; Your jewels are instantly covered by your jeweler’s insurance while in-store; Your precious pieces are refurbished like new then merchandised to people who are looking to buy jewelry; And if you go local, not only are you putting money back into your hometown but you can always stop by to pick up or simply check on your jewels, all at no cost to you. (Costs are dependent and specific to each jeweler’s policy.)
Also, a jeweler is likely to be honest with you because she won’t want a jewelry piece sitting in her store that will not sell. This is because each piece of jewelry in a case costs money in insurance and opportunity cost.
Here is how Consignment works - there is no consignment charge to you until the item is sold and until it is sold the item is still legally yours. At the time of sale a fee or consignment % is subtracted from your check. That’s it! With that said, once you leave your jewelry in the store be ready to part with it because once it’s sold there is no backing out. This is why it’s so important to have a consigned price ready that you're willing to accept before it sells because you can’t negotiate once it’s sold.
Now, you might not even know what you want to sell it for. All you know is that you want the best possible price for it. Here’s one way that we price out a piece. First, as horrible as it sounds, consider what is scrap value? What is the metal and what is the weight value? Next we would check the quality and weight of the stones. After that, we look at the style and durability of the over all jewelry. Is it marketable? Is it trendy, traditional, unique, dated, and what’s currently selling? Finally, if it's an antique, does it have antiquity value, or is it in salable condition? We recommend a reputable, local independent jeweler to answer these questions for you. Then after all this, still keep in mind that something is only worth what someone else is willing to pay for it. Also, the less you ask for your consignment the faster it sells. Ultimately, that number is up to you and there is no magic formula or crystal ball!
To see our “previously loved” jewels we have on consignment please visit here: https://thediamondaire.com/collections/estate
Some Alternatives besides consignment:
Scrap it = Money for the metal weight (varies based on metal prices)
Cash-out now = we make you a cash price offer today and you can accept reject or counter
Use it as In-store Cash = Double the scrap price as in-store bucks to buy from the case, from our website, or custom design something new.
Reuse/Remount = Remake your gems into something new