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Ask Your Goldsmith:
Buying and Selling Jewellery

All jewelry has really two values! The first one is a sentimental value and the other a monetary one. So before you or your children sell your family jewellery or give it away, check it out with an appraiser or your trusted Goldsmith.

We at "West York Jewellers" do not buy or sell customers' jewelry. We wish to give our customers merely advice, on how to go about selling it and what things to watch out for! Many good jewellery items have being given away to second hand stores and antique stores, pawnshops, church bazaars or in garage sales.

Get all the items identified and evaluated, either by a qualified appraiser or by your personal Goldsmith!

There is a big difference between a Goldsmith and a jewelry store owner or staff! A Goldsmith (as a tradesperson) would in most cases, be able to do the same work and has the knowledge about the item . The Goldsmith would therefore have a very good idea of a replacement value of the item in question. Where at the jewellery store, the staff or the owner have only, in most cases, an idea of buying and selling - and the difference being their profit!

To sell a jewelry item to any store is little better than at a church bazaar or a garage sale! And that's putting it politely!

To sell your jewellery, it would be best for you to do it privately, after you get an updated written appraisal in your hands. It would bring you the most money. Do not advertise it with your phone number or address, for safety reasons! Tell your friends and colleagues about the item for sale, or leave it with a reputable jeweller on a consignment basis, selling it as "estate jewelry ." (You should be able to pick up your jewellery again at any open store time, if you wish to do so) The item is, and will remain, your property until you come to an agreement with the money you'll receive for it and you get paid in full. Get that part in writing! The store owners and staff should be able to tell you what percentage, after the sale of the jewelry item, they will withhold.

For a straight sale, if you are in need of some cash or you just want to get rid of the jewellery for your own reason, never ask the buyer (the owner of the store) what it is worth. Instead, ask them (if they are in the jewelry trade) how much they would charge you to have a similar item made. If you find out that part from a few stores you'll get a good idea of the value.

Then ask some others about trading the item in on a similar priced item with similar gold weight. That question alone will give you a little inside view of the storekeeper's integrity, honesty and their values to keep you happy and honor you as their customer.

All in all, it will be a human experience of the good, the bad and the ugly!

Hopefully I have helped some innocent people out before they become the victims of life in the big city and have sold their parents' or grandparents' fine gold jewellery for a song! As I said at the beginning - check your jewelry out first with a goldsmith or an appraiser, before you give it away!

When buying Jewellery!

People who consider the price only,
are at the mercy of merchants,
who do not understand the quality of materials
nor workmanship of the items themselves
and therefore these price conscious buyers
become his prey.

Written by Hartmut Reinsch
Goldsmith & Poet
© 1995 Toronto


After my article above, with some good advice, I would like to add that selling jewelry can even be more tricky than buying it, because you will be at the mercy of the buyers! In some cases they have no conscience or any moral values or humility. Because money and profit rule the world... and he who has the most money and gold makes all the rules!

If you do not need to sell your jewellery then don't! Period. You can always have new jewelry made out of scrap and broken gold pieces.



For more information,
please read my other articles about

#1 Buying and Selling Jewellery

#2 About Old Gold

#3 Have Your Old Gold Reworked Into New Hand Made Jewellery!



Have a Question? Get the Answer! info@westyorkjewellers.com


Sincerely,

Hartmut Reinsch
President
West York Jewellers
November 2011