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Ask Your Goldsmith:
Jewellery on Consignment - Part 2

"Hello,

I enjoyed reading your article about selling jewellery. I was wondering what the best avenue was.

I know you indicated you do not buy or sell customers jewellery, but do you do any consignment sales (assuming that is different)?

I have a beautiful men's and women's wedding ring set in diamonds and blue sapphires. There are 3 pieces, lady's engagement ring and a matching wedding band/closet? (not a complete band, it snaps in placeover the engagement ring). The man's band matches with 3 stones (one being a sapphire the other 2 diamonds) in 14 kt gold. The man's ring and wedding band was never used. The engagement ring was worn only for family gatherings. I have had an appraisal done on them (for insurance). That was about 3 to 4 years, but that should not vary it too much (?). If you do not do consignment agreements, do you know someone that you would recommend.

Stephen


Hi Stephen,

Thank you for your email!

You understood right - I do not buy customers jewellery!

You would have to find a store that takes in jewellery on consignment! They appraise it themselves again and take a percentage when sold and give you the rest! Or they take most and give you a percentage.

That's what you have to find out first! What their % cut is. Stay with the larger name stores in the shopping malls! They have the traffic and are set to stay for a while. Do not leave it with fly "by day and night FLEA market" places!

Good luck and I hope you follow my good intended advice!

Your personal goldsmith to be (I hope!)
Hartmut Reinsch
Goldsmith of West york Jewellers
Toronto / CANADA
416 781-3998


For more information, please read my other articles about Buying and Selling Jewellery, About Old Gold and Taking Care of Your Jewellery.


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


Sincerely,

Hartmut Reinsch
President
West York Jewellers
January 2003