Do you have a bunch of jewelry just lying around collecting dust? If there are pieces you do not want to wear anymore, why not turn them into cash?
In general, when you sell pre-owned jewelry, you can expect the resale value to be around 10% to 50% of the original purchase price, depending on the type and quality of the jewelry.
This article covers the 10 best places to sell your jewelry in Canada, whether you wish to do it online or in person.
Best Places to Sell Jewelry Online
| Platform | Method of Selling | How It Works |
| eBay | Online | Create a fixed-priced listing or auction out your jewelry for potential customers to see. Get your jewelry appraised beforehand to make pricing them easy. |
| Kijiji | Online | Create a free account, post listings with images, set prices, and post your ad for free. Meet up with interested buyers to complete transactions in person. |
| Etsy | Online | Set up a free Etsy shop and list your jewelry as products. The platform deducts a 6.5% transaction fee. |
| Facebook Marketplace | Online | List your jewelry online and wait for potential buyers to interact with your post. You may set a fixed price or wait for buyers to bid their price. |
| Local Jeweler | Offline | Visit a local jeweler, choose to sell directly or consign, and receive immediate payment upon agreeing on a price. |
| Auctions | Offline | Sell jewelry at nearby auction houses. If the pre-sale prices sound good to you, consign your jewelry. The auction house will take a small commission fee from your earnings. |
| Oliver Jewellery | Offline/Online | Visit this licensed pawnbroker in person or mail them your jewelry for appraisal. You’ll immediately receive an electronic cash transfer when both parties agree on a fair price. |
| Canada Gold | Offline/Online | A BBB-accredited buyer of pre-owned jewelry. Staff will evaluate your jewelry in your presence and pay on on the spot. This store offers a 120% best-price guarantee. |
| Pawn Shop | Offline | Visit a pawn shop, have jewelry inspected, receive a quote, and get immediate payment. Compare offers from multiple pawn shops for the best price. |
| Hire a Jewelry Broker | Offline | Hire a jewelry broker for appraisal, negotiation, and assistance, paying fees ranging from 10% to 50% of the sale price. They’ll ensure you get the best price for your piece. |
Selling jewelry on the Internet is good business and can fetch a good price if you know where to sell jewelry online. The trick is to avoid getting ripped off, which you can do by dealing only with legit buyers.
Below is a list of some of the most popular platforms where people sell their jewelry.
1. eBay
If you want to sell jewelry online for cash, online auction sites like eBay are excellent choices because of their global reach. The auction option is a terrific platform for selling second-hand items like jewelry.
To sell jewelry on eBay, take pictures of the jewelry you want to sell and add a keyword-rich description of the item for sale. Refer to eBay’s jewelry selling guide for the details.
Having your jewelry appraised beforehand makes it easy to set your price.
Here are some eBay alternatives to sell your stuff.
2. Kijiji
Kijiji is a popular Canadian online classified advertising website where you can buy, trade or sell anything. It is one place where you can sell your old jewelry online and make money quickly.
Create a free account, post your product listing, upload pictures, set your price, and write a description. Start with a higher amount since most potential buyers will message with a lower offer.
You can post your ad for free at Kijiji, but if you want it featured on the website (so more prospective buyers will find it), you can do so for an additional fee.
3. Etsy
Etsy is a well-recognized online marketplace where you can start a shop for free, put up a listing, upload photos of your jewelry, and start selling.
There are three basic selling fees: a listing fee, a transaction fee, and a payment processing fee. Due to this, selling on Etsy is ideal if you are selling several pieces instead of just one or two.
Take these costs into account when setting the prices for your jewelry. When you make a sale, there will be a transaction fee of 6.5% of the price (for each listing) plus the delivery charge and gift wrapping.
4. Facebook Marketplace
Facebook Marketplace is an online marketplace where you can sell anything without paying anything. It is one of the best places to sell jewelry online because everybody uses the platform, it is easy to use, and it costs you nothing to post your ad.
Start selling by logging in to your Facebook profile and clicking on the Marketplace icon. Upload pictures of your jewelry, provide detailed descriptions and add a price. This way, potential buyers can easily communicate with you using this platform.
Facebook Marketplace is one of the easiest ways to sell jewelry online, and you can do it in the comfort of your home.
Related: How to sell on Amazon USA from Canada.
How to Sell Jewelry Online
Before selling your jewelry online, get a qualified appraiser so you can verify its value and authenticity. Have it cleaned and repaired if necessary to ensure it is in its best condition and to increase its resale value.
Once you have determined the value of the jewelry and restored its condition, take pictures of the item. Choose the right background and proper lighting to highlight the qualities of the jewelry. Provide the description and add appropriate keywords to attract buyers to your listing.
Best Places to Sell Jewelry Near You
Before selling your item in person, you must seek the services of an appraiser and find out how much your jewelry is worth. Doing this will give you a good idea of the potential resale value of your piece in the current market.
It is common for people to search “where to sell jewelry near me” since it is the easiest way to find out how much they can get for their jewelry. Below are some of the most popular options to sell jewelry near you.
5. Your Local Jeweler
Jewellers are experts in the field and know more about jewelry than some of the options mentioned above. They also have outlets to sell your jewelry and can pay you more, which is why they are among the best places to sell gold jewelry.
With your local jeweller, you can choose between selling your item directly to them or consigning it. Plus, you do not need to spend too much time and effort to sell your jewelry.
Most of all, they are generally trustworthy, and you can count on them to appraise your jewelry properly. They also pay you right away when you have agreed on a price.
6. Auctions
Selling your jewelry at an auction is a great option since you can get more from it than if the item were just melted down. Two factors determine the price of your jewelry: the auction house and the market.
To sell at an auction, check the pre-sale prices offered by your selected auction house. If you agree with the estimated amount, sign the agreement to consign your jewelry to the auction house.
When selling your jewelry at an auction house, you will need to pay a commission, which can be a flat fee or a percentage of the sale.
7. Oliver Jewellery
Oliver Jewellery, a licensed pawnbroker in Ontario, is Canada’s top luxury goods buyer and will give you cash on the spot for your jewelry. You can sell your items online or in person. When you visit the store, you can get a free appraisal and receive an offer in minutes.
If you choose to sell online through Oliver’s Jewelry website, you can mail your items and wait for their appraisal value, which they offer free of charge. Upon sale, Oliver’s will immediately send you an electronic cash transfer.
Oliver Jewellery buys diamonds, gold, silver, and other precious stones like sapphires, rubies, emeralds, aquamarines, platinum, palladium, and others.
8. Canada Gold
Canada Gold is a BBB-accredited buyer and seller of gold, silver, diamonds, and other precious metals. Selling jewelry at Canada Gold entails visiting one of their locations, where you can get a free quote.
A trained staff will evaluate and weigh your jewelry in your presence using state-of-the-art machinery, issue a receipt, and pay you on the spot. Canada Gold offers a 120% best-price guarantee to ensure you get the highest price for your jewelry.
If you want to sell gold, Canada Gold offers a mail-in service wherein you send your jewelry using GoldPack to have it tested and get paid with cash within one business day of receiving your item.
9. Pawn Shop
Pawn shops are a good option if you want to make a quick sale. Depending on what pawn shop you choose, dealers will typically inspect your jewelry, give you a quote, offer you a price, and pay you immediately.
If you intend to sell your jewelry as quickly as possible, your best bet is going to a pawn shop. To help ensure you are getting the best price, make sure to shop around first.
Take your jewelry to several pawn shops to see how much they are willing to pay for your jewelry. Then, sell it to the one with the best price.
10. Hire a Jewelry Broker
Jewelry brokers are professionals highly trained in jewelry. They are a go-between, acting on your behalf and ensuring you get the best deal possible for your jewelry.
Jewelry brokers will not only appraise your item. They will also find a local dealer willing to pay a good price for your piece. They can also assist in getting your jewelry to an auction house.
While jewelry broker fees vary from one broker to another, they can range from 10% to 50% of the sale price, depending on the type of service provided.
Related: Profitable business ideas to start in Canada.
How to Earn the Most Money Selling Your Jewelry
There are several ways to sell your jewelry, but knowing the best option can be challenging. How do you choose the right buyer? How do you know you are getting the most money selling your jewelry?
Below are crucial factors that help you sell your jewelry for a great price.
- Prepare your jewelry for sale. Cleaning, repairing or restoring your jewelry can impact its value when it is time to sell it. You can improve its appearance by cleaning it thoroughly using dish soap, warm water, and a soft toothbrush.
- Have your jewelry appraised before selling it. As previously mentioned, you must get an experienced jewelry appraiser to inspect your item. It is unlikely that you will find a buyer to purchase it at its original price, but knowing the market value of your jewelry will help you sell it at the best price.
- Find a jewelry buyer with years of experience. Check their reputation with the Better Business Bureau. Make sure to read the fine print on their website to know what you are getting into.
- Shop around. A concrete way of finding the best price for your jewelry is by physically taking it to jewellers in your area. Experts recommend getting written quotes for your item. Doing this makes it much easier to choose the shop that offers the best value for your jewelry.
FAQs
Selling your jewelry in person to a local jeweller may be the best way to get the most money out of it. To be sure, choose between pawn shops, consignment shops, and jewellers. Make sure to shop around before deciding on where to sell your item.
Deal with trusted and reputable jewellers. They will give you a fair market value for your jewelry and are transparent about their selling process. If you use a mail-in service, take photos of your jewelry before shipping it. Make sure to send it insured. Use a delivery method that proves the company received your item.
When you sell gold worth over $200 in Canada, the law requires that you report it. You do not need to report transactions that are less than that.
A pawn store will generally offer a higher price if you sell them your gold jewelry rather than pawn it, especially if it is an in-demand item, such as a high-end gold watch. For example, if you have a gold watch worth $2,000, the pawn store may only loan you less than $1,000. But if you sell it to them, you may get $1,600 for it.
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