Thinking of Selling Your Jewelry?
Here's what three experts want you to know
Selling jewelry can feel like navigating a maze. With so many options—from online resale sites to neighborhood pawn brokers, auctions, and retail buybacks—it’s easy to feel overwhelmed. The jewelry industry is notoriously insular, and while information is available, it often comes from so many different sources that it’s hard to know what to trust. Misinformation and misconceptions cloud the process, and the path to a fair sale becomes even more elusive.
My goal here is to demystify the complexities of selling jewelry by providing straightforward insights, helping you navigate the resale market with confidence. By sharing insights from an auctioneer and appraiser, a jewelry buyer, and a retail store manager, I hope to give you a well-rounded understanding of your available options. And stay tuned—we'll dive into how to sell your jewelry independently on platforms like The RealReal and eBay in an upcoming post. Keep your eyes peeled!
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Interviews have been edited for clarity and length.
Martha Garcia, Senior Vice President and Appraiser, Doyle Jewelry Department
Auction Timing and Market Dynamics
How do you help a client decide the right time to put an item up for auction?
We like to strike when the iron is hot when it comes to selling at auction! If the client’s piece is currently trending—such as a chic Van Cleef & Arpels pendant on a long gold chain (like lot 193 in Doyle’s December 12th, 2024 Important Jewelry auction from the Collection of Joanne B. Breyer)—we would encourage them to sell it as soon as possible through the appropriate auction. Of course, everyone has a different walk of life and comes to auction with a different set of needs, but ultimately, we are a platform to help maximize selling price. For their items that are very popular in the current market, it is best to give the people what they want. It is also important to consider the client’s readiness to sell. Our clients often come to us at turning points in their lives, and the sentimental value of jewelry is a very real thing. I focus on compassion and truthfulness for these clients, and hopefully give them the tools they need to make an informed decision at a difficult time. All that being said, Doyle auctions have a robustness at nearly every price point, and auctions every single month to accommodate this strong jewelry market.
Can you share examples of how market trends impact the sale of jewelry at auction?
Market trends are very important – and honestly, fun! It would be boring if buyers’ preferences stayed the same all the time, no? As the luxury world shifts more towards name-brand recognition, the gap in selling prices between signed and unsigned jewelry at auction has widened. Especially in the secondary market, buyers value the security a known brand provides. This is a trend that has been gaining strength in recent years. The way Cartier Gold Panthère watches have a hold on the auction market is astounding! They are selling consistently well both at auction and retail.
Another exciting trend is the return of the brooch! We attribute this to stylists working with brands to feature brooches on the red carpet – not just on lapels, but creatively affixed to dresses. As a result, brooches are getting more attention at auction, especially if they can be converted into pendants. Lastly, the fluctuations in the diamond market over the past two years have led buyers to focus more on colored stones, which is really exciting. There's a growing enthusiasm for color across the board.
“The auction consignment process is a partnership. The house does well when the consignor does well, and vice versa.”
Setting Expectations
What is the best way for sellers to understand the range of prices their piece might achieve at auction?
This is a very important point to make in relation to the transparency of the auction market – it is visible! You can google anything and see what it sells for at auction. This is no secret. I often show clients that are selling similar items that have sold recently at Doyle and other houses. It helps to set expectations and assure a smooth road ahead. Of course, the benefit of auction is that you never know what can happen – it is a live show after all! Auction estimates are important tools for marketing a piece. By placing a more attractive estimate on a piece, you will attract more bidders, more bidding competition, and ultimately achieve a higher selling price. Auctions typically operate on consignment, and we work with the seller to customize a commission structure that is amenable to both parties. The auction consignment process is a partnership. The house does well when the consignor does well, and vice versa.
How do you handle situations where an item sells for less than the seller expected?
Again – transparency and setting appropriate expectations are essential. I have almost never had an item sell for less than expected when a client has agreed to my suggested auction estimates. It is when the client has higher expectations on price and is firm in those, that they are often disappointed in the selling price. I always communicate this to the consignor, which helps to set those expectations. Communication is everything.
Maximizing Appeal
What are the key factors that make a piece more appealing to auction buyers, and how can sellers prepare their jewelry for auction?
We spoke about trends, so having something that is currently “hot” in the auction market will naturally make it more appealing. Signed pieces are especially desirable, and original collateral such as branded boxes, paperwork, or certificates can significantly enhance their value.
Condition can matter but isn’t always a primary concern. Well-made jewelry is designed to be repaired and maintained over time, so minor imperfections aren’t usually a deal breaker.
Do auction houses offer any services (cleaning, appraisals, etc.) that help increase the value of a piece?
Yes, we often clean pieces or replace small stones that could affect their selling price. We also test appropriate stones at the laboratories to increase their selling potential, such as quality diamonds over 2.00-carats, colored stones that we believe might be from desirable localities such as Colombian emeralds, Burma or Thai rubies, or sapphires from Sri Lanka, Burma (Myanmar) or Kashmir, among others. Facilitating this testing process for clients can be time-consuming, but it is an essential step in maximizing the value and appeal of these exceptional pieces.
We also provide marketing and advertising for special pieces in upcoming sales. For example, a collection of Harry Winston jewelry from the estate of Joanne B. Breyer is marketed in major publications such as the New York Times and the Wall Street Journal. Additionally, many of our auctions travel to our galleries around the country, in Beverly Hills, Palm Beach, Boston, Charleston, and Washington D.C., where pieces are displayed for clients through exhibitions and private previews. This wide exposure helps attract a larger pool of potential bidders, increasing the likelihood of achieving better sale results.
Thuyvi Tran, Director, CIRCA San Diego
Evaluating Value
How do you determine if a piece is valued more as a piece of jewelry or as the sum of its materials (e.g., diamond vs. entire piece)?
Every piece of jewelry has intrinsic value, whether from its materials or its craftsmanship. However, certain factors can elevate its worth beyond the sum of its parts. For example, I consider the era of the piece—does it have historical significance, such as being from the Art Deco period? Hallmarks and stamps are also crucial, as French hallmarks or branding from prestigious houses can add considerable value. Additionally, the construction and quality of the materials play a big role. I always examine the underside of a piece; how it’s finished often reveals a great deal about its craftsmanship and overall quality.
What criteria do you use to assess whether an offer is fair, especially if the seller doesn’t have paperwork or an appraisal?
Determining a fair offer requires a combination of historical data, market experience, and competitive analysis. At CIRCA, we rely on an extensive digital library that catalogs past and present data points for a wide range of products, helping us establish accurate valuations. Ultimately, we can only purchase items based on what we know we can resell them for. Our goal is to provide the best possible offer, regardless of whether the piece has paperwork or not.
It’s also worth noting that appraisals are often subjective, intended primarily for insurance purposes to protect the consumer. When assessing a piece, I focus on its inherent qualities and market demand, using analytics and expertise to determine its value organically.
“For sellers looking to maximize their profit, the key is in the details. Retaining all the original accoutrements—such as the box, paperwork, receipts, and tags—can significantly enhance the value of a piece.”
Market Demand
Are there certain times of year or market trends that affect the resale value of jewelry? How can a seller time their sale to maximize profit?
In my experience with CIRCA, any time is a good time to sell. Our business is not tied to seasonal holidays like Christmas or Valentine's Day, as we have buyers year-round for all types of jewelry, diamonds, and watches.
For sellers looking to maximize their profit, the key is in the details. Retaining all the original accoutrements—such as the box, paperwork, receipts, and tags—can significantly enhance the value of a piece. Additionally, condition plays a crucial role. The closer a piece is to brand-new or mint condition, the higher the resale value, especially when it comes to watches.
Direct Sales
What are the pros and cons of selling directly to a buyer like you compared to going through an auction or consignment platform?
The biggest advantage of selling directly to a buyer is the immediacy of the transaction. Sellers receive instant payment with no commissions, which is a significant benefit compared to auction or consignment platforms. In my experience, our offers often surpass those of other selling methods once you account for the commission and fees typically associated with auctions or consignments.
That said, there are rare occasions when an auction or consignment platform might yield higher returns. This can happen when a piece is sold directly to the public and generates significant interest—possibly even a bidding war that artificially inflates its value. However, this is usually limited to extremely rare and exceptional pieces.
Another consideration is time. Auctions and consignment platforms often involve a lengthy process that includes cataloging, marketing, and waiting for the right buyer. For most sellers, the flexibility and convenience of a direct sale outweigh the potential for a higher price in these rare cases.
How do you typically establish trust with sellers who may be unfamiliar with the buying process?
Establishing trust with sellers, especially those new to the process, is essential but not always easy. Many people I’ve worked with during my 20-year career have never sold jewelry before and are understandably cautious.
The key to building trust is transparency. I make a point to clearly explain each step of the process and set realistic expectations upfront. Sellers need to feel informed and reassured that they are dealing with someone knowledgeable and ethical. Transparency fosters confidence, and confidence is the foundation of trust.
Sasha Krivitsky, Store Manager, Oakgem
Resale Value and In-Store Demand
How do you decide which pre-owned pieces to buy for resale? Are there specific types, brands, or materials that do better in a retail setting?
At Oakgem we try to assist the client in purchasing anything they may want to sell. We are most effective with designer signed items or time period forward items are pieces we wish to keep in stock to resell on our website.
“Prices vary over time depending on the item, but we always offer extra credit for clients looking to facilitate a trade.”
In your experience, what kinds of jewelry hold their value best in a retail environment?
Designer signed pieces almost always command a premium over intrinsic value. There are usually decades of history and millions of dollars in marketing spent keeping them en vogue.
Buyback and Trade-In Policies
Does your store offer buybacks or trade-ins? How do these programs work, and how do you decide the trade-in or buyback value?
We most definitely offer buy-back and trade in for our clients. Prices vary over time depending on the item, but we always offer extra credit for clients looking to facilitate a trade. We work very hard to earn a client and try to do our utmost to keep them happy.
What factors do you consider in determining a buyback price, and how does it typically compare to the piece’s original retail price?
The factors that influence the buyback price include the value of the metal, the quality and type of gemstones, and the style and desirability of the piece. Trends and market demand also play a significant role, as these can change over time. For certain designer-signed pieces, such as Van Cleef & Arpels, Cartier, Tiffany & Co., and Bulgari, the original retail price is an important consideration in determining the buyback value.
Timing and Market Trends
Are there certain times of year or events that impact jewelry demand in your store, making it more advantageous for sellers?
Sure! Right now many people are taking advantage of the rising price of gold, using it as an opportunity to sell pieces they have not worn in their jewelry collection. Often times when clients are moving, looking to downsize or pass items down to their children or grandchildren is when they come to see us. Also, any time around the holidays, jewelry tends to command a higher premium as it is a busy season for retailers.
How do consumer trends influence what you buy for resale and the prices you offer?
Jewelry is fashion, and trends are important! However, trends are not for everyone and they do come and go. That is something we have to be aware of when offering on an item that may be "on-trend" at that moment. We try to lay the foundation of our collection with iconic brands and then add “on-trend” pieces.
In-Store vs. Other Selling Methods
What are the advantages of selling directly to a retail store versus consignment or auction options, in your opinion?
Immediate payment is your number one advantage. You don't have to worry about getting paid in a matter of months, etc. or the consignment market place discounting your items and getting a smaller payout than you expected.
Do you feel that sellers often have misconceptions about what they can receive for a piece when selling back to retail?
Sellers often look at the retail price of an item they purchased and expect to get close to that value. However, the secondary market does not always command a value that is close to the original retail. This is also dependent on the piece and the designer.
Establishing Trust and Transparency
How do you communicate the resale value to sellers who may have emotional or financial expectations tied to their piece?
Sentimental value is priceless. If you are emotionally attached to a piece of jewelry, it may not be the right time to sell it, we deal with that quite often. However, if it is something you have prepared yourself to take action on, the most important aspect of the selling process is trusting the person or company to which you are selling. The rule of thumb is; if you haven’t worn it in three years, you should sell. We try to educate our clients as much as possible on our position in the industry and experience, so they are confident that we are the right outlet to represent their prized possessions. If a client has financial expectations that we cannot meet, we are more than happy to be their last stop when looking to sell their piece. If it makes a client more comfortable to show their items to multiple outlets, that is a process they should explore.
In your view, what should sellers look for in a trustworthy retail store that buys pre-owned jewelry?
A trustworthy retailer is someone who you would also feel comfortable buying jewelry from. Someone who is a wealth of knowledge, but also listens to you. The business should be well recognized by the Better Business Bureau and have great Google reviews. If they have a website where they resell their product like in our case, how professional does the website look? These are all factors that go into an honest business.
Thank you so much for reading—I hope you found this piece helpful.
I’d love to hear from you! Please feel free to reach out with any questions you may have about the selling process, if you need advice, or if you're looking for assistance sourcing something special. I’m always happy to help.
It is truly a privilege to share knowledge, educate, and inspire you through this newsletter.
Until next time,
xx Veronica
