Platinum is an extremely popular type of metal that is used in jewelry – especially wedding bands. The white metal has a high appeal and is somewhat rare when it comes to metals. When you want to sell your platinum jewelry, there are a few things to be on the lookout for.
Find Out What Type of Platinum Jewelry You Have
Platinum has a high value; however, you need to ensure you do have platinum and not silver or white gold. Also, have the jeweler weigh it and tell you what the weight is. Many will make estimates, which isn’t going to provide you with fair value.
If there are stones within the platinum jewelry, find out what they are.
There’s a big difference in value between various types of gemstones.
For example, colored glass and gemstones are priced very differently.
If you think you have one and you have the other, it may cause you to be taken advantage of by the person buying your jewelry.
Different engravings, designs and settings can be of higher value than others. You may get more money for Victorian or vintage jewelry.
If you know the history of the piece or you have any paperwork on it, make sure to bring it with you when you go to sell the jewelry.
If your platinum jewelry has diamonds or precious gemstones, or is a well-known brand, you can try contacting diamond jewelry brokers to get a quote.
Shop the Platinum Around
The only way to know that you’re getting a good deal is to shop the platinum jewelry around and see who is going to provide you with the best deal. Ask at each place what you can get paid for the jewelry.
Ask the jewelers tell you the amount, find out what the weight is and any other quality points they provide, such as carat weight of any stones.
Remember that you want to try and sell the jewelry for what it is, not just weight.
Many jewelers will buy solely based on the weight. This means they are likely going to melt it down and reform it into something else that will sell.
If that’s your only option – fine. However, if there is some history behind the piece, it may be better to find a jeweler that is willing to pay a premium for it.
Ask for a quote from at least three jewelry stores. Make sure to go into professional jewelry stores and not pawn shops in order to get reasonable quotes.
Tips to Get the Most Money for Your Platinum
If you want to sell your platinum jewelry, here are some tips to getting the most for it:
Ask about a trade. If you sell your jewelry to a jewelry store and you have your eye on a new piece, see if the store will give you more because you’re going to buy jewelry within it.
Many jewelry stores will give you more if they know you’re going to turn around and spend it there.
Bring the receipt if you have it. Some jewelers will give you more for jewelry if they know how much it cost you initially.
Focus on quality, not weight. The stores and shops that are going to weigh the platinum and provide you with a quote without looking at details are not the best places to sell your ring. Spend some time shopping it around.
Where Should I Sell My Platinum Jewelry?
One of the options is to sell to a jewelry broker that operates online or as a brick-and-mortar business.
Apart from selling to specialized jewelry brokers, you can also offer your platinum to brick-and-mortar jewelry stores to see how much they would be willing to pay.
Scrap jewelry buyers (cash-for-gold places) are also an option, but you should try them last because they will pay only for the metal in your jewelry. They won’t pay additional money for the brand or antique value of your piece (if it has any such value), unlike jewelers or jewelry brokers that could pay more because they intend to resell your item, not melt it for scrap.