Selling Estate Jewelry: Should You and How to

Selling estate jewelry can be a difficult task both physically and emotionally. Many struggle with the emotional turmoil of selling a loved one’s jewelry. Even after finding closure, it can still be difficult to find the best way to sell it. 

We want to help individuals and families overcome their challenges so that they can confidently sell the estate jewelry in their possession. We will help you see that it is OK to sell this jewelry and provide you with the information to help determine the best way to do so. 

Is it wrong to sell inherited jewelry?

Many experience guilt when it comes to selling the belongings of a loved one. They question if it’s right to get rid of the property especially if it was prized by their loved one or holds sentimental value.

Property passed down from a loved one should be a blessing and not cause stress in one’s life. As cleanout specialists, we meet families all the time that inherit a home or estate packed with items their deceased loved one held dear or that hold sentimental value. Often times these belongings no longer hold value and have cluttered the home. While the family may desire to keep everything, they realize it is an unrealistic expectation. And it’s actually quite interesting to see the relief that comes over the family once the home is cleared of all the belongings that no longer hold value. 

It is not wrong to sell the jewelry inherited from your loved ones. No one would want their belongings to burden their family once they’ve passed away. However, if the jewelry is sentimental to someone in your family, allow them to keep it. You may also consider holding on to a couple pieces of jewerly as a keepsake. For example, maybe Grandma had a pair of earrings that aren’t worth much now, that she wore to church every Sunday. 

It’s OK to sell inherited jewelry but it’s also OK to hold on to things for a little while. If the passing of a loved one was recent, it may take time before you’re ready to part with something. 

Ways to sell estate jewelry

When it becomes time to sell the jewelry or other items of an estate, there are many ways to go about it. Some ways are quick and easy while others take much longer but may allow you to earn more from the sale. Each will have its own advantages and considerations. 

Below you can explore the different ways and later we will discuss how to choose the best option.

Local Jewelers or Dealers

Visit local jewelers, dealers, or jewelry shops in your area. Some jewelers may be interested in purchasing estate jewelry, especially if it includes high-quality pieces. In many cases, local jewelers may only choose to purchase select pieces based on their store and what their clientele purchases. 

You may also find mobile jewelry dealers in your area who are willing to come to your property and purchase the jewelry for cash on the spot.

Auctions

Consider consigning the estate jewelry to reputable auction houses. Auctions provide a platform for competitive bidding, potentially driving up the final sale price. Research and choose an auction house with experience selling jewelry, and be aware of any associated fees.

Online Auctions and Marketplaces

Explore online auction platforms like eBay or EstateSales.org, or specialized jewelry marketplaces such as Worthy, or Ruby Lane. These platforms connect sellers with a broader audience, and you can set a reserve price to ensure your jewelry sells for a reasonable amount.

Estate Sale Companies

Engage the services of an estate sale company that specializes in selling a variety of items, including jewelry. These companies often organize on-site sales, which can attract local buyers. They handle pricing, marketing, and the logistics of the sale, but they may charge a commission on the total proceeds.

Private Sale

Consider selling the estate jewelry privately to friends, family, or acquaintances. This option can be more personal, and you might have more control over the selling price. However, finding the right buyer may take time, and it may limit your reach compared to online or auction options.

Pawn Shops

You can visit a pawn shop if you're looking for a quick sale. Remember that pawn shops may offer lower prices than other selling methods, as they typically buy items with the intention of reselling them for a profit.

Consignment Shops

Some consignment shops specialize in selling high-end or vintage jewelry. You can consign your estate jewelry to these shops, and they will sell the items on your behalf, taking a percentage of the final sale price.

Scrap or Gold Buyers

If the jewelry is primarily made of precious metals and has little antique or collector's value, you might consider selling it to a scrap gold buyer. They assess the value based on the weight and purity of the metal, providing a straightforward and quick transaction.

Online Classifieds

Platforms like Facebook Marketplace, or other local online classifieds allow you to list and sell items directly to individuals in your community. Be cautious and ensure safety when meeting with potential buyers in person.

Charitable Donation

If the sentimental value is more significant than the financial gain, you might consider donating the estate jewelry to a charitable organization. Make sure to obtain a proper appraisal for tax purposes if you choose this option.

Before deciding on a method, carefully evaluate your priorities, timeline, and the specific characteristics of the estate jewelry. Additionally, it's advisable to seek professional appraisals and legal advice to ensure a smooth and informed selling process.

Factors that influence your decision of how you sell your jewelry

As we saw, there are many options to choose from when looking to sell inherited or estate jewelry. Each option has its considerations based on your needs. 

If you are trying to determine the best option, you will have to first understand your needs. What you choose will be based on several factors including:

• Your urgency to sell
• The sentimental value
• The type of jewelry
• How much jewelry you have to sell

For those who have a lot of jewelry and want to get rid of it fast, they may consider an on-the-spot offer from a mobile jewelry buyer.

When it comes to sentimental pieces, these are best kept or donated. The piece can be donated to a museum where it can be admired or donated somewhere near and dear to your loved one. 

If there are jewelry pieces that hold a high appraisal value or are unique antiques, you may want to consider a private sale or holding an auction. 

For those who have a lot of estate property to get rid of along with the jewelry, they may want to consider an estate sale or estate liquidation. 

Take time to consider your needs and all the factors at hand, then you can more clearly find the best way to sell your estate jewelry.