Why You Should Auction Your Fine Pieces Of Jewelry Rather Than Straight Up Selling Them?

words Alexa Wang

Maybe you have a few pieces of jewelry sitting on your vanity that you are no longer using. It could be that you’ve outgrown them already, or perhaps, you have new pieces that you prefer more. If that’s the case, you may be thinking about how you could properly dispose of them. If you’re thinking of a way to give them a new life while getting to earn some money, then you have two options at your disposal. You can either opt for selling them or putting them at auction.

In general, jewelry can be costly. And its sheer worth could prompt some unsavory characters to try their luck. Scams involving valuables are rife, and being aware of this could safeguard your investment. For reasons like these, more and more people are choosing to sell their jewelry at an auction.

That said, this article will outline some more reasons why selling your jewelry at an auction can be better than straight-up selling them.

Auction Jewelry

Auctions Have Broader Audience

Aside from jewelry, most auctions also feature other valuable items such as art, antiques, or collectibles. Since these auctions specialize in these items, it may just be the perfect place to sell your fine pieces. And with their expertise in the field, auctioneers know precisely how to manage the sale of jewelry. Not all private selling options would show the same appreciation for a fine jewelry consignment as an auction may do.

More so, auctions attract people from all walks of life, especially when they are stocking a variety of different items. Because more people are attending auctions, there is a greater chance of selling the jewelry at a price requested by the seller. Private deals could limit the seller to a specific area or audience, where auctions could provide a niche market for selling the items.

Selling jewelry at an auction could save a lot of time for the current owner. Having to search for the best offer could take quite some time on their own, but it could be much easier with the broader audience of an auction house.

Auctions Can Be Held Online Or In-Person

There are many venues for live auctions that anyone can attend, but online platforms could provide a similar service to their customers.

Technology has allowed auction items to be displayed on a website instead. This online presence means that buyers and sellers can meet even with social restrictions or other limitations. Reputable auction houses could give the seller peace of mind that their jewelry will be safely sold to the highest bidder.

Online selling could also be a safer option for weary sellers. Having been scammed in the past may cause the seller to be less trusting in others, and leaving the responsibility in the hands of the auction house could help ease the feelings of doubt.

Jewelry Auction

Auctions Offer The Best Return On Investment

Selling the fine jewelry that has been in your possession for such a long time deserves the best value, and value for money is something that sellers will find at an auction.

Private buyers tend to always look for the best investment at the lowest cost, where auction houses could earn more when selling the items at a higher price. Selling jewelry this way could be a win-win situation for both the seller and the auction house.

Also, auction houses could have professionals willing to appraise the jewelry and give the best possible feedback regarding the value and quality of the jewelry. A professional opinion may weigh in heavily on the sale of the goods and could increase the seller’s value.

Auctions Have Dependable Service

Working with a reputable auction house could hold more benefits for the seller than a return on investment. Regular, scheduled auctions carefully planned by the auction house can make for a more dependable way for jewelry owners to sell their fine pieces.

In addition, there are operating policies in place and valid documentation that can help further ensure that the seller will receive their payment and the buyers receive their goods as promised.

Auctions Can Help In Marketing

Advertising is not everyone’s forte, and advertising the products you are selling could be the most daunting aspect of the process. The picture you take of the jewelry may not do it justice, and it could be marketed to the incorrect audience.

An auction house would likely already have an established marketing strategy to ensure that items receive the maximum exposure. The art of trading has been around for centuries, and with years of experience, auction houses most likely had enough time to perfect their trade.

Considering The Options

Selling jewelry may be a complex task, especially for someone who doesn’t have enough experience in the trade, and more so, a team of professionals behind them. With that in mind, an auction may provide a full range of services, including marketing and appraisals, that would otherwise not be available privately selling the consignment. Trusting a reputable auction house with your fine jewelry consignment could be the best decision for your pre-loved masterpieces.

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