- The jewelry resale market notoriously undervalues the true worth of many pieces.
- Sellers that investigate their options tend to receive higher returns than those who go to local jewelers. Keeping jewelry that you do not wear can be a bad financial choice; the value of diamonds is down more than 10% over the last 5 years, while the Fortune 500 index is up 40%+ over the same period.
- Local marketplaces like Craigslist or Ebay are fraught with scammers who can leave sellers empty handed.
While any resale market is difficult to gauge, selling your jewelry can be especially challenging. The idea of selling a beloved ring or earrings for “scrap” is not easy, especially when going through a divorce or selling estate pieces.
That’s exactly why the team behind Worthy set out to make the process easy by connecting fine jewelry sellers to a network of professional buyers for an online auction. Sellers typically earn 2-3 times more than they would at a local jeweler or pawn shop.
For individuals, there has never been a better time to consider selling jewelry. As a global pandemic rages on, many people are in need of cash to pay their bills. Even as we return to society and the economy reopens, there remain a lot of unanswered questions about employment, schools, and the market. To find extra funds, people are looking through their jewelry boxes to see what they can part with—and do so in a way that does not even require leaving home.
Additionally, one might let go of their jewelry because of divorce, which is thought to be on the rise as couples quarantine together. While it’s never easy to part with rings and other gifts, it might prove even harder to hold onto reminders of the past, especially as you move forward with your life. Explaining certain jewelry to new partners is also difficult.
Estate sales are another reason to part with jewelry. While it’s difficult to say goodbye to a loved one, holding onto their items can be even harder. There tends to be an internal conflict: You want to honor their past, yet you want to get top dollar for the sale of their items.
Worthy provides buyers and sellers with full transparency every step of the way. They make it easy to send your jewelry, so you can move onto another phase of your life with the funds to start something fresh. With Worthy, you have nothing to worry about when it comes to security as your valuables are insured up to $100,000 with a Lloyd’s of London insurance policy. As a seller, you set the price and are always in control, making it a completely win-win, risk-free process for everyone involved. If you’re ready to let go of the past and invest in your future, Worthy is a seamless and safe way to go about it.