Sell with Confidence through Our Jewelry Consignment Services

Consignment: A Lucrative Option to Sell Your Jewelry

Are you looking to sell your jewelry? Have you considered consignment? Consignment is a process that allows you to sell your jewelry without having to deal with the hassle of finding potential buyers. Instead, you leave the responsibility of finding a buyer to a third-party, while you sit back and wait for your jewelry to sell. In this article, we will discuss the consignment process in detail, from evaluation to payout.

Introduction

If you are considering selling your jewelry, you may want to consider consignment as an option. Consignment offers many advantages over other methods of selling your jewelry. In this article, we will explore the process of consignment, including evaluation, pricing, and payout.

Evaluation

At our store, Barb, our estate specialist, handles all consignment evaluations. If you are interested in consigning your jewelry, you can call or email her to make an appointment. During this appointment, Barb will assist you in determining the value of your jewelry and advise you on whether consignment is the right option for you.If you decide to sell your item immediately, we can offer you its scrap value by breaking it down into its basic raw components such as metal and gems. However, this option will result in the lowest payout as it does not consider the design, assembly time, and craftsmanship that went into creating the piece, which typically represents a significant portion of its retail value. Please note that we can only provide payment based on the scrap value of the metal and gems used in the item.

Pricing

If you decide that consignment is the right option for you, we will work with you to establish a selling price that aligns with your desired return and our store's profit margin. It is important to note that items sold on consignment typically sell for around 40% below their original retail value in order to attract potential buyers. This pricing strategy ensures that the item is priced competitively and is more likely to sell quickly.Once committed, we will photograph, meticulously clean, and inspect the item. The item will be documented, bar-coded, and tagged. The item will be placed in the appropriate display with similar items to attract potential customers. The photo will be placed online in our Estate or Vintage section of our website, broadening the potential customer pool. Our staff will become familiar with your items and will show it to anyone that has an interest in similar items. With any luck or skill from the sales associate, the item will sell.

Payout

It's important to keep in mind that with consignment sales, you won't receive payment until your item sells. This can take some time, depending on market demand and the uniqueness of your piece. Nonetheless, we work diligently to promote your jewelry and attract potential buyers to our store. Our team can also provide you with regular updates on the status of your items and answer any questions you may have throughout the consignment process.You will receive payment for the pre-arranged price 30 days after the item sells, to accommodate our return policy. After the sale, we will generally wait 3 to 4 weeks before paying out on the item to ensure that the new owner is happy with their purchase. In the rare case that the item does get returned (for exchange only), we would fully and carefully inspect the item to ensure that no damage has occurred and it is still in the condition it was in when it was first displayed.If all goes well and the item isn't returned, we will cut you a check for the original, agreed-upon price. Anything that we make above that price, the store keeps.

Advantages and Disadvantages of Consignment

Consignment offers many advantages over other methods of selling your jewelry. First and foremost, consignment can result in a much higher overall price for your jewelry. This is because consignment allows your jewelry to be sold at a competitive price, attracting potential buyers who may not have been interested in purchasing your jewelry otherwise. Additionally, consignment allows you to sell your jewelry without having to deal with the hassle of finding potential buyers on your own.However, it's important to keep in mind that there are also some disadvantages to consignment sales. With consignment, you won't receive payment until your item sells, which can take some time. Additionally, items sold on consignment typically sell for around 40% below their original retail value, which may result in a lower payout for you. Finally, you will need to be patient and willing to wait for your item to sell, as it may take some time depending on market demand and the uniqueness of your piece.

Conclusion

In conclusion, if you are looking to sell your jewelry, consignment may be a lucrative option for you. By allowing a third-party to handle the sale of your jewelry, you can sit back and wait for your item to sell while potentially earning a higher overall price. However, it's important to keep in mind the disadvantages of consignment, including the potential for a lower payout and the need for patience throughout the sales process.

FAQs

• How long does it typically take for an item to sell on consignment?

  • The time it takes for an item to sell on consignment can vary depending on market demand and the uniqueness of your piece. It may sell within a few weeks or it may take longer, potentially up to a few years.

• How is the selling price of my jewelry determined on consignment?

  • We will work with you to establish a selling price that aligns with your desired return and our store's profit margin. Items sold on consignment typically sell for around 40% below their original retail value in order to attract potential buyers.

• Will I receive payment for my jewelry immediately upon consignment?

  • No, with consignment sales, you won't receive payment until your item sells. This can take some time, depending on market demand and the uniqueness of your piece.

• What happens if my item is returned by the buyer?

  • In the rare case that the item does get returned (for exchange only), we would fully and carefully inspect the item to ensure that no damage has occurred and it is still in the condition it was in when it was first displayed.

• Can I pick up my item at any time during the consignment process?

  • Yes, you can pick up your item at any time by calling us prior to coming in.

• Can I lower the selling price of my item if it's taking too long to sell?

  • Yes, if your item is taking too long to sell, you can always ask us to lower the agreed-upon price to help speed things along.

• Is consignment the only option for selling my jewelry?

  • No, consignment is just one option for selling your jewelry. You can also sell your jewelry immediately for its scrap value or find a buyer on your own.

• Will I be charged a fee for consigning my item(s)?

  • No, there is never a charge from us to consign your item(s).

• What happens if my item is lost or stolen while on consignment?

  • Our store is fully insured through Federated Insurance Company, so in the extremely unlikely event of a loss or theft, our insurance would immediately pay you, in full for the agreed-upon price of your item(s).

• Is consignment a good option for all types of jewelry?

  • Consignment can be a good option for many types of jewelry, but it may not be the best option for all types of jewelry. Barb, our estate specialist, can advise you on whether consignment is the right option for your specific piece.