Jewellery buying patterns have evolved a lot in the last decade, especially since there are so many choices now, from expensive fine jewellery to luxury, design-rich bling and workwear jewellery. The change is jewellery shopping takes a toll in jewellery resale obviously. So many millennials want to exchange their dated, heirloom jewellery for something a little more contemporary but often don’t know where to start. And re-selling jewellery can often get confusing, the vastness of alternatives comes into play and given a large number of jewellers and options available, it may not be an easy task for you to decide where you want to re-sell your jewellery. It’s actually a pretty straightforward process, and there are a few things you need to keep in mind for a fair resale transaction. Have a look:
Go to the original seller first:
It is always recommended to first approach the jeweller who sold you the item. This is because every jeweller promises a certain buy back policy or value at the time of purchase. It comes in use during jewellery resale. Here’s why:
Promises better return or exchange value
Most jewellers also have an exchange policy where they offer 90 – 100% exchange value during jewellery resale. Which means you can get a new piece for almost the same amount of money that your piece costs at the time of resale (meaning gold is always adjusted/bought back at the current gold rate). You may pay the difference if you choose something more elaborate. Remember, at the time of jewellery resale, there are good chances your exchange value is higher than the original value because of price escalation in the metal and gemstones prices.
Follow the written policy
At the time of jewellery resale, to get maximum value from the original seller, it’s important that when you’re buying new jewellery, be thoroughly aware of the lifetime buy back or exchange policy.
Particularly find out about gemstone buy backs
There are a few jewellers who sell synthetic or semi-precious gemstones (set in gold/ diamond jewellery) without buy back promise, so the exchange value will exclude the cost of such stones. So it’s always important to check; especially in the case of gemstone jewellery. Find out if the cost of the gemstones is included in the exchange plan. However, if the retailer offers a certificate for the gemstones at the time of purchase or categorically mentions the buy-back of coloured stones then you can expect a return/ exchange value. That’s because these stone are most certainly high quality natural colored gemstones.
Here is what branded chain stores offer
Please note that most reputed jewellers or retail chain brands do not have a policy of exchanging gemstones (colored or diamond) studded jewellery which has not been sold by them. They may, however, accept pure gold jewellery without any embellishment and in the exchange offer you jewellery from their store.
But what can you do when you can’t trace the jewellery back to its source? Or you can’t reach the original seller due to geographical constraints?
Try the family jeweller
At the time of jewellery resale, in case geographically reaching out to the jeweller (who sold the piece) is a tough job, you can take your piece to a family jewellery outlet near you. Be it a local jeweller or a branded family jeweller, if you have jewellery and a bill, you will most easily get immediate resale value for pure gold jewellery at the current market rates.
Buys back or exchanges only the gold not studded stones
For gemstone jewellery, especially when it comes to the resale of studded jewellery which includes semi-precious or precious gemstones a jeweller may buy or just exchange the gold as per the weight and purity of the metal. This means, at time of jewellery resale or exchange, the diamonds or other precious embellishments- will be returned to you. In this case, you can set it in another piece anytime later, or try using them elsewhere.
May offer low exchange value for studded gemstones
There may be an exception where a jeweller possesses the facility to assess the precious gemstones and offer you a reasonable exchange price. The price may or may not be equivalent to the price you originally paid for those precious gemstones. This holds true for both certified and uncertified precious gemstones. But be cautious because there are chances that at the time of jewellery resale the buy-back price of these precious gemstones will be lower than the original buying rate.
Helps you re-make the design
There’s a good chance that at time of jewellery resale, a jeweller will agree to remake the piece using the gemstones, in which case you will have to pay the making charge and additional material cost. You can also choose a really contemporary silhouette, something new and personalised that’s bespoke and not run-off-the-mill
