Are you seeking to promote your diamond jewellery? The provides can differ wildly relying on the place you go, which is why it’s so essential to do the right analysis earlier than promoting.
For instance, an knowledgeable vendor can put together your piece on the market and attain consumers prepared to pay greater than merely taking it to an area jewellery retailer or pawn store (there’s a hidden value to pay for comfort).
Many individuals are selecting a platform referred to as Worthy to promote their diamond rings, necklaces, bracelets, and designer watches. This on-line market handles the jewellery promoting course of from begin to end by getting ready your gadgets to promote for high greenback at public sale.
On this Worthy Jewellery Assessment, I’ll present you ways Worthy may help you generate income, cowl the promoting charges, and allow you to know if it’s value sending off your valuables for a hands-free promoting expertise.
Desk of Contents
- What Is Worthy Jewellery?
- How Worthy Works
- 1. Obtain An On-line Estimate
- 2. Ship Your Jewellery to Worthy For Appraisal
- 3. Skilled Grading
- 4. Record Your Merchandise for On-line Public sale
- 6. Get Paid
- Worthy Jewellery Charges
- Is Worthy a Good Place to Promote Jewellery?
- Worthy Jewellery Execs and Cons
- Options to Worthy Jewellery
- FAQs
- Closing Ideas on Worthy Jewellery
What Is Worthy Jewellery?
Worthy is an internet public sale website that makes a speciality of serving to you promote tremendous jewellery. They even clear and put together your precious jewellery on the market at no further value, and also you solely pay successful price in case your merchandise sells. It has been in enterprise since 2011 and has facilitated over $200 million in gross sales.
Promoting single or a number of gadgets by Worthy’s community {of professional} consumers sounds interesting. The service provides return transport should you determine to not promote your merchandise or if Worthy can’t discover a purchaser to fulfill your reserve value.
You possibly can promote the next forms of jewellery on Worthy:
- Diamond jewellery (rings, bracelets, necklaces, earrings made out of gold or platinum)
- Free diamonds
- Designer jewellery (Bvlgari, Cartier, Harry Winston, Tacori, and Tiffany & Co)
- Designer watches (Breitling, Cartier, Omega, Rolex, Tag Heuer, and so forth.)
Watches have to be in correct working situation, though jewellery might be damaged or lacking gadgets as its appraisal worth hinges on the worth and weight of the jewels and treasured metals. Some reviews point out that the minimal estimated promoting value must be a minimum of $1,000.
Worthy just lately launched a platform to purchase ethically-sourced diamond rings.
How Worthy Works
Here’s a step-by-step have a look at how Worthy may help you promote your jewellery.
1. Obtain An On-line Estimate
Step one is to supply Worthy with the essential particulars of the jewellery you want to promote. You’ll reply a number of fast questions, akin to the middle diamond form and carat weight. An internet chatbot can present easy help with evaluating your merchandise.
You’ll want to supply your identify and e-mail to obtain a primary value estimate and to create a free membership account.
2. Ship Your Jewellery to Worthy For Appraisal
After agreeing to the preliminary estimate, you’ll obtain a pay as you go FedEx transport label at no cost house pickup or drop-off at a transport associate. For peace of thoughts, your merchandise is insured as much as $50,000 (pre-approval for added protection is required for high-value gadgets) in opposition to theft or loss throughout transport.
All items are mailed to Worthy’s New York workplace for appraisal and promoting. It’s additionally doable to schedule an appointment to go to the bodily location.
You possibly can view the costs for recently-closed auctions to see how a lot related gadgets are promoting for. Jewellery hardly ever holds its worth or appreciates, so it may be difficult to know exactly how a lot it is going to promote for because it is dependent upon demand and purchaser curiosity.
3. Skilled Grading
After receiving your cargo, Worthy has an impartial grading associate examine your assortment to evaluate its market worth and decide a practical reserve value.
Worthy companions with the Gemological Institute of America (GIA), the Worldwide Gemological Institute (IGI), and the GHI Gemological Laboratory to estimate your jewellery worth. These grading labs are the main diamond appraisers, and their grading reviews are universally acknowledged.
For designer watches, Central Watch will carry out the evaluation.
4. Record Your Merchandise for On-line Public sale
The platform makes use of the grading report back to estimate the potential promoting value and suggest a reserve value. In the event you agree, you get to set the reserve value (it may be greater or decrease than Worthy’s advice), and Worthy hosts an internet public sale lasting 48 hours.
The platform additionally cleans your piece and takes high-definition (HD) glamor pictures to organize your merchandise for public sale. Your public sale itemizing additionally consists of an merchandise description and numerous attributes relating to the metallic and stones.
Over 1,000 skilled trade consumers are invited to put a bid. Like several public sale, the ultimate final result is variable, and you could earn extra if a bidding conflict ensues.
Nevertheless, there are cases when your reserve will not be met. If that’s the case, Worthy offers free return transport with full transport insurance coverage should you don’t settle for the very best bid. There isn’t any penalty for rejecting bids beneath the reserve value.
6. Get Paid
As soon as your merchandise sells, Worthy mails it to the customer and sends you cost minus a most 18% success price.
Your cost strategies embody:
- Financial institution switch (ACH)
- Examine
- PayPal (just for transactions beneath $5,000)
It often takes one to 3 enterprise days to receives a commission by financial institution deposit or PayPal and as much as 5 enterprise days by verify. In the event you promote a number of items concurrently, you’ll obtain a single cost as soon as Worthy settles the transaction with every purchaser.
Worthy Jewellery Charges
Worthy solely makes cash while you make a sale. The platform retains a “success price” from the ultimate public sale worth. The price quantity is dependent upon the merchandise worth:
| Successful Bid Quantity | Success Price |
| $5,000 or much less | 18% |
| $5,001 to $15,000 | 14% |
| $15,001 to $30,000 | 12% |
| $30,000 or extra | 10% |
A flat price of 18% applies for a jewellery field consisting of a minimum of three bought gadgets.
These charges are aggressive with normal public sale premiums however are a tad excessive for lower-priced gadgets the place the vendor premium might be from 10% to fifteen%.
For instance, the ultimate worth charges on eBay are 15% for jewellery gross sales beneath $5,000 and 9% for gross sales over $5,000. Nevertheless, you’re chargeable for discovering a purchaser, transport it, and having to area any purchaser complaints if the merchandise arrives broken or doesn’t meet their expectations.
Is Worthy a Good Place to Promote Jewellery?
Worthy Jewellery makes it simpler to promote precious jewellery at a aggressive value as a number of consumers can compete in your itemizing on a market specializing in luxurious items. In the event you go to an area jewellery retailer, you solely obtain a buyback quote from one outlet, making it more durable to check provides in a well timed trend.
Nevertheless, it’s essential to do not forget that jewelers are bidding in your gadgets, they usually could pay lower than market worth as they should promote it for a revenue to a person. As well as, jewellery hardly ever holds its worth, and receiving lower than you initially paid is usually a robust tablet to swallow.
You possibly can doubtlessly make extra promoting instantly to a different particular person or collector as you bypass the intermediary, however discovering the perfect purchaser might be difficult relying on the place you reside and your private connections. However, for a hands-free promoting course of, Worthy is without doubt one of the greatest.
You can begin by getting an preliminary quote by Worthy earlier than sending off your gadgets. This estimate helps you to assess one of the simplest ways to promote your jewellery and estimate your take-home revenue after paying vendor charges.
Worthy Jewellery Execs and Cons
From my analysis of Worthy, I’ve compiled the next record of professionals and cons:
Execs
- Skilled preparation of your jewellery for public sale
- Devoted service agent
- Free transport and insurance coverage
- Solely pay in case your jewellery sells
- Skilled jewellery consumers bid in your merchandise
Cons
- Might promote beneath authentic estimates
- Jewellery should meet a minimal estimated worth
- Excessive promoting charges
- Should ship your gadgets for grading and promoting
Options to Worthy Jewellery
Earlier than you join with Worthy, I like to recommend testing the next options to make sure you can earn essentially the most cash doable.
Money for Diamonds USA
Money for Diamonds USA offers free preliminary quotes by cellphone, however like Worthy, you will want to ship them your jewellery for an official appraisal. Transport is free, and the platform advertises assured provides inside 24 hours of receiving your parcel.
Your estimate is dependent upon the uncooked worth of the diamonds and every other treasured metals or stones. The resale worth or inventive worth just isn’t taken into consideration. It’s doable to earn extra with this platform than Worthy in case you have broken jewellery or don’t need to assume the chance of a poor-performing public sale.
In the event you settle for the moment buy supply, you may obtain cost by verify or PayPal. Return transport can also be free and totally insured should you determine to promote your jewellery elsewhere.
Abe Mor
Abe Mor is one other respected service based mostly in New York Metropolis that buys and sells tremendous jewellery. You possibly can mail your gadgets freed from cost by FedEx and obtain a proposal inside 48 hours. There aren’t any promoting charges should you settle for the supply, and return transport is free should you reject the supply.
CIRCA
CIRCA buys diamonds and tremendous jewellery in particular person and on-line. Transport is free, and you may obtain an immediate buyback supply. Along with checks or financial institution switch funds, you may earn as much as 20% extra by getting a retailer present card which can be utilized at Blue Nile.
TheRealReal
TheRealReal is an internet luxurious items consignment retailer that may make it easier to fetch a better promoting value as your viewers is particular person customers as an alternative {of professional} consumers. You’re additionally capable of earn extra as you may promote at a set value as an alternative of going into an unpredictable public sale.
You might also think about TheRealReal for gadgets that don’t meet Worthy’s standards. For instance, the appraisal worth is just too low, or the jewellery isn’t made by a qualifying model.
Nevertheless, it might take longer to promote your gadgets as you should watch for an purchaser. The commissions are additionally excessive. For branded tremendous jewellery, the platform retains 30% on gross sales above $750 and as a lot as 80% for gadgets beneath $100.
FAQs
Worthy is a secure place to promote diamond jewellery and different designer manufacturers with gold or platinum. Transport is free, the charges are clear, and the employees maintains frequent communication through the promoting course of that can assist you simply promote your jewellery for essentially the most cash.
Essentially the most vital disadvantage is that your gadgets promote at public sale. Listings with minimal curiosity are much less prone to have excessive bidding quantities. Because of this, it’s doable that you could be not earn as a lot as you hoped in comparison with a fixed-price supply.
Worthy Jewellery makes a speciality of diamond rings, necklaces, bracelets and earrings. You can even promote free diamonds and branded luxurious watches. All eligible gadgets promote throughout a 48-hour public sale.
Telephone assist and stay chat can be found. Additionally, you will have a devoted advisor that may help with pricing your jewellery and getting ready it for public sale.
Closing Ideas on Worthy Jewellery
Worthy is a legit and straightforward option to promote your precious diamond jewellery. It’s clear pricing, good buyer assist, and free transport make promoting your jewellery on-line much less dangerous and costly. Nevertheless, you don’t know the way a lot you’ll earn from an public sale, and selecting a purchaser with an immediate buyback supply could be higher if you would like assured cost.
Worthy
Strengths
- Professionally prepares your jewellery for public sale
- Devoted service agent
- Free transport and insurance coverage
- Solely pay charges in case your jewellery sells
- Skilled jewellery consumers bid in your merchandise
Weaknesses
- Might promote beneath authentic estimates
- Excessive estimated promoting worth to qualify
- Excessive promoting charges
- Should ship your gadgets for grading and promoting