Selling your precious metal jewelry can often be a tough decision. You don’t know where to start or how much money you should expect from the sale. This is a guide to methods of selling your precious platinum jewelry and the price that you should expect to receive.
Methods of Selling Platinum Jewelry
Like selling any other precious metal, there are a lot of options out there. Any buyer and liquidator of gold jewelry will probably be interested in purchasing any other precious metal, including platinum.
Mail order companies advertising that they buy gold will most likely be interested in your platinum as well. Although these options are proven to yield a mediocre income off the sale of your platinum, they are often very convenient. You contact the company, they send you a pre-paid mailer for your jewelry, you mail it back and within 6 weeks they send you a check for your platinum jewelry. The process is simple.
You can also bring platinum to a pawn shop for a quick sale. Pawn shops often offer about 50% or more of the value of platinum and you can take money home the same day. It is important that you bring with you some proof of ownership, as this method is used by sellers that have acquired platinum in roundabout ways. If you have proof of ownership, you may be entitled to a higher paid amount for the sale.
Selling platinum to a jeweler with a proven track record is another option. This includes pawn shops that staff jewelers and those with jewelry appraisal experience. Professional appraisers are willing to work with you to offer you up to 85% of the current market value of the platinum and any precious gemstones that may be involved.
In August, 2012, the price of platinum is roughly $1398 per ounce on the market. If you’re selling to a trusted buyer, you can expect to receive about 70-85% of the value, or $979-$1200 per ounce. An ounce of jewelry weighs 28.5 grams—the heavier the piece the more money you’ll yield from the sale.
Checking out the potential buyer online before selling to them should give you a good idea about the prices they commonly offer. Researching buyers is the best way to keep from getting ripped off and to fully benefit from selling your old platinum jewelry.
Related articles
