How To Auction Your Pieces Of Jewelry

Jewelry never cannot give you that touch of luxury you’re looking for in your life. After all, with how much it’s styled to exude elegance, including jewelry, in your aesthetics might be the only thing missing to bring your sense of fashion together. And, considering how they’re all designed with elegance in mind, the effort put into creating jewelry pieces should be well worth the price, that’s for certain.

How To Auction Your Pieces Of Jewelry

However, as valuable as it is to your aesthetics, jewelry also carries a hefty price tag. As long as you’ve bought it from a legitimate jewelry shop, your piece of jewelry is guaranteed to be a small investment. Therefore, once you need money the most, deciding to sell your jewelry is the smartest move you can make. Now, you might wonder how you’re supposed to go about selling your piece of jewelry. Well, one thing you can do is auction it.

What Is An Auction?

An auction is a system that will show a product to the audience. During this presentation, the bidder offers the product to them at a low base price. From there, people may compete against each other by offering their own bids until each one gets higher than the last. Once the price gets high enough for other bidders to concede, only then will the bidder for the highest price be able to take possession of it. With that, the auction is complete

Considering how priceless jewelry pieces are, putting them on auction is highly recommended. Because not only can you sell your jewelry, but you’re also engaging with your audience to know just how interested they are in your pieces. Furthermore, it builds a sense of camaraderie between you as a seller and your buyers, which could solidify their continued loyalty to your products. 

However, before you decide to hit Clars Auction House or other auction houses right away, you first need to know what to do to put your jewelry up in the marketplace.

• Know Its Value

Setting the base price for your piece of jewelry is tricky, especially without a frame of reference. Since you want the base price to be low enough to attract the audience, having the price range where you benefit should be a safe zone. However, considering how jewelry holds value based on its authenticity, you alone can’t set a price without receiving backlash from your audience.

Jewelry appraisals should be high on your list of priorities when planning on putting your jewelry up for auction. Through appraisals, you’ll have a certified professional draw out your jewelry’s retail price. And, since they’re certified, they’ll be able to point out different qualities that contribute to the price, proving you’re selling a genuine diamond or your metals are completely authentic.

However, selling damaged pieces of jewelry isn’t out of the question, especially if they’re already old. Fortunately, style isn’t the only factor contributing to the piece’s value. Its meltability is also worth noting since precious metals remain valuable, regardless of age or damage. Therefore, you need to look up different policies about it before proceeding.

• Consider An Online Auction

Since it’s rare for people to stay away from the Internet nowadays, turning to an online platform could be wise. Having a wider audience to reach out to is most likely what you’d want to gather more engagement with your product. And, because the Internet has a lot of online platforms for that purpose alone, you can reach a broader population instead of limiting yourself to the locals.

But, in exchange for more engagements, you’ll be much more susceptible to fraudulent offers. So, ensure you’re well-read about the platform’s rules and regulations about those kinds of issues. If they don’t align with your security, there are always more authentic bidding websites on the Internet.

• Choose The Right Auction House

Although you’re the one with the product, that doesn’t mean it’s in your hands to organize the entire auction. After all, presenting one’s product can be extremely taxing, especially if you have no expertise in marketing. Because to attract a big audience, you need to know what exactly ‘tickles their fancy’ where you’re selling your jewelry.

Expert auction houses can easily help you with advertising your pieces of jewelry. From taking attractive photoshoots to writing engaging descriptions, whatever auction house you choose should be the best to hand over the spotlight to your jewelry. Because without their help, there’s little exposure to your product. And ,that exposure will improve your chances of selling your jewelry pieces at an agreeable price.

• Check The Commission Fees

Since you’re handing over the reins to your selected auction house, it’s only fair you pay their commission fee. But, besides that, auction houses might have different policies about their fees. So, ensure you ask them about their flat fees or what amount their percentage is. This way, you can include them in your calculations for how much you’ll get.

Takeaway

Jewelry is a luxury only a few can afford. Because not only is the design timeless, but the value poured into its labor and materials is worth every penny. And, with high-quality craftsmanship bringing it all together, you will look like a million bucks. However, since they’re high quality, your pieces of jewelry also make for an excellent investment. Therefore, you can sell them for a great price, and you can do this through auction.