Do you have any jewelry that you no longer want? Well, one way to get rid of it, and make some money at the same time, is jewelry consignment.
Are you an artist who creates jewelry and you’re looking for an outlet for your work? Selling on consignment might be a strategic way to access the customers you need with less effort.
But what does jewelry consignment entail, and how much can you expect to make? We cover the basics below.
What Is Jewelry Consignment, and How Does It Work?
Selling your jewelry on consignment basically means that you hand the pieces over to a shop that specializes in jewelry.
First, the store will professionally appraise the items to determine an appropriate price. Then, once the sale is made, they’ll take a commission for themselves and give you the rest of the money earned from that sale.
For example, you might give your jewelry to a consignment shop that will then work on displaying it, promoting it, and selling it to the public at a brick-and-mortar location or online. When your jewelry is sold, they might give you 60% of the sale price, while keeping 40%. However, percentages vary from one consignment shop to another, so you might be able to find shops that give you an even greater percentage of every sale.
What’s nice about consignment, particularly when compared to selling a piece of jewelry to an industry pro, is the fact that your item will be sold to the public, so you might end up making more money that way.
Things to Consider When Consigning Jewelry
If you’ve decided that consignment is the direction that you’d like to go in to sell your jewelry, that’s wonderful! But don’t just consign to the first shop that you find. Instead, take your time and carefully analyze your options so you can choose the one that will help you get the quickest sale at the right commission.
- Do your best to match your jewelry to the right shop where customers will actually be attracted to your items. This can help boost the odds of the pieces selling quickly.
- Think about how much money you’d like to make, at a minimum, from the sale of your jewelry. And, in addition to the percentage of the sale that you’ll receive, ask if there are any other fees that you’ll need to cover as well, as those will cut into your profits too.
- It’s also wise to ask a seller what they’ll do if they can’t sell your jewelry. Yes, it’s true that some pieces never sell. And some pieces might take an extended amount of time to sell, so you really need to be patient.
- If the shop does make a sale, how long will it take for you to get your payment? Will you need to wait a long stretch of time or will they pay you right away?
- Don’t let money be the only factor in your decision making process. Sure, you’ll want to get a good percentage of the sale and you’ll want to be paid promptly, but it’s also best to go with a profitable store that has a strong history and a stellar reputation. And, of course, you need to trust them!
Consign Your Jewelry to DazzleMe!
Whether you have vintage jewelry, contemporary pieces, or anything in between, DazzleMe is a great place to go whenever you’re ready to consign jewelry. Every product that you see in the shop has been examined by an expert jeweler and priced to sell quickly, so you can make your money sooner rather than later. Simply find the nearest brick-and-mortar location to start consigning directly.
Overall, consignment can be an effective and convenient way to sell jewelry. Just let the shop do all of the hard work of selling the products for you while you sit back and relax until your share of the profits arrives.
Sources:
https://jewelrymakingjournal.com/jewelry-consignment-percentage/
https://www.wpdiamonds.com/selling-diamonds-jewelry-consignment/
