Selling your designer items and luxury goods is an excellent way to recoup some of the costs of having good taste. For those who love to keep up with trends and always wear the latest, it’s a way to tone down lifestyle creep and keep control of their budget. Others may have inherited luxury goods or heirlooms and may not know the value of what they have at all.
The secret to making more money when you sell items like these is knowing what you have and the best place to sell it.
Gold jewellery, silver jewellery, silver tea sets and other collectibles are great examples of luxury items that can be turned into quick cash, but it pays to be careful. Much of the time, old jewellery or broken items can be sold to gold dealers who will have it melted down for its precious metals content. This is for items where the design itself doesn’t have much of a resale value.
However, if you’re selling the right designer brand or a real antique piece, you can get more for it by finding the right collector. The problem is knowing when your unwanted jewellery is the real deal and when you should take the best offer for the bullion content. It can be a challenge for individuals to weigh the true value of pieces that may carry sentimental value or that were inherited. It’s easy to over-estimate the value of inherited pieces based on false assumptions.
If you have designer jewellery that you think really is worth something, you should take the piece to jewellery buyers like Muzeum who offer more than your average cash-for-gold business. They have an extensive database of collectors and have a good idea of what pieces collectors are looking for and what they’ll pay. Brand names to look out for include Cartier, Tiffany & Co., Van Cleef & Arpels, and others.
2. Collectible Coins
Like jewellery, collectible coins can be valuable just because they are made from gold or silver, but the right piece can be worth far more. Unless you’re an expert, it’s hard to know whether those old silver coins are just junk silver that will only be melted down or rare historical coins that can go for a lot more if you find the right buyer.
Take your coin collection to a numismatist who can evaluate the rarity and condition of your coins. They can help you determine your expectations and offer a better price because they know collectors who would be interested.
3. Designer Bags
The world of designer bags can be a lucrative one. High-end bags can go for a lot of money, and some can even be worth more than what you paid for them. Before you sell a designer bag, make sure you have these ready:
- The box, dust bag, and receipt to prove its authenticity.
- Attractive photos from multiple angles.
- A plan for tracking and insurance.
- A reputable, well-known consignment site.
The key to finding the best deal for luxury bags and designer clothes is finding a good resale site where you can reach a wide audience and sell on consignment.
Earn more money when you resell luxury items by learning more about what you have.
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