Perhaps you’re making an attempt to promote your previous marriage ceremony ring to make some fast money. Or maybe you have got a Rolex that’s simply gathering mud in a drawer someplace.
Regardless of the case, promoting valuables like diamond jewellery and luxurious watches isn’t at all times easy. Between getting an appraisal and discovering patrons, you possibly can spend weeks or months making an attempt to promote. And should you promote with out an appraisal, you run the chance of not getting a good value.
However with Worthy, you get a easy gross sales course of and truthful market worth to your diamond jewellery and luxurious watches. Worthy is an effective choice if you wish to take care of skilled jewellery patrons as an alternative of that shady pawn store down the road.
Key Options of Worthy
Worthy is a web based jewellery and watch reseller that started in 2014 and operates out of New York Metropolis’s Diamond District.
The corporate enables you to promote jewellery by way of its auction-based system, together with:
- Engagement rings
- Diamond marriage ceremony rings
- Unfastened diamonds (0.5-carat diamond minimal)
- Diamond necklaces or bracelets
- Diamond earrings
- Luxurious watches (similar to Rolex, Breitling, and Bulgari)
Worthy’s staff is with you each step of the best way, from evaluating and certifying your jewellery to serving to you with the public sale course of. In alternate, Worthy prices charges based mostly on the successful bid quantity. This success price ranges from 10% to 18%,relying on the ultimate sale value.
General, it’s a easy and secure approach to promote your jewellery on-line. Worthy says it usually takes 10 to 14 enterprise days to promote your merchandise and receives a commission after a bit arrives at its headquarters.
And it has numerous options that probably make it extra worthwhile than promoting solo or going to a pawn store.
Promote Numerous Diamond Jewellery & Luxurious Watches
Diamond rings are a preferred class on Worthy, which is smart since individuals usually promote their engagement rings following divorce.
However Worthy helps greater than engagement ring gross sales. For watches alone, you possibly can promote over 25 manufacturers, together with Bulgari, Cartier, Patek Philippe, Piaget, and Rolex. And you may promote in classes like bracelets, earrings, necklaces, and rings with or with out treasured stones.
Worthy has numerous diamond grading necessities and particular kinds of jewellery it’s on the lookout for. However if in case you have a diamond or helpful piece of gemstone or luxurious jewellery, there’s probability you possibly can resell it.
Begin the Worthy Presale Course of Previous to Delivery Your Jewellery
After navigating to Worthy.com, use the web instrument to pick out the jewellery classes you want and add pictures of every piece. Then, schedule a name with an account supervisor to go over your items and any questions you or Worthy’s staff have.
I had a name with a Worthy consultant after importing pictures of a diamond necklace. The web site let me schedule a name that day, and the consultant I spoke to was extremely pleasant and defined extra in regards to the gross sales course of, charges, and delivery. Once I instructed them I wanted extra time to consider the sale, they despatched me an e-mail with all the knowledge we had mentioned and instructed me to take my time.
Observe that the extra info you present, the higher. Which means importing as many pictures as attainable, together with any certification paperwork or appraisal papers you have got. You also needs to submit pictures of various angles of your items, particularly for watches — the again usually has info like a mannequin quantity.
In the event you give sufficient info, Worthy’s typically in a position to provide a tough estimate for the perfect value you possibly can count on. Moreover, it usually appears for items value $1,000 or extra.
Delivery Your Jewellery to Worthy
If Worthy needs your items following the decision, you ship them to its headquarters. You get a pay as you go delivery label and both schedule a FedEx pickup or drop off your bundle at a FedEx location.
As soon as it arrives, Worthy inspects and cleans your items to get them prepared for public sale. The staff additionally does a high-definition photograph shoot to advertise your jewellery.
Lastly, Worthy supplies a free grading report to your items. It companions with labs specializing in diamond analysis, such because the Gemological Institute of America, the Worldwide Gemological Institute, and GHI Gemological Laboratory. As for watches, it companions with Central Look ahead to gradings and evaluations.
You get a grading report even when you have already got one. However having this info is essential because it helps patrons perceive extra about your diamonds and items. It additionally helps each events attain a good value.
Public sale On-line to Skilled Consumers
Worthy enables you to set your personal reserve value, which is the bottom value you’re prepared to promote your jewellery for. Your public sale supervisor helps clarify the method and suggests a reserve value based mostly on the standard of your items.
Worthy’s auctions usually final 48 hours and happen completely on-line. The corporate works with over 1,000 skilled diamond and jewellery patrons, so that you’re promoting to trade consultants prepared to pay value for high quality items. That’s a lot completely different from haggling with an area jeweler or promoting used diamonds on Craigslist, the place you’re most likely not coping with professionals and may encounter scams.
Like all public sale, patrons can outbid each other, serving to you get the next value. If somebody meets or surpasses your reserve value, it’s a binding bid. Which means you have to promote your items to the client on the finish of the public sale and may’t ask for them again.
If nobody meets your reserve value, you possibly can both settle for the very best bid or have Worthy return your jewellery without spending a dime.
Pay Worthy’s Clear Charges
Worthy prices charges following a profitable public sale. Charges are a proportion of the successful bid and depend upon the sale quantity:
- As much as $5,000: 18% price
- $5,001 to $15,000: 14% price
- $15,501 to $30,000: 12% price
- $30,001 and above: 10% price
You can too promote a number of gadgets by way of Worthy’s Jewellery Field program, and this class has an 18% fastened price whatever the remaining sale worth.
General, Worthy charges take an honest proportion of your earnings. Nonetheless, you’re additionally promoting to professionals by way of an public sale, and you’re employed with an account supervisor to set a good reserve value. With different corporations, you could not have the ability to discover patrons who’re prepared to pay market worth.
For instance, Circa buys straight from you and pays lower than the piece is value so it will probably resell it and switch a revenue. And The RealReal is a consignment store, so you possibly can solely get what it’s value to the individuals shopping for it, which can or will not be market value.
Once you evaluate promoting your diamonds with Worthy to haggling with strangers and possibly getting ripped off on Craigslist or the Facebook Marketplace, the charges appear cheap. That’s very true should you don’t know what your jewellery is value.
Get Funds Quick
Worthy funds course of inside one to 5 days following a profitable public sale. There are three completely different cost strategies:
- PayPal: One to 2 enterprise days; not for gross sales exceeding $5,000
- Test: 4 to 5 enterprise days
- Financial institution Switch (ACH): Two to a few enterprise days
Worthy typically verifies cost info over the cellphone following the public sale, which delays getting paid. However on common, you receives a commission inside a number of weeks from while you ship your items to Worthy.
Profit From Worthy’s Customized Buyer Help
One perk of promoting your diamond jewellery by way of Worthy is the stellar buyer help you get alongside the best way. It begins with the cellphone name you have got along with your account supervisor to go over your items and questions.
Once I had my name with Worthy, the consultant defined all the promoting course of. Additionally they answered all my delivery and insurance coverage questions and instructed me I may name or e-mail them with any further questions. General, it was a constructive expertise, and the entire course of took 10 minutes.
The truth that you get an public sale supervisor who helps you set a good reserve value and handle the public sale can be a bonus.
However you don’t must submit items on the market to contact Worthy. You can too attain Worthy buyer help at 888-222–0208, Monday by way of Friday from 10am to 8pm Japanese. Alternatively, you possibly can ship a message on its contact web page to ask for a name again or with any query you have got.
The corporate additionally has a 4.8-star score on Trustpilot with 1000’s of opinions. There are some unfavorable buyer opinions. However complaints usually stem from individuals being sad with the ultimate public sale costs or from sluggish returns for items, which can be exterior Worthy’s management.
Get Peace of Thoughts With Insurance coverage & Safety
Shipments shipped to Worthy have insurance coverage by insurers at Lloyd’s of London, and items rise up to $50,000 in protection. Items value greater than $50,000 can obtain further protection with preapproval from Worthy at its discretion.
As soon as Worthy receives your items, it inspects them and supplies an “anticipated worth vary” it believes is truthful based mostly on present market worth. You then set a reserve value utilizing this info or set the next one should you favor.
If it rejects your items as a result of they don’t meet high quality requirements or should you reject a successful bid that’s decrease than your reserve value, Worthy ships your items again to you without spending a dime.
Benefits of Promoting With Worthy
It may be powerful to resolve whether or not to promote an previous engagement ring or bridal set. However Worthy guides you thru each step and connects you with skilled patrons prepared to pay a good value to your items. There are additionally a number of benefits to promoting with Worthy:
- Jewellery Selection. You may promote a wide range of jewellery, watches, and even free diamonds. And jewellery doesn’t must be value tens of 1000’s of {dollars} to be eligible.
- Grading System. Free grading in your items helps you discover a truthful value and helps patrons make choices.
- Buyer Service: Worthy takes care of all the pieces, from jewellery cleansing and product pictures to working auctions. You additionally get an intro name and devoted public sale supervisor to stroll you thru promoting.
- Fee Pace: Worthy pays you inside a number of days following a profitable public sale. And all the course of may solely take two or three weeks, relying on when your items attain its New York workplace. The pliability to decide on between PayPal cash or direct funds can be a pleasant perk if in case you have a choice.
Disadvantages of Promoting to Worthy
In the event you need assistance promoting jewellery and watches, Worthy is likely one of the finest corporations to make use of. Nonetheless, you pay a premium for stellar buyer help, and there are some downsides to think about.
- Public sale Charges. Worthy helps you get a good value to your diamond jewellery and watches. It additionally quickens the promoting course of with its community {of professional} patrons. However this comfort comes at a price because you pay as much as 18% in charges.
- Returns. If Worthy rejects your items otherwise you decline the very best bid above your reserve value, it ships items again to you without spending a dime. Nonetheless, returns could take as much as two weeks to be processed and shipped again.
- Worth Requirement. Whereas it doesn’t state this on its web site, the Worthy consultant I spoke to stated there’s a common $1,000 requirement for items you’re promoting. In the event you’re promoting cheaper jewellery, Mercari or Etsy (for classic items) is likely to be higher options.
How Worthy Stacks Up
Worthy gives a easy approach to promote jewellery and watches, and its customer support is considered one of its strengths. Nevertheless it’s far out of your solely choice, and rivals like Circa have a completely completely different promoting course of than a web based public sale.
| Worthy | Circa | |
| Accepted Items | Diamond jewellery, nice jewellery, luxurious watches | Diamond jewellery, nice jewellery, luxurious watches |
| Charges | 10% to 18% | No charges, however pays beneath market worth |
| Promoting Choices | On-line public sale | In-person or on-line direct sale |
| Delivery Prices | Free delivery and returns | Free delivery and returns |
| Funds | PayPal, verify, or financial institution switch | Test, money, financial institution switch, or a present card to Blue Nile or Circa |
Closing Phrase
There aren’t many asset courses you possibly can promote in a brief period of time to doubtlessly make 1000’s of {dollars}. However relating to nice jewellery and luxurious watches, you’re coping with timeless various belongings which have numerous worth.
Nonetheless, while you take care of expensive goods, it’s very important you do your due diligence and know the true worth of your items so that you don’t get ripped off. That’s why corporations like Worthy exist, and regardless that you pay charges for its companies, you additionally know you’re getting a good value.