Top 5 reasons to sell your jewellery at auction in 2024

In 2024 prices of gold has soared and the jewellery market is experiencing an unprecedented surge. There has never been a better time to sell your unwanted jewellery. So, how to sell your jewellery to get the best value?

Traditionally, people have explored various avenues to sell their jewellery, including:

• High street jewellers

• Pawn shops

• Online marketplaces

• Online and/or live auctions

• Bullion dealers

• Private sales

However, one option stands out as particularly promising in 2024: selling your jewellery at auction.

Why are auctions the best place to sell your jewellery in 2024?

Auctions offer a unique blend of benefits that other selling methods simply can't match. Let's dive into the top five reasons why you should consider selling your jewellery in auction.

1. Maximise your returns: the power of competitive bidding

When you sell your jewellery at auction, you're not just selling to one buyer - you're selling it to a room full of eager collectors and investors.

How auctions drive up prices

The competitive nature of auctions can lead to bidding wars, potentially driving the price of your jewellery far beyond your expectations. It's not uncommon for items to sell for several times their estimate, especially if they are rare or in high demand.

Auctions vs pawn shops or bullion shops: different business models

While pawn shops and bullion dealers offer quick cash, they typically pay well below market value. Their business model relies on buying as low as possible and selling as high as possible. In auctions, on the other hand, the seller’s interests are aligned with the auction houses as the auction house is only taking a commission on the sale. A higher price means a higher commission for the auction house, so the auction house will do what it can to sell your jewellery as high as possible.

2. Reach a global audience: sell your jewellery to a worldwide audience

In today's interconnected world, your potential buyer could be anywhere on the globe.

The rise of online auctions

The digital revolution has transformed the auction landscape. Online auctions allow bidders from around the world to participate, vastly expanding the potential market for your jewellery. This global reach can significantly increase competition and, consequently, the final selling price. It’s important to sell your jewellery with an auction house that values global reach and uses as many international aggregator sites as possible, such as Invaluable, The Saleroom (UK), Live Auctioneers (US) and Lottissimo (EU).

How international buyers increase demand

Different cultures value different styles of jewellery. By reaching an international audience, you're more likely to find buyers who particularly appreciate your jewellery. For instance, a vintage art deco ring might fetch a higher price from an American collector, while an antique jade pendant could be highly sought after by Asian buyers.

3. Benefit from expert valuation and marketing

When you sell your jewellery with an auction house, you're not just gaining access to potential buyers - you're tapping into a wealth of expertise.

The role of professional appraisers

Auction houses employ expert appraisers who can accurately assess the value of your jewellery. They consider factors like materials, craftsmanship, rarity, and market trends to provide a fair and realistic valuation. This expertise ensures that your pieces are priced appropriately, maximising your potential returns.

Showcase your jewellery: professional cataloguing and photography

Auction houses invest in high-quality photography and detailed cataloguing to present your jewellery in the best possible light. This professional presentation can significantly enhance the appeal of your jewellery, which leads to selling your jewellery for the highest possible price.

Marketing strategies that attract serious buyers

From glossy catalogues to targeted online advertising, auction houses employ sophisticated marketing strategies to attract wealthy retail buyers, serious collectors and high net worth investors. This focused approach ensures that your jewellery reaches the eyes of those most likely to bid competitively. This leads to selling your jewellery for the best results in auction.

4. Enjoy transparency and security in selling your jewellery in auction

Selling valuable pieces of jewellery can be nerve-wracking, but auctions offer a level of transparency and security that's hard to match.

Understanding the auction process

Auctions follow a clear and structured process. From consignment to final sale, you'll be kept informed at every stage and if you have chosen a good auction house they will be professional and treat you with respect, even when you feel anxious and nervous. This transparency gives you peace of mind and allows you to relax throughout the process.

Comparing risks: auctions vs private sales

While private sales might seem tempting, they come with risks. Meeting strangers, sometimes handling cash, and navigating complex negotiations can be stressful and potentially dangerous. Auctions eliminate these risks, providing a secure, professional environment for your transaction.

5. Tap into niche markets: specialised auctions for unique pieces

Not all jewellery is created equal, and auctions recognise this by offering specialised sales for different types of jewellery.

Selling vintage and antique jewellery: finding the right buyers

If you're looking to sell vintage jewellery, specialist auctions can connect you with collectors who truly appreciate the history and craftsmanship of older pieces. These buyers are often willing to pay premium prices for well-preserved, authentic items.

Selling designer pieces: leveraging brand power

For those with designer jewellery to sell, brand-specific auctions can be incredibly lucrative. Whether you're selling Tiffany, Cartier, or other high-end brands, these specialised sales attract wealthy retail buyers who are specifically looking to buy luxury designer jewellery.

Themed auctions: maximising interest in specific collections

Many auction houses host themed sales, focusing on specific eras, styles, or materials. Curated jewellery auctions can generate intense interest among jewellery collectors, potentially driving up prices for your jewellery.

Ready to sell your jewellery at auction? Here's how to get started

If you're convinced that selling your jewellery at auction is the right choice for you, here's what you need to know to get started.

Choosing the right auction house for your jewellery

Marylebone Auctions is a specialist jewellery auction house based in Central London. All our auctions are listed on more auction aggregator sites than any other jewellery auction houses including the largest ones in the market Christies and Sotheby's. Our client base is truly international and we only work with London’s best appraisers.

What to expect: the consignment process explained

Once you've chosen an auction house, you'll go through the consignment process. This typically involves an initial valuation, agreeing on reserve prices for very special items (if any), signing a consignment agreement, and handing over your items for cataloguing and photography. Gather any documentation you have, such as certificates of authenticity or original receipts, as these can add value. Any provenance (record of previous owners) worth mentioning could add value too.

Conclusion: why 2024 is the year to sell your jewellery at auction

With precious metal prices at record highs and a global market of eager buyers at your fingertips, 2024 presents an unparalleled opportunity to sell your unwanted jewellery. Auctions offer the perfect blend of expert valuation, global reach, competitive bidding, and secure transactions to ensure you get the best possible price for your precious pieces.

Whether you're looking to sell vintage or designer jewellery, auctions provide a platform to showcase your items to the most interested and motivated buyers. By tapping into the power of auctions, you're not just selling your jewellery - you're giving it the opportunity to find a new home where it will be truly appreciated.

So, if you've been wondering about the best place to sell jewellery near you, or pondering how to sell your jewellery online, consider the auction route. It might just be the golden ticket to turning your unwanted jewellery into a tidy profit.