The right source, or buyer, for your sterling silver varies depending on a few different factors. There is no one “right” seller, because every piece and each person’s situation is unique. As long as you find a buyer you can trust, that pays you the best price according to your research, you can consider your transaction a success and move on to planning what you want to do with the proceeds. The following can shed a bit of insight on different selling situations, and the buyers that make sense under those circumstances, to help you decide which type of buyer is best for you.
Exercise caution when you start out investigating a buyer for your sterling silver. Be prepared to do some footwork, especially if you want to get the most money for your sterling items. Many people find that there is a relationship between the amount of time and effort they can put into selling their sterling silver items and the amount of money they receive from buyers. The “work” involves using price guides and internet research to estimate the selling price of your pieces or similar items, and examining each of your pieces to verify that they are, in fact, sterling silver. Locating the manufacturer of your pieces can help as well. If you are in a hurry, do a quick check for similar items on auction sites such as eBay and look at the selling prices and condition of the items as compared to yours.
Try to avoid waiting until an emergency happens before selling your silver. If you find yourself in a position where you need funds for an emergency, you might receive less money than if you had the time to shop your items around and wait for the right price. At the very least, research your pieces ahead of time, so that if an emergency does come up, you already know what price range to expect which will help you negotiate better with buyers. You must make sure that the buyer you choose conducts their business ethically. Many people lose money from unscrupulous buyers that tell a good story, and make up reasons to give them much less cash than they deserve for their silver items. The first place many people think of when they have a cash emergency is the local pawn shop, and this is probably where you will get the least amount of money for your sterling silver.
Find dealers that specialize in the type of items you have to sell. If your sterling silver is antique, part of a patterned set, such as flatware or produced by a high-end manufacturer such as Tiffany, you will receive a higher price for your pieces by working with a dealer that can match you with private buyers looking for your types of sterling items. These buyers will pay more than just the value of the sterling, because the item’s age, pattern or manufacturer could add more value, especially if the piece is rare. It might also be a missing piece that completes their collection. Additionally, consider auctioning your pieces. This is the best way to find collectors that might pay top dollar for your sterling silver pieces. Do your research by looking at items on eBay that are as comparable with your item as possible. Also investigate live auctions, especially if you have a large number of pieces you want to sell.
Successfully selling your sterling silver to the right source does not need to be complicated or difficult. in fact, you might find that the easiest way to do it is by bringing your sterling pieces into a gold and silver buyer, and having the staff weigh your items and give you a quote. If you take your silver items to several shops in your area, you could have several quotes to compare, and even walk away with cash the very same day. If you are located in New Jersey, we have over 13 stores that can provide you with a quote and because we want your business, we guarantee we will beat anyone else’s quote. If you do not live in New Jersey, visit our road show listing and see when we will be in your area, as we operate shows across the nation. Finding the right buyer for your sterling silver does take some work, but you will be rewarded with new-found money that can be put to many good uses — so, what are you waiting for?