Do you have old or broken necklaces, rings, earrings, bracelets, or luxury watches that you never wear lying around the house? Now could be a great time to sell them.
Gold prices have broken records in 2024 and the value of precious metals is high. It’s a great time to capitalize on the value of your jewellery.
Naturally, you want to make as much as you can with your jewellery. There are two ways to do this:
- Find a time when gold prices are high, such as right now.
- Go to a jewellery buyer like Muzeum that uses an X-Ray Fluorescence machine to get an accurate breakdown of the composition of your jewellery before making an offer.
If the price of gold alone isn’t enough to move you to action, these are some of the best reasons to take your collection to jewellery buyers and start getting some quotes.
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#1 Make Room for Jewellery You’ll Actually Wear
Did you know that decluttering can actually help you destress? Decluttering your space can create a more calming environment, improving your mood and your ability to concentrate.
Cleaning out your jewellery drawers can also make space for new pieces. Jewellery comes in and out of fashion, and yesterday’s styles just may not be worth wearing out anymore. Today, styles like layered necklaces and black gold are trending.
Selling old jewellery can also help offset the cost of updating your collection to make it more up-to-date.
#2 Earn Money to Pay Off Debts
Your jewellery collection can be a valuable source of extra cash. Paying off debt is an excellent way to take back control of your financial health and prepare yourself for long-term success.
Getting stuck in the debt trap can be challenging. Interest eats up your monthly payments, and it’s hard to make any headway.
Spending the proceeds you earn from selling jewellery can help you put a large lump sum toward those debts, making instant progress.
#3 Recycle Precious Metals
When you sell your jewellery, not only are you making some extra money, but you’re also recycling. The mining industry is a major source of global emissions, accounting for anywhere from 4-7%. By recycling your precious metals, you’re putting gold and silver back into the supply chain without new metals having to be unearthed. It’s an eco-friendly way to dispose of jewellery that you don’t wear anymore.
#4 Invest and Grow the Proceeds
Keeping money locked away in the form of gold and silver can be a wise investment in the form of bullion or an ETF, but only so much of your portfolio should be dedicated to it.
When it comes to jewellery, heirloom, and luxury watches, the value locked away in these goods can be much better put to use in an investment that generates income like bonds or dividend stocks.
Selling your jewellery collection can bring a much-needed cash influx into your investments and provide your portfolio with a steady source of income.
Instead of leaving money lying around the house, put your money to work for you.
