As the new year rolls along, many of us are hoping to earn additional income by selling valuables we’ve maybe held onto for years, or decades. Considering the price of silver, selling your silver jewellery is an excellent way to see a boost to your savings.
In this post, we’re helping those looking for the best place to sell silver by warning against online sales. Instead, we’re championing in-person transactions. Even though it might seem convenient to do as much as possible on the internet, it can pay (in cash, time, and satisfaction) to look for that human touch.
The Perks of the Online Marketplace
We aren’t saying selling online is a total disaster (if it was, you wouldn’t need this post). In fact, there are several benefits to buying and selling jewellery online. Here are a few pros:
- For one, online platforms grant access to a worldwide customer base, allowing you to reach buyers across different regions.
- Your listings are available around the clock, meaning customers can browse and purchase your silver whenever it suits them.
- Some online platforms and channels come with sophisticated algorithmic tools that can allow you to reach specific buyers and drive targeted traffic to your posts.
- Likewise, better platforms will also handle processing and payments, or provide shipping labels, tracking and insurance.
That’s where the good times end, however. Let’s look at what can go wrong.
Stiff Competition
Have you ever searched for silver jewellery on the internet? You could spend a lifetime sifting through the results. The online marketplace is vast, extraordinarily competitive, and dense with posts and markets. It’s a true challenge to stand out among countless other sellers and draw attention to your offerings, and managing an online business requires understanding tools and platforms. For some, it’s too steep of a learning curve to set up and optimize sales channels.
Ultimately, while the internet seems like it will save you time, it will ultimately cost you so much more than selling in person. Bringing your jewellery to a brick-and-mortar buyer cuts through all this competition and puts you into an immediate conversation with a professional.
Iffy Security
Online transactions are always susceptible to fraud. Networking sniffing tools can intercept your financial and personal information. Data breaches happen even to companies that champion, and invest millions into, security. How robust are your payment systems and how savvy are you with accepting payments for shipped goods online?
Heading into a physical storefront with your silver jewellery will give you the peace of mind that comes with security as well as safe and immediate transaction methods.
Low Trust and Dodgy Accuracy
Without the ability to verify the quality of your jewellery in person, potential buyers may be hesitant, and for good reason. Photos and detailed descriptions can’t compete with viewing and holding an item in person, and it’s easy to over- or understate the quality, condition or value of silver. Again, this will slow you down. In-person evaluations from true professionals (usually working at physical, permanent storefront locations) will avoid this delay.
Crucially, professional evaluations can also net you a higher return if you’re the one who’s unsure of the value of your silver. It’s easy to be bamboozled (by low interest, lack of attention, negative talk, or duplicitous figures) into selling for too little. A brick-and-mortar silver buyer will instead work with you to get you the highest price possible.
High Overhead
Operating online, you may have to pay to list your jewellery online or cover transaction fees and commissions. You’ll also have to spend to package, ship and track your delivery. Secure, longstanding silver buyers who offer in-person evaluations do so totally free of charge. After their review, they’ll offer you a price based on real-time market rates. If you’re happy, you get paid. This is the far better option for those hoping to maximize their profits.
To wrap things up, while online platforms can be highly effective for selling silver jewellery due to their reach and convenience, you’re going to have to navigate significant challenges, including stiff competition, security issues, low trust, dodge accuracy, and beyond.
Take your jewellery to a brick-and-mortar professional with years of quality reviews and satisfied customers instead.
