in times of financial difficulty, do you sell your jewelry?

[dollyanjuli]

...hoping to hear from others who have experienced this, as from perusing the preloved forums on an almost daily basis it looks like I am not the only one...

Recently my husband and I have come under significant financial strain, and after weeks of deep thought I decided to start selling off things that I knew had value and could hopefully help. I don't have a ton of fancy things, but if I liquidated I could make a decent amount to help us.

I started with selling small pieces of jewelry i knew i wasn't emotionally attached too...and have now moved on to selling two bags that I AM emotionally attached too, but could recover from... what I am grappling with now is with selling a few pieces of "bigger" jewelry, things I have invested not just money but time and energy into creating and that I love, but know could actually help make a dent.

I never bought things with the idea that I would sell them to "get my money back", but there is the subconcious factor that " Ok...we really, really need X amount of dollars and I could get that for my family if I sold Y and Z". It's just getting over the hump.

So I guess the question is: has anyone gone through this? Was it hard to do?

As an aside my husband is by no means making or asking me to do this...but he has made comments in passing about my "expensive things" and I know without a doubt that while he went along with some of my bigger purchases, in the back of his mind he wishes I had never pushed for them and that we had saved the money instead...

 

[CharmyPoo]

Re: in times of financial difficulty, do you sell your jewel

I am so sorry that you are going through difficult times and I hope you can get through it quickly. I don't have any advice to offer you but you often get back only a small portion of what you spent when selling jewelry. This is especially true when under a time crunch - if you have time and got the items for a good price, many have come out well the other end.

I do know many people sell off jewelry in times of financial difficulty. I have bought in these situations and know how hard it is .. I have even sold back items after they have passed their financial situation.

Best of luck!

 

[dk168]

Re: in times of financial difficulty, do you sell your jewel

Been there, done that.

I wish I had not sold the pieces my mum gave me when I was young, as I could have re-modelled them now I am older and more solvent.

However, I needed the money at the time, and they were sitting in my jewellery box gathering dust.

I did not get a very good price for them, as I sold them as a job lot to a local jeweller, who informed me that they would be difficult for him to sell due to the majority being made with 14K gold and that is not common in the UK, and the diamonds did not come with certificate etc. etc...

By that time I had already spent a small fortune on eBay listing fees without selling a single piece (I have learnt my lesson on how to sell jewellery on eBay), so I went ahead with the sale.

I also sold my engagement ring as part of the job lot. I offered to give the ring back to my ex-hubby. He kindly declined, and said it was a gift and I was free to do whatever I wished with it. I could not wear it after the divorce, and was planning to re-model it as part of a pendant. However, it fetched the most money out of the job lot, so off it went.

I had also sold the 18K WG earrings that were dear to me, as big 18K WG earrings are very hard to find except in Italy. However, I seldom wore them, and I had some good results selling them via eBay.

I also sold a custom-made double strand pearls at a knocked down price. It was made specifically to wear at my late partner's funeral as a much-needed morale boost (long story), and I was not going to wear it again as it would bring back too many unpleasant memories. So I thought I might as well sell it to a good home and use the money for a major purchase that I needed at the time.

Do I have any regrets in selling the jewellery pieces? No, not regrets, just disappointed with myself for not having a better grasp with money until recently and got myself into a pickle with debts, and had to raise money via selling my jewellery.

They were only material objects and the majority did not have much sentimental value, and I cannot take them to my grave. The money I got from selling them helped me out of difficult situations, therefore, it was worth the hassles.

Good luck with selling yours. However, don't be too disappointed with not being able to get what you have hoped.

DK

 

[diamondringlover]

Re: in times of financial difficulty, do you sell your jewel

I am very interested in the replies to this thread, my hubby is currently out on disability and no signs of going back to work...money is starting to get tight and I am thinking of starting to sell jewerly...

 

[Tourmaline]

Re: in times of financial difficulty, do you sell your jewel

Yes, when I need to raise funds for anything, I look through my jewelry and sell pieces that aren't current favorites. Best of luck to you in getting your head around it.

 

[dollyanjuli]

Re: in times of financial difficulty, do you sell your jewel

Yes, when I need to raise funds for anything, I look through my jewelry and sell pieces that aren't current favorites. Best of luck to you in getting your head around it.

Tourmaline, I think that's where I have been struggling- my favorite pieces are the ones with the most value (unfortunately). Even though I don't wear them all the time, I consider them my extra-special pieces. The thought of parting with any of them is very hard...especially knowing I won't get anywhere near their value...

Another part of this equation is that since much of my jewelry I have had custom made and worked with my jeweler on sourcing stones, other than my engagement ring nothing I have is graded. So do I need to get the big pieces appraised in order to get a decent amount?

Ughhhh

 

[anne_h]

Re: in times of financial difficulty, do you sell your jewel

I do not have personal experience with this, but would also be concerned about selling jewelry at a loss.

What about other options like adding other sources of income and/or reducing other expenses?

Anne

 

[Mayk]

Re: in times of financial difficulty, do you sell your jewel

I recently made the decision to consign a much loved piece I've only had a short time because when I started researching prices I realized I was wearing a very safe car on my left hand that I would buy for my 16 year old. I have time. Until the summer. If it doesn't sell I'm working on a back up plan but it's hard to make choices that seem more frivolous when there is a need. Trust me I've strggled with the decision. I'm sorry your in this position. I hope things improve quickly. More than likely your husbands comments are stress be patient, kind and supportive to each other because having each other is important then things that can be replaced.

 

[arkieb1]

Re: in times of financial difficulty, do you sell your jewel

On the one hand I think it is difficult because jewellery is rarely a good investment which means that you will take a financial loss on most pieces that you sell. On the flip side of that jewellery is just jewellery, it's mostly something you can buy back again one day. My husband has a great saying "everything is for sale except the wife, the kids and the dog" meaning people matter more than material things.

 

[heididdl]

Re: in times of financial difficulty, do you sell your jewel

We are in the same boat as you are right now. However, I have sold cloths, stuff, costume and alot of handbags. I will not part with my ER my mother's ER or any of my sentimental pieces. Once they are gone they are gone. I have a doll collection that will certainly go before my sentimental jewelry. Yes it is hard when I am wearing a appraised $57,000 ring from my mother. My husband would never ask me to sell it.

There is always another way. I seem to find odd jobs, ebay, gaaarage sales. I've refnished furniture what ever i need to do so that i can keep thethings that I want to pass on to my children.......

Good luck ain't life fune

 

[Circe]

Re: in times of financial difficulty, do you sell your jewel

Yes.

One of the great things about jewelry is that it's a luxury that you can enjoy and from which you can still occasionally recoup money in case of emergency (unlike, say, having a taste for fine wine or theater or the like).

In keeping with the advice others have mentioned already ... you're likely to get more if you can, a)sell for yourself instead of going through a middle-man, and, b) take your time about it. I'll also say that it's actually much easier (at least on the basis of my limited experience) to sell little things then it is big ones. With big ones, people are quite naturally buying less frequently, and - also quite naturally! - place a greater emphasis on outside corroboration (appraisals, certification, etc.) I'd say that's the only scenario in which it probably makes sense to consign with a well-regarded vintage dealer: they have reputations, publicity, a steady customer base, etc. Sure, they'll take a cut of the profit (I think they can run anywhere from 10% to 30% of the gross), but you're likely to sell faster, and probably for a better price then you would otherwise.

Like Heidi, though, there are some pieces I'm very attached to: I think if it's a piece it would sting to sell (heirloom, sentimental, etc), it's worth thinking very hard about whether it's worth it, or whether there's some other way to raise money. I can recreate almost any of my aesthetically pleasing custom pieces when the wheel of fortune turns, and I have the funds to buy similar materials, hire equally talented artisans, etc. But it'd be hard to replace the (almost worthless) little diamond ring my parents gave me when I was five, or, for that matter, the somewhat more valuable one they gave me when I turned 21. That, I think, is the hardest part: it's not the abstract question of selling jewelry as a class of item, because as you said, selling the ones to which you weren't attached wasn't impossible. It's the question of each specific piece, once you get to a certain thresh-hold of emotion ...

 

[Maisie]

Re: in times of financial difficulty, do you sell your jewel

I would definitely sell my jewellery if we were in need. I couldn't justify keeping it if we needed the money for food, clothes, bills etc. None of my jewellery is worth a fortune though so I suppose it would only keep us going for a month or two anyway.

 

[missy]

Re: in times of financial difficulty, do you sell your jewel

Dolly, I am so sorry you are dealing with this and I hope things turn around for your family very soon.

To answer your question yes, I would sell whatever I needed to in a heartbeat to help my family. Material things are just material things and unimportant in the true course of life. Of course it might sting and when emotional ties are associated with material objects give pause (perhaps long pause) for sadness and a feeling of loss. However, in the grand scheme of life they are not important.

The well being and safety of your loved ones and yourself are all that matter. Hold on to what is dear and important and let go of what is truly not and while it is normal to feel badly when life becomes more challenging as long as you have each other that is all that matters.

(((Hugs))) and hoping things become better very soon.

 

[Skippy123]

Re: in times of financial difficulty, do you sell your jewel

Dolly, I am so sorry you are dealing with this and I hope things turn around for your family very soon.

To answer your question yes, I would sell whatever I needed to in a heartbeat to help my family. Material things are just material things and unimportant in the true course of life. Of course it might sting and when emotional ties are associated with material objects give pause (perhaps long pause) for sadness and a feeling of loss. However, in the grand scheme of life they are not important.

The well being and safety of your loved ones and yourself are all that matter. Hold on to what is dear and important and let go of what is truly not and while it is normal to feel badly when life becomes more challenging as long as you have each other that is all that matters.

(((Hugs))) and hoping things become better very soon.

I agree with this. I am sorry you are in this position and I hope things change quickly. I honestly would sell my favorite things if it would mean putting food on the table. Now if I had an expensive car I would sell it and buy a used car. I wouldn't sell jewelry to help pay bills for things I could sell and get something used (if that is an easier and faster option). If that isn't an option then I would sell my jewelry.
hugs; I am sorry.

 

[dk168]

Re: in times of financial difficulty, do you sell your jewel

My husband has a great saying "everything is for sale except the wife, the kids and the dog" meaning people matter more than material things.

For me personally, it is my house, the cat, the dog and the car.

I do not wish to sell the jewellery I still have for various reasons. However, I have used some of them to raise fast ready cash via a friendly pawn shop in the past. It is good to know I can still do that in case of emergencies as I do not wish to go down the route of having credit cards again.

DK

 

[swingirl]

Re: in times of financial difficulty, do you sell your jewel

As an aside my husband is by no means making or asking me to do this...but he has made comments in passing about my "expensive things" and I know without a doubt that while he went along with some of my bigger purchases, in the back of his mind he wishes I had never pushed for them and that we had saved the money instead...

I think you are feeling some guilt here, and I would agree with your husband. Our savings far exceed the value of my jewelry and would not be in the "emergency money" pot.

Sounds like you might feel better if you sold your personal items in order to help the financial situation of your family.

 

[dollyanjuli]

Re: in times of financial difficulty, do you sell your jewel

Thank you everyone for your extremely sweet and thoughtful responses!

To provide a bit of clarity, it's not a situation where we would be out of house and home if we did not have an extra 10K (thankfully and knock on wood!) We need the money quickly to help with bills that have snowballed out of control and we are trying to stop the bleeding, so to speak. My husband has always been conservative and I have always been of the "if it's a great deal I have to get this!". Now he is incredibly stressed and it is affecting out normally happy marriage. Could we get out of it in 6 months by being very careful? Yes. But with the holidays coming up and the fact that I have a HUGE a family, plus family weddings we have to go to ... it will get worse before it gets better, and knowing that I could help this situation has very much left me feeling guilty.

I have been talking to him more and there is a feeling of " well you already did the damage, no point selling things now at a loss" but I still feel that if I could pay off a chunk of our debt with a few purses and pieces of jewelry, he would be happy and I in turn would be happy. Because right now, every night he checks all our statements and wonders how we are going to afford christmas and airline tickets home everything else while the credit cards are piling up, and in the jewelry box next to my bed i have items that could wipe out half of our issues. We do have a savings but it is for our first home and we both swore we would never dip into it unless things were REALLY bad, which they aren't...just very stressful.

I wouldn't sell my wedding jewelry or engagement ring, but as has been mentioned pieces that even though I love them dearly could be replaced some ways down the road. After reading all of this I feel better about my decision, so thank you everyone. Family comes first!!!

 

[dollyanjuli]

Re: in times of financial difficulty, do you sell your jewel

bye bye bluebell, I loved you well...off to the appraiser (and then hopefully a good home) you go...

 

[Dancing Fire]

Re: in times of financial difficulty, do you sell your jewel

I wouldn't sell my wedding jewelry or engagement ring, but as has been mentioned pieces that even though I love them dearly could be replaced some ways down the road. After reading all of this I feel better about my decision, so thank you everyone. Family comes first!!!

There are more important things than jewelry?..

 

[Polished]

Re: in times of financial difficulty, do you sell your jewel

but I still feel that if I could pay off a chunk of our debt with a few purses and pieces of jewelry, he would be happy and I in turn would be happy.

I do believe times like these, where you pull together to help ease a stressful situation, can help to forge a deeper bond between you in the future. That's a lot more valuable than a piece of jewelry. Having said that, your sapphire ring is stunning!

You talk of the upcoming expense of Christmas and presents. There can be so much pressure and pride involved with this. We have a largish family and over the years have tried to simplify things - each members brings one dish, we have a system where everyone gives one gift and receives one in exchange to cut down on some of the gift giving. I'm wondering whether this year things could be cut down for you.

 

[Andelain]

Re: in times of financial difficulty, do you sell your jewel

bye bye bluebell, I loved you well...off to the appraiser (and then hopefully a good home) you go...

Oh, my.....

It's always hard when you're in a situation like this, but remember that it won't always be this way. Eventually you'll probably be able to replace what you sell now.

 

[Tekate]

Re: in times of financial difficulty, do you sell your jewel

I'd sell everything in a heartbeat.. my family means more. In my will I have stated my sons can each pick a piece(s) of equal value and the rest can be sold.. jewelry is like art to me, you can always start again.

Best BEST of luck in recovering your financial footing.. you come across as a caring person.. family first - - - always.

regards and wishes for you.

 

[TruLuv858]

Re: in times of financial difficulty, do you sell your jewel

bye bye bluebell, I loved you well...off to the appraiser (and then hopefully a good home) you go...

Holy Moly... that is exquisite.

I'm sorry you will have to give up some of these beauties. On the positive side, once you are ahead of the game you can create new pieces. I have had to sell diamond earrings and my rings from my first marriage, it wasn't a fun task, even though they are material items... I'm so sorry...

Off topic- but I had to ask about the ring in your avatar. Is that yours, is that a Daussi? It's gorge!

 

[telephone89]

Re: in times of financial difficulty, do you sell your jewel

That is a terrible situation for you to be in, I'm so sorry.

But after hearing what you said, why don't you stay home this xmas? You can explain that you are not in a position to buy presents or plane tickets. Save the money, and get out of it in 6 months like you said. I'm not sure how old you are, but building healthy spending habits starts early, and overspending (and feeling like you need to, like with your family) can continue to get worse. Obviously it is your choice, but I would try to cut spending before selling jewellery, which will most certainly fetch less than what you paid. Good luck, I hope things turn around soon!

 

[dollyanjuli]

Re: in times of financial difficulty, do you sell your jewel

telephone89, if only it were that simple- skipping Xmas with my family would be like telling them I was on deaths door. And saying it's because we are trying to be conservative would NOT go over well- I am Indian and from a giant indian family where there is lots of wealth (including my parents)...I do not want them to think there is something wrong which they IMMEDIATELY would. This is more about personal responsibility. I never grew up budgeting, and it's been hard being married to someone who never knew it any other way- but we are working on compromises.

Dancing Fire- LOL. I never knew there were more important things than jewelry till I got married. Now I know that there are bigger things I should devote my affection too

TruLuv it IS a Daussi, a lot of PS'ers arent so fond but I think that they are like all diamonds- some are dogs, some are AMAZING. My stone is a daussi (it's not the one in my avatar, it's in a different thread) but in HW style setting. I like to think it was one of the good ones

Thanks for the comments on Bluebell, she is a beauty and my most prized piece after my engagement ring.I hope she finds a good home...never had paperwork done on her since I never had intention to sell but have an appointment on saturday with a well known, pricescope approved appraiser in los angeles so it should be listed by Saturday evening.

All of this aside personally I would rather sell a few pieces which like many of you said, can be recouped one day,than give up precious memories with my family or cause my husby (and in turn, me) undue stress. I am at peace with my decision as long as what I sell ends up in a good and loving home ( and I don't have to sell the cats, HA)

 

[Travelgal]

Re: in times of financial difficulty, do you sell your jewel

On the one hand I think it is difficult because jewellery is rarely a good investment which means that you will take a financial loss on most pieces that you sell. On the flip side of that jewellery is just jewellery, it's mostly something you can buy back again one day. My husband has a great saying "everything is for sale except the wife, the kids and the dog" meaning people matter more than material things.

I was thinking to myself how could I possibly sell my jewelry- there must be something else. You just put everything into perspective. At the end of the day it's our family and friends that matter- not pieces of carbon and metal .

 

[dk168]

Re: in times of financial difficulty, do you sell your jewel

That sapphire ring is stunning, and I hope it will go to a good home, good luck OP with the sale.

DK

 

[elizabethtwrs]

Re: in times of financial difficulty, do you sell your jewel

Dolly, just throwing this out. Would your DH be even more pissed that you sold off jewelry at a big loss, and then subsequently buy it back after things get better at full price? Because then he might think you have really "thrown" money away. Unless after you sold it, you didn't buy anything to replace it.

I would look through all your things carefully and see if there are any others that you can sell. Perhaps designer clothes or purses that you no longer wear. Also since you say you're Indian, I figured you might have a lot of solid gold jewelry? If so, selling (or pawning them temporarily) might fetch a better price than gemstones and diamonds.

Also, I would give this Christmas a miss. Make up some excuse like your DH has an important work deal around Christmas that he absolutely cannot miss. Then you two go somewhere simple and spend Christmas together without all the extravagant pomp and stress of having to deal with your wealthy relatives. It may do your marriage some good during this stressful period. Hope things get better for you.

 

[arkieb1]

Re: in times of financial difficulty, do you sell your jewel

That is a beautiful sapphire ring, do you have any other small things you can sell? Maybe you should make excuses like one of you is sick or something and have a quiet peaceful Christmas this year just until you get in front of things.

 

[Lizabeth]

Re: in times of financial difficulty, do you sell your jewel

When you get an appraised value back, set a price at which it would be worth it to sell the ring, a price that would make a difference in your financial situation and would not mean losing a lot of money (compared to what you paid for it) if the ring sells for that. If you can get that price, I would then take it as a sign from God/fate that it's time to sell the ring.