Jul 8, 2011 1:33 am
Consignment is defined as transferring to another's custody; entrusting. In commerce it means having an agent of some sort handling your property for sale, storage or shipment. Jewelry consignment is a serious commitment. There are things you need to be wary of when you consider a service to be the consignee.
First and foremost you should cosign with a reputable, certified jewelry buyer/seller. Selling gold in NYC means innumerable options. Licensed sellers are the only way to ensure you will get an insurance claim should there be any problems. Security of your items should never be taken lightly. NYC gold buyers and jewelers handle security and sales, though, so you don't need to stress the sale.
The things you will want to consider are the dividends of the profit and the time it may take to have your jewelry sold. Most times you will get a 50/50 or a 70/30 split. In those cases you will want to weigh that option as opposed to having your NYC gold buyers appraise and purchase the pieces. If you know where to look you will get a 90/10 split, such as at Global Gold & Silver.