For those who’ve been trying to find methods to promote your effective jewellery items, you could have heard of Worthy. And that might go away you questioning; is Worthy legit?
Worthy is an organization that sells your jewellery for you, sending you the earnings after the sale.
On this Worthy overview, we’ll let you know how Worthy works, how a lot it prices, whether or not you will get it again and extra. That approach you’ll be able to higher decide if Worthy is for you.
What’s Worthy?
Worthy is a web-based public sale web site that focuses on promoting used luxurious jewellery and watches. The positioning was based in 2014 by Ben de Kalo, a former funding banker.
The corporate’s objective is to deliver collectively sellers of high-end effective jewellery with patrons eager about acquiring high-end jewellery items.
Worthy sells solely to a choose group {of professional} jewellery patrons which are extremely vetted earlier than they’re given entry to the public sale web site.
As a result of there are over 1,000 patrons competing for every jewellery piece, your possibilities of getting extra on your jewellery piece are increased.
Worthy doesn’t settle for all kinds of effective jewellery. Nevertheless, it does settle for:
- Diamond engagement and wedding ceremony rings with gold and/or platinum settings
- Designer jewellery from high-end designers comparable to Harry Winston, Tiffany and others
- Excessive-end designer watches made by corporations comparable to Rolex, Cartier and Tag Heuer
- Unfastened diamonds that meet Worthy’s purchaser requirements
You may go to the Worthy.com web site to study extra particularly in regards to the kinds of jewellery Worthy accepts.
Worthy additionally has a philanthropic coronary heart. They’re concerned with and financially dedicated to Jewelers for Kids. Jewelers for Kids is a non-profit group that works with jewelers to boost cash for kids going through catastrophic sickness or life-threatening abuse conditions.
How Does Worthy Work?
As talked about earlier, Worthy facilitates the promoting of your effective jewellery (or helps you buy effective jewellery) in a web-based public sale setting.
The corporate presents a free and absolutely insured FedEx cargo of your jewellery piece to Worthy. From right here, Worthy prepares it on your public sale. All FedEx shipments of knickknack are insured for as much as $50,000 by Lloyds of London.
After your jewellery piece is obtained by Worthy, it goes by a cleansing, images and grading course of to get it prepared for public sale.
The cleansing course of is finished by an expert jewellery cleaner and removes any tarnish, dust or floor scratches.
Your jewellery piece is then professionally photographed to point out off all angles of the piece.
From there, your jewellery piece is graded and given an appraised worth by an expert appraiser from labs related to the Gemological Institute of America (GIA), Worldwide Gemological Institute (IGI) GHI Gemological Laboratory or different main labs.
When this course of is full, you’ll be given a steered reserve worth (lowest bid accepted) on your jewellery piece.
You’re free to regulate this reserve worth upward when you desire.
As soon as listed, you merely wait on your jewellery piece to promote to considered one of Worthy’s vetted patrons. After the public sale begins and there’s a proposal that meets or exceeds the reserve worth, that provide is binding.
After the sale, Worthy collects the gross sales proceeds from the client after which sends you the cash (financial institution switch, PayPal or examine) you’ve earned from the sale, minus the fee price.
If there’s a couple of provide, the very best provide is accepted. Within the occasion that there’s a proposal that’s decrease than the reserve worth, you’ll be able to settle for or reject that provide.
For those who select to reject the provide, Worthy sends your jewellery piece again to you, insured and freed from cost.
What Are The Charges To Promote On Worthy?
Charges to promote on Worthy range primarily based on the successful bid on your jewellery piece. You by no means pay any charges till your jewellery piece is offered.
The price quantity Worthy fees is a proportion quantity and is set as follows:
| Profitable Bid Quantity | Worthy’s Price |
| As much as $5,000 | 18% |
| $5,001-$15,000 | 14% |
| $15,001-$30,000 | 12% |
| $30,001 and above | 10% |
In case you are delivery greater than three valuables to Worthy, this falls underneath the “Jewellery Field” price phrases, which is a flat 18%.
Subsequent, let’s focus on Worthy’s primary options and what makes the corporate enticing to jewellery sellers.
Worthy Options
Worthy has a number of options that make it a powerful consideration must you need to promote your effective jewellery.
Skilled Preparation
One of many options you get once you promote on Worthy is skilled preparation. After you ship your secured package deal to Worthy through FedEx, Worthy places it by a delicate however thorough preparation course of.
First, the jewellery piece is professionally cleaned and polished, eradicating any and all dust and tarnish from the piece.
After that, your jewellery piece is professionally photographed for the public sale. Photos are taken from quite a lot of angles to be able to showcase each aspect of your jewellery piece.
Your jewellery piece can be professionally graded by exterior, industry-leading labs comparable to GIA, GHI and IGI.
Watches are inspected by an organization known as Grand Central Watch. Grand Central Watch has been inspecting and repairing watches since 1952.
All of those processes work collectively to be able to get your jewellery piece in pristine form in order that it has one of the best likelihood of getting the very best worth potential at public sale.
Private Public sale Managers
After your jewellery piece is inspected and graded, the grading lab will provide you with a really useful reserve worth (the bottom bid accepted) on your jewellery.
You may merely settle for that bid worth and have your piece ready for the public sale. Nevertheless, additionally, you will have a chosen public sale supervisor from Worthy that is ready to help you.
Your private public sale supervisor can be there to reply any questions you could have. They will additionally discuss with you in regards to the really useful reserve worth ought to you could have any questions.
For instance, when you really feel the reserve worth is simply too low, your public sale supervisor can stroll you thru the professionals and cons of elevating the reserve worth.
The public sale supervisor is accessible that will help you with some other questions in regards to the public sale course of as nicely.
As well as, Worthy has a full staff of customer support professionals to help you all through the public sale, sale and cost processes of your expertise.
Skilled Purchaser Community
Worthy presents an expert purchaser community of over 1,000 jewellery and diamond specialists. All of Worthy’s patrons have been totally vetted.
They understand how a lot a jewellery piece is value and compete in opposition to one another at auctions. As talked about beforehand, this course of assists Worthy in serving to you get you the very best provide on your jewellery items.
Additionally, as a result of Worthy solely works with skilled, vetted patrons you may be assured that you just’re not taking a threat by promoting to some random individual with unknown financials and different particulars.
It’s vital to notice that everytime you resell your jewellery on a web site like Worthy, you could not get as a lot cash as you’ll when you promote the piece outright to a civilian purchaser versus an expert purchaser.
Skilled patrons sometimes purchase jewellery to be able to resell it. Civilian “buyer” patrons purchase jewellery items for personal use and anticipate to pay extra.
Quick, Safe Fee
While you promote your jewellery by Worthy you’ve acquired three choices for cost: ACH financial institution switch, examine or PayPal cost.
Be aware that you just can not select to get your cost by PayPal if the quantity Worthy owes you is over $5,000. As a substitute, you could select to obtain a examine or an ACH financial institution switch.
Relating to timing of your cost, Worthy says to anticipate it to take as much as 5-7 days to gather cost from the client.
After cost is obtained from the client, it is going to take a little bit of time for the cost to be transferred to you:
- 1 to three enterprise days for ACH financial institution transfers (often the quickest technique)
- 2 to three enterprise days for PayPal transfers
- 4 to five enterprise days for mailed checks
Within the occasion that you just’re promoting a number of items of knickknack, cost is held till the sale for all items is full.
For those who’re eager about getting your cost for a bit instantly after it sells, I’d advocate promoting your gadgets separately.
Worthy Opinions
Right here is a few of what customers are saying about Worthy on standard overview websites comparable to Trustpilot and the BBB (Higher Enterprise Bureau).
Worthy has a 4.7 star (glorious) overview on Trustpilot. Here’s a pattern of each a constructive and detrimental overview from Trustpilot.
“Very skilled and an awesome expertise from begin to end…..Worthy took care of the whole lot. After I despatched my gadgets in I needed to do nothing besides obtain my cash from them. Very straightforward and was stress-free for me. From my expertise, I extremely advocate Worthy!–Bob R. on Worthy
“As a lot as I’m comfortable to promote my ring, and Worthy.com made it straightforward and protected, I’m disillusioned within the worth. Your promoting makes it sound like an individual will get rather more for his or her jewellery once they promote than they really do……” Catherine on Worthy
Worthy has an A- ranking on the BBB web site. Here’s a pattern of each a constructive and detrimental overview from the BBB.
“Wonderful! My account supervisor, Rachel, was very skilled, useful and there was at all times nice communication all through the entire course of…….I’d undoubtedly advocate Worthy.” -Ronald P. on BBB
“The method itself went easily and the agent was very communicative. Nevertheless, I used to be disillusioned with the resell worth. If I had the bandwidth to take care of it myself, then I most likely might have gotten extra money…” -Princess B. on BBB
As I skimmed evaluations on Trustpilot and the BBB, I discovered that lots of the detrimental evaluations needed to do with prospects not getting as a lot cash as they’d hoped for his or her jewellery piece.
Subsequent, let’s take a look at solutions to some standard ceaselessly requested questions on Worthy.
Worthy FAQs
Right here’s a take a look at generally requested questions with regards to utilizing Worthy.
You may promote any diamond bracelet, necklace, ring or earrings made with gold or platinum. As well as, you’ll be able to promote high-end designer jewellery and watches.
After the gross sales course of is full, Worthy can pay you through your selection of ACH financial institution switch, PayPal switch or mailed examine.
In case your jewellery piece doesn’t promote, Worthy will ship it again without charge to you.
Sure! Worthy is a legit firm with excessive scores from the BBB and from Trustpilot. Jewellery despatched to them is cared for in an expert method.
Worthy Alternate options
There are different corporations that purchase effective jewellery from non-public patrons like your self. Right here is a few details about a few Worthy options.
Money for Diamonds USA works equally to Worthy in that it’ll aid you promote your diamond jewellery.
Nevertheless, in contrast to Worthy, Money for Diamonds USA doesn’t maintain an public sale to promote your diamonds. As a substitute, you ship your diamonds to Money for Diamonds USA freed from cost and insured.
Then Money for Diamonds USA will provide you with an on-the-spot provide on your diamonds. You may settle for the provide and get your money inside just a few days.
Louped works equally to Worthy in that it’ll aid you promote your jewellery piece on-line. Merely ship in an image of your jewellery piece, and your Louped skilled will let you know what they advocate you listing it for.
You may also take the direct sale provide out of your Louped skilled. The fee construction for promoting on Louped ranges from 10-20% relying on what your merchandise sells for.
Louped is a little more fingers off than Worthy. Nevertheless, it does provide {the marketplace} choice the place you’ll be able to promote your merchandise to a purchaser or you’ll be able to select Louped’s direct provide, which is good.
Ultimate Ideas
Worthy is a legit web site so that you can promote your effective jewellery on. It’s possible you’ll need to use Worthy to promote your jewellery you probably have effective jewellery value over $1,000 and you’ve got time to attend for the public sale to happen.
Sure, Worthy does take as much as 18% of the ultimate sale worth of your jewellery piece. Nevertheless, in alternate for that fee you’ll get a protected, skilled, insured choice for promoting your jewellery.
