Selling jewellery on commission in Reading

Many of our clients sometimes want to sell their jewellery, but are unsure as to their options. 

On occasions we buy jewellery outright, but sometimes the item may not be quite right for us at that moment in time. 

So in some instances, we may offer to sell your jewellery on commission on your behalf. This means we don't pay you for the item, but we display it in the shop and if it sells, we pay you an agreed amount after a commission + VAT.

You may find the following article useful as to commonly which ways of selling jewellery return the most money to their owners - click here.  

As an established jeweller with over 75 years' experience, we've a tried, tested and trusted process with 6 steps to take. We've also added some rough timings to expect too. 

Viewing: book an appointment to visit us for a consultation - please bring all paperwork, boxes or old valuations with you. The more provenance, the better! 

Research: after dropping your items off we'll research the market and come up with a suggested selling price range. Between us we'll settle on a price that we could place your item/s for sale at.

If you don't have an up to date insurance valuation for the item, you may wish to commission one to add provenance to your sale. Any cost for this will be factored into the agreed asking price.  You can read about insurance valuations here, and be aware of how insurance valuations differ in assessment of value compared to selling - see here. 

How long? 1 to 3 weeks depending on how much information you have to share. 

Repairs + Cleaning: at this stage we'll also recommend and quote for any repairs or cleaning we think are needed to put your item/s in saleable condition

How long? 1 to 3 weeks depending on work required.

Agreement: assuming we agree on the suggestions from parts 1 and 2 above, we'll then document the agreement with you. We'll agree a time to review progress too. We will check your photo ID, and note we only pay by bank transfer or cheque (not cash). 

How long? A few days.

In the window: we'll place any agreed items not only in our shop window, but also on our website. Any agreed cleaning or repair work needs to be paid before going in the window. 

How long? A week for photographs and uploading to our website. 

Review: we'll keep you posted on how we get on. If your item sells, we will need to make sure enough time passes just in case a buyer makes a return, before we settle up with you.

How long? We'd suggest at least one Christmas, and a year is a decent window of time to start with. If an item sells in November or December, our returns policy allows for returns until the end of January, at all other times of year, it's a month. We will settle our account with you once any returns window has closed. On occasions a client may ask for a longer return window - we will refer to you before agreeing to this.

At any stage, you can request your items back, assuming all fees from cleaning/ polishing are clear. 

Our commission rates are

Normal sale: 25% of sold price + VAT 

Part exchange: 8% value of sold price + VAT, which equates approximately to a credit note of 90% of the sold price. Any remaining balances after purchases from a credit note are subject to 25% + VAT commission.

Items selling for over £10,000 will have a lower commission depending on the article. Contact us for more info. 

You may find it useful to take a look at a couple of articles in our academy section as to how values vary:

Why different values? click here.

Insurance value vs. selling value? click here. 

Insurance: Your item/s are insured by Jacobs whilst under our care for the agreed sale amount documented in your Customer Goods On Sale paperwork less any commission fees. 

Warranties: assuming we have agreed and carried out any repair work before going on sale, Jacobs are responsible for after care of any sold items. That means that you won't be responsible if a client comes back after a year with a damaged claw, for example, Jacobs takes on that responsibility. 

Deposits: sometimes clients pay a deposit towards an item. An item is only classed as sold and ready for payment to you once the item is paid in full, collected, and past our returns window. 

If you'd like to book an appointment with us to discuss, please contact us. Do feel free to email any pictures and paperwork ahead of a call or visit.