Selling Jewelry to Help Pay for College

Media / Blog

Selling Jewelry to Help Pay for College

Prev

Your Earnings Power Is All About Supply And Demand

August 13, 2014

Over the years I have met people who have sold their jewelry for hundreds of different reasons from saving the rain forests and donating to charities, to paying medical bills and forming a new business. We have helped clients pay for weddings and divorces, debt relief, retirement and to help family members in financial need.

I can relate to all of these life events, but as a father, the one I relate to most easily is paying for my children’s education. We have helped many graduates pay off the debt that they have acquired while getting an education. We have also helped many parents and grandparents contribute to 529 plans – a tax-advantaged savings plan designed to help save for future college costs. Jewelry proceeds that are invested early have the time to grow tax free within a 529 plan and jewelry sold today, to pay down debt that could’ve accrued over the years, presents a much better financial footing for those trying to shake the burden.

Though my children are still relatively young, when speaking to a friend who is a financial advisor, I realized how far behind I am as compared to where I should be. That being said, no matter your financial situation, it’s important to plan for the ever rising financial costs for a loved ones education. I am not an expert on financial matters; I am however an expert at helping clients raise the most money possible for their jewelry and in turn, pay their way for a higher education.

When considering to sell jewelry to help pay for an education, it is important to consider what items you have that can be sold for the most money. In our experience, it is virtually always the largest single diamond you have in your collection. Whether it is an engagement ring from a previous marriage, or and inherited heirloom, the largest diamond will bring in the most money.

Of course other jewels can be very valuable as well. Antique ruby, emerald and sapphire rings can be a pleasant surprise in value. Signed jewelry from famous jewelers can also bring nice, to even tremendous amounts, of money. And gold and diamond jewelry with no provenance can be sold for good amounts as well.

I don’t believe that diamonds and jewelry should be considered an investment. Diamonds and jewelry are assets, but investing their value in a loved ones education can bring much bigger rewards.

Written By:
Andrew Fabrikant

Andrew Fabrikant, Partner of Andrew & Peter Fabrikant, a nationwide leader in diamond and estate jewelry buying, specializes in signed and unsigned estate jewelry (pre-owned jewelry), diamonds, watches, gold and other fine jewelry from anywhere in the United States. With four generations and more than 100 years in the jewelry trade, they have an established name of assessing each item of jewelry not only for its intrinsic worth, but its aesthetic value, its market desirability and history. Andrew & Peter Fabrikant will guarantee any and all purchases for quality and price. For more information call 1-800-570-Gems or visit http://fabon5th.com.

Next

Social Media May Be Your Best Freshman Class

Sign Up

Sign up for our exclusive Sunday Paper with a weekly market commentary, insightful personal finance blogs, and life changing education guides.

Email sign up

Securities offered through Kestra Investment Services, LLC (Kestra IS), member FINRA/SIPC. Investment advisory services offered through Kestra Advisory Services, LLC (Kestra AS), an affiliate of Kestra IS. oXYGen Financial is not affiliated with Kestra IS or Kestra AS. Kestra IS and Kestra AS do not provide tax or legal advice.

This site is published for residents of the United States only. Registered Representatives of Kestra IS and Investment Advisor Representatives of Kestra AS may only conduct business with residents of the states and jurisdictions in which they are properly registered. Therefore, a response to a request for information may be delayed. Not all products and services referenced on this site are available in every state and through every representative or advisor listed. For additional information, please contact Kestra IS Compliance Department at 844-553-7872.

PLEASE NOTE: The information being provided is strictly as a courtesy. When you link to any of the web sites provided here, you are leaving this web site. Kestra IS and Kestra AS makes no representation as to the completeness or accuracy of information provided at these web sites. Nor is Kestra IS and Kestra AS liable for any direct or indirect technical or system issues or any consequences arising out of your access to or your use of third-party technologies, web sites, information and programs made available through this web site. When you access one of these web sites, you are leaving our web site and assume total responsibility and risk for your use of the web sites you are linking to.