Worthy.com Review: The Smart Way to Sell Your Jewelry Online

Hey there, jewelry lover! If you‘re like me, your collection is always evolving. Sometimes that means saying goodbye to pieces that no longer suit your style or hold sentimental value. But selling jewelry can be a major headache, am I right? You‘ve got to worry about getting a fair price, avoiding scams, and jumping through countless hoops just to get your piece in front of potential buyers.

That‘s why I was thrilled to discover Worthy.com, an online auction platform that‘s totally changing the game for selling pre-owned jewelry. Worthy makes the process safe, easy, and lucrative, connecting you with a network of professional buyers who compete for your piece.

In this in-depth review, I‘ll share my personal experience using Worthy to sell a diamond ring, along with everything you need to know about how the platform works, the advantages it offers over other selling options, and tips for getting the most money possible for your jewelry. Trust me, if you‘ve got valuables to sell, you‘ll want to keep reading!

What Is Worthy.com?

Before we dive into the details, let‘s start with a quick overview of what Worthy is all about. In a nutshell, Worthy is an online auction marketplace specifically for high-end jewelry, diamonds, and luxury watches. The company was founded in 2011 by entrepreneur Ben De-Kalo after he struggled to get a fair price for his wife‘s diamond necklace using traditional selling methods.

Worthy‘s mission is to make selling jewelry safer, easier, and more profitable than ever before. They achieve this by providing free expert evaluations, HD photography, and worldwide marketing to their exclusive network of professional jewelry buyers. Sellers benefit from a competitive auction format that drives up prices, while buyers gain access to authenticated, high-quality pieces at fair market value.

One of the coolest things about Worthy is that they handle literally every aspect of the selling process for you. From providing a free, fully insured FedEx shipping label to having your piece professionally cleaned, photographed, and authenticated, Worthy takes all the hassle out of selling your jewelry. Plus, the entire process is tracked online, so you‘ll always know exactly where your item is and what it‘s worth.

Is Worthy.com Legit?

Now, I know what you might be thinking: "This sounds too good to be true. Is Worthy.com legit?" I‘m happy to report that Worthy is the real deal. The company is headquartered in the heart of New York City‘s famous Diamond District and has an A+ rating from the Better Business Bureau.

Even more impressive, Worthy boasts an average customer rating of 4.7 out of 5 stars on Trustpilot, with over 1,400 reviews from satisfied sellers. They‘ve also been featured in major publications like The New York Times, Forbes, and Good Morning America.

When I sold my own diamond ring on Worthy earlier this year, I was honestly blown away by how easy and professional the entire experience was. From start to finish, I felt like my jewelry was in good hands.

How Worthy.com Works

Alright, let‘s get into the nitty-gritty of how Worthy actually works. The selling process can be broken down into four simple steps:

Step 1: Submit Your Jewelry Details

To get started, you‘ll visit Worthy.com and click the "Get Started" button. You‘ll be asked to provide some basic information about your jewelry, including:

• The type of item (ring, bracelet, watch, loose diamond, etc.)
• The carat weight of the main stone
• The shape of the main stone (round, princess, emerald, etc.)
• The metal type (yellow gold, white gold, platinum, etc.)
• Any brand names or distinguishing features

Based on these details, Worthy‘s experts will provide you with an initial estimate of your item‘s market value. When I submitted my 1.5 carat round diamond solitaire ring, I instantly received a $5,000 to $7,000 valuation range along with an explanation of current market trends for similar pieces.

Step 2: Ship Your Jewelry to Worthy

If you‘re happy with the initial estimate and ready to move forward, Worthy will send you a free FedEx shipping label to mail your jewelry to their NYC headquarters. Your item is automatically insured for up to $100,000 from the moment it leaves your hands, and you can track its progress online every step of the way.

When my ring arrived at Worthy, I received an email update letting me know it had been safely received. The whole shipping process was totally seamless.

Step 3: Auction Preparation

Here‘s where Worthy‘s white-glove service really shines. Once your jewelry is received, it goes through a meticulous evaluation and preparation process to maximize its value at auction.

First, your piece is professionally cleaned, polished, and photographed in high resolution from every angle. Worthy actually uses the same photography equipment and techniques as the world‘s leading auction houses!

Next, your jewelry is carefully authenticated and graded by Worthy‘s in-house experts. If your piece contains a center diamond weighing over 1 carat, it will be sent directly to the GIA or GSI for an official lab grading. Worthy even covers the cost of this grading, which can normally run over $200!

By the time my ring made it to auction, it genuinely looked better than the day I bought it. The photographs were stunning, and I loved having the extra reassurance of that GIA certificate.

Step 4: The Auction

Now for the exciting part: your jewelry goes up for auction on Worthy.com! Auctions are typically held within 2 business days of an item being listed, and last for 2 to 5 days. During this time, Worthy markets your piece to its extensive network of professional jewelry buyers around the globe.

As bids start coming in, you can monitor the auction progress in real time from your Worthy account. It‘s seriously exhilarating to watch those bids climb higher and higher! You‘ll also have the option to communicate with bidders and answer any questions they may have about your piece.

One thing I really appreciated about Worthy‘s auction platform is that you get to set your own minimum reserve price. That means your jewelry won‘t sell unless it reaches a price you‘re comfortable with. If the highest bid doesn‘t meet your reserve, you have the option to decline the sale, and Worthy will ship your item back to you free of charge.

In my case, I set a reserve of $5,000 for my diamond ring and was thrilled when the winning bid came in at $6,800. That was nearly $2,000 more than the highest offer I‘d received from local jewelers!

Getting Paid

If your jewelry sells at auction, you‘ll receive an email notification with the final sale price. Worthy takes a competitive commission based on this price, which ranges from 10% to 18%. For my $6,800 sale, Worthy‘s commission was around $1,200, leaving me with a net profit of $5,600.

Payments are typically processed within 1 business day via direct deposit or PayPal. In my experience, the funds were in my account within 24 hours of the auction closing.

All in all, the entire process from submitting my ring to getting paid took about 2 weeks. Considering how much time and energy I would have spent trying to sell it on my own, I was more than happy with this timeline!

Why Sell on Worthy?

If you‘re considering selling a piece of high-end jewelry, you might be wondering what sets Worthy apart from other options like pawn shops, consignment stores, and online marketplaces. Here are a few key advantages I‘ve found:

1. Higher Sale Prices

Thanks to Worthy‘s competitive auction format and extensive network of professional buyers, sellers can typically expect to earn significantly more than they would through traditional selling avenues.

In fact, Worthy has found that their sellers earn up to 3 times more on average compared to offers from local jewelers and pawn shops. For pieces with center diamonds over 1 carat, like my ring, sellers earn up to 5 times more!

2. Expert Authentication

One of the biggest challenges in selling high-end jewelry is assuring potential buyers of its quality and authenticity. With Worthy, every single piece is authenticated and graded by industry-leading experts.

Not only does this give buyers total peace of mind, but it also allows you to command higher prices. A diamond ring with a GIA report is always going to be worth more than one without, period.

3. Unmatched Convenience

Selling jewelry the traditional way is a massive time-suck. You‘ve got to schlep your pieces around town, haggle with buyers, and deal with flaky Craigslist strangers. With Worthy, the entire process is handled online from the comfort of your own home.

Worthy provides free shipping, complimentary grading, and 24/7 tracking so you always know the status of your sale. For busy people like me who just don‘t have time for the runaround, this convenience is priceless.

4. Zero Risk

One of my favorite things about Worthy is that there‘s literally zero downside to using their service. Listing your jewelry is 100% free, and you only pay a commission if your piece sells.

If you‘re not happy with the final sale price, you can have your item returned to you at no cost. And with up to $100,000 in insurance coverage, you never have to worry about your jewelry being lost or damaged.

Customer Reviews

Don‘t just take my word for it – Worthy has thousands of glowing reviews from satisfied customers. On Trustpilot, the company has an average rating of 4.7 out of 5 stars based on over 2,500 reviews.

Here are just a few examples of what sellers are saying:

"Worthy was a lifesaver in my divorce settlement! They made selling my engagement ring so easy and I got way more than I was expecting." – Sarah T.

"I‘ve sold several pieces with Worthy and have always been blown away by their service. They‘re honest, responsive, and truly care about getting you the best price possible for your jewelry." – Michael S.

"I was a little hesitant to sell my Rolex online, but Worthy exceeded all my expectations. The process was secure and seamless from start to finish." – David R.

Of course, no company is perfect, and Worthy does have a handful of less-than-stellar reviews. The most common complaint seems to be from sellers who were disappointed with their final sale prices.

It‘s important to remember that Worthy is a marketplace, not a direct buyer, so sale prices are ultimately determined by the bids placed at auction. There‘s never a guarantee of what your item will sell for.

However, Worthy does allow you to set a reserve price so you never have to accept an offer you‘re not comfortable with. And based on the company‘s track record, the vast majority of sellers end up very happy with their earnings.

Worthy Alternatives

When it comes to selling high-end jewelry online, Worthy is definitely my top pick. However, there are a couple of other options you might want to consider:

1. Abe Mor

Abe Mor is another online jewelry buyer that offers a similar service to Worthy. Like Worthy, they provide free insured shipping and expert grading for your pieces.

The main difference is that Abe Mor isn‘t an auction platform – instead, they make you a direct offer for your jewelry based on their evaluation. This can be a good option if you‘re looking for a quick and guaranteed sale.

However, in my experience, Abe Mor‘s offers tend to be a bit lower than what you can earn on Worthy. They also only accept diamonds and fine jewelry, while Worthy will take luxury watches and other valuables.

2. The RealReal

The RealReal is a popular online consignment store that accepts high-end jewelry along with designer clothing and accessories. They have a large audience of luxury shoppers and can be a good option for certain pieces.

However, The RealReal takes a much larger commission than Worthy (up to 50% for jewelry under $1,500), and the process of consigning can be a bit more involved. They also don‘t specialize in jewelry like Worthy does, so you may not get the same level of expertise and service.

Ultimately, if you‘re looking to sell a valuable piece of jewelry, I recommend getting quotes from a few different sources to see where you can get the best deal. But in my experience, Worthy consistently offers the perfect balance of convenience, security, and earning potential.

Tips for Selling on Worthy

If you‘ve decided to give Worthy a try, here are a few insider tips to help you have the best possible selling experience:

1. Be detailed in your initial description. The more information you can provide upfront about your jewelry, the more accurate your initial valuation will be. Don‘t forget to mention any brand names, inscriptions, or unique features.

2. Take advantage of Worthy‘s GIA/GSI grading. For eligible diamonds, this professional grading can make a huge difference in your final sale price. And since Worthy covers the cost, there‘s no reason not to do it!

3. Set a competitive reserve price. Your reserve should be the lowest price you‘re willing to accept for your item. Set it too high and you risk your piece not selling at all. I recommend aiming for the lower end of Worthy‘s initial estimate range.

4. Be patient. It can be tempting to jump on the first decent offer that comes along, but trust the process! Worthy‘s auctions are designed to drive up prices over time. In my experience, the highest bids tend to come in the final hours.

5. Communicate with buyers. Don‘t be afraid to interact with potential buyers during the auction. Answering their questions promptly and thoroughly can help instill confidence and lead to higher offers.

The Bottom Line

So, is Worthy.com worth it? In my opinion, absolutely.

As someone who‘s sold jewelry through just about every avenue imaginable – pawn shops, Craigslist, eBay, you name it – I can honestly say that Worthy offers the best combination of ease, speed, and profit.

The fact that Worthy handles every aspect of the selling process, from authentication to photography to marketing, is a game-changer. And their competitive auction format and vast network of buyers means you‘re virtually guaranteed to get a fair market price for your valuable jewelry.

Of course, as with any service, there are potential downsides to consider. Worthy‘s commissions can take a decent chunk out of your profits, especially for lower-value items. And there‘s always a small chance your piece won‘t sell at auction (although you can reclaim it for free).

But in my experience, the benefits of using Worthy far outweigh the risks. If you have high-end jewelry that you‘re no longer wearing or enjoying, I highly recommend giving them a try.

Even if you‘re not sure you‘re ready to sell, it never hurts to get a free valuation and see what your piece could be worth on the open market. Trust me, you might be surprised!

At the end of the day, selling jewelry is a deeply personal decision. But if you‘re looking for a secure, painless, and lucrative way to turn your unwanted valuables into cash, Worthy.com should definitely be at the top of your list.

Have you sold jewelry on Worthy or another online platform? I‘d love to hear about your experience in the comments below! And if you found this review helpful, be sure to share it with your jewelry-loving friends.

Until next time, happy selling!