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Saturday, July 23, 2011

Why can't I sell my sterling silver for higher than scrap value?

The wild commodity silver market has triggered many questions to me from blog readers who are thinking about selling their sterling flatware and hollowware pieces. Many have questioned why they could not get a better price. We've been watching sales on eBay lately and it seems that many sellers don't even get the scrap value for their sterling. Here's an article we wrote recently:
As a reminder, we don't think folks should ever sell their sterling unless they really need the money. In general, the price received will always be disappointing, especially if the seller expected to get somewhere close to retail or close to the prices charged by companies like Replacements, Ltd. We think the value of sterling as a personal family heirloom is much greater that its value on the used market and it should be handed down through generations.

If you must sell, be patient. Get offers from several buyers and try to find the buyer who wants sterling for personal use. Such a buyer often is willing to pay more.

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1 comment:

Sharon said...

I talked to an antique dealer, she only wanted to buy sets that had old fancy designs. Just the way she talked, she wasn't going to be a big spender.

I talked to a coin & jewelry place, he pays less than what the foundry gives him(he has to make a profit too)so.... maybe sell the stuff on one of the internet venues if you want a better deal.

I will be selling my "poor" pieces to the coin guy, as my son can use the cash for his move and it can't wait.