If you have jewellery lying around the house that you aren't going to wear, and you'd rather use the cash equivalent to bolster your kids' university funds, or to take the round-the-world trip you've always dreamed about, it's time to sell your jewellery. This is, however, easier said than done, but follow this advice and you should make a sale at the right price.

Know the worth of your jewellery. You can't attempt to sell your jewellery until you know it's worth, and until you know exactly why it has a certain value. For example, if you have a diamond ring, a consignment jeweller will want to know the age of the diamond, the cut of the diamond, the colour, the clarity, and the carat weight. This is information you should know in order to sell jewellery at the correct price. Of course, you may not know this information off the top of your head, in which case it's best to seek the advice of a professional appraiser.  

Make sure it is sale ready. Antique jewellery doesn't look its best when it's taken out of a drawer where it's lived for twenty years, so it's a good idea to prep your item ready for sale. A homemade solution of lukewarm water, bicarbonate of soda, and a little dish soap, will help to bring shine back to your jewellery. Use a very soft toothbrush to clean the item because hard bristles could cause scratches.

Knowing where to sell. There are a number of places where you can sell used jewellery. If you want complete control over the sale, you can attempt to sell it on an auction website. Just remember to set auction limits so your item doesn't sell for too little. If you have a simple band or necklace made of gold or silver, you can sell the scrap metal. This doesn't take into account the design of your item because scrap metal buyers will only be interested in the material worth of the jewellery. If you attempt to sell an item to a local jeweller, however, you could get a better price because they will appreciate both the material value of gold, silver, diamonds, and other materials, as well as the value of the jewellery design. Consignment jewellers are another option, but as they act as a middle man and sell the jewellery to someone else, you won't get the best price this way.