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At Midlife Divorce Recovery, we believe in rising above divorce in confidence and love. This is one reason we support Worthy.com, a trustworthy and legitimate online jewelry site. At Worthy.com, you can sell your wedding band, engagement ring, or other jewelry after a divorce, or even if you want to rid yourself of some of the bad associations during your marriage or want an upgrade. Here, we discuss who Worthy is, how it works, and what you can expect when working with Worthy.
Highlights of Our Worthy Review
Here are some of the most important things to know about this Worthy review:
- Worthy is a trustworthy and well-established site that has been featured in New York Times, Woman’s Day, and Entrepreneur
- Worthy only accepts jewelry valued at $1,000 or more
- Worthy uses an online auction platform, which allows sellers to get the highest market price for their items
- Worthy provides a free GIA lab report
- Worthy boasts high customer ratings and many favorable reviews
Below, we dive into more details about the pros and cons of Worthy and what to expect from the process of selling your jewelry through Worthy.
What is Worthy.com?
Worthy is an online jewelry auction site. It specializes in reselling jewelry at a competitive price. Unlike gold buyers, Worthy does not just give you a price based on the weight of the gold, platinum, or silver in your jewelry. Instead, Worthy gives sellers a free GIA certified appraisal. Jewelry buyers bid on the actual pieces of jewelry via an auction platform, which allows bidders to drive up the price for the seller.
Some of the most common types of jewelry sold on Worthy.com include:
- Diamond engagement rings
- Wedding jewelry
- Wedding bands
- Designer watches, including Rolex watches
- Gemstone necklaces, bracelets, and earrings
- Heirloom and estate jewelry
- Other gold, platinum, and diamond jewelry
Worthy has been in business since 2014 and boasts a Better Business Bureau A+ rating. You can learn more about Worthy by reading stories about the growing company from publications including New York Times, Washington Post, Entrepreneur, Reader’s Digest, and Crain’s New York Business.
How Worthy Works
The process of selling your jewelry on Worthy is similar to that of using other types of auction sites, but it has a few extra steps involved in the process because of its focus on jewelry. After creating an online account, entering your contact information, and describing your jewelry, Worthy provides a prepaid FedEx label. Sellers can either schedule a pickup or bring the item to a FedEx location to ship. Sellers pack the items themselves according to Worthy’s packing instructions, or they can request a complimentary shipping kit from Worthy. You send out the mailer, which provides tracking services and insurance up to $100,000. Worthy obtains a grading report from the GIA, the world’s leading independent gemological laboratory. Buyers are willing to bid with confidence because they trust the accuracy of the information provided in a GIA report. At this point, you can decide that you don’t want to move forward. If you do, you still get to keep the GIA report, which provides valuable information about your jewelry.
You set the price for your item and then sell it during an upcoming online auction. You get payment for the item after the auction closes, which can be as fast as 24 hours if you are paid through Paypal. Alternatively, you can be paid by check or bank transfer.
Worthy’s commission is taken out of the sale price. The amount of the commission depends on the sale price of the item and how many pieces you sell, with lower commissions for more valuable items, as described below:
| Sales Price | Commission Fee |
|---|---|
| Up to $5,000 | 18% |
| $5,001 – $15,000 | 14% |
| $15,001 – $30,000 | 12% |
| More than $30,000 | 10% |
| Jewelry box (3 or more items) | 18% |
Most Worthy sellers are able to complete the entire process within two weeks.
Selling Process Step-by-Step
Here’s a breakdown of the process with Worthy.
Step 1: Go to Worthy.com
Head over to the website’s homepage. Select your type of jewelry, then click on the Get Started button.
Step 2: Select Descriptions
Next, you will encounter a series of screens that will ask you for descriptions about your piece of jewelry. Select the setting, center diamond shape, and weight.
There are helpful hints and pop-up screens that give you more details if you’re not sure of the answers.
Step 4: Create an Account
Next, you will need to create an account by typing in your name and email address. You will also be asked when you want to sell your item and will need to upload one or more pictures of your item.
Step 5: Review the Submission
You have the opportunity to review the information before moving forward.
Step 6: Select Shipping Option
You can select either a FedEx pickup or drop off option. You’ll enter your address and get a few options for days and times that work best for you when scheduling. Once you make these selections, you’ll get an email with the FedEx mailing instructions and forms.
Worthy takes care of the shipping costs, as well as insurance through Lloyds of London. You’ll get a tracking number once your ring is in the mail, so that should make you feel safer about the whole process.
Step 7: Read More Information
On your review page, you can scroll down and read about the next steps in the process, including:
- Shipping
- Authentication
- Cleaning
- Beauty shots
- Grading at a third party lab
- Gathering buyers
- Setting your reserve and starting auction
- Watching bidding online
- Getting paid
You can also see what similar items have sold for.
Step 8: Personal Account Created
You will get a message from Worthy that explains a personal account has been created and where you can visit to check on the progress of your transaction.
You can check back on your page as the jewelry winds its way through the process. You should expect an email when your item makes it to Worthy’s facilities.
Step 9: Prepared for Grading and Auction
Next, you will receive a message from Worthy when your item has been graded and is ready for auction. You can open the report from your account and see a recommendation of the minimum price. Some sellers are surprised at this amount, but remember, this is the minimum price. Generally, you will want to price the item lower to entice more buyers to it. Worthy also guarantees you’ll get at least this amount.
At this point, you can decide that you don’t want to move forward. If you do, you still get to keep the GIA report, which provides valuable information about your jewelry. You can also use the information on the report to price-check the value on other sites.
Step 10: Live Option
Next, you will receive a message from Worthy when your item has been graded and is ready for auction. You can open the report from your account and see a recommendation of the minimum price.
Satisfied with this information, most people decide to move forward at this point. You have three options when selling your jewelry through Worthy:
The auction lasts between 2-3 business days. At the end of the auction, if the highest bid from the auction meets or exceeds your reserve price, your item is sold! If your reserve price is met, you’ll have an opportunity to review the highest bid and decide if you’d like to accept or have your item returned free of charge.
Step 11: Approve the Sale and Get Paid
Finally, click on “Approve & Get Paid” on your account. If you’re paid by Paypal, you can expect payment within 24 hours.
Pros of Using Worthy
Here are some of the benefits of using Worthy:
- Transparent process – Selling jewelry can feel intimidating at times, especially if you feel the other party knows more about the item’s value than you do. However, Worthy makes the process very transparent, from offering you a free GIA lab report, recommending a price to sell your item based on similar sales, and showing what similar items have sold for. You can also track your item and the selling process every step of the way.
- Convenience – You don’t have to visit a local jeweler or be limited to the local buying pool to sell your jewelry on Worthy. Buyers are worldwide, so you gain access to a bigger market while staying in the comfort of your own home.
- Fair price – Worthy offers you market price for your item (less commissions), which is what a willing buyer is ready to pay for an item from a willing seller. You don’t have to deal with scrap metal buyers who are willing to offer you just to melt down the item.
- Free GIA lab report – You can receive a free GIA lab report, which can help you see the value of your item and give you more detailed information to check prices on other sites.
- Industry knowledge – Worthy’s team understands luxury brands and their value.
- No hidden fees – Worthy covers all the extra, including FedEx transport, insurance, and the GIA lab report. The pricing process is transparent.
- Excellent reputation – Worthy has been featured by reputable publications, has an A+ Better Business Bureau rating, and hundreds of favorable customer testimonials. Lloyds of London insures jewelry in transit for the company and Worthy partners with GIA, the most reputable gemstone and jewelry grading lab in the world.
- Great customer service – Forget about chatbots and automated assistants. You can talk to a real person about the process at any time.
Cons of Using Worthy
Because Worthy is such a reputable site, its standards may be higher than others’. Worthy only accepts jewelry that is valued at $1,000 or more, which usually means a diamond center stone of .5 carats or more. While the process is pretty straightforward, it’s not as easy as going to a local jeweler or pawn shop and getting an offer right then and there, but you can expect to get more when you use Worthy. You might feel a little strange about sending expensive jewelry through the mail, but the free insurance should give you peace of mind. You will also receive periodic messages about the status of your transaction, which can provide greater peace of mind but may be a little taxing if you’re a busy professional.
What Others Say About Worthy
At the time of publication, Worthy has a 4.42/5.00 review with the Better Business Bureau.
It is accredited with the Better Business Bureau and has an A+ rating:
Worthy has an impressive 4.7/5.0 rating on Trustpilot, based on 2,497 reviews.
Here are some highlights about what customers had to say about working with Worthy:
Super easy experience. A piece of jewelry that has been sitting in a drawer unused for 15yrs is now cash in my pocket!
The customer service is incredible, and the experience is so easy. I loved this.
I was a little reluctant to sell my wedding ring set this way. Putting it in an envelope and shipping it made me really anxious. But it made it to them by the next day and they updated me every single step of the way. The local jewelry stores only offered me around $150 (originally paid $3k) and I made nearly 6 times that going this route. Very pleased with this process and I will 100 percent recommend this to anyone wanting to sell precious jewelry.
I had gotten two local offers on my ring, but I thought they were low. Although I had many doubts about mailing a ring, I wanted to see if I could get a better price for it. So I sent it to Worthy. I was impressed by Worthy’s process and communication throughout. It eased my reluctance. The process is very convenient. Although I did not get what I wanted for the ring, I chose to proceed with the sale due to the convenience factor. I like that it was my choice to sell and wasn’t bound to do so. I would recommend Worthy to doubters like me.
Abbey kept me updated via e-mail consistently through this process. She explained where my item was every step of the way and continued to contact me when she said she would. This was a very positive experience and I will recommend Worthy
The Bottom Line
Worthy is an excellent way to sell your unwanted jewelry. When you are selling expensive and sentimental items, you want to know that you are in trusted hands. With its high BBB rating, exceptional customer reviews, and relationships with reputable partners, selling with Worthy is a no-brainer.
