Have you decided to sell your jewelry? You probably need some liquidity for your needs. But are you really sure it’s worth it? Before selling jewelry, read this article: the 5 things to consider before selling your jewelry. And while you’re at it, also take a look at this article.
Read the future
Ok, if you have decided to sell your dear jewels there must be a serious reason. But first of all you need to make a careful examination of your prospects: are you so sure that there are no alternatives? Do this experiment: write on a sheet the three possible scenarios of your balance sheet for the next six months. The first very favorable, the second more neutral and the third decidedly negative. Which of the three is more likely? How many resources do you need to stay afloat? And will selling jewelry solve everything?
Watch out your outgoings
Often we take for granted expenses that we would not need. Simply, these costs are the result of old habits, or are the result of subscriptions that you subscribed to when things were better (true Netflix?). If you have a bank account (and you probably have one), review the expenses for the past three months. You will find that there are avoidable and other expenses that can be reduced. Starting from what the same current account costs (look at the costs that your bank charges you every year). You can probably eliminate some unnecessary expenses, or change banks (and keep your jewels).
Collect your credits
Do the math for what you deserve. Are you sure that in the coming weeks you won’t have any more income? Often there is a tendency to emphasize a negative situation without considering the possibility of a positive evolution of events. For example, does anyone owe you money, or can it make up for your temporary lack of liquidity?
Delaying payments
Also consider another aspect: often a creditor can safely wait to be repaid even after the date that was established. The important thing, for those who have lent you money, or must receive the installment for rent, leasing, mortgage, etc., is the security of getting what they are entitled to. After all, a delay is not the end of the world.
Lend your jewels
Instead of selling the jewels, did you think that you can simply lend them in exchange for some money? There are banks or financial companies that hold the jewels in exchange for a value, usually much lower than the real one. In return, you can repay the sum by paying a fixed amount in installments. Of course, if you don’t pay, your jewelry will be sold at auction. But if you are sure that you can repay the loaned amount, you can consider this possibility.
