Top 5 Online Jewelry Marketplaces for All Types of Jewelry
Published on: February 19, 2018
Last updated: October 23, 2020
If you don’t know yet where to sell your beautiful jewelry creation online, you’ve come to the right place! We’ve made a rundown of the best online jewelry marketplaces, so you don’t have to do the work anymore.
Online marketplaces are the new department store or department store 2.0, as others would call it. It can be a website, a mobile application or both, that serves as a point of connection between the buyer and the seller; hence, facilitating buying and selling activity by presenting the seller’s listings of products to the buyer. The founder of the marketplace doesn’t own any of the inventory. Those inventories are owned by the sellers who signed up to the marketplace and have, thereby, agreed to follow the marketplace’s rules and regulations.
Three Types of Marketplaces
Before choosing the marketplace (s) you think is right for you, it’s important to note the different types of marketplaces. This will help you align your efforts with your goals by choosing the ones that can drive your target shoppers to your shop. These marketplaces are:
A vertical marketplace offers industry-specific products or services from different sellers. For instance, a marketplace that only sells jewelry from different sellers or a marketplace dedicated solely to real estate listings and short-term stays like Airbnb.
A horizontal marketplace, on the other hand, sells a wide array of products to shoppers who share similar characteristics. For instance, a marketplace for car enthusiasts, photographers, and other professions, interests, and/or hobbies.
Why Sell Jewelry Online?
In this day and age of digital shopping, the jewelry industry has been slow in assimilating digital shopping trends; however, the industry is catching up. In fact, the online fine jewelry market and the online fashion jewelry market are both predicted to sparkle for the next 5 years beginning 2017, along with the continuous growth of the global jewelry industry.
The aforementioned reluctance was rooted in the fact that jewelry purchases, especially engagement rings and wedding bands, are always emotionally charged – an element that may be too difficult to satisfy online given the lack of touch when online retailing. This is where brand trust, shopper confidence, and shopping experience come in.
Being a successful online jewelry retailer requires you to be innovative and creative just like how Allurez proved a flourishing shift to e-commerce through advanced technologies like 3D printing and customization, simulating the in-store experience by adopting modern-day concierge, and a sophisticated website packed with high-quality images and easy navigation scheme.
Do you feel like a strategist?
Do you want a portion of the sparkling online jewelry market?
Achieving the nirvana of reading the shoppers’ minds, needs, and demands begin with knowing and choosing the right online marketplace. And that’s what we’re bringing to you.
Where to Sell Jewelry Online: 5 Jewelry Marketplaces for Your Products
Are you a jewelry owner who wants to re-sell your authentic pre-loved jewelry collection? Truefacet is a second-hand luxury jewelry marketplace that provides an honest authentication process. You can sell it on the platform in three ways:
- List your item
Listing an item on TrueFacet is very straightforward. Simply choose the option that best described your item. For instance, if you’re listing a pair of earrings, you’ll be asked to provide the dimension of the pair, choose the right metals (rose gold, yellow gold, silver), and the color of the stone among the options provided.
Pricing your item is also relatively easy, as shown in the image below. Simply enter your desired pricing based on the item’s perceived value, and you’ll get to see immediately how much you’ll earn once it’s sold.
Truefacet gets 15% of your asking price when the item gets sold; however, your inputted price is not final; the experts behind the marketplace will double-check the price to ensure fair pricing for both the seller and the buyer. The example below shows that for an asking price of $5000, you’ll get to earn $4250 while Truefacet will get $750.
Finally, when you list your item on their website and a buyer purchases it, you have to send the sold jewelry to Truefacet so that their in-house gemologist experts can authenticate the item including any of its associated certificate of authenticity. When proven authentic, the item will be sent to the buyer; otherwise, it will be returned to you.
- Use a modern-day concierge
If you’re a busy person and you want to save time, you may choose to list your item via its consignment program. Simply complete the Consignment Request Form found on their website, as shown below, and one of their associates will contact you, together with a prepaid shipping label so that you can send your pre-loved jewelry pieces to them. From there, Truefacet will take care of everything for you, including photography, item appraisals, and an optional valuation, all the way through listing the item itself.
Similar to the listing process, Truefacet will assess the price of your item, this time based on the condition of the jewelry, the model, brand, and supply availability among others. If you choose this process of listing, make sure that you’ll not ask for the product back within 180 days as Truefacet asks for 180 days for them to sell the item. Should you need them to have it returned to you within that timeframe, you’ll be charged $20 for the shipping fee. They will return the unsold item to you for free outside the minimum holding period. When sold, you’ll get to earn 75% to 85% of your sales price.
Lastly, you can take advantage of their trade-in program and trade your jewelry and watches to get the best value. By trading in with Truefacet, you will receive the best price for your trade-in and have access to expert concierge services throughout the process.
To begin your trade-in, you just have to simply complete their trade-in form, as shown below.
Wanelo (Want – Need – Love) is like having a mall on your phone. It’s a global, social marketplace that’s dedicated to coveted beautiful items, curating, and eventually buying it, as shown in the image below.
Currently, it houses more than 550,000 stores and 30 million products owned by big brands, independent sellers, and boutique owners. Think of it like Pinterest; it allows you to curate your favorite items and follow stores and brands you like. Unfortunately, selling directly on Wanelo is only available to select big brands and merchants unless you’re a Shopify store owner based in the US.
Yes, you read that right!
The installation of this channel serves as your application to the Wanelo platform. It will put you on the waitlist of sellers wanting to sell in its marketplace and will automatically sync your Shopify site and import your jewelry items to your Wanelo store page while waiting for the approval of your application. As soon as you’re approved, a notification will be sent to you, and you’ll get to sell directly in Wanelo page. All purchases made on Wanelo will be sent to your Shopify dashboard so you can process it from there. It’s that easy and convenient.
Shopify states that the integration was a result of users’ demand for a convenient and simplified way to shop. Given that users/shoppers spend an hour curating and browsing on Wanelo, they opted to launch the sales channel application to permit users to buy the item as they see it via Wanelo’s site.
The Wanelo sales channel application is free of charge; however, you will be charged a 17.1% commission fee on all fulfilled orders + a 2.9% processing fee (replacing Shopify’s processing fee) on top of the total order cost. All fees will be taken out automatically from the order subtotal, which means you don’t pay Wanelo unless you make a sale. Click here for Shopify’s pricing plans.
1stdibs ‘is the world’s leading online marketplace for the most beautiful things on earth.’ With brands and creators like Cartier, Tiffany & Co., and Harry Winston among many others, it’s guaranteed that almost every jewelry connoisseur will find it difficult to resist the temptation to shop. If you’re a collector, a designer, or owner of premium jewelry boutiques, 1stdibs will surely have a spot for you. Check out a few of the jewelry pieces listed on its platform.
Since 1stdibs caters to a highly-targeted global audience, it carefully and meticulously selects galleries, collectors, and dealers. If you think you meet 1stdibs shoppers’ rich taste, simply complete the application form. An expert from 1stdibs will review your application based on the proof of merchandise you’ve attached to your application form. If they deemed that you meet their qualifications, you’d be selected as one of the prestigious dealers.
Unlike Truefacet, you have the freedom to set the price for your item without intervention from 1stdibs; however, a buyer can make an offer to you, and you can make a counteroffer. The final price depends on your agreement with the buyer.
Please take the time to read the user agreement to know the do’s and don’ts. For instance, using seller/buyer information found on the site to pursue a transaction outside of 1stdibs is prohibited, and 1stdibs may charge either party as a way to recover expenses incurred in implementing and monitoring 1stdibs policy. Click the link below for more information on selling in 1stdibs.
Etsy is a global marketplace for one-of-a-kind, creative, and handcrafted goods. It has more than 54 million registered users and over 2.5 million active sellers globally, to whom 50% of Etsy’s revenue is coming from. The platform has more than 45 million products. It’s an oversaturated market, especially for jewelry. A quick search using the keyword ‘jewelry’ will bring back nearly 18 million search results. There are too much noise and competition that you need to be strategic and patient for your listings to get found by your target shoppers.
Opening your Etsy store is super easy. Simply sign up and choose a unique name for your shop, upload your listing photos, and you’re done.
The most important thing to consider, aside from the keywords, is the listing process and the quality of your product photography. In fact, based on this Etsy survey, 90% of Etsy shoppers, as shown below, revealed that the quality of product images influence their buying decisions.
Hence, it’s not a surprise that the quality of the product photo is one of the factors in getting found in search. This is encompassed in the Listing Quality factor where Etsy’s algorithm determines how well an item does in search based on the frequency of likes/favorites and shoppers’ engagement with the photo of an individual item.
To increase your Listing Quality score, you have to encourage shoppers to click, view, and favorite your product photo (and hopefully, this will lead to a purchase). You can achieve this level of interaction by presenting clear and professional-looking jewelry product images.
Unlike other costly online platforms, selling on Etsy is probably the cheapest. It charges you US$0.20 per listing item. This listing will last for four months, after which, you can renew the said listing for the same price for another four months. A listing fee is billed to you whether or not you sold the item.
If you’re on Pattern, you can also list there your products already listed on your Etsy shop without incurring additional listing fees. Furthermore, product listings that are only available on your Pattern site do not incur a listing fee. This is because Etsy charges you $15 monthly after the 30-day trial to have a Pattern site.
Pattern is an additional Etsy sales channel where you can build your own website and brand. You can have an Etsy shop and Pattern at the same time.
Another fee involved is the transaction fee. When you make a sale, a transaction fee of 5% of the total displayed price of the individual item plus the gift-wrapping cost (if any) will be added on top of the listing fee along with the payment processing fee. The payment processing fee varies based on the location of the bank.
Since Etsy went public, there have been a lot of changes in its fee structure. While it started with Etsy shop alone, now they have Pattern and Etsy Plus, which is a $10 monthly subscription-based packaged. Read Etsy’s Legal Fees and Payment Policy here to know more about its updated charges and advertisement fees.
Last but not least. If you’re serious about luxury, where else should you go? You found it. Dubbed an ‘eBay for the super-rich’ by the South China Morning Post – Luxify. My Fashion Republic Group acquired Luxify in 2019. Since the acquisition, Luxify now focused on three main categories such as luxury watches, jewelry, and designer handbags.
If you want to sell luxury experience through your pre-loved/pre-owned items, you’ll surely browse through its largest collection of luxury items with astonishment. A quick browse on their page makes you feel like you’re in a shopping haven. Why not, with its over 60,000 luxury items carrying a total value of a whopping $160 billion, it’s difficult not to call it as such. If this is not a shopping haven, we don’t know what is.
Before you get excited about becoming part of ‘Asia’s leading luxury marketplace’, take note that Luxify sells a luxurious lifestyle to a highly-targeted audience. It connects affluent buyers in Asia to a carefully selected set of luxury dealers. If you think you this is your tribe and you’re a professional luxury seller (Luxify doesn’t work with private sellers but feel free to contact them for more details), you can create an account and start selling. The selling process is simple.
- First, list your products. Don’t forget to choose between their three categories and make sure to categorize them correctly.
- Second, you will receive a device to authenticate your products. All payments, shipments, and deliveries are fully automated.
- lastly, once there’s a buyer for your product, Luxify will pay you directly and automatically into your bank account. You have to send the product as soon as possible to complete your payment. Your payment will be in a “pending” status until the buyer received the product.
To create a Luxify account, simply complete the application form, as shown below. A concierge will review and evaluate your application within 48 hours. An email notification will be sent to you when your application was approved, and only then you can start listing your luxury (jewelry) items. You can list your items manually or have it automatically imported from your online store to Luxify’s platform.
Luxify started operating using a subscription plan pricing model and doesn’t take commissions. This might or might not change after the acquisition. If Luxify is on your radar, check the website regularly as some information on the website is still pending.
Ready to Sell Jewelry Online?
And there you have it! Whether you’re selling luxury items, big-ticket purchases, or handcrafted fashion jewelry, there is always a place for you on the internet. You just have to be strategic, open to innovations, and creative.
Do you know other online marketplaces that we can share with other jewelers? Which jewelry marketplace are you on right now? Feel free to share and comment below!