Featured How best to sell this 12 pc sterling flatware set --Ebay? Facebook?

In a bind on how best to sell something.

This flatware was a family set, I mentioned it briefly in another post. Gorham in the Rondo pattern.

When we moved mom here 9 years ago (mom has since passed) I grabbed this set from her home rather than having the estate sale company sell and take half. In my closet all these years. I have one brother, no one wants the set for use, and I had the idea to sell and split all proceeds between Mom's 3 grand kids. Was fairly confident the set would sell for $1,500, just based on sterling weight, even if it was melt.

The solid sterling silver here (spoons, forks, some full sterling serving utensils) is 3 lbs 14.9 oz = 1782 grams pure sterling.

There is also 1 lb of stainless top/sterling handled serving pieces AND 1 lb 14.9oz sterling handled knives. These stainless/sterling pieces = 1329 grams.

Appears to be a complete 12 pc set, have one question about that. 8 forks are 7 1/4th inches and 4 are 7 1/2. It's so close I have to think it was some kind of goof. They all look/feel like dinner forks. If we can call those all dinner forks, it's a complete 12 pc place setting plus serving extras.

I realize it might be melt, which is a bit sad, but want to sell. So doing some research under scrap, Ebay under SOLD -- 4 lbs of clean unweighted sterling (sold as scrap) easily seems to sell for $1,500. And that does not include the 1,329 grams of weighted pieces here.

And anyone spending $1500 on Ebay is also paying shipping PLUS tax, another $150+ -- so buyers seem happy to pay $1650 or more for just the pure sterling portion of this... as scrap (not including the weighted which would some amount extra.)

Yet the most I can get at two melt places with in 15 miles of here is $900. What am I missing?

I'm set up to sell on Ebay, but of course then taxes/fees. Blah, thought this was going to be easy. Go ahead and list on Ebay?

 

that's a tough call....... 900.....leaves a lot of meat on the bone...... too much !!

 

well silver is something I know very little about. But if it were me, I would sell locally, take the money and run. Never know if the buyer will say they never got it, even if it was delivered, they can say it is not as described and want a refund, say they changed their mind...

Whatever you do, much good luck and let us know.

 

ya , selling locally ...... a preferred option... even at a slight discount !!!

but maybe , not to those melt guys!!

 

Dinner forks generally run over 7-1/2", usually around 8" - 7-1/4" would be a 'place fork' (really/just a smaller dinner fork), suspect the 7-1/2" may be place forks as well, perhaps purchased at a different time. My Mom's Towle 'Candlelight' set has an older dinner service for 6 with 7-7/8" forks (9-3/8" knives), combined with a bit newer place service for 6 with 7-1/4" forks (8-5/8" knives), all other pieces the same size...

~Cheryl

 

Should mention that if you choose Facebook Marketplace, be sure to use a police station 'safe exchange' spot...

~Cheryl

 

Have sold sterling on ebay in the past without a problem. Always did better than with my local buyers, even with fees. Have to preface this with the fact that I have not sold any in several years so can't entirely vouch for it. Have been meaning to send a lot to Midwest Refiners but have never gotten around to it. Based on recommendations here, you would do even better with them.

 

Direct to a refinery would net the best profit, if you have a refinery and they're legally allowed to buy from private individuals. If you sell on eBay you're opening yourself up to scammers and eBay will want their (big, fat) cut of the proceeds. I'd sell directly or on Marketplace for cash and carry. Pickup/sale in a police department parking lot.

 

There is a silver refinery near me that pays 90% for sterling silver. You can mail them your silver, if desired. Sent me a message and I'll pass along the info to you.

 

oh, I forgot....you can sell up to $5000 on eBay before they send you a tax form. That ends this year.

 

Can someone explain how this refinery things works? I never heard of it before.
Thanks for any info.

 

they do the melting down...so no middlemen....like jewelers or dealers..

 

Oh thanks Komo. I will have to learn more about this because I never heard of it before.
Time for some relaxing now.

 

eBay takes a good 15% of the sale price PLUS the shipping costs, and on the sales tax too. I'm guessing their fees would be over $200, and then you'd have to put it into the hands of the US Gorillas Soccer Club ...uhmmm USPS. AND be at the mercy of scammers.

If no refineries, is there a local auction house? The selling price and fees wouldn't be much different, but security would be their headache. The seller gets paid even if the USPS goes postal on the package or some scammer tries something skeevy.

 

I very much appreciate all the responses. Still sorting this out! Will report back.

 

Where are you located. I might be interested. Is it a full set?

 

A - Offers to buy, sell or trade by individuals and/or dealers are not permitted in any way, shape or form in threads and/or posts. If you wish to make such an offer, contact the other party by Private Message or email.

 

Sure

 

Considering you have 1782 grams plus the handles 19 grams each dinner knife 12 grams for smaller handles $900 is not a good offer. I have a guy!

 

Update.

I listed this on Facebook marketplace today and had two interested buyers in 15 minutes. One wanted me to ship, no thanks. I listed for $1,200 for a quick sale (recall the gold buyer's top dollar was $900). Went with buyer #1. I put in the Facebook ad that it was "cash only" and that the silverware could be viewed at my house, but for payment, we meet at my bank. The buyer had kind of a mafia-like name, "Sonny"... (plus a tiny bit of a New Jersey accent on the phone) so I felt a little nervous, but then he said we could "just skip the house and meet straight at the bank", it seemed safer.

Of course a few small snags. I get in my mom's car to bring silverware to bank, and car is suddenly making this horrible noise, so much that I didn't dare drive it. I bicycle a lot, so bicycled over with the sterling in the box, luckily just a few blocks away. Initially I thought I would pop the car trunk, let the guy examine everything (maybe he'd have a scale?) and then we'd go into the bank. I wasn't going to do that in my bike trailer --I'd look like I was homeless or something. So got there early, locked my bike, and waited in the bank.

Luckily there was this chatty bank employee I kind of know from banking and I blurted the whole thing out ...Facebook...mom's sterling...paying in cash...want to make sure not counterfeit... The employee says, "No problem!" and sets me up in a comfortable chair, even offered water. "Sonny" shows up exactly on time, he looks at the set, picked up one spoon, no counting of anything, no weighing. He said, "I'll take it." Hands me the cash, I deposit it. (Side note: I learned that the bank puts all cash deposits in a machine that will flag anything counterfeit.)

I said to Sonny, I don't even need to know what you are going to do with it, and he interrupts and says, "Oh, I'm going to use it. We eat with sterling and I think this might replace the set we currently have. I really like the pattern."

Realize this might be BS, but sale already done, so why make up a story like that. Also he didn't bother with any weighing, so I think it might actually be true. This was one thing I hoped for but was sure would not happen. That the set would stay together!! It was in excellent condition, with a lot of matching fun pieces. Mom's set.

Was SO ready to sell this. Heck, I'm not even keeping the money. $1,200 divides evenly between 3 grand kids and I get my closet shelf back.

The End.