For a seller, New York City has the Diamond District in Midtown Manhattan, the same city rules in all five boroughs, and a clear set of rules from the Department of Consumer and Worker Protection (DCWP) that a licensed buyer of used jewelry must follow. Knowing those rules is the simplest way to tell a well-run buyer from one to avoid.
Best Place To Sell Jewelry is an independent referral service, not a buyer, pawnshop or dealer. When you call or send the form, we pass your request to an independent buyer in New York, who makes any offer. Asking is free and you never have to sell.
Selling jewelry in New York City? Call and describe what you have, or use the form on this page.
The Diamond District
The 47th Street Business Improvement District places the Diamond District in Midtown Manhattan, on 47th Street between Fifth Avenue and Sixth Avenue (Avenue of the Americas). According to the BID, it is the place with “the largest concentration of diamond and jewelry related companies and retailers”.
How it got there
The BID’s history traces the trade back to about 1790 on Maiden Lane in lower Manhattan. Jewelers moved to Canal Street and the Bowery in the 1920s. In 1923, real estate broker Fenimore Goode began building for the diamond trade on West 47th Street between Fifth and Sixth Avenues, and the move uptown grew in the 1940s, when European Jewish refugees, among them diamond merchants and artisans, opened businesses there.
Getting there
The BID gives these routes:
- B, D, F or M train to 47-50 Streets Rockefeller Center
- 6 train to 51st Street
- 1 train to 50th Street
- N, Q or R train to 49th Street
- M1 to M5 buses on Fifth and Madison Avenues, the M50 on 49th and 50th Streets, and the M7 on Broadway
Hours vary from business to business, so check with any buyer before you travel.
Selling in the district
A single block with many jewelry businesses can make it easier to get more than one offer in one trip. That is the district’s real advantage for a seller: comparison. Walk in with your list, your weights and your papers, ask each buyer for a written, itemized offer, and compare. The guide to jewelry buyers has the questions to ask.
Selling jewelry in the five boroughs
The city’s rules are the same in every borough: a buyer of used jewelry in Manhattan, Brooklyn, Queens, the Bronx or Staten Island needs the same DCWP licence and follows the same scale, ID and record-keeping rules.
Manhattan
The Diamond District is in Manhattan, but the city rules on this page apply to every licensed buyer in the borough, on 47th Street or off it.
Brooklyn
People search to sell jewelry in Brooklyn almost as often as in Manhattan. A buyer in Brooklyn must hold the same licence as one on 47th Street, post it where you can see it, and print the number on your receipt.
Queens
A buyer in Queens must weigh precious metal on a scale approved by the New York State Department of Agriculture and Markets and tell you the troy weight, exactly as in Manhattan.
The Bronx
Bring photo ID. A licensed buyer in the Bronx, as everywhere in the city, records its type and number, and you sign in front of the dealer.
Staten Island
A licensed buyer on Staten Island cannot resell the used jewelry they buy from you within 15 days, under the same city rules.
The NYC rules that protect sellers
DCWP’s Secondhand Dealer licence checklist and its inspection checklist for secondhand dealers set out what a buyer of used jewelry and precious metals must do. Each item below is a rule for the buyer, with the citation DCWP gives.
| Rule | What it means for you | Source |
|---|---|---|
| Hold a Secondhand Dealer General licence | A business that buys used goods needs one; buying exclusively online is exempt | NYC Admin. Code 20-265 |
| Post the licence and complaint sign | You can see it where customers stand | 6 RCNY 1-03(a) |
| Print the licence number | It is on your receipt | 6 RCNY 1-05 |
| Have a scale and tell you the troy weight | Your gold, silver and platinum are weighed and the weight stated | 6 RCNY 3-81 |
| Use an approved scale | State-approved, 0.01 troy ounce divisions or smaller, Class II or III | 1 NYCRR 220.1(a) |
| Check your ID | Its type and number are recorded; you sign in front of the dealer | 6 RCNY 2-101 |
| Record the purchase | Item, metal and stones, marks, your name and address, date and time, kept 3 years | NYC Admin. Code 20-273(a) |
| Keep electronic records of precious metal | Digital photos of each item on LeadsOnline, kept 6 years | 20-273(b); 38 RCNY 21-04(c), 21-07(b) |
| Not buy from a minor | The buyer cannot buy from a minor | NYC Admin. Code 20-268(b) |
| Not resell for 15 days | The buyer cannot resell it within 15 days | NYC Admin. Code 20-268(d) |
Acceptable ID is an official document with a signature from a US, state, county or city government, a public agency, or an employer, or a numbered police, fire or postal badge. A photocopy of your ID is not enough.
Pawnbrokers are licensed separately
Lending money on pledged goods needs a separate DCWP Pawnbroker licence. If a business offers a loan when you came to sell, you are talking to a pawnbroker, and a pawn is not a sale. The pawn or sell article explains the difference.
What to sell where in New York
- Plain gold, any karat. A specialist gold or jewelry buyer; see sell gold jewelry.
- Diamond earrings, pendants and bracelets. A buyer who values the stones as well as the metal; see where to sell diamond jewelry.
- Estate and antique pieces. An estate jewelry buyer, or an auction house for important pieces; see sell estate jewelry.
- Signed designer pieces. A buyer who resells designer jewelry; see designer jewelry.
- Broken gold. See scrap gold.
Where to sell jewelry in NYC: a short plan
- Sort your pieces and list them with their stamps and your own weights.
- Work out the melt value of the gold: weight in troy ounces x karat divided by 24 x the day’s spot price.
- Gather receipts, appraisals and grading reports.
- Bring government-issued photo ID with a signature.
- Visit or call more than one buyer, and look for the posted DCWP licence.
- Ask for the troy weight and a written, itemized offer.
- Compare, decide, and keep the receipt with the licence number on it.
Want an offer to compare before you make the trip? Call, and we connect you with an independent New York buyer.
Not in New York?
The line is answered from New York, and you can call from anywhere in the US. The city rules on this page are New York City’s; other cities and states have their own, and this site does not describe them. For small gold pieces near home, a local independent jeweler can be an honest option to compare.
Questions people ask
Where is the best place to sell jewelry in NYC?
A licensed buyer who weighs your metal on an approved scale, tells you the troy weight, and gives a written, itemized offer. The Diamond District on West 47th Street puts many jewelry businesses on one block, and the same city rules apply in every borough.
Do NYC jewelry buyers need a licence?
Yes. A business that buys used goods in New York City needs a DCWP Secondhand Dealer General licence, posted where customers can see it, with the number printed on receipts. Businesses that buy or sell exclusively online are exempt.
What ID do I need to sell jewelry in New York City?
An official document with a signature from a US, state, county or city government, a public agency or an employer, or a numbered police, fire or postal badge. You sign in front of the dealer; a photocopy is not enough.
Why does a NYC buyer record my details?
City rules require a buyer to record every purchase: the item, its metal and stones and marks, and the seller’s name, address and description, with the date and time. Records are open to DCWP inspectors and the NYPD.
Can I sell estate jewelry in NYC?
Yes. Estate jewelry is sold to the same licensed buyers under the same rules, so ask any buyer how they value makers, period and stones as well as metal.
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