With the holidays just around the corner, most people could use some extra cash. And, selling your old gold, silver, or diamond jewelry is a great way to get it! You probably have a few pieces around that are broken or just simply aren't your style. Sell jewelry instead of letting it gather dust, and get some extra money for gifts and celebrations with friends and family. Here are some tips to help --

Learn About Karats

A karat is a measurement of purity for gold. One karat is 1/24 pure gold, and pure gold is 24K. That means that 12K gold jewelry is made with 50% gold and 50% of another metal like silver, zinc, or copper. Jewelry with a lower karat value is less expensive. It's also less vulnerable to scratches and other wear and tear since it has less soft gold. Gold below 10K can't be sold as jewelry.

Before you sell jewelry, sort your items by their karat ratings to ensure they will be weighed and evaluated correctly. Purity is often marked on the backs of items in karats.

Get An Appraisal

When you sell jewelry, you normally get paid for its metals and gemstones, not its beauty or craftsmanship. If an item is very ornate or made by a renowned company, the design could be more valuable than the gold it's made from. Many antique rings, necklaces, earrings and watches are also worth much more than the metals they contain. Most jewelry buyers have a certified, independent in-house gemologist that can appraise your pieces and will include these factors in their evaluation.

Gemologists determine the purity of metals. They also weigh jewelry and assess gemstones. A business with an on-staff gemologist is dedicated to giving sellers a fair price. For the best appraisal, provide as much documentation as possible, including receipts, certificates and manufacturer's information.

Decide Where to Sell

You can sell jewelry to a member of the jewelry industry or directly to the public online. You'll get a higher price by selling directly to others, but the process could take months. It might take even longer if your jewelry is out of style, broken, or worn. On the other hand, a business will buy any jewelry that has precious stones or metals immediately. Look for a buyer that offers receipts so you have a record of the sale in case anything goes wrong.