The word “jewelry” is synonymous with class, elegance, and – perhaps most importantly – monetary value. The gold, silver, and ruby-red colors of many articles of jewelry means one thing to many people: the color of money, green. While many people enjoy using their jewelry for decoration, for ornamentation, and for treating themselves to a bit of luxury, many other people find that jewelry has a more economically practical purpose to serve.

It’s no coincidence that rich people use jewelry as a means to an end – increasing their cash on hand. Many people become rich precisely because they look for new, interesting ways to leverage the value they can offer to the world, and, where possible, they look to turn a profit. This is also the case with the world of jewelry, in which old, broken, or unused jewelry still services a purpose.

Why do rich people sell their jewelry? Stay tuned, because we’ll take a look at just a few of the reasons some people value the green more than the platinum-gray:

Reason #1: Turning a Profit

Jewelry, like many other valuables, is a commodity that often increases in value the rarer these commodities are found. Collectors understand the inherent value of something that is rare on this Earth, and jewelry is no exception.

Jewelry is rare because it is small and not so easy to acquire, but there are other factors that make jewelry valuable. The rarity of diamonds, platinum, gold, and silver make jewelry hard to come by, a bit of a pain to produce, and therefore, something worth selling for a high price.

Rich people who collect rare jewelry know, too, that this price can continue to drive upwards, even after a piece of jewelry is first sold. In fact, the world’s most expensive watch (according to Forbes, in 2008) was worth over $11,000,000 to an anonymous collector. What does that say about the viability of turning a profit on collectible articles of jewelry? The wise, savvy, and wealthy investor knows how to take jewelry and turn it into profit.

Reason #2: Cash in Hand

When there’s little else to turn to in order to generate quick, large amounts of cash, jewelry makes an ideal option for rich people – particularly unused jewelry. While many people aren’t always happy to part with their jewelry, selling a few unused pieces that included diamonds, gold, and platinum can turn into the down payment on a new luxury car or an even better jewelry investment.

Rich people know that turning money into more money means putting your money to work for you – and if jewelry isn’t earning you money, it’s just sitting in the safe or the jewelry box. Rich people know how to leverage this value and turn it into something else they can use. When credit is tight, cash in hand is always extra-valuable.

Reason #3: They Found Something Better

In addition to having cash on hand, rich people are also looking to make their possessions work for them – especially if they have no other use for those possessions. With the purchase of a new diamond ring or pair of earrings, an older piece of jewelry might become obsolete in the safe or jewelry box. Instead of just sitting there, the jewelry can be sold for a fair price, and that price can be used to acquire something else in order to enjoy its novelty.

Keep in mind that rich people have different financial minds than many of us. For you, $100 in the wallet might seem like a lot, but to a rich person, that might not even start to cover a Friday night’s worth of service tips. Buying and selling jewelry isn’t such a big deal to rich people, who can always buy more if they want, and they’re more willing to trade in something of value in order to get larger amounts of money for their time.

With all of these benefits to selling jewelry, it’s good to know that you don’t have to be rich in order to sell your jewelry. With an online precious metal broker, all you need is a computer and the jewelry itself – you can receive insured mailing in order to send your jewelry for appraisal and begin the process today.

The broker will take a look at the precious metals you have provided them – think gold, silver, and platinum, as well as rocks like diamonds – and then make you an offer for them. While you may not receive total market value for these commodities, you will still receive a fair offer because the precious metal brokers will be able to take these metals off of your hands and recycle them for industrial re-use.