Contributor, Benzinga
February 8, 2022
Worthy
Overall Rating:
securely through Worthy's website

Worthy, a renowned diamond engagement ring and jewelry auction marketplace that brings together buyers and sellers of luxury products, is a leader in the second-hand luxury goods market. Sellers who use the site can earn the fairest possible value for their jewelry while depending on Worthy’s stellar customer service. Since many experienced and professional buyers are bidding on your piece of jewelry, you can be sure you’re going to get an excellent offer.

Reviews on Trustpilot give Worthy an average consumer rating of 4.7 from over 2,200 reviews, indicating that most customers love their experience at the company. Worthy’s website is easy to navigate, and its customer-friendly procedures as well as safe and secure process increases its credibility in comparison to other e-commerce jewelry auction platforms.

Best For
  • Anyone who wants to sell luxury jewelry or a diamond
  • Divorced people, older millennials through baby boomers, heirloom owners
  • Luxury watch owners or resellers
  • Diamond dealers, wholesalers and retailers
Pros
  • Great reputation with many positive reviews featured in esteemed publications and websites like Google, SiteJabber and Trustpilot
  • Simple, intuitive website
  • Fast, safe and transparent service
  • Free insured shipping and reporting
  • Getting highest auction market value
Cons
  • Must ship your item away, which could be stressful but is covered fully by their insurance to prevent any losses or damage.
  • Some jewelry valued under $1,000 may not qualify for auction and may be returned to seller

Worthy Ratings at a Glance

Worthy’s Customer Service
User Benefits
User Experience
Benzinga’s Overall Rating of - The Best Way to Sell Diamonds and Jewelry

Worthy Ratings at a Glance

What Does Worthy Do?

Worthy is a jewelry selling partner dedicated to providing its sellers with the ultimate diamond selling experience. Worthy’s approach is unique due to its auction process that gives sellers exposure to  Worthy’s proprietary audience of over 1,000 professional diamond buyers.

This method allows buyers to compete directly against each other to get you the highest price for your diamond jewelry in one fast auction. Worthy’s user friendly website, responsive customer service team and transparent pricing warrant an excellent 4.5 star rating from Benzinga

How Does Worthy Work?

Worthy’s diamond selling process is easy, safe and fast. It is simple to register and auction your jewelry right on their website. Here is a basic outline of the overall process:

  • Submit your diamond jewelry on Worthy’s website 
  • Ship your jewelry to Worthy via a free FedEx pickup, or drop it off at a staffed FedEx location. Worthy pays the shipping cost, and the valuables are insured by brokers at Lloyd’s of London.
  • Worthy cleans, photographs, and sends your jewelry for a professional certified grading to maximize its auction value. 
  • Worthy lists each piece of jewelry for auction with a description, photo, and certified grading of the item.When the listing goes live, buyers can start placing their bids on the valuables.
  • The Seller sets a minimum reserve price at which they are willing to sell their diamond.
  • Bidding goes live, and the seller can watch live bidding online..ion is live, the seller can also watch the process through a live online display.

The seller gets paid the highest bid quickly through bank transfer, Paypal, or check.

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Is Worthy a Trustworthy Company?

Worthy is a safe, insured, and trustworthy website. Their goal is to help you sell your engagement ring or jewelry for the highest price. And because Worthy’s fee is based on a percentage of the final auction price,the more the seller makes, the more Worthy makes, too.. It’s a win-win for Worthy and for the seller and a true partnership.

Worthy, as a startup jewelry auction site, was founded in 2014 and has raised more than $73 million in investment capital so far. The company has a stellar A+ rating with the BBB and is known for their outstanding customer service.

In addition to thousands of customer testimonials and reviews with a 4 or 5 star rating, Worthy has been featured in legendary publications like the New York Times (twice), The Washington Post, Entrepreneur, and more. They also have a devoted following of influencers and bloggers around the web.

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What Percentage Does Worthy Take in Fees?

Worthy gets paid a commission on your jewelry sale based on the final price of the sale.

Here is Worthy’s fee schedule:

Winning BidCommision Fees*
Up to $5,00018%
$5,001 - $15,00014%
$15,001 - $30,00012%
$30,001 and above10%

* For Jewelry Box (3 or more valuables), a flat fee of 18%* applies.

There is never an out-of-pocket cost to the seller. Worthy’s fee is deducted from the final sale value before the seller is paid out.

In the event that the item does not sell at auction, there is no fee for the service. And other than the commission fee, there are no fees or costs to the seller.

What Do Worthy’s Customers Think of Them?

Worthy’s customer satisfaction is what keeps driving their business and keeps them thriving. And Worthy has customer satisfaction galore. From the initial jewelry submission form, the shipping experience, their hands-on customer service and the auction itself - Worthy keeps generating rave customer reviews.

Here are some of the things real Worthy customers have to say about them:

  • “Very smooth process and transaction. They kept me updated about every step. I was very happy with my sale. 5 stars.” - Wendy, Trustpilot, 1/30/2022
  • “Once I sent in the jewelry, they took care of everything. Worthy was in constant contact and I never felt in the dark about what was going on. Planning on sending in more pieces after the great experience. 5 stars.” ES, Trustpilot, 1/30/2022
  • “Once I sent in the jewelry, they took care of everything. Worthy was in constant contact and I never felt in the dark about what was going on. Planning on sending in more pieces after the great experience. 5 stars.” - Kris M., Trustpilot, 1/30/2022
  • “The entire process was so easy. Someone was in contact with me via email every step of the way. I was shocked with the amount that I received for my ring. I would highly recommend others to use worthy. Thank you! 5 stars.” - M. Knox, Trustpilot, 1/28/2022
  • Awesome!!! Totally great experience from start to finish! I was informed of the status of my earrings at every step of the way! Great communication! And my item sold for more than we had expected! Worthy is the BEST! I would recommend then to anyone selling a valuable! 5 stars.” - T. Mike, Trustpilot, 1/28/2022

You can see all of the reviews of Worthy featured on TrustPilot.

Benzinga’s Ratings of Worthy’s Auction Services

Worthy’s Customer Service

Worthy is known for its outstanding customer support. From the moment you start filling out the online form, you can get help with any issue you might face.

Once your form is submitted, you are contacted by a member of the Worthy team, and communication stays open until your item is sold and the payment is completed. The company can contact you over chat, email, and phone.You can also contact Worthy’s support team by clicking the “W” letter symbol on the bottom right corner of their website. Their website also features an extensive frequently asked questions section where you can find a lot of valuable information. Worthy’s blog is filled with topics about jewelry, diamonds, divorce, finance, and other information their customers find helpful.

User Benefits

One of Worthy’s main benefits is that you get paid fast in the manner of your choosing. Sellers can  choose how they’ll receive payment from options including wire transfer, check, or Paypal (Paypal not available for transactions larger than $5,000).

Payments are processed between one and five days following a successful auction. In some cases, you may need to verify your payment information over the phone after the auction. In that case, payment may be delayed until Worthy’s customer service is able to reach you to complete the verification step

User Experience

From creating accounts to listing products, the intuitive Worthy.com platform enhances the selling process and is a great user experience for the seller. Key functionalities are clearly labeled, allowing easy navigation from one page to another. The website has a clean feel to it, making the experiences of navigating from one page to another easy and seamless.

Worthy vs. Competitors

Few of Worthy’s competitors offer the combination of user benefits and ease of selling that Worthy offers its sellers. Worthy’s competitors function more like pawnbrokers who are looking to resell your jewelry than the premium luxury goods experience that Worthy provides.

Selling jewelry through Worthy’s competitors takes longer,often involves face-to-face interaction, and most importantly won’t usually get your the highest price for your jewelry. That’s why Worthy remains a strong market leader in the diamond resale industry.

Benzinga’s Overall Rating of Worthy - The Best Way to Sell Diamonds and Jewelry

Worthy is one of the best ways for people to sell their diamond jewelry. The website is easy to navigate andprovides a fast, convenient, and valuable service for sellers. Worthy’s customer service, business practices, and many customer testimonials are a testament to how well Worthy performs its auction services.  

Worthy’s is transparent about their customer fees so there are no surprise costs to the seller. From describing and shipping your jewelry to its final listing, the process of auctioning jewelry on Worthy is intuitive, simple, and straightforward. Worthy is an excellent way to earn some money from your used diamond jewelry. 

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About Henri Kouam

Henri Kouam is an economist and machine learning enthusiast. He currently builds Machine Learning models to help clients across Europe forecast a range of asset classes such as cryptocurrencies while working with, the Nkafu Policy Institute, an African-based think tank to help inform economic policy. He equally works as a consultant for NY-based ”Global Wonks”, where he has named wonk of the week twice due to his actionable intelligence on North America.