Best way to sell silver in bulk

[ssharktu17]

I have a large amount of sterling silver flatware some that may be collectible that I would like to sell. Probably close to 10,000 ozts. Is it a good idea to bring this to a refiner or try and get more on a market somewhere?

[ssharktu17]

I dont see why anyone would sell on ebay with the 13% fee plus the risk of shipping it makes no sense.

[Downs523]

Only sell on Ebay when they have their promotion £1 max selling fee. Usually every 3 weeks 

[MintageSeller]

It would probably be best to split it into lots. I’m sure you can find a local buyer or eBay buyer willing to pay more per item. I’d say organise your items into cleaner bundled lots. I’m sure you have some nice pieces worth more than silver value.

[Martlet]

That's a lot to shift, spending lots of time splitting, recording, packaging.  I'd be looking for a dealer to take it in one go or at least advise on auctions or may be sale by consignment.  Might not get 100% the value but consider how much do you value your time? 

[DarkChameleon]

Just like sellers do on fleabay, bundle smaller amounts, even say 10 bundles should not be too difficult to sell, you can get the junk price and ask for that and then offers which give people the idea they are getting a deal if you accept less but make sure to reach what you want...IF they are higher quality then maybe talk to an auction room and see if maybe they could sell it al in one days auction.

[ssharktu17]

20 minutes ago, Martlet said:

That's a lot to shift, spending lots of time splitting, recording, packaging.  I'd be looking for a dealer to take it in one go or at least advise on auctions or may be sale by consignment.  Might not get 100% the value but consider how much do you value your time? 

Ya I suppose finding a dealer might be a good option. Consignment would probably be a huge hit considering I would take auction and consignment fees. A melter might get as high as 95% of spot? and that seems pretty unbeatable. I could also keep some of the really rare patterns and better names. 

I wouldnt think a dealer wouldnt pay that much because they are going to want to make a profit margin..  

 

[DarkChameleon]

4 minutes ago, ssharktu17 said:

Ya I suppose finding a dealer might be a good option. Consignment would probably be a huge hit considering I would take auction and consignment fees. A melter might get as high as 95% of spot? and that seems pretty unbeatable. I could also keep some of the really rare patterns and better names. 

I wouldnt think a dealer wouldnt pay that much because they are going to want to make a profit margin..  

 

You could also check if a dealer might offer a better deal exchanging it all for thjngs they have in stock...depending if your selling for money or to add gold or .999 silver to your stash...that way you don't get cut up quite so bad....another option is to exchange or sell on here with other silver hogs but that is going to be higher postage costs and the potential to get ripped off....also might be harder unless you have an experienced ebay site for them to check up on qnd make sure you're legit as you are new to here.

[ssharktu17]

12 minutes ago, DarkChameleon said:

You could also check if a dealer might offer a better deal exchanging it all for thjngs they have in stock...depending if your selling for money or to add gold or .999 silver to your stash...that way you don't get cut up quite so bad....another option is to exchange or sell on here with other silver hogs but that is going to be higher postage costs and the potential to get ripped off....also might be harder unless you have an experienced ebay site for them to check up on qnd make sure you're legit as you are new to here.

Thanks for the feedback!  Ya I have come into some bills that I need to start thinking about paying off and I am currently not working so I do not have any extra income coming in, just savings. I am mostly interested in unloading a very large amount like probably all of it to one person or maybe break it in half.  I certainly wouldnt want to ship small quantities all over the place that would take a lot of time, shipping costs and risks. I also think I may get a better price selling a large lot than even selling many small lots especially with melters but maybe dealers also if they have deep pockets.

[DarkChameleon]

6 minutes ago, ssharktu17 said:

Thanks for the feedback!  Ya I have come into some bills that I need to start thinking about paying off and I am currently not working so I do not have any extra income coming in, just savings. I am mostly interested in unloading a very large amount like probably all of it to one person or maybe break it in half.  I certainly wouldnt want to ship small quantities all over the place that would take a lot of time, shipping costs and risks. I also think I may get a better price selling a large lot than even selling many small lots especially with melters but maybe dealers also if they have deep pockets.

Remember to call around and run dealers against each other, on 10,000 oz a small percentage can mean quite a few dollars...dealers will almost certainly melt down almost everything...shame to lose such a stash to the pot but when times are harsh....

[ssharktu17]

1 hour ago, DarkChameleon said:

Remember to call around and run dealers against each other, on 10,000 oz a small percentage can mean quite a few dollars...dealers will almost certainly melt down almost everything...shame to lose such a stash to the pot but when times are harsh....

I guess I should probably go directly to a refiner instead of a middle man if they are going to scrap it anyways. I saw a few online but not sure how reliable they are. Most claim to pay 90%-95%. Transferring this amount would also be difficult. 

[FrozenMojito]

With that much silverware I'd probably be calling some of the places in the London Silver Vaults https://silvervaultslondon.com and seeing if they'd give me a reasonable price

 

[ssharktu17]

2 hours ago, FrozenMojito said:

With that much silverware I'd probably be calling some of the places in the London Silver Vaults https://silvervaultslondon.com and seeing if they'd give me a reasonable price

Hmm Yes there are a few places here to like replacements.com that might be interested. Probably worth asking.

2 hours ago, FrozenMojito said:

 

 

[whuamai]

If you have time and want the maximum money for it then seperate them and sell slowly via ebay with special offer and on forums. If you need fast money and you are ok with getting less..then compare offers from dealers and sell there....

I guess if you sell some stuff here some members would be glad getting good prices and you would probably get more than from a dealer...

[ssharktu17]

8 hours ago, whuamai said:

If you have time and want the maximum money for it then seperate them and sell slowly via ebay with special offer and on forums. If you need fast money and you are ok with getting less..then compare offers from dealers and sell there....

I guess if you sell some stuff here some members would be glad getting good prices and you would probably get more than from a dealer...

Wouldnt I get much less doing that? ebay takes 13% right off the top and most sets go for about 10% below melt so thats 23% below melt.

[whuamai]

In my country and some other European country's ebay has special offers which only charge a fee from 1 to 5 euros. Doesn't ebay in the USA also have these offers from time to time? 

[ssharktu17]

1 minute ago, whuamai said:

In my country and some other European country's ebay has special offers which only charge a fee from 1 to 5 euros. Doesn't ebay in the USA also have these offers from time to time? 

Rarely and its only for 5 items maybe once a year.

 

[whuamai]

8 minutes ago, ssharktu17 said:

Rarely and its only for 5 items maybe once a year.

 

Damn...here it's every few weeks...

Then I would sell to the forum If you have time...wil bring you more than selling to a dealer.

[DarkChameleon]

1 hour ago, ssharktu17 said:

Rarely and its only for 5 items maybe once a year.

 

Right now I have a free fees, don't know if it's listing or final..was thinking of offloading some jewelry I accumulated that is worth a lot more then scrap.

[ssharktu17]

Well bad timing look at that plummet in spot price unbelievable almost.

[DarkChameleon]

12 minutes ago, ssharktu17 said:

Well bad timing look at that plummet in spot price unbelievable almost.

Always fluctuating....it will turn around...just find a place and get the most.

[ssharktu17]

22 hours ago, DarkChameleon said:

Always fluctuating....it will turn around...just find a place and get the most.

I guess no one here has had experience with scrap refiners?

[DarkChameleon]

2 hours ago, ssharktu17 said:

I guess no one here has had experience with scrap refiners?

I knew a few metal detectorists who had experience with refiners....maybe you can ask on there...metaldetectingforum

[ssharktu17]

3 minutes ago, DarkChameleon said:

I knew a few metal detectorists who had experience with refiners....maybe you can ask on there...metaldetectingforum

Hmm Ill check into that. I am surprised there arent more people here that use melters. Seems like it would be a pretty common thing to do especially with just scrap. 

[DarkChameleon]

22 minutes ago, ssharktu17 said:

Hmm Ill check into that. I am surprised there arent more people here that use melters. Seems like it would be a pretty common thing to do especially with just scrap. 

They tend not to buy scrap here, it's mostly bullion, collectable and historical.