What is the Best Way to Sell Silver?

When considering how to sell your silver, all avenues are not equal, and it really depends on what you are selling.  Assuming that you are selling an item that you perceive to be of value, the thrill of the same-day transaction with cash paid out in 24 hours may, at first, seem appealing but it is important to remember that metal dealers have three aims, characterised as ‘buy low, sell high and make as much money as possible’.

^{An Important George III six light candelabra centrepiece by William Bateman}

^{Sold for £44,000}

Therefore, as the seller, you might not be getting the best possible price for your item – indeed, you might be getting the lowest, in line with the live silver price charts known as the ‘spot price’ based on a second-by-second valuation of pure silver.

Pure silver, which is 99.9% silver and above, is found in silver coins and bars, and not cutlery, jewellery or medals. These are generally Sterling silver, marked as 925, which means that they are 92.5% pure silver and that 7.5% is another metal added to make the silver more durable, such as zinc, copper or nickel. This means that the piece is an alloy and would need to be melted down to be repurposed. As a result, the value of 925 hallmarked silver is taken to be 92.5% of the spot price of pure silver. Silver items may also be Brittania silver which is marked 958  and is an alloy with copper and 95.8% pure silver. Introduced in 1697 to replace sterling silver as an obligatory standard, it was used extensively in Britain and Ireland.

^{A Charles II silver footed porringer}

^{Sold for £4,000}

However, in the case of heirlooms, this scientific approach does not consider the age and rarity of the silver item. You may even want to ensure that your jewellery or silver items are bought by someone who will value them rather than melt them down for scrap.

A reputable auction house will be able to value your silver piece based on its condition, its hallmarks and whether it has been altered in any way.  Dawsons Auctioneers specialise in all manners of silver, be it 17^th, 18^th or 19^th Century items or contemporary designers such as Geog Jensen or Omar Ramsden. A piece by Tiffany & Co, for example will have a larger resale market than a silver object by an unknown studio.

^{A large late Victorian silver tray}

^{Sold for £3,500}

Our expert valuers can identify any counterfeit hallmarks and value your item confidently, letting you know if they consider it to be suitable for auction. You can either arrange a complimentary valuation through our website, or you can book an appointment at one of our weekly silver valuation days that take place in our Berkshire showroom or our Hampstead Valuation office.

Once your silver is valued and you decide to sell at a Dawsons’ auction, you can sit back and relax while we do the rest, making sure that your item is catalogued, photographed and marketed to a huge global audience. It is this global audience of collectors and enthusiasts that will be bidding competitively for your silver and will ensure that the best possible price is achieved.

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Is there a Market for Antique Silver?

Where to Sell the Family Silver

How to Tell if Antique Silver is Real

Are you considering parting with any family silver?

With access to a global audience of over 10 million bidders, Dawsons can secure the highest returns.

Get in touch with an expert Valuer for confidential sales advice, we would be delighted to help you:

0207 431 9445 / info@dawsonsauctions.co.uk