Assessing Value when You’re Selling Jewelry

I’ve been in this business a long time. People sell jewelry for many reasons but it seems strange to me how rarely someone actually thinks about the process. In order to get the most out of your jewelry, there are some things you should do. When selling old jewelry, it's important to assess its value, research your options, and understand the market. When you do that, you can set realistic expectations for the cash you’ll get and avoid some pitfalls. Let’s talk a little more about that.  

Appraisal

The best way to do that is to get it appraised. A professional jeweler can give you either a formal or informal opinion on the jewelry's worth. These appraisals take into account the precious metal, gemstones, craftsmanship, and overall condition. You’ll want to understand, of course, the actual precious metals value. This is sometimes called the melt value or the melt price. It’s a determination of value if the gold or platinum is melted down. This should be in the appraisal. If it isn’t, find someone else to appraise your jewelry.

Market Research

Compare prices of similar pieces to get an idea of the current market value. You can go online and search on websites like eBay or Amazon or even Etsy. You may not be able to get a perfect apples to apples comparison but you’ll be able to get a good idea. You can also visit jewelry stores and browse the products there. Naturally, you can also check the market for the materials. One particularly good example of that is the gemstone grading, which is discussed below. This is also where you’ll check on the brand of jewelry, if it’s a major consideration. Tiffany & Co, Cartier, and other famous brands can mean much more money in your pocket.

Get Your Diamonds Certified

For valuable stones, get reports from reputable labs like the Gemological Institute of America (GIA) in order to maximize the value you receive when you sell. You’ve heard of the Four C’s probably. They are the standards by which diamonds are judged.  The GIA developed the standards, and a certification from them instantly adds value to your diamond because it provides an authoritative statement about its quality.

When you need to sell jewelry, you really need to understand what you have. When you take the time to accomplish that, you end up with a better result. If you need to sell jewelry in San Diego, I’d love to buy it. Simply drop by my showroom in La Jolla or give me a call. You’ll be glad you did.

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