Tips For Selling Unwanted Jewellery - S.Taylor Jewellery Appraisal & Consultation
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Tips For Selling Unwanted Jewellery

Tips For Selling Unwanted Jewellery

Tips For Selling Unwanted Jewellery

Clients often ask advice on how to go about selling their unwanted jewellery. There are different ways to go about selling your jewellery. Seeking an independent appraiser for advice (not in the business of buying or selling) is a great way to start the process. Resale appraisals take into consideration your needs as the seller, the condition of the item, quality and desirability of the item on the market. It will give you a rough estimate of what you could potentially receive for the item depending on how you wish to go about the sale. For more information after this blog post you can visit https://www.americangemsociety.org/page/sellyourjewelry

You Need Or Want To Sell Fast

There are many businesses and jewellers that buy gold and jewellery. Often they provide cash on the spot. If you walk in with an insurance replacement appraisal and are expecting to receive close to that amount it can be disappointing. You may even feel insulted with their offer. They are offering what is called liquidation value or scrap value. Unless you are taking it somewhere that specializes in antique or collectible jewellery this value rarely takes into consideration workmanship, collectibility, provenance (if any). I can provide you with a liquidation appraisal that will act as a guideline for what you could expect if you were to sell this way. Your purchase offer may vary slightly from place to place so it’s not a bad idea to get a few offers before making your decision where to sell.

Time Is Not A Factor

Private Sale

If time is not a factor you can try selling it privately using buy and sell website or app. If you decide to go this route I can provide you with a fair market valuation. It is unrealistic to expect to receive close to insurance replacement value for something being sold privately in the open market. The item is no longer new, it may have some wear or it may be a dated design. Fair Market Value is defined as the price at which the property would change hands between a willing buyer and willing seller, neither being under any compulsion to buy or sell and both having a reasonable knowledge of the relevant facts. A fair market value appraisal is an estimate of what the item could sell for on the open market. It is not guaranteed and should be used as a guideline only. In this case you may wish to also have an insurance replacement appraisal so the potential buyer has an idea what the item should be insured at.

Consignment

If during your resale appraisal we discover an important hallmark or determine that your item is collectible on the estate or vintage market it may be best selling on consignment. There are a number of very reputable jewellers who offer consignment in their retail locations. Consignment is an excellent option because the store already has an established client base. Foot traffic into the store allows potential buyers to see and try on your items. You will agree to share a portion of the profits of the sale in a consignment environment. Each store has their own percentage and agreement. You and the store will work together to come up with a reasonable and realistic selling price based on your appraisal. You can shop around to see which store you feel most comfortable with.

 

Auction

An auction house will typically send a representative to assess your items. Preparing by having your own appraisal documentation can give you comfort that you are informed about the details and value of the item. The auction house will likely have their own appraiser do another appraisal if they are interested in listing it in the auction. Auctions are excellent  for jewellery of higher quality, rare gemstones, and highly collectible jewellery items. The auction will take a percentage of the sale and there may be other fees involved. Each auction house will have their own individual agreement.

 

I hope you found this blog post helpful. For more blog posts please visit http://www.stjewelleryappraisal.com

Sincerely,

The Blonde Gemologist

Sherrie Taylor A.J.P., G.G.(GIA), R.M.V.

 

Sherrie Taylor
sherrie@stjewelleryappraisal.com

Collecting jewellery since I was three years old. I am a Graduate Gemologist Appraiser, & Registered Master Valuer who teaches gem curious jewellery owners about their personal jewellery collection through the process of valuation and appraisal. This blog is a place for jewellery lovers who are curious about gemstones, minerals, luxury fine jewellery, history, buying tips and gemological tools. Thank you for following along! "The Blonde Gemologist"