When you inherit family jewellery, there is a sentimental value attached to it. The jewellery industry is driven by style and status. An antique engagement ring, a rare diamond broach, all of this comes with emotions and memories. With vintage jewellery, the priority should be getting jewellery valuation for insurance purposes.
But unlike liquid financial assets, inherited jewellery cannot have the same set value for decades. There are also issues with taxes, and unfortunately, keeping old jewellery can be a huge risk.
Experience with eBay to sell jewellery can work out very well or very badly. There aren’t any documents for selling items, and buyers often return your jewellery broken.
So, if you have recently inherited antique jewellery and want to sell it, let us help you. The first thing you need is a jewellery valuation.
How to Find a Jewellery Appraiser?
Anyone can claim to be a jewellery appraiser, but this is the most crucial part. You need to understand whether an appraiser is credible to evaluate your assets/assets. Based on your jewellery valuation or appraisal, the estimate of the piece will be determined. To ensure that, research is the only way.
Talk to people online, see reviews and their credibility so that the association can fit your specific standards.
Please remember that jewellery retailers aren’t always qualified enough to examine a stone and determine everything about the piece. Find a genuine company like Prestige Valuation whose members meet certain qualifications and adhere to the code of ethics for online jewellery valuations.
What should you expect for a jewellery appraisal?
If you are going for a formal jewellery appraisal, it should have:
- The kind of jewellery valuation being determined, i.e., the replacement value (for insurance), liquidation value (for bankruptcy or business), or market value (tax purposes).
- The description of the items
- Description of the whole procedure that helped the valuer to arrive at this conclusion
- Qualification of the appraiser
- Signature and certificate
Selling inherited jewellery
Many times, we have to sell inherited jewellery to deal with some issues. Once you have decided to sell the item, you need to make sure you go about it the right way. There are some places where you can sell your jewellery.
Where to sell inherited jewellery?
Selling at an auction
Auctions are a great way to sell antique jewellery. There are members who clearly know the value of these rare items, and most auction houses have high-standard deals. Therefore, high-end diamond rings or other pieces are best to be sold here.
Selling at a local store
Selling jewellery at a local store is a safe bet, especially if you know the store well. You can also sell at a local pawn shop if you are in urgent need of money. But that isn’t the most respectable way of dealing with heirloom jewellery.
Selling to an estate jewellery buyer
High-end diamonds, rubies, and other rare stones are best when sold to a conservator. They always sell at a good price.
Jewellery brokers will help you to make a sale for a fee. A hired professional works against a very sophisticated market to find a buyer for your piece.
Most jewellery brokers are exceptionally trained in materials and gems. They usually charge a percentage of 10 to 40% depending on the type of service and jewellery you are selling.
How to get the best value on your inherited jewellery?
Selling antique jewellery is an art. You have to find the true balance between ease of payment and high value. If you think it will be fast and easy—you are dreaming!
Each of the approaches has its returns and drawbacks. Besides the actual price for the jewellery, there is also the time investment you need to make for a good sell. Don’t look for easy payment. Not everybody buys and pays on the spot.
Worn-out jewellery will affect the value. So, it is essential to keep it repaired and ‘looking like new’ to get the maximum benefit.
Another tip is to keep your jewellery clean before showing around. If you are new at this, DO NOT take any risk and hire a professional for this. Improper cleaning can damage your jewellery—so trust the experts.
The whole process may sound exhausting, but personal creativity can give you the best value for your jewellery. The point is to examine all the benefits and liabilities carefully before making a choice.