How To Know The True Value of Jewelry When Selling or Buying It
Regardless of whether are you are buying or selling a Jewelry, you certainly need to know the true value of a piece. Do you have to be a gemologist? Certainly, not. Time spend on research can help you to know the value, and this means that you may then be able to get a higher price when selling or pay a fair price when buying.
First of all, the term “estate Jewelry” is used to refer the Jewelry that was previously owned. It is not as valuable as new.
How To Determinate The Value Of A Piece Estate Jewelry
Style: Style often determines the value of piece of Jewelry. Classic styles that have been around for decades may bring premium prices since they most likely are still in style. On the other hand, some styles are so passe that they only have an intrinsic value.However, if the Jewelry piece is an antique, it could be a collectible and be rather valuable. Therefore, it is important for you to know whether the Jewelry piece is an antique or just outdated and out of style. The value of the piece then can differ by hundreds or even thousands of dollars.
Condition: If a damaged Jewelry piece can be repaired with a minor cost, it is a good idea to repair the piece in order to restore the piece. However, sometimes damage to a piece may make it impossible to restore. In all cases, the repair should be done by a professional in order to avoid losing a ton of money on its value. A worn out piece of Jewelry’s value is impacted by its poor condition and could only be valued at its intrinsic worth.In order to make a Jewelry piece to look at its best, it should be cleaned properly so that it will look as good as new. Many Jewelry stores cleans the Jewelry for free. Cleaning a Jewelry piece incorrectly can not only damage it, but in some cases it may even destroy the piece. This is especially true for a piece with at least one gem.
Gems: An important part of a Jewelry piece’s value is the gem. Actually, the value of estate Jewelry is mostly determined by the gems which are used in the make of Jewelry. The kind of gem as well as its condition are the critical factors in determining the piece’s value.
For instance, some gems are simply more valuable than others. A synthetic ruby is worth far less than a natural ruby. Amethysts are far less valuable than diamonds. You will understand the gem’s value if you know the rarity and grade of the gem.
Also critical to the value of the gem is its condition. Polishing gems to remove chips and abrasions can be worth the cost. However, most of the time scratches and chips will cause the gem to be both unappealing and, therefore, valueless.
Remember, it’s the demand and condition of a Jewelry piece that determines its value. When Jewelry is shown, make sure its kept clean so you can properly evaluate its gems and design.
Estate Jewelry’s value is basically determined by its style, condition and intrinsic worth.
Tips For Selling Estate Jewelry
Mistakes to Avoid When Selling a Diamond or Diamond Jewelry
1.Believing Online Appraisals are Not Always Correct
Appraising the value of platinum, gold or silver is considerably easier than appraising a diamond. When appraising a diamond, the size or number of karats is not the only factor. In order to determine the value of a diamond, the color, clarity and cut must be considered. Since both online auctions and marketplaces do not consider these factors, their appraisals can’t be trusted to be correct.A true and fair valuation can only be made by looking at the diamond. For this reason, it is recommended the knowledge of a list of reputable diamond buyers, which will provide secure and convenient exchanges by providing shipping, insurance and valuation of diamonds. One of the best options is to compare the information as much as possible.
2.Neglecting to Check the Credentials of an Expert
A diamond or gem buyer may claim he or she has Jewelry and diamond experts available, but you shouldn’t assume that their certifications are to be trusted. Their experts should be certified by the Gemological Institute of America (GIA). The standards of the GIA are used by reputable diamond buyers.
3. Be Wary of Offers Higher Than Appraisals
Some unscrupulous diamond buyers will appraise your diamond low no matter the karat, cut, color and clarity. They will want you to believe that your stone is less than its true value and, in so doing, persuade you to take an offer that appears to be high but is not. If they were to actually give you more than the value of the stone, they wouldn’t make a profit, and we know that they are in business to make a profit. Heed the claim of offering the best market prices and seek a second opinion.
4.Accept Diamond Certification from Buyer
You may not have the original certification of your diamond or it may not be certified. If a diamond buyer offers to certify the diamond for you, the certification must be done by a GIA authorized lab.
Security Measures To Be Followed While Selling Estate Jewelry
Be Mindful of Your Safety
For your personal safety, you should never agree to meet a buyer in your home. Meeting a buyer in your home would certainly be dangerous for you and your family, and guarding against theft should be an important priority.
If you sell to the general public, you should meet the buyer at a public place such as a shopping mall or restaurant. Another safe place to meet a potential buyer is his or her bank. Then if the potential buyer decides to buy your piece, he or she can get the cash and finish the sale, and the bank’s security will help to guard your safety as well as protect you against theft.
Always make sure another person knows when and where you will be meeting with a prospective buyer. It is probably a good idea to tell that person that you will call him or her to check in after the meeting is over.
Having another person with you when you meet with a prospective buyer is also a good idea. Since con-men often work in teams, he or she may have someone standing in the background to possibly pose a risk to your safety. Having someone with you to keep an eye on the entire situation can help to prevent you from getting taken.
In order to prevent fraud, you should always deal in cash. All too often, cheques can be faked. That means personal as well as cashiers’ checks.
Some con-men are adept at switching Jewelry, and they especially look for unsuspecting people. Be aware of that fact and be alert.
Tips For Buying Estate Jewelry
Markings: Inspecting an item for markings can give you some idea of its worth. For instance, pendants and gold rings may have the karat weight stamped on them. Decorative pieces may have a company logo or designer’s signature. After noting these, you should then do some research to determine their significance in the value of a piece.
Materials: Regardless of the design of a Jewelry piece, the value of gold and platinum is still determined by its weight and content. Semi-precious stones and diamonds have a specific market value. Although costume Jewelry may have little value if any in its materials, it may still have value based on its age and maker.
Matching Pieces: Matching pieces of a piece of costume Jewelry can add to its value.
Consultant: When you aren’t sure of the materials of a piece, you should consult with a reputable jeweler. They usually do not charge for identifying either the stone or the primary metal of a Jewelry piece, and they will also tell you what the current market values of gold are.