A jewelry appraisal is a statement of value that spells out the worth of your item. Anyone is doing the review — the appraiser — does an intensive inspection of your professional jewelry appraisers to determine the value.
An appraisal from an area jeweler, for example, may help determine insurance replacement value or help you create an estate or tax plan but doesn’t help you understand precisely the quality, specifications, and other attributes inherent to your item.
However, a jeweler or pawn shop can easily weigh and measure your gold, silver, or common gemstones for scrap metal value.
Just how much is my jewelry worth?
You may guess that solid gold and silver jewelry may be worth more than costume trinkets. Yet, many jewelry owners still end up wondering, “Is my costume jewelry worth anything?” Some vintage costume pieces have gold plating, but is gold-plated jewelry worth anything?
Typically, the clear answer is no. Some name-brand vintage costume jewelry could have retail value at a niche resale shop. Still, you may well be better off donating unused plastic and costume items to an area charity and enjoying a tax deduction.
It isn’t easy to get a remedy to these questions without an appraisal. If your goal is having an overall idea of your jewelry’s value, consider dealing with Worthy to get an estimate and then a lab report from a gemologist.
At the same time, remember the golden rule of resale: Your stuff is only worth the total amount somebody else is prepared to pay.
That doesn’t mean you shouldn’t sell if you don’t make plenty of money. In this post, I reveal all of the emotional value of engagement of sale jewelry, in addition to all of the life-changing ways women have invested profits from jewelry sales.
In the end, if you’re not enjoying it, it is lost money.
Jewelry appraisal vs. selling price: How can appraisal prices compare with actual selling prices?
It is a common mistake to confuse jewelry appraisal price and the selling price. However, a price given for insurance lists the retail replacement cost, which will be completely different from what you’d be in the resale market.
If you’re interested in the worth, sometimes local jewelry appraisers offer you an appraisal free of charge, that might serve as an excellent benchmark, but this won’t match what you’d earn if you sell your valuable — whether to an area jeweler, an online jewelry buyer, pawnshop, gold exchange, diamond exchange, eBay or another source.
Some recent surveys found you will get approximately 25-40% of the retail value of your diamond jewelry. So, for example, if you paid $5,000 for a diamond solitaire ring, it should be appraised for approximately $5,000 for replacement purposes. That same ring will sell for roughly $1,250 to $2,000 or less to a diamond or jewelry buyer.
How do you obtain a jewelry appraisal for insurance purposes?
A jewelry appraisal for insurance purposes can be had at these locations:
An area jeweler near you.
A jewelry laboratory, such for example GIA or IGI
And market value to offer you a certified lab report with detailed information about the metal, diamonds, and gemstones. The lab report will even include an estimated resale price.