Scott Gordon - About Estate Jewelry and Estate Jewelry Appraisals

Gems and Jewelry, a Permanent Store of Real Wealth

Where do you get your jewelry? Will you buy my jewelry?

How is your estate jewelry priced?

How do you determine an item's wholesale value?

Do you charge to look at my jewelry?

If we agree that you sell my jewelry, what is your commission?

How do I sell my jewelry on my own?

Why can't I get I get more money for my item?

I do not buy, but I take jewelry on consignment. Most of the time, I sell jewelry for private owners in two or three days, to the best buyer for the item in the wholesale gem and jewelry trade. Sometimes, though, if an owner has sufficient time and the jewelry is of adequate style, quality and condition, we may agree to long-term consignment (preferably six to twelve months), in order to seek a private buyer. Also, some of the jewelry you see is consigned to me from dealers at the wholesale level.

The jewelry that is consigned to me from private owners is priced at or near the equivalent of current wholesale market value. Obviously, this represents an advantage to the buyer. But it is also more than the owner will receive if I pursue the other alternative I offer for selling, which is to locate a wholesale dealer for immediate purchase, usually in two or three days.

How an article of jewelry should be priced ultimately depends on what someone is willing to pay for it, but two techniques are used to predict what that amount should be. The first way is to add up what it would cost to produce the item, based on stones and metal, labor and profit. This technique does not give you information about an item's antique, vintage or collectible status. The other, more accurate way is to find out what similar items have actually sold for, whether at auction or on-line, in second-hand retail stores and consignment shops that handle estate jewelry, and between private buyers and sellers. Sometimes it's easiest to research asking prices from estate dealers at the wholesale level.
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Yes, I do charge to evaluate your jewelry and place it inside a range of likely selling prices. This process, which I call consultation, costs $75 per half hour. If we agree to a consignment (whether immediate liquidation or long-term consignment), then I do not charge for the consultation. However, it is a mutual decision, and of course your decision depends on how much I believe I can sell your item for, and, based on my commission, how much money you would net. My knowledge, including where and how to research the value of your item, keeps you from selling for too little; or frustrating your goal of selling by asking too much.
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My commission ranges from under 10% to as high as 50%. Usually it is between 20% and 35%. I set it exactly during the consultation, so you know what your net proceeds would be before you decide whether to consign your jewelry to me. Two things determine my commission rate: whether I sell it fast (liquidation) or with more time available to find a private buyer; and the selling price of the item (the higher the price, the lower my commission. Both of these things ultimately relate to my time. For instance, selling a number of items at once, to wholesale buyers, requires less time than if I seek a private buyer for each item, so my commission is lower.
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As I help you explore your options, I discuss how you might go about selling directly to another private individual, including both on-line and through personal networking. In theory, this is how you would get the most money out of your jewelry, unless it is very fine (when the auction, dealer's or collector's market might be the most lucrative one). Many people do not choose this option, because of security concerns, or simply the time and effort that is required. But I have assisted many in pursuing this possibility. I clean the item, photograph it digitally, and advise about needed repairs (I work with jewelers who can make any needed repairs to your jewelry). Most important, I give you the language to use in presenting your jewelry to a prospective buyer, in the most accurate and positive way.
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People are often disappointed about the re-sale value of their jewelry. It comes out in various ways. "Isn't jewelry supposed to be an investment?" "But gold prices are so high, why isn't my jewelry worth more?" "I must have paid too much. What are retail mark-ups, anyway?" Or simply, "What's jewelry really worth?" The answers to these questions are only found in context. Who is the seller? What kind of business does the seller run? Is the seller in the jewelry business at all? How long is the seller willing to wait to sell? Is the item of average quality and size? Is it special in any way? It's been said that gemstones have a universal security value greater than any other commodity. Compare jewelry to almost anything else — clothing, furniture, art, cars, stamps and coins — and jewelry will come out favorably. The question becomes, not whether jewelry has value, but how much and why. Bringing clarity to your considerations is my calling.
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