Appraiser Services - How to Sell Your Gemstones and Jewelry

How Should I Sell My Unwanted Jewelry?

"Do you appraise jewelry?" This is the question I often hear when someone calls me to find out how much his or her jewelry can sell for. I say, yes, I do. Why do you need it appraised? The answers vary. Sometimes it's "I just want to know what it's worth." Or, "I'm thinking of insuring it." Is there any other reason, I ask. Then I might hear, "I'm considering selling it. Do you also buy jewelry?"

A private owner considering how, or even just whether, to sell his or her jewelry very often uses "appraising" to mean, "What can I expect if I decide to sell my jewelry?" In most situations, it is pretty much the same question as, "What will you pay me for my jewelry?" In other words, a bid.

If you call enough legitimate buyers, you will probably get a good idea of what your jewelry is worth. You are acting as your own appraiser. How many are enough? Maybe only three or so. But, first, who are these serious buyers, willing to write a check on the spot? One list of possibilities includes pawn shops, some retail jewelers (including smaller independent store owners and some who claim to be "wholesale to the public"), antique shops, flea markets, and Internet sellers, and some estate sellers. If you are willing to wait, your choices might include auction houses (local, regional or national), estate sellers (a broad category, but primarily someone who conducts estate sales in private homes) and consignment shops, including most antique and some retail jewelry.

So, as you can see, there are many kinds of buyers who deal with privately pre-owned ("estate") jewelry. But you also need to think about another kind of buyer — not only someone buying it for resale, or handling its sale for a fee (that is, a broker). You should also consider finding a private buyer, who is acquiring it to keep and wear, or to give it to someone who will own and wear it — an ultimate consumer.

To be sure, you will not pursue all of these possibilities. Which of them are right for you depends on two things: how much time you have available to sell, and the jewelry itself —its style, quality and condition. Some jewelry gains value over time, other is destined to be scrap and sold for the value of its component parts. But even if you pick just one type of buyer, it can be difficult to get more than one legitimate offer or one sound prediction of a sale based on previous results with your particular item. How do you know if you're being treated fairly?

WHAT I DO

My service begins with consultation. My fee is $75 per half-hour. This is not an appraisal, but instead a discussion of your item and the options you have for selling it, based on how much time you have available to sell, and the jewelry itself.

The first step is to ascertain the jewelry's most likely wholesale market price. This is the benchmark for how much money you can sell it for. It is adjusted according to the kind of buyer you are selling to (see the discussion above), which depends on what we've already said — time and the jewelry itself.

In order to prepare it for sale, I clean your jewelry, photograph it, and advise about any needed repairs. I tell you how to present it, both with complete accuracy and in the most positive way possible.

My focus is completely on what is best for you to do. Usually, I cover how to find a private buyer, because it is generally the most lucrative option, but also any other possibility the jewelry and your life situation might suggest, as well.

For some people, charitable donation, holding items for distribution to heirs, or the decision simply to do nothing at all are also possible outcomes of consultation.

Lastly, I present my other service — brokerage — as one of your options. This simply means that I find the highest paying buyer I can locate, usually in a day or two. I tell you how much I expect to sell it for, based on my experience, and what my commission would be. So you know what to expect before you decide.

When I sell in such a short period, it is to someone in the jewelry trade, who is buying for re-sale. In a few cases, I offer long-term consignment, in which I seek a private buyer for your jewelry. This results in more money in your pocket. However, this second-hand retail option depends on our old friends — the availability of your time (six to twelve months, in most cases), and the jewelry itself.

If we agree to a consignment, long- or short-term, I do not charge the consultation fee. But if either of us decides against it, then my fee of $75 per half-hour applies. I either am paid as a consultant or a broker (your agent to conduct a sale), but not both.