What’s my jewelry really worth?
(Should I sell it?)
(How would I start?)
Would you like to have an expert on your side?
Let’s talk about how to sell your jewelry. In my Broker’s Price Opinion, I tell you how much money I expect to sell your jewelry for, what my commission will be, and how long it will take. I know what’s likely to sell fastest, and for how much.
How do I know about estate jewelry? (That’s any jewelry owned by an ultimate consumer.) The answer is, I’ve spent a lifetime in the estate jewelry business. I was born into a family store, worked there as boy, and joined the firm as an adult in 1977. When I opened my appraisal/broker business in 1991, I made estate jewelry my specialty.
I have sold more than $2 million worth of jewelry for more than one thousand jewelry owners, including trusts and estates, heirs, lawyers, banks, charitable foundations, and, most of all, private clients. After more than three decades of experience with estate jewelry buyers and sellers (and ongoing study of the markets), I know what you can expect from the sale of your jewelry in terms of time and money.
My Broker’s Price Opinion is not limited to forecasting the results if I sell your jewelry. If it’s information you want to consider, I talk about other ways you might sell your jewelry on your own. I am glad to do this because you should consider all your options, whether they involve me or not. No one, including me, always offers everyone the best solution for selling every kind of jewelry.
So one way or the other, I help everyone who has jewelry to sell. Using my information, some have found private buyers on their own; I’ve referred others to local trade buyers, and yet others have decided to keep their items. All these outcomes constitute success. The goal is to enable you to take the next step that’s right for you.
The Broker’s Price Opinion is not an appraisal. It does not conclude your jewelry’s “value.” But it is recognized in my profession as a legitimate valuation service. Unlike appraising, I am allowed to work as your advocate. Together, we strategize to achieve the highest price for your jewelry.
The fee for the Broker’s Price Opinion is $75 per half-hour. If we agree that my brokerage service is the best way for you to sell your jewelry, I waive some or all of this fee. (See below for more information.)
The broker’s price opinion includes:
- Your item’s likely selling price if I sell it within one week (liquidation in the jewelry trade) and what my commission will be.
- Your item’s likely selling price if it can be sold to an ultimate consumer (long-term consignment, usually 6-12 months) and what my commission will be.
- Your item’s quality, style, and condition.
- How to present your item to its best advantage and how to price it if you sell it on your own, and possible ways to find local buyers.
- Cleaning your item as time permits.
- Professionally photographing your item if requested.
The next step: the consignment process
If we agree on your item’s price, my commission percentage, and how long I have to sell it, then we complete my written consignment agreement. This includes these terms, as well as your item’s description.
Your item is fully insured while I have it and in transit if shipped elsewhere. I pay you as soon as it is sold to a trade buyer, or right after the expiration of any short-term return privilege extended to a member of the public (within 30 days).
I will waive some or all of my $75-per-half-hour fee for the Broker’s Price Opinion, depending on how many items we’ve reviewed and which ones I’m selling for you.
How my jewelry consignments work
Immediate sales through trade liquidation
The “fast nickel” approach (faster results but usually lower proceeds than from ultimate consumers).
For most items, you are paid within one week.
Your items are shipped out-of-state via insured overnight mail to the best buyer for the particular piece. These include wholesale dealers, retail jewelers, and refiners of precious metals.
Commission schedule for trade sales
Under $1,000 = 35%
$1,001 to $5,000 = 30%
$5,001 to $10,000 = 25%
$10,001 to $50,000 = 20%
Over $50,000 = 15% or by agreement
These schedules are guidelines. Commissions are set on a case-by-case basis.
Second-hand retail sales through long-term consignment
The “slow dime” approach (higher proceeds but usually slower results than from buyers in the jewelry business).
Commission schedule for retail sales
Under $1,000 = 45%
$1,001 to $2,500 = 40%
$2,501 to $5,000 = 35%
$5,001 to $10,000 = 30%
$10,001 to $50,000 = 25%
Over $50,000 = 20%
Questions I’m often asked
Why do you charge to look at my jewelry?
If our meeting doesn’t result in a consignment, my fee covers the time it takes to analyze, price, and discuss your jewelry. I will put you in a better position to sell your jewelry, whether I serve as your broker or not.
How long does your consultation take?
We can usually cover several items in thirty minutes. Simple, small items tend to go quickly. Larger, more complex pieces take longer; and occasionally, some require additional study.
What if we spend more than 30 minutes?
I pro-rate my fee for additional time in 10-minute increments. You are welcome to set a time limit. If you have more than one item, it’s a good idea to prioritize them before you come.
How do you price my jewelry?
There are two ways this is done. The first is to estimate the wholesale cost to a jeweler to reconstruct your item, based on gemstones, precious metal content, and labor. The other is to find items similar to yours and see how much they’re selling for.
What if I just want an offer to buy my jewelry?
I broker. I do not buy outright. But you can search online to find businesses that do buy jewelry and get their offers. I offer you years of experience that may result in more money, but I always encourage owners to explore all their options.
Is the Broker’s Price Opinion an appraisal?
No. It is my immediate impression of how much money I can get for your jewelry. An appraisal is an estimate of “value,” which is a broader concept that considers as many prices as possible. An appraiser is objective and is not allowed to act as your advocate, but a broker not only can, but should, help you achieve the highest price for your item.
“Dealing with Scott could not have been a more satisfying experience. Not only am I confident that I obtained the best possible price for my diamond, I am completely assured of his honesty, integrity and exemplary professionalism...Scott has earned my trust and I recommend his services to anyone who has a diamond they are interested in selling.”
— paul paladino
