A Guide to Selling Jewellery
When you need some extra cash, selling your unwanted jewellery can be a great way to generate some extra income, but, figuring out what is a good price for your item can be a daunting task.
When it comes to selling your jewellery, there are 3 main things that determine the valuation of your jewellery. Knowing these things will help you distinguish between a good offer and a bad one.
Metal Type & Weight
The first factor looked at by the experts is the metal. It is the base of every piece of jewellery whether it's an engagement ring or necklace. Whether it has precious gemstones or imitation. Whether it's machined or handmade. The metal will play an important role in the total value your item will get.
Metal is valued through its quality and quantity. In most cases the quality of metal is determined through a jewellery piece's hallmark. It could be example. 9k (37.5% gold) ,18k (75% gold) 21k (91.6% gold) or a similar derivative of another metal. The higher the percentage of precious metal, the higher the value.
In case a hallmark is not present, an expert using specialised equipment can accurately determine the percentage of precious metal in the jewellery.
The second factory is the quantity of precious metal. The higher the quantity, the higher the value. Combining the quality and quantity and using the global fix for precious metals on the day will determine the value of the precious metal your item holds.
Beware that the vast majority of cash-for-gold companies use this method as the sole indicator of value, this is fine when the jewellery is just plain metal however if it has gemstones or is designer then this added value would go unnoticed. So, find yourself a company who has the expertise to identify gemstones and any designer value in order to maximise your selling valuation.
The next important aspect of your jewellery that will add value are gemstones. Finding an expert who can accurately identify and apply up-to-date knowledge when valuing your jewellery will greatly increase your chance of a higher valuation.
Gemstones vary massively in price and are heavily dependent on the current market trends.
An example of this is the recent surge in demand for rubies and sapphires from the far East causing global prices for high-quality pieces to skyrocket. This key market analysis has allowed our experts to recently offer more for high-quality rubies and sapphires and we pass this benefit straight onto our clients.
Design & Designer
The third thing that will determine what your jewellery is valued at is the design and designer. There are certain designs that are constantly in demand, allowing our experts to offer a valuation based on the item as a whole rather than valuing an item based on scrap value - as is the industry standard.
Scrap value is when a piece of jewellery is valued on the basis that the metal will be melted and the gemstones separated and reused. An expert who can identify a reason to keep your item whole and reuse it will be able to offer you a better valuation.
Similarly, with designer pieces, the branding creates an additional value which an expert should be able to attribute a value to. However, this largely depends on the knowledge and experience of the company doing the valuing and can vary substantially from company to company.
Keeping in mind these key factors will help you identify a good offer from a bad one.