If you want to sell your gold jewelry, you may find yourself knocking on doors in the diamond or jewelry district. If you're not near a jewelry district, an online quote is an option, but subject to change upon physical inspection.
After spending half a day watching your gold pieces being scraped, magnified, and brushed, you may feel bewildered by the wide range of quotes you receive. How can you ensure you're receiving fair market value for your gold jewelry?
Grading of Materials
The valuation of jewelry has always been a global market since global prices for precious metals and gemstones will largely influence the price. International appraisers with local offices throughout the world include the Association of Independent Jewelry Valuers and the National Association of Jewelry Appraisers. These appraisers are certified and apply internationally recognized evaluation methods and standards.
The weight and purity (caratage) of gold determines its value. 24k gold is the purest yellow gold. Style trends may add a premium; for example, white gold—mixed with alloys—is popular, especially in wedding rings. Antique or artistic value can add thousands or millions in value to a piece. Antique jewelry should always be appraised by a specialist.
Authentication of Jewelry
Being able to prove the date of jewelry is fundamental to an accurate valuation. Even professional, well-documented jewelry can be difficult to truly date. If you can find something that authenticates your jewelry, then you will have an easier time getting a high bid.
Purpose of Appraisal
An appraiser may offer the highest appraisal value possible to receive more referrals; however, the insurer will seek to give the jewelry a lower valuation, in line with its market value sales price.
An appraisal should be an independent and impartial valuation of an asset. Conflicts of interest can be avoided by ensuring:
- An appraiser does not base the appraisal fee on a percentage of the appraised value.
- The appraisers are not limited to those working for the jeweler to whom you sell your gold jewelry.
A professional appraiser will charge for the appraisal and back it up with detailed market data so that the insurer will be satisfied. This can also work in your favor because when you go to sell the gold jewelry, buyers will offer more for gold jewelry with a certified appraisal. Shop around for quotes to get the best value.
To learn more about selling gold jewelry, contact a company like Rocky Mountain Coin.