Whether you inherited a set of family jewelry or are building your own jewelry collection, you should ask yourself question: "How much is my jewelry?" More and more people understand this. Make a smart decision to sell jewelry they don't like anymore, vintage jewelry, but before you resell jewelry, you need to know value of jewelry to make sure you get a reasonable second hand price. Read on as our luxury jewelry experts explain jewelry valuation criteria, how to find a reliable jewelry buyer, and how to sell your luxury jewelry for best price.
How much are my jewelry?
When reselling designer jewelry, you can expect to receive between 20% and 50% of purchase price. You will be paid in proportion to purchase price, which actually depends on various factors such as: brand, condition of jewelry, market demand, etc. Getting an accurate price for your luxury jewelry can be a tricky valuation process. Jewelry retail price and jewelry resale price
A buyer who is reselling luxury jewelry for first time, wondering how much his jewelry is worth, may be shocked to learn that he can only get 20-50% of purchase price. Therefore, it is very important to understand difference between retail price and resale price:
Retail price. The retail price is price you paid for piece of jewelry when you originally purchased it. Diamond expert Jacob Worth goes undercover at a popular jewelry store to find out how much diamond jewelry originally cost. Worth found that luxury jewelry specialists were reselling them for 250-300% more than their original cost.
Resale value. Resale value is amount you receive for selling jewelry on secondary market. From moment you walk out of store with jewelry you just bought, it starts to depreciate, just like a new car pulls out of a garage. Even if you never wear them or keep them in their original condition, your jewelry will inevitably depreciate by 20-50%.
Factors affecting jewelry prices
The price you get for your jewelry depends on a number of factors, including market demand, style and condition of jewelry. You need to know following jewelry points:
Brands. Certain luxury jewelry brands such as Cartier, Tiffany, David. David Yurman, Bulgari and Van Cleef & Arpels offer better secondhand prices, and some styles of jewelry receive resale fees for half original price.
Collections. Popular collections such as Alhambra collection by Van Cleef & Arpels or B.zero1 collection by Bulgari are in high demand in market.
Metals. Luxurious jewelry is made from metals such as 18k gold, platinum, sterling silver and titanium. The price of jewelry depends on what metal is used.
Gemstones. Your jewelry may contain precious stones such as diamonds, sapphires, rubies or pearls. Determine type of gemstones your jewelry will be set into, as well as carat weight of gemstones.
Status. Well preservedI jewelry deserves a higher resale value than visibly damaged jewelry because it is expensive to restore jewelry.
Designer box and warranty. When you buy jewelry, it often comes with a branded box and warranty. These things are not only valuable to collectors and increase price of your jewelry, but you can also learn about characteristics of jewelry through jewelry warranty, such as: type of metal and gemstones used...etc.
Diamond Guaranteed. If you are a diamond jewelry owner, your purchase will include a guarantee issued by an institution such as GIA stating quality of diamond. This report confirms quality of your diamond and increases overall price.