First things first, there is no cause to feel bad about selling your inherited jewelry! Your loved ones left their valuables to you, trusting you would make the right decision about what to do with them. Unless you were directed not to sell your old jewelry, it is entirely okay to let go of these inherited pieces.
If you are not putting them to great use, why let them sit around accumulating dust? Your loved one desired you to enjoy their jewelry, which doesn’t mean they demanded you to wear it.
Owning their jewelry can also involve enjoying its monetary value. Imagine using the funds you collect and applying them towards a meaningful activity or life enhancement. Your loved one would be glad they were capable of helping.
Once you have decided you are comfortable to sell your old jewelry, you want to be sure you do so in the most effective way possible. But how do you proceed with doing this?
The initial action you should take is to have your inherited jewelry estimated. If you have the time, visit several jewelry buyers so you can analyze values.
Even though these pieces may not have a notable amount of worth to you, you still desire to be assured you’re receiving your jewelry’s worth and not letting go of your loved ones’ valuables for less than their value.
So, how do you identify what the jewelry you inherited is worth?
How to evaluate inherited jewelry
Ere taking your jewelry in for an evaluation, it’s always an excellent idea to examine it yourself. Reviewing your antique jewelry may provide you a better idea of what you should demand in terms of amount.
Study for any indications of what the jewelry is manufactured of. Valuable metals will typically have markings on the interior of the jewelry to show what kind of metal was used (925 in sterling silver, 10k, 14k, 24k, all linked to the amount of gold used, etc.). Unfortunately, these inscriptions might have been rubbed off with family heirlooms due to normal wear and tear.
If the jewelry has been in your family for quite some time, it is likely one of your family members still has the initial paperwork and certifications for the jewelry. If these did not get along with your inheritances, ask nearby!
This may guarantee that you obtain a higher payout when you go to sell your old jewelry. Once you have a more significant idea of how much your jewelry might be worth, you want to be sure you prefer to trade inherited jewelry to someone you can believe.
How to Obtain a Jewelry Appraiser
Pretty much anyone can pretend to be a jewelry appraiser, whether they own a jewelry store or not. There are neither federal nor state licensing requirements the way there are for real estate appraisers. So it’s essentially on you to discover whether an appraiser is furnished to estimate your inherited items.
That includes more than going to the nearest jewelry store since simply operating in the industry doesn’t qualify somebody as an appraiser. What’s more, most jewelry retailers don’t own their gem lab or the tools needed to examine a stone and accurately determine its quality.
For instance, a ring appraisal might ask for an appraiser who is familiar with diamonds.
However, various industry groups require their members to meet specific qualifications and adhere to a code of ethics.
What to Expect From a Jewelry Appraisal
A competent appraisal should:
- Affirm the kind of cost being determined, such as clear market value (used for tax purposes), the replacement cost (for insurance coverage), or liquidation charge (for bankruptcy or business dissolution).
- Explain the jewelry being valued.
- Detail the methods used to come at the estimate, such as an examination of similar sales.
- Specify the qualifications of the appraiser.
- Include the appraiser’s signature.
Putting a value on inherited jewelry requires a qualified professional. Don’t hesitate to investigate potential appraisers, “What qualifies you to evaluate this kind of jewelry.”
Sell your old jewelry to a prominent buyer.
The most reliable way to sell inherited jewelry is to a trustworthy and reliable jewelry buyer.
Free online jewelry appraisal estimates are completely – an estimate. Jewelry buyers should be able to inspect the jewelry in person. If they look at a picture and a description online, the chances are that estimate will not be accurate.
Skillful buyers lead you through the complete process, answering several questions you might have. They take the time to explain the price you are being offered to help eliminate any confusion.
Additionally, the buyers understand entirely that letting go of these items might be an emotional experience. They will never urge you to sell your old jewelry. If you own a piece evaluated and then decide you would instead hold it, that is entirely your decision. If you choose to go through with selling inherited jewelry, you should be confident in your decision.
If you’ve inherited a considerable amount of expensive jewelry and other valuables, you might be more interested in estate liquidation services, and this would be like an estate sale.
Say you inherited an entire jewelry collection from your loved one, and you only wish to keep a few pieces. What should you do with the rest? A great way to sell a large amount of inherited jewelry is through estate liquidation.
Liquidators take all the stress out of selling jewelry and do all of the work for you. They will help you find the right buyers for your unwanted jewelry, so you make the most significant profit possible in the least amount of time.
Selling an inherited valuable may initially feel uncomfortable, but it’s important to remember that whoever left it to us probably wants us to be happy. Selling the item and investing the money to accelerate our financial independence is a great way to honor that wish.
You can visit our website for additional details about how to sell your gold jewelry.