The Real Truth About Jewelry Evaluations
When you’re looking to sell your antique jewelry, you’d think getting a vintage jewelry appraisal would tell you the value of your jewelry, right? You might be surprised to learn that the appraisal is not the face value you’ll be able to sell your jewelry for.
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What an Antique Jewelry Appraisal Is…and Isn’t
Interestingly, EGL, GIA, or AGS certificate reports are basically old jewelry appraisals. They are done mostly for insurance purposes and don’t reflect the value your piece will bring if you sell it. An antique jewelry appraisal is typically done at 100% above the retail value.
While the old jewelry appraisal will sound like you’ve really made a great investment, don’t expect to be offered that much when you go to sell. If you are making an insurance claim, however, it could work in your favor if you’re cashing in. But if you are taking out insurance on your jewelry, it’s the insurance company who stands to gain by way of your premium.
Jewelry stores profit from doubling the vintage jewelry appraisal too. They are able to appear to be selling you an item for half price when in essence, it is the average going price the jewelry is worth (or perhaps more).
The Hidden Truth Revealed
Although it can be maddening to know the truth about antique jewelry appraisals, think of it this way – you’ll now go into an online or local jewelry appraisal armed with the truth. You will be aware your old jewelry appraisal is not the real value of your item and can do business accordingly.
Where to Get An Antique Jewelry Appraisal
To get an old jewelry appraisal, conduct an online search for “antique jewelry appraisal near me.” The results will be mixed with jewelry stores, antique dealers, and over online buyers so you’ll want to narrow it down to local buyers and vintage jewelry appraisals that are near you.
Investigate the antique jewelry buyers to make sure they are reputable. Find out how long they’ve been in business and how much of that time has been at the location near you. Read reviews other customers have left and check the BBB for complaints. Once you’ve selected a few, set up a time to take your item in for an old jewelry appraisal.
Knowing about your vintage jewelry is helpful. What is the exact age? Does it have a story that comes along with it? What history does the era it is from have? Anything interesting about your old jewelry can only make it more appealing so know before you go and, make sure it is clean and shiny.
There should be no surprises when having your antique jewelry appraised. Go in knowing the facts and you’ll come out with an appraisal you can work with whether you are looking to sell or are taking insurance out on the piece. When it comes to antique jewelry appraisals, it is what it is. You are not going to change the system or the fact that the appraisal is double the actual value so you might as well just be satisfied that you are at least aware how evaluations work beforehand.
Finding a Trustworthy Old Jewelry Appraisal
It’s nice to have a “go to” appraiser that you can trust. In your quest to find one, look for one who is respectful to you. Also, look for honesty. If you find a vintage jewelry appraiser who tells you straight out that the appraisal is twice as much as the buying price and why, you have found one who is upfront and more likely to be a dependable source to get an appraisal from and to sell to and therefore, you have found a gem.