One of the most foolproof ways to make some extra money is to sell your old jewelry. In some cases, buyers are on the hunt for specific items, and at other times, dealers of precious metals may be looking for something else entirely. If you are new to selling your jewelry, you may not immediately be able to tell which pieces are valuable and which are not. Understanding how to discern fine jewelry from the rest of your collection and which types sell best will give you a leg up when you decide to sell your fine jewelry.
Defining Fine Jewelry
The single defining characteristic that earns fine jewelry its name is that it’s made from precious metals or includes a precious or semi-precious stone. Jewelry will commonly have a combination of these traits, as is often the case with engagement rings or earrings. While the majority of jewelry is made from lower-grade materials, it’s the valuable materials that comprise fine jewelry that set it apart and give it value.
The most common types of materials that can be found in fine jewelry include sterling silver, silver, gold, and platinum. Sterling silver is the least precious of these metals, as it typically contains 92.5% silver and 7.5% of another alloy. Fine silver, on the other hand, is nearly pure, but because it’s much softer than gold it’s rare to see a piece of fine jewelry made from pure silver. Gold is perhaps the most popular precious metal and is measured in carats; the higher the carat, the purer to gold, with 24k referring to pure gold. Even more precious than gold is platinum, which is usually made of 95% platinum and 5% alloy.
“Precious stone” is a term that refers to diamonds, rubies, sapphires, and emeralds. Other stones, called semi-precious stones, also have value, but they’re typically not as valuable as precious stones. The value of a precious stone is determined by its color, cut, clarity, and carat.
Determining the Value
Once you’ve decided to sell your fine jewelry, you’ll want to get an idea of how a buyer will assess the value of your pieces. There are two ways to measure the value of your fine jewelry: perceived value and material value.
The perceived value of your jewelry is, as the title may suggest, subjective. The payout you can expect depends on what the buyer is willing to pay. If your jewelry is the product of a modern prestige brand like Boucheron, Chopard, or Cartier, the brand alone will command a higher price. However, antique jewelry can often hold its value quite well, especially from timeless prestige brands.
If you have a piece of jewelry from one of these brands, you may want to spend a little extra energy doing your homework to figure out how much it’s worth and what you might expect to get for it. If you’re in possession of name-brand jewelry, knowing what it’s worth can make a significant difference when you sell.
That said, fine jewelry also has material value, which refers to the value of the materials that the piece contains. Precious metals, precious stones, and semi-precious stones can potentially be worth quite a bit, even if the piece of jewelry was not made by a popular brand. Experienced buyers of precious metals and gemstones will be able to evaluate the piece of jewelry in question and give you an estimate for its material value.
Selling Your Fine Jewelry
Finding the right buyer can make all the difference when you decide to sell your fine jewelry. In most cases, the best course of action is to find a local buyer with a brick-and-mortar location. Selling in person gives you the opportunity to meet with your buyer and receive a free evaluation. You’ll also have the added benefit of getting an all-cash offer right on the spot.
For those based in Colorado, Gold Rush Littleton is the number one local source for selling precious metals and gemstones. Our team of experts holds the highest precious metals, diamond, and gemstone certifications. At Gold Rush Denver, you can expect the highest quality of service as well as the highest possible payout for your fine jewelry.
