Selling Your Jewellery

This guide will help you with everything involved with selling your jewelry. In this post we will go over the:

  • How to sell your jewelry
  • How jewelry is valued
  • Do you need a full jewelry appraisal
  • Where to sell jewelry
  • How to get the highest value for your jewelry
  • Bonus tips for selling jewelry

(video how a guide to selling jewelry)

How to sell jewelry

The common method for selling your jewelry is to first get it valued by a certified Jewelry Appraiser. Beware of jewellers who may claim to be appraisers, instead seek a qualified appraiser.

ASA-accredited appraisers provide exceptional valuation expertise as they earn their designations only after completing a rigorous course structure and peer-evaluation process that requires years of study, experience, dedication and commitment. Check out post on 6 questions to ask an appraiser before hiring their services

In order to sell your jewelry, the first thing you will need is an appraisal report that ensures the quality of the items and entails regarding the items identification. It’s important to understand the 4Cs of Diamond Quality:

4C's of Diamond Quality

Understand the 4Cs of Diamond Quality:

Diamond Color

In most diamonds, the term actually refers to the absence of color. The less color in the stone, the more desirable and valuable it is. Some of these differences are not visible to the naked eye, but directly impact the overall quality and price of the stone.

Diamond Clarity

Measures the amount, size and placement of internal ‘inclusions,’ and external ‘blemishes.’ Grades run from ‘Flawless,’ with virtually no imperfections, to ‘Included,’ which contain a significant number of imperfections.

Diamond Cut

Does not refer to a diamond’s shape, but to the proportion and arrangement of its facets and the quality of workmanship. The amount of brilliance, sparkle and fire in a diamond is determined by cut. Grades range from ‘Excellent’ to ‘Poor.’

Diamond Carat

Refers to a diamond’s weight. Generally speaking, the higher the carat weight, the more expensive the stone. Two diamonds of equal carat weight, however, can have very different quality and price when the other three Cs are considered.

How jewelry is valued

While the majority of the appraisals we do are for insurance purposes (Retail Replacement Value), a Fair Market Valuation (FMV) is more appropriate when it comes to determining what you might expect to sell your jewelry for.

Two basic methods for determining jewelry value are the cost method and the comparison method.

Cost Method

While this method is usually used for insurance purposes the comparison method is the most appropriate when determining the FMV.

Comparison Method

While the latter is usually used for insurance purposes the comparison method is the most appropriate when determining the FMV.

Historical auction market results are used as a basis for comparison in determining your jewelry’s FMV. These values reflect what like items to your jewelry have sold for at auctions, being the most common market place for reselling pre-owned jewelry.

Diamond Grading Report

A diamond grading report from an unbiased, scientific source such as GIA is more than important information, it’s proof of what you are purchasing. The differences in diamonds can be so subtle, even a trained jeweller can’t recognize them without lab verification. Insist that any diamond you buy come with an indisputable verification of its quality.

diamond grading report

Where to get a jewelry evaluation?

In most cities there are a couple of certified jewelry appraisers. Imperial Gem Lab serves

Do you need a full jewelry appraisal

jewelry appraisal is a written professional estimate of the quality and value of an item of jewelry or gemstone.  It is an opinion of the value based on the appraiser’s expertise, research and gemological instruments used.

The details of the item contained within an appraisal document are most important as they help justify the final estimated value.

A Replacement Value Appraisal for the purpose of insurance is one type of appraisal where the precise details of the description are very important in order for the article to be properly replaced in the case of a loss.

What information is included in the appraisal report

Credentials
Date of appraisal
Date of examination of item (if different from date of appraisal)
Printed name and signature of appraiser or authorized representative.

Descriptions:
Name and address of person or firm for whom the appraisal was prepared
Type of item
Verification of authenticity
Quantity of pieces
Gender style (if applicable)
Metal & content analysis
Spot metals prices
Trademarks, hallmarks and quality marks
Detailed description of all stones (within limitations
– very small stones cannot be described individually)
Total gross weight of item
Photograph(s)
Currency used
Equipment used
Disclosure/limiting conditions (if applicable).

How should a consumer choose an appraiser?

Canadian Jewellery Association (CJA) recommends that you select an appraiser who is a Certified Appraisal Professional-CJA (CAP). CJA is the national jewelry trade association respected for promoting awareness, understanding and education within the jewelry industry. A Certified Appraisal Professional must adhere to a high level of professionalism and Code of Ethics laid out by the CJA.

Where to sell jewelry

A popular avenue for selling pre-owned jewelry is through auction houses. They provide you with a simple and efficient means to liquidate your jewelry.

Auction Houses

Dupuis Auction and Maynards Fine Art Auction are two Canadian auction houses that hold regular jewelry auctions. Among their services, both houses offer limited on line pre-auction estimates of your jewelry’s potential hammer price.

A link is provided here to access the input screens of Dupuis Auction and Maynard Auction

What do I need for an Auction House?

  • Digital photographs
  • Data from an appraisal report, called a Quality Analysis Report

Keep in mind that some auctions are reserved for particular types of jewelry. For instance Dupuis prefers to auction diamond jewelry containing carat and over diamonds, period pieces and high end brand watches

Quality Analysis Report

Imperial Gem Lab’s jewelry Quality Analysis Report and photography service will facilitate your quest to realize the best return for your jewelry. Although we do not buy or sell jewelry, our advice and services will help you save time and effort for a task that at times, can seem daunting.