Where to sell expensive jewelry? Asked Amelia
Maria, I have 3 very valuable pieces from a heritage. I know that they are very valuable because I have a proof of purchase. You already did an evaluation for my brother, he recommended your service to me. He also inherited some jewelry which he already sold with you. I don’t know much about bangles and jewelry so I send you just the photos and the copy of the paperwork I have. I like to sell these bangles very soon and hope you can give me an idea about the value. Plus, where to sell expensive jewelry? I’m in hope to get paid a high price.
Amelia from Los Angeles in California
Dear Amelia, your bangles are really magnificent and outstanding. You have to tell me where they are from. I’m sure this bangles could tell us an exciting history. I have never had 3 such exclusive bangles from one and the same sellers to appraise. It’s a very nice challenge for me.
reDollar appraiser, Maria Tait
Amelia asked Maria, where to sell expensive jewelry?
Amelia: I’m very happy to get your advice. I told you, I have inherited 3 very expensive bangles. I think they all are designer pieces and very unique. I have 3 receipts here showing a total selling price of about $69,000. I know that selling pre-owned jewelry for the original retail price, won’t work. It’s the same with other used things, isn’t it? Where to sell expensive jewelry? And how can I make sure to find the right buyer? I asked a jeweler in my town and he offered me a ridiculous price of 10 grand for all pieces. I’d better keep the bangles if I don’t get a higher offer.
Maria: We know well about selling problems with expensive jewelry. Lots of buyers are afraid to pay too much money. The majority tries to buy such exclusive pieces for a bargain to prevent a loss of capital. Generally, I understand the idea behind the price building process but I think buyers should work on their ability to pay higher prices. Look, your pieces are very outstanding. I know that these bangles are very interesting for our company to buy. We are able to resell them to one of our regular customers within a couple of weeks. As you will learn later, I also don’t see a current market value in the range of the original price but anyway, $10,000 is not acceptable for such wonderful pieces. To be honest, $10,000 is a fraudulent offer. But as I told you and many other clients of us, finding a buyer for jewelry is not that easy. I see a couple of ways for you. You can sell your bangles with our company, with an auction house, by sale on commission or to a very specialized jeweler.
Amelia: Tell me more please! Where is the difference between your company and other selling options?
Maria: Let me be very honest with you, Maria. All companies exist because they plan to make some money. Unreliable buyers try to multiply their investment. Honest players are satisfied by making only a 10%, 15% or 20% margin. It depends on the item. You have to make more money if you know that the jewelry you buy stays in stock for a while or if you have to invest money in advertising, to get the item sold. It really depends. Our company would calculate a 20% margin down from the realistic selling price. Auction houses and sale on commission companies charge you a selling commission of up to 25% of the selling price plus sometimes a fee for storing. Other buyers like the mentioned reliable jewelers or jewelry dealers charge you between 15% and 30%. I don’t say that our company pays the highest price because other buyers maybe see a higher resell value as I do. Nobody knows. The questions is, do you want to compare countless buyers over weeks or months, spending your time to increase your payout amount for some percentage points? We recommend watching out for a very high price but we also recommend avoiding a comparison- nightmare.
Amelia: I would say, let’s talk about the value before we examine my question, where to sell my expensive jewelry? When I have an idea about the value, I can follow your explanations better.
Maria: That’s fine. Let’s start with the bangle showing the hallmark “© KW PLAT” besides the serial number. The initials show that this piece was created by Kurt Wayne. Kurt Wayne jewelry is so extremely exclusive that his items were marked with serial numbers. This bracelet shows in total 565 diamonds with an estimated weight of 22.35 carat. It’s made of platinum (see “PLAT”) and seems to be in excellent condition. I see the realistic market value ranging between $17,000 and $18,500. The dimensions are beneficial because the inside circumference shows approx. 6.25″ what fits to the average of potential buyers. It’s a very fine piece and Kurt Wayne is known as a designer for fabulous jewelry. You can be very happy to have such a stunning bracelet.
Amelia: I have never heard about Kurt Wayne but I fully agree to you, it looks gorgeous.
Maria: The next item I would like to talk about is your panther bangle. The hallmark shows “Kutchinsky” a British jewelry manufacturer, plus the number 18. This means that your item is made of 18K gold and made from the very well-known jewelry manufacturer Kutchinsky. The designer is original from Poland and came to England in the 1890s. For almost 100 years, they are known for finest jewelry art and designs coming with most expensive materials and gemstones. Related to the certification, your bracelet weighs 131.7 grams. VVS and VS Diamonds weighing 6.24 carat in E and F color were used to create this stunning piece. The name “Kutchinsky” sells and therefore I see a value in the range of $20,000 to $23,000 for this piece.
Amelia: I was very sure that this piece is very expensive. Not only because of the sales receipt, it’s also very special to me.
Maria: Yes it is. And please consider that the used materials are worth more than the materials Kurt Wayne has used. Nevertheless it’s more valuable than the Kurt Wayne bangle. But also your third bangle is museum piece. It’s hallmarked “JUDITH RIPKA 18K” showing a horseshoe too. It’s an 18K white gold cuff bangle showing 3.50 carat diamonds in VS F. The total weight is 65.4 gram in size 7. I’m pretty sure that this piece sells between $10,000 to $11,500.
Amelia: Sounds realistic to me. Let me summarize your evaluated amounts: you calculated between $17,000 and $18,500 for the Kurt Wayne bangle, between $20,000 and $23,000 for the Kutchinsky bracelet and between $10,000 and $11,500 for the Judith Ripka piece. In total between $47,000 and $53,000 for all 3 pieces. If I understood you correctly, you estimated the realistic selling price. What does it mean? Is this the price your company would pay for my exclusive jewelry, or do I have to subtract your dealer margin?
Maria: You have to subtract the margin. Our purchase price would be between $30,000 and $35,000. But you know, it’s an evaluation from afar. I have to see the jewelry in person to calculate the binding offer for you. But I’m sure that my final offer will end up in that range because you provided very good photos and also the selling receipts were very helpful to me.
Amelia: I was expecting a little bit more for the jewelry but anyway, your offer looks very attractive to me. Give me some days to think about it.
Maria: Of course Amelia. I thank you for your inquiry.