Jewelry Appraisal by Yourself: Learn to Evaluate
Have you heard about our jewelry value guide? No? We help you to learn how to make a fast jewelry appraisal by yourself. Why should you do that? Perhaps you have inherited some jewelry and you have to pay your relatives. Maybe you would like to precalculate the insurance value for your jewelry or you plan to sell your jewelry and want to know how much money you can expect? This are just three among many reasons why you should learn to evaluate your jewelry by yourself. Our jewelry value guide is the perfect tool for greenhorns to gain more knowledge about determining the value of jewelry.
Very important to know:
There is a big difference between the value of 95% of all circulating jewelry items made of gold and silver, and the value of extremely valuable jewelry, representing only 5% of all circulating jewelry. The large majority is old-fashioned, unwearable, vintage, broken, damaged, or junk jewelry. This kind of jewelry will be evaluated by just two factors: the content of pure gold and the weight. You need a scale, a magnifier, and the actual gold price per pennyweight or gram to proceed by yourself. Using tools like our gold calculator can help you to perform the first evaluation method.
- 1. Spot the gold stamp
2. Weigh your gold
1. Spot the gold stamp. Use a magnifier if necessary and find the gold stamp on your jewelry. Normally, jewelry is marked as 10K, 14K, or 18K gold. Other markings such as 585 or 750 are not unusual. These are European markings that indicate the gold purity as well. The marking 585 stands for 14K gold, 750 for 18K gold.
2. Weigh your gold. Once you have found a gold stamp on your jewelry and you know the gold purity, sort your jewelry by purity and put it on a scale to find its weight.
3. Calculate a price. When you know the weight of your gold jewelry and its purity, you can use our gold calculator to calculate a fair selling or pawning price. Let’s say you have an 18K gold necklace with a weight of 12 grams, or 7.72 dwt. Fill in the weight in the appropriate section of our gold calculator to find out the actual price we can pay you. In this case, the price would be $473.20.
You want to sell your jewelry? Get started now!
Value Determination of Jewelry by the Weight
Weight is one main factor in determining the actual value of your jewelry. The value determination of gold by the weight is not applicable for fine jewelry or jewelry from famous brands. This method is chiefly applicable for the value determination of scrap gold. Gold is estimated and sold by the weight, in pennyweights, or ounces. Twenty pennyweights equal one ounce. Weight is essential because it is the most important factor in calculating the amount of pure gold in your jewelry. To understand the concept of karat and the calculation of the pure gold content, you have to imagine that pure gold is a like a pie, divided into 24 equal parts. Each karat equals one part of this pie. 24K means that 24 of 24 parts are pure gold. 18K means that 18 of 24 parts are pure gold. And last but not least, 14K means that 14 of 24 parts are pure gold.
Calculation example for 18K gold:
18 divided by 24 equals 75.0% pure gold. If you have a gold necklace made of 18K gold, weighing 19 pennyweights, you calculate this way:
19 divided by 100 and multiplied by 75 equals the pure gold content
19/100*75 = 14.25 pennyweights of pure gold content.
Our current purchase price for one pennyweight of 18K gold is $61.12.
Our current purchase price for this 18K gold necklace is $1161.30.
But please keep in mind, you can never buy wearable and new jewelry in a store just by paying for the gold value. You have to add the costs of labor and workmanship, and when the gold item is made by a famous designer, you have to add the brand costs too. When you plan to sell your gold jewelry with us, you can count on a purchase price of 90%. That means reDollar pays you 90% of the current stock price for your gold jewelry. This is awesome and absolutely unusual for individual clients. Only gold refineries pay prices in the 90-percentage range to their commercial clients, such a high price is the great exception for private customers.
Important Factors Affecting Jewelry Appraisals
Design: A design is important not only for the finished look, but also because of specific details in the overall design. A good design requires an experienced and excellent designer. An experienced and excellent designer has his price and value. These costs will be added to the retail price. Jewelry design has become more and more important and popular. Companies like Tiffany and Co. are hiring famous designers like Paloma Picasso, Elsa Peretti,and Jean Schlumberger. Designs made by famous designers can be sold quickly, are highly sought after, and are much more expensive than classic pieces that are manufactured in high quantities.
Manufacturing method: The method of manufacturing is also a very important factor in the appraisal process. Handmade jewelry is more exclusive than machine-made jewelry, and some manufactures are very tricky. Blank jewelry will be finalized by hand to offer the items as handmade. Well-known brands also use this trick to appear more attractive. Look at your certification to find out more information about the way your jewelry was manufactured.
Diamonds and gemstones: Diamonds and gemstones are a very important part of your jewelry appraisal. To know how much your diamond could be worth, you have to know your diamond’s carat weight, color, cut, and clarity – the well-known 4Cs. It’s easy to get a quick idea of how much your diamonds could be worth by using the reDollar calculator. Also, our articles sell 1 carat diamond, sell 2 carat diamond, sell 3 carat diamond, and sell gemstones online will give you useful information about prices and value estimation for diamonds and gemstones.
Finalize Your Jewelry Appraisal
1. Calculate the value of the pure gold content.
2. Try to calculate the value of your diamonds, and if you need help, consult an expert and appraiser like Tamay Rostan to find out more about the 4Cs in your diamonds.
3. Count an additional amount for very famous brands like Tiffany, Van Cleef & Arpels, Chopard, Cartier, or others.
You are done. Now you should have calculated an approximate value of your jewelry. Get in touch with our customer service for more information or get started online to receive a free purchase offer for your jewelry. Please bear in mind, there is no obligation to sell at any point of time, and this process is free to you, with no hidden costs or fees. reDollar.com – Transparent and Beneficial like a bank.
Request Your Independent Jewelry Appraisal
Contact us and request your independent jewelry appraisal. Our experienced jewelry appraisers will evaluate your jewelry and provide you with printed appraisals, which are perfect for insurance purposes. Every 90 seconds, a burglary occurs somewhere in the United States. To be secure against financial losses, request a jewelry appraisal from our experts so that your insurance company covers your financial and emotional loss. The appraisals will be performed by gemologists who have graduated from GIA, the Gemological Institute of America. Our experience can reduce your risks significantly. In times of a fast-changing jewelry market, an unbiased opinion from an expert is what you need. Insurance companies don’t accept bills of sales as basis for insurance coverage. The replacement value of your jewelry has to be defined in detail: this is what our appraisals are there for. Request a sample so that you can see what your jewelry appraisal will look like.
Prices: For your first in-depth jewelry appraisal, we charge $95.00. Every additional appraisal costs $75.00.