🎁 Save an Extra £100! Use Code: NEW100 - shop now

19 Jun

Role of Certification And Appraisal When Selling Pre-Owned Jewellery

Sellers face a significant challenge when navigating the world of secondhand jewellery, balancing emotional attachments with determining resale prices. Appraisal and certification play a crucial role when you decide to sell your jewellery. These elements not only maximise the value of your pre-owned jewellery but also ensure a smooth transaction, which is paramount when selling your valuables.

Unlike to what many people think, understanding the value of your jewellery is not just about appreciating its aesthetics or knowing its price tag. It is rather a more detailed and complex process called appraisal involving various factors. And, certification verifies the quality, originality and characteristics of the jewellery.

To make it easy for you, we’ve shared some insightful details about the selling process of pre-owned jewellery, including how appraisal and certification play a pivotal role in ensuring a transparent and informed transaction.

Let’s start with the basics.

What is ‘Appraisal’?

An appraisal determines the exact worth of your pre-owned jewellery. The outcome is based on various factors such as the jewellery’s craftsmanship, brand, condition, age, gemstones, rarity, and market value. Appraisals are done by a qualified professional or appraiser who provides a detailed report outlining the item’s market value. In short, appraisal involves assessing the monetary value of your pre-owned item.

Importance of Appraisal

  • Set a realistic selling price – appraisal provides a comprehensive understanding of your jewellery’s significance. As you are aware of the item’s monetary worth, you can set a fair and competitive price when selling it.
  • Better negotiation– during negotiation with the buyer, the appraisal report can prove advantageous when the appraisal aligns with the market expectations.
  • Informed decision-making – appraisals verify the authenticity of your item and assist you in making informed selling decisions. Depending on whether the appraised value of your item is high or low, you can make significant changes in your decision. Also, for those who possess inherited jewellery, appraisals help you make educated choices about whether to keep, sell or modify the inherited jewellery based on its appraisal value.
  • Appropriate insurance coverage – jewellery appraisals accurately evaluate your item for insurance purposes. An updated appraisal report card allows you to obtain appropriate insurance coverage during theft, loss or damage. During an unfortunate event, the appraisals ensure you receive fair compensation.

What is the process of Appraisal?

The process of jewellery appraisal involves a series of careful steps that a professional appraiser carries out with the utmost proficiency to ensure you get the best value for your item. Understanding this process will give you an insight into the details that determine the value of your used jewellery.

  • Inspection

    The appraiser examines the jewellery piece thoroughly, including assessing its condition and noting any modifications, repairs, or wear and tear that may impact its value.

    • Documentation

    The appraiser documents various details of the jewellery, including its weight, measurement, and any engraving or marks. This document not only establishes the product’s identity but also works in future identification.

    • Gemstone analysis

    If your jewellery contains gemstones, the appraiser considers the gemstone’s cut, clarity, colour and carat weight for an accurate analysis.

    • Metal assessment

    The type of metal and its purity also affect the value. For example, in the case of gold jewellery, the appraiser determines whether it is 18ct or 14ct and verifies its authenticity.

    • Market research

    The market value of the jewellery piece plays a key role in deciding its value. So, the appraiser thoroughly researches the market to establish the market value of your jewellery item. This includes finding out its supply and demand, market trends, and comparable sales data specific to the type of jewellery being appraised.

    Moving on to the next part..

    What is jewellery ‘Certification’?

    When purchasing or selling jewellery, it’s essential to secure the value of your investment. That’s where certification comes in. A jewellery certification report verifies the characteristics and quality of the jewellery at the time of purchase. It works towards adding to your item’s worth as proof of authenticity.

    For gemstones and diamonds, the certificate involves grading based on the 4 C’s—cut, colour, clarity, and carat weight—determined by reputable gemological laboratories like IGI, GIA, or AGS. For other types of jewellery, like gold jewellery, the certification includes details like gold purity or the presence of hallmarks, indicating authenticity.

    Importance of ‘Certification’

    • Authenticity assurance—A certified pre-owned piece of jewellery gives buyers confidence regarding the quality, originality, and characteristics of the jewellery they’re purchasing.
    • Resale value assessment—Certification helps establish the market value of the jewellery based on its attributes, which is crucial during appraisal or making a sale.
    • Increases saleability—Certified jewellery is more attractive to potential buyers as they can rely on the item’s authenticity, increasing the chances of a successful sale.

    Best Practices For Selling Pre-Owned Jewellery

    When selling your pre-owned jewellery, consider a few key practices to get the best value for your item.

    • Gather documents: Keep all certification and paperwork ready, as they serve as essential proof of authenticity and add value to your item.
    • Get an appraisal: Having your jewellery appraised beforehand will give you an idea of its market worth, and you can set a price and negotiate accordingly.
    • Choosing the right buyer: Sell your jewellery through reputed online and in-store sources to get your desired price. Choose a reputed buyer with the right expertise and experience.
    • Be transparent: As a seller, you must be fully transparent about your jewellery, including its condition, certification and other details, to build trust with potential buyers.
    • Wait for the right time: Keep track of the changing market trends and sell when you get a higher value for your piece. Remember, buyers always look to buy jewellery when the prices are low. But as a seller, you must wait for the opportune time.

    CONCLUSION

    Now that you know how both parts are important when selling jewellery, it is important to find a qualified professional with the knowledge, experience, and training to evaluate your pre-owned jewellery accurately.

    Luxbrokers is a renowned name in the industry with over 40 years of combined experience in appraising and buying pre-owned jewellery. We stand by our promise to provide accurate appraisals and the best possible value for your jewellery item, and we do so with our streamlined selling process.

    If you’re interested in finding out the value of your pre-owned jewellery item, simply fill in our online form and receive an instant valuation without any charges or costs. Knowing the value of your item will give you the confidence you need when selling your valuables.

    Home Menu shop sell pawn
    whatsapp us