The Dos and Don’ts of Jewelry Appraisal

AGI NewYork — Mon, 19 May 2014 11:45:36 +0000

In the current economic climate, selling jewelry can provide instant cash to ease your financial woes. However, jewelry appraisal in New York is as difficult as it gets. With so many pawn and jewelry shops around the city, it becomes next to impossible to get a fair value of how much your precious metals are worth. You may end up selling your jewelry for far less than its actual worth. However, with the right mindset and some homework on your part, you can get the best value for your jewelry. Before you head down to the closest jewelry appraisal service or online jewelry appraisal, consider these few dos and don’ts to make sure you don’t end up earning less money than you should

DO – Check the Latest Rates

Precious stones and metals like diamonds, gems, and other jewelry material tend to increase in value overtime. However, you may end up selling your jewelry on a day when the market is down. Hence, it is advisable to check the latest market rates for your jewelry. If your jewelry has embedded diamonds on gold, then check the price of gold and diamond. Similarly, if your jewelry has gemstones with precious metals, determine their value as well. Expect a slightly lower value for your jewelry than the market price, but don’t sell it for over 10% lower!

DON’T – Sell To the First Jewelry Appraiser

This is the most common mistake that people make when getting their jewelry appraised. The fact is that every jewelry appraiser is looking to buy from you for less and sell it for more. Entering into a jewelry appraisal shop with this in mind will help you in avoiding the temptation to sell immediately.

DO – Check With At Least Three Jewelry Appraisers

Remember the three-rule! Visit at least three different jewelry appraisers to get a fair estimation of your jewelry’s worth. If you feel that you have the best quote from one based on the current market price, then go ahead and sell. But if you believe you are not getting fair rates then you can always visit another appraiser. The key is to be patient and good money will come along eventually!

DON’T – Sell In Bulk

Never make the mistake of selling your jewelry in bulk. This often leads to getting an under appreciated value of your jewelry. Different jewelry will have different age, cut, and karat value. By mixing your jewelry together, you are basically mixing high value jewelry with moderate value ones. And what’s the result? You end up getting a moderate value for your jewelry. Hence, make sure that you separate your jewelry and get them appraised accordingly. This will provide you with a better estimate of their worth.

Conclusion

A great way to get your jewelry appraised today is to look for online jewelry appraisers. AGI New York can provide you with the best value of your jewelry by using AGI instruments and other modern methods to determine their value. With our help, you can earn maximum cash on your jewelry!

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