Selling jewellery

anypotter

2 years ago I inherited a gorgeous ring from my late aunt.

It is very pretty, I'd say still a very commercial item but far too small for me and not something I would wear. Even if I had it made bigger it would ruin the setting so not an option. I'm not a ring wearing person really.

The time has come where I need some cash to set up home with my son (currently living with nanny) for boring stuff like a washing machine and telly and I'd like to sell it.

When I initially received it, I had it cleaned and valued by a local jeweller along with another item, which I love and wear and will Kerr forever. Quote says it's value is £2000+.

A local pawn shop today offered me £200.

I'm now stumped and need to know what to do for the best. £200???? Help

fwor

anypotter wrote: »

Quote says it's value is £2000+.

A local pawn shop today offered me £200.

In all probability, the value quoted by the jeweller is meant as a "value for insurance purposes". That means the cost that ~you~ would have to pay to replace it at retail price, not what a dealer would pay you for it.

A pawn shop, on the other hand, will always value conservatively, because they don't want to make a mistake and make a loss when selling it on.

So its "real" value is probably somewhere between the two. Have you tried a jeweller's instead? They will probably offer more than the pawn shop, provided it's the sort of thing that sells in their area - but don't expect anything massive. Pawn shops may undervalue, but they tend to know their stuff pretty well.

Hintza

But will probably be closer to the lower value. Try a local auction house? (or go round a couple of jewellers and get a price)

Davesnave

Reputable , non-national chain jewellers will give you an opinion and may offer, giving you a better idea of value if you visit, say, three or four.

They may want the stone if there's one of high quality in there, even if they don't want the ring as a whole.

Some might offer to sell it for you on commission, if it is the type of ring they feel is in their market sector, but their cut will be substantial. This is because jewellers will expect to make at least 2.5x whatever they pay for an item in the normal course of business.

One person's 'gorgeous' is as good as another's, but unfortunately, fashion trends can go against certain items of of the jeweller's craft, causing them to lose some value over time, rather than gain.