Multiple factors affect the quality and resale value of jewelry. Some of the most important factors include the jewelry’s design; craftsmanship; the materials used to create the piece; overall condition of the jewelry; whether the piece had any changes or repairs; rarity; and demand. Based on these factors and more, Biltmore Loan and Jewelry – a leading provider of upscale collateral lending and outright selling services in Phoenix, AZ – can estimate the resale value of your jewelry.
Factors That Affect the Resale Price of Jewelry
When you come to us for an appraisal, these are the top factors that impact the value of jewelry.
The design is a leading consideration in determining the quality and price of jewelry. However, personal preference also plays a role. Some pieces of jewelry fall under the category of antique, vintage, or estate, all of which typically have unique designs that only a few modern-day jewelry enthusiasts can appreciate. But adore them or not, most jewelry from a bygone era has high jewelry resale values.
As for modern designs, pieces from luxury jewelry brands and smaller, independent jewelers are also remarkable with their inventive textures, shapes, and inclusion of mundane, everyday items in jewelry design. Some examples are Tiffany & Co’s HardWear collection and Cartier’s Juste un Clou collection. Unbranded 18K gold dainty rope chains, fancy link bracelets, and heart-shaped diamond pendants are other examples.
- Materials Used
The materials of your jewelry affect its resale price significantly. For instance, if your jewelry is made of 18K gold, it will command higher prices than gold pieces with a lower karat value. If you have an eye-clean diamond engagement ring, it will most likely fetch a higher resale price than a ring with a semi-precious or synthetic stone.
- Quality and Craftsmanship
Is your jewelry well-made? Craftsmanship is another crucial factor that impacts the quality and value of jewelry. The structure of a high-quality piece is always harmonious and symmetrical. The mechanical parts, including the clasps, hooks, and links, should all function properly. A good jeweler ensures that the surface is polished or textured smoothly. Details should be well-defined, and the finish should be nothing shy of perfect.
- Modifications or Obvious Repairs
Remodeling jewelry, making changes to the original design, and replacing components classify as alterations. Specifically, converting 14K gold jewelry from one form to another (e.g. a ring into a chain link) can reduce the karat amount and, therefore, impact its resale value. Certain pieces from high-end jewelry brands (e.g. Cartier Love bangles, Van Cleef & Arpels Alhambra pendants) retain their value, however, making unofficial modifications, such as replacing damaged components with parts from an unauthorized repair center, can compromise the jewelry resale value.
Simply put, you may be able to sell unbranded jewelry for competitive prices since most pawn shops and outright buyers purchase jewelry based on quality, carat (for gemstones), weight, and a myriad of other factors. Pieces from designer jewelry brands are different because the original parts, the value of the brand itself, and overall authenticity drive their prices. As such, if you own any jewelry from luxury brands, ensure to maintain the original quality to retain its value.
Supply and demand determine the rarity of a piece of jewelry, and rarity depends on how much consumers want a specific jewelry type or design. A leading example is the rarer-than-diamonds Burmese Ruby. The Jubilee Ruby, which is set in an 18K gold band within a circular-cut diamond, sold for $14.1 Million at Christie’s New York Magnificent Jewels Auction in 2016.
- Type of Precious Metals and Stones
Containing a high amount of precious metals and the embedding of high-quality gemstones is the simplest classification of fine jewelry. Pieces made from metals like gold and platinum and feature gems such as diamonds, sapphires, emeralds, and rubies are usually more valuable than jewelry made from other metals and stones.
- Overall Condition
The condition of your jewelry is a crucial factor that determines its value in the secondary luxury market. If there are signs of damage (dents, loose or lost gemstones) or signs of significant wear (tarnish, scratches, dullness), potential buyers will offer a lower price for your jewelry.
An exception to the above statement is antique jewelry. Considering the age of something from a century or so ago, it’s understandable for such pieces to have visible signs of wear. If you own antique jewelry pieces, choose Biltmore Loan and Jewelry as your buyer instead of a pawnshop, as we can provide a more accurate evaluation and offer a more competitive price for genuine antique jewelry.
Did you inherit a necklace with a tragic story like the coveted Heart of the Ocean from Titanic? As working-class individuals, owning jewelry that commands millions of dollars per carat is, for the lack of better words, a dream that has yet to come true. However, a diamond engagement ring given to your great-grandmother before the love of her life succumbed in battle during World War II, or a Victorian choker from a relative who served the royal family has a fascinating story that will intrigue high-paying collectors. If you are willing to sell an heirloom with a deep and meaningful history, bring it to our office along with proof to support your story.
- Jewelry Brand
As you may already know, the brand of your jewelry can profoundly affect its value. Some people will pay top dollar even for costume jewelry, as long as it came from Chanel, Hermes, and other luxury brands.
Now that you are familiar with the factors affecting jewelry’s value, the next step is to sell your jewelry for a fair and reasonable price. Biltmore Loan and Jewelry has GIA-accredited experts who provide free appraisals, honest quotes, and same-day cash offers for fine jewelry. Drop by our office in Scottsdale or Chandler, AZ to sell your fine jewelry today. You can also complete our appraisal form to get an online jewelry valuation. Our team looks forward to helping you cash in your jewelry investments.