How to Value and Sell Your Inherited Jewelry

Difficulty: Moderate

Instructions

Things You'll Need:

Camera
Notebook or computer
Dry storage
Soft toothbrushes
Loupe (10X)or magnifying lens

Step 1

Separate Silver & Gold Jewelry

The first step is to sort what you have in an orderly, organized fashion. Having spent entire days processing mountains of jewelry for clients, we suggest the following :
1) Use a magnifying lens to examine the jewelry. Marks are generally found on the back and inside of rings & lockets.
2)Separate costume jewelry - signed from the unsigned jewelry
3)Damaged, missing stones, broken costume goes into one pile. Use small baggies to keep damaged jewelry together.
4) Sort gold jewelry marked 10KT, 12KT, 14KT, 18KT
5) Identify all silver marked 800, 925,Sterling, 950, 980
Step 2

Lay out the Jewelry for Family Members to Choose

After sorting, decide what you want to keep. Ask family members to choose from the jewelry. If you are the only person involved, inventory with a notebook or computer to determine its value . List by these categories: costume (signed, unsigned) gold, and silver. Describe the jewelry item as bracelet, brooch,necklace,or ring. Note the markings and condition.
Step 3

Gold Scrap Price Calculator

Gold and silver jewelry have values based on the gold and silver content and to a lesser extent the gemstones.Gemstones above five carats need appraisals from certified appraisers, not local jewelers ball parking values. Many people sell their old gold jewelry for the gold value. "Scrap", as it is called can sometimes be a disappointing experience. Understand the price of gold changes daily. There is free gold scrap calculator software you can download to help determine price. Weigh your jewelry on an accurate gram scale and know the KT value.Gold scrap buyers do not take into account the beauty, age or unique design of the jewelry.
If your jewelry is older than 50 years, paying for an appraisal or evaluation may be a worthwhile investment.
Step 4

Don't Use eBay to Establish Values

Decide what jewelry you want to repair. Have a reputable local jeweler with an in house bench jeweler give an estimate. Some signed costume jewelry is worth repairing. Go online to establish values at some of the vintage and antique jewelry sites. eBay is generally an unreliable estimate of jewelry values due to many fraud factors.
Step 5

Use Old, Soft Tootbrushes for Cleaning

Old costume jewelry is often the most fragile to clean. Soft, old toothbrushes can remove dirt. White vinegar on a cotton tip dissolves green gunk. Rings with gemstones need special care. Use distilled water & a gentle dish washing liquid in a bowl to soak & clean rings. Many gemstones cannot be ultrasonically cleaned without damaging them. Never clean jewelry standing over your sink. Never dip your jewelry in tarnish removers.
Step 6

National Association of Jewelry Appraisers

Once you have a jewelry inventory and have some rough ideas of value, decide whether you need an appraisal. The National Association of Jewelry Appraisers is a good starting point. Generally, appraisers will not buy your jewelry. Find appraisers with gemological certifications (GIA, AGS). Explain how many pieces you want appraised. Appraisers will ask you what type of appraisal you want and explain the differences.
Step 7

Heritage Auctions Accepting Consigments for High Value Jewelry

Where do you sell your jewelry? Depending on its value and age, you have many options. Contact antique dealers who specialize in jewelry to see if they want to buy your jewelry. Vintage and antique jewelry websites often list jewelry they purchase. Take pictures of your jewelry,(front and back) to send. Describe dimensions,including damage, in your descriptions. For very exceptional jewelry of higher value ($5000+) try contacting the major auction houses like Sotheby's and Christie's.
Free classified listings on oodle and craigslist may help sell the jewelry.For personal safety, do not supply your address.