We see a lot of people who come to our store with heirloom jewelry that has been passed down in the family for generations. Maybe they purchased a piece on vacation or it was received as a gift. Sometimes, it’s hard to even begin to know what your jewelry is worth! Our professional jewelers are trained to appraise jewelry to determine the value of each piece in today’s market. With some quick questions and information about the piece, we determine what type of appraisal/evaluation you require.
Preusser Jewelers discusses the factors that determine the type of jewelry appraisal you require.
Antique Jewelry
Just because a piece of jewelry is over 100 years old doesn’t necessarily make it worth more money. However, it can be a factor in the value of the piece. With your information and an inspection from our appraiser, we can find out together.
The biggest factors in the value of antique jewelry are what precious metal the piece is made from, the types of stones used, its size, the quality of craftsmanship, and the condition of the piece. Some styles are still desirable, while others have fallen out of fashion. Many factors go into determining the value of your antique jewelry. We can help determine if it has more than sentimental value!
Trends
Prices for diamonds and gemstones follow demands and markets. Gold, platinum, and silver are commodities, with pricing that fluctuates all day, five days a week. Gemstones fluctuate in value as well, but not as much as the metal the jewelry is made from. In addition to the actual value of the materials, people’s taste and fashion trends can be a factor in the value.
Types of Evaluations/Appraisals
Finally, we need to tell you about the different types of evaluations for your jewelry. These are based on the reason why you want to have your jewelry assessed in the first place.
Insurance Appraisal. The insurance value is determined when you want to have the jewelry insured. If you want to be able to replace jewelry if it is lost, stolen or damaged, your homeowners or renters policy will allow it to be replaced. We assign this value based on what that item would cost today, plus a small percentage to allow for fluctuations in the market. We strongly suggest that an insurance appraisal for homeowners or renter’s coverage be updated every five years.
Value. Intrinsic value is the lowest price on this scale. This is solely based on the current market value of the raw materials that comprise the jewelry. What the precious metals and stones are worth today is the intrinsic value of the piece. This can be a starting point for if you are wanting to sell the piece. Fashion trends and unique pieces may sell for more than the intrinsic value, but that can only be determined on the market.
Have More Questions? Preusser’s Has Answers!
Our professionals offer appraisals at our store. The fee is based on the style and the number of items you want appraised. When complete, we will give you full documentation of what each piece is worth in the current market to the best of our abilities. Contact us online or call 616-458-1425 for more information. An appointment is required.
