Following an inheritance or a gift, do you own jewelry whose value you don't know? A free jewelry appraisal can be performed in several ways, to obtain a realistic price range or verify its authenticity. An appraisal is also essential for taking out insurance or dividing up assets.
Jewelry Stores and Jewelry Stores
Jewelry stores often offer free appraisal services. The appraisal is based on the price of the new jewelry and current market values. It is not a buyback price, but an assessment of value. It is therefore important to keep in mind the discount that will apply between the current new price and the repurchase price of a second-hand piece of jewelry. Furthermore, only expert gemologists can provide a reliable appraisal of set jewelry. Specialization in antique jewelry, based on a solid knowledge of art history and jewelry styles through the ages, allows Gemme jewelry stores to estimate the price of a vintage or antique piece of jewelry.
Online Appraisal
A quick and free appraisal is available with an online jewelry store. This is the solution to determine the value of the jewelry you own based on its materials, style, period, and originality. Even when performed with the utmost care, any online appraisal must be considered a preliminary appraisal. The jewelry must be submitted to our expert jewelers and gemologists to confirm its appraisal. Having a jewelry appraisal online based on photos is a free and quick solution to satisfy your curiosity, obtain an approximate value, or confirm the materials used in the jewelry.
Independent Expert
It is also possible to hire independent experts. In this case, it is advisable to choose a professional specializing in jewelry and gemology, rather than a generalist. Experts from a given period can be useful if you want to have vintage jewelry appraised, for example. Some associations are renowned for their reliability and require their members, like the French Association of Professional Art Experts, to pass an entrance exam and have several years of experience. Court-appointed experts are also recognized for their expertise. Find some pitfalls to avoid at the end of the article!
Appraisal by an auctioneer before an auction
Having a piece of jewelry appraised by an auctioneer has both advantages and disadvantages. Auction houses regularly organize free appraisal days to appraise valuable jewelry and antique pieces. Auctioneers are authorized to perform insurance appraisals. When selling jewelry after an appraisal, it can be sold as is, without requiring repairs. Sometimes, the purchase price can exceed the appraised value. However, auctions also have their drawbacks: among them, the fees applied can be as high as 30% of the sale price, the waiting time for the catalog to be compiled, which can take several months, and the risk of not finding a buyer. At Gemme Jewelers, valuations are generally very close to those made at auction houses, but payment is immediate!
Public Auctions and Pawn Shops
Public auctions differ from traditional auctions in that the objects, jewelry, furniture, or real estate, are put up for sale by the State, which has acquired ownership through seizure, donation, or abandonment of property. It is also possible to have a piece of jewelry appraised by a pawnbroker, also known as a pawnshop or municipal credit union. The jewelry is deposited as collateral in exchange for a loan representing 50% to 70% of its value. It can be recovered by repaying the loan and its interest. Otherwise, it will be put up for public auction.
Pitfalls to Avoid
The term "expert" is not regulated and does not always guarantee actual skills for the appraisal of your jewelry. It is particularly recommended to be cautious about the term "public auction expert," which can be claimed by anyone who has helped organize an auction, even occasionally. Some appraisers make a living buying jewelry at very low prices, making undervalued estimates.
If you contact a non-renowned expert for an initial appraisal of the jewelry, obtaining a second opinion from trained gemologists such as those at Bijouteries Gemme is essential to ensure a fair and well-founded appraisal.