General Question

PandoraBoxx's avatar

How does one go about selling good jewelry?

Asked by PandoraBoxx (18031points) November 24th, 2009

I inherited a gorgeous platinum, aquamarine and diamond necklace, earrings and ring set from a relative who passed away 15 years ago. I’ve kept them out of sentimental value, and have never worn them because I don’t go to places where they would be appropriate. They’ve been sitting in a safety deposit box at the bank for over 15 years.

I would like to sell them, but have no idea how to go about it, or how to find a jeweler who would best handle such a transaction. I assume I would need an appraisal and an insurance rider before I even showed them around. Where do I start? What do I avoid?

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9 Answers

beachwriter's avatar

You could contact an auction house like Christie’s or Sotheby’s. They are on Facebook these days, if you can believe that. My first stop would be a local fine jeweler’s that is well known to me. They carry some pricey vintage pieces, and I imagine they would do an appraisal and take the pieces on consignment.

Sounds like you already have a sensible plan in place—appraise and insure.

Good luck!

dpworkin's avatar

Public auction is probably the way to receive the fairest prive, but beware of fees and other costs. Make sure you understand your expected NET return before you sign a consignment agreement.

Local jewelry stores compete with one another to buy jewelry at auction, so they are likely to pay more under those circumstances than they would if they merely made you an offer.

Jewelry appraisals are notoriously flexible and uninformative, unless you take your stones to the GIA, in which case the appraisal will be a significant expense. Do not rely on an appraisal from a local jewelry store.

troubleinharlem's avatar

You could give it to me!
just kidding. xD

flameboi's avatar

Circa will be the best option, auction houses will charge you with huge fees to value and sell your piece, check here

PandoraBoxx's avatar

Thank you, all. @flameboi, Circa looks like it could be a good choice!

dpworkin's avatar

I think Circa is every bit as likely to subtract from your gross proceeds, but with less transparency than a good auction house. I have been in this business for 35 years.

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