Determining the value of used jewelry is at least as important as determining the value of your car or your house because sometimes, the value of jewelry can be tremendously high. Understanding the value makes not only selling easier, it also helps to determine the appropriate insurance coverage. The most common occasions why people need to understand how much used gold jewelry is worth are divorces and heritages. In some cases it can be required by law to know the value of gold to accept an inheritance properly. The crux of the matter is – it’s all about how much it’s worth.
Especially inheritances can be very complex to handle because usually no paperwork relating to the inherited jewelry is present, if so, it is too old to be used for a contemporary evaluation. Divorces are sometimes much easier to handle because purchase receipts or bill of sales are often kept for insurance purposes what makes at least a vague evaluation possible. But how can you help yourself to understand the approximate value of your jewelry at all and is doing a self-evaluation a serious option compared with hiring a professional appraiser? The short answer is, there is no short answer.
What makes gold jewelry valuable?
“The gold’s weight, the gold’s purity, the jewelry’s brand and the gemstones” – those four indicators are most decisive for the value in jewelry, says Maria Tait, reDollar Expert for jewelry and gemstones. But of course, also the condition and the appearance in general are impacting the value. Sometimes, boring looking jewelry can be worth a fortune while a fancy, sparkling piece sells for just a few dollars. Not always but very often even laymen are able to separate the treasure from the trash when they spend some time examining their jewelry. Continue reading “How much is used gold jewelry worth?”