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How Much is My Jewelry Worth? 4 Ways to Estimate Jewelry Value

Imagine being handed down a jewelry box filled with different types of jewelry. You’re considering reselling some of these items and dividing others among your siblings, but you’re unsure about the jewelry values. You might not even know if you’re looking at a real diamond or a fake one.

While it can be challenging to estimate the value of jewelry, there are a few ways to get a general idea. In this blog post, I’ll discuss four different methods for estimating the value of a piece of jewelry, along with some information about value standards that you’ll need to know. So, if you’re curious about how much your necklace or ring is worth, read on!

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Why It’s Important to Know the Value of Your Jewelry

Valuable jewelry might seem priceless, depending on how you got it and what it means to you, but from a financial standpoint, that might only sometimes be the case. Various factors can affect the value of your piece of jewelry, including precious metal prices, jewelry quality, and the valuation period of time, among others.

You might have different reasons why you’d want to know about the value of your jewelry item. If you wish to have an heirloom jewelry item insured or divided among family members or are looking for a resale opportunity, knowing your jewelry’s value ensures that you get compensated or receive the amount that you’re jewelry is truly worth.

Read More: Why It’s Important to Know the Value of Inherited Jewelry

Different Standards of Jewelry Value

Did you know that your jewelry can be valued at different amounts? For example, a piece of gold jewelry can be valued at ₱3,000 or ₱30,000. This happens because of the jewelry value standard.

The standard of value sets the monetary value of your jewelry based on certain guidelines. There are four standards, which I’ll elaborate on below:

Replacement Value

When people think of determining the value of jewelry, it’s common that they want an insurance appraisal. As the name suggests, this standard determines the value of replacing your jewelry in case it gets stolen or destroyed.

Some insurance companies require an appraisal to determine the value of the item you want to be insured. The value is not based on your jewelry itself but on what a new piece of jewelry like it would cost.

Estate Retail Value

On the other hand, a jewelry value standard that considers the jewelry piece itself is the estate retail value. This determines the optimal resale price a buyer would consider if you sell them your jewelry item.

Related: What to Expect From an Estate Jewelry Appraisal

Estate Wholesale Value

This value determines the price a business selling pre-owned jewelry would consider paying. It’s usually lower than the previously discussed value since knowledgeable buyers must consider the costs of running their business and how much they would sell the item.

Intrinsic Value

Lastly, the intrinsic value is based on the worth of the materials that make up the piece of jewelry. For example, it considers how much the type of metal and gemstone is worth in the current market.

Ways to Estimate Jewelry Values

There are various ways to come up with an estimate of your jewelry value. Of course, I recommend that you reach out to jewelry experts to determine the accurate values, but there are some methods that you can do at home to determine if your jewelry is valuable or not. These would help determine whether you have real or costume jewelry.

Check hallmarks

One way to determine if you have real or fake jewelry, you can look for hallmarks, as fine jewelry usually comes with these. These markings tell you the item’s metal content, designer/manufacturer, and others. For example, you might find a “22K” marking on your gold ring.

Check the jewelry’s condition and quality

You should see if the piece of jewelry is free from damage. If it needs more repairs, it would be valued less. You can feel the surface of the piece and look at its color. If your gold necklace has chipped off or has darker colors, it’s likely just painted gold, making your item less valuable.

Do the magnet test

Another way you can determine if your type of jewelry is real, you can use a strong magnet. Real gold will not attract a magnet, while fake ones would. The same goes for genuine sterling silver.

Get a jewelry appraisal

The best method I recommend you use to determine your jewelry value is finding a reputable jewelry appraiser. Depending on the purpose of the appraisal, a professional can tell you the monetary value of your item instead of just getting a general idea about whether it’s valuable or not.

Benefits of Getting Your Jewelry Appraised by an Expert

I highly recommend reaching out to a professional jewelry appraiser because we know exactly what we’re doing. Sure, you can conduct your research independently after determining if your piece seems genuine, but there’s always room for error if you don’t have the right equipment and jewelry knowledge.

As experts, we provide an accurate appraisal. This means you’ll know the correct value for your jewelry replacement insurance or understand why your resalable jewelry item should be worth a specific price.

Jewelry Value FAQs

Is it worth getting my jewelry appraised?

Yes, it’s most definitely worth it. While you might think that paying additional costs is not worth it, the rewards and benefits you gain from having an appraisal greatly outweigh these reasonable costs.

Should you get an appraisal before selling jewelry?

It’s much better to get an appraisal before selling your jewelry. The appraisal keeps things fair, not only for a jewelry customer but even for you as a seller. The appraisal ensures that you’re getting paid the right amount of what your jewelry piece is worth.

Why do jewelry insurers pay you less than retail?

There are two types of jewelry replacement insurance: actual cash value and agreed value. In the case of the former, you won’t get the full amount of retail replacement value in cases of loss or theft since insurers consider depreciation and obsolescence. 

On the other hand, the agreed value policy guarantees you the full retail replacement value, but this type of insurance policy usually costs more. In addition, when getting this policy, it also has to be adjusted every few years, which means you also need re-appraisals. 

Choose W. Villarice For The Best Jewelry Appraisal

Willyn Villarica is your trusted partner for jewelry appraisal services, catering to clients around the globe. Our expertise and commitment to excellence ensure accurate and reliable assessments of your precious gemstones. It’s important to note that while we offer our services worldwide, clients are responsible for covering all travel expenses. Don’t miss out on the opportunity to have your diamonds expertly graded by Willyn Villarica.

As I’ve mentioned, getting an appraisal is the best way to determine your jewelry value. At Willyn Villarica Jewelry, we abide by industry standards to ensure you get an accurate appraisal of your jewelry item. Reach out to us at admin@willynvillaricajewelry.com for inquiries or to schedule appointments. You can also connect with us on our official Facebook (Willyn Villarica Jewelry) and Instagram (@willynvillarica_jewelry) accounts. If you need further assistance, feel free to give us a call at +63279497547. Contact us today and embark on a journey of unrivaled quality and assurance for your valuable investments.

  • Willyn Villarica

    Willyn Villarica, a third-generation jeweler from the Philippines, brings a wealth of expertise to the world of gemology and jewelry appraisal. As a licensed Graduate Gemologist, accredited by the prestigious Gemological Institute of America, she is not only a master of her craft but also holds the distinction of being the first Filipino member of the National Associ...

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