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And yes, you could have a major auction house look over your collection but... remember that if they take your jewelry on consignment, they take a high commission from the sales price. And are you willing to have them sold without a reserve? Meaning that if the winning bidder has not much competition, they could end up buying your jewelry for their scrap metal content... but the auction house still takes their cut and you end up with getting less than if you sold it for scrap yourself. And if you set a reserve price (the minimum) you are willing to have it sold for, if the jewelry doesn't make reserve on the bidding floor, you will owe the auction house a fee for them handling it.
Also, with diamonds, unless the diamonds are of a good quality and at least a full carat, most dealers will not pay a premium for diamond jewelry. And the same goes for if the diamonds were enhanced.
Is the reserve you mention the same thing as a reserve price?
I have two potential buyers coming within the next week to look at the jewelry and offer a price. One is an auction house and the other is part of the team to whom I sold many items belonging to my late parents when I downsized several years ago - they do estate sales and auctions (I will have a choice, should I sell to them, of having them buy the pieces outright or by them to auction later, for which I could get an advance). I am also going to see the jeweler who appraised them and see what he might offer to buy them.
I am going to sell 24 pieces, possibly 23. I'm holding back nine pieces that have sentimental value. There's a diamond pin that I remember my mother wearing that I feel like keeping, but it's one of the more highly valued pieces; so I'm not sure.
If it's not too late, I'd beg you to go to a second, or even third, appraiser.
Do you live anywhere near a big city, particularly NYC?
I appreciate the thought, but I'd rather not spend more money on another appraisal. I do plan to get 4 or 5 of the pieces verbally appraised for market value before making my final decision, at an appraiser/jeweler I haven't used before.
Has anyone heard that the (comparatively) recent boom in laboratory-made diamonds has lowered the prices of diamond jewelry (prices went down in Fall 2023?)?
That's what one potential buyer told me. I am wondering whether it was true or an excuse to possibly make a lower offer some of my jewelry than I would like.
Has anyone heard that the (comparatively) recent boom in laboratory-made diamonds has lowered the prices of diamond jewelry (prices went down in Fall 2023?)?
That's what one potential buyer told me. I am wondering whether it was true or an excuse to possibly make a lower offer some of my jewelry than I would like.
Does any of your diamond jewelry have larger stones? And what quality are they? Eye clean stones and very white in color are desirable. Poor quality diamonds are not desirable. High quality natural diamonds will always be worth more than man-made stones. Enhanced natural diamonds are also not desirable.
And of your jewelry pieces, where were they purchased? If they are plain gold and not made by a high end jeweler, then they are only worth the scrap metal value based on their weight.
Unless you post pictures of your jewelry, it's extremely difficult to give you good advice on how much to sell them for (a premium price versus gold scrap value). And again, unless the diamonds are of good quality and large, on the resale market, tiny diamonds aren't worth very much.
Does any of your diamond jewelry have larger stones? And what quality are they? Eye clean stones and very white in color are desirable. Poor quality diamonds are not desirable. High quality natural diamonds will always be worth more than man-made stones. Enhanced natural diamonds are also not desirable.
And of your jewelry pieces, where were they purchased? If they are plain gold and not made by a high end jeweler, then they are only worth the scrap metal value based on their weight.
Unless you post pictures of your jewelry, it's extremely difficult to give you good advice on how much to sell them for (a premium price versus gold scrap value). And again, unless the diamonds are of good quality and large, on the resale market, tiny diamonds aren't worth very much.
I am uncomfortable with the thought of posting pictures of my jewelry.
The size and quality of the diamonds vary with each piece. Right now, I don't have the time to list all of them. They are mostly not very large.
All of the jewelry is family legacy and I was not told from what stores or auctions or my parents, grandparents, great-grandparents, etc. purchased them. There is certainly nothing bearing the mark of Tiffany or Cartier. The only emblems were Baume et Mercier (a watch) and Glycine (another watch).
I have learned that, sadly, watch-pins are not in fashion and the very nice one I have to sell is unwanted.
I now have three estimates/offers for the jewelry I chose to put on the market (I'm holding 10 pieces back, for mostly sentimental reasons though one of the pieces is quite nice).
#1 - from Bonham Skinner: 10% commission plus 1.5% charge for insurance, they estimate between $15000 and 20,000.
#2 - from another auction house which also sells globally: 8% commission, cash advance of $6000, estimated to sale (with disclaimers of course) at $18000 (which is between the Low and the High estimates - $around 15000 for the low, around $22000 for the high).
3. A local jeweler, 40 years experience, who did the initial insurance value appraisal - a bit over $14000, he'd give me a check next week.
I am torn as to which option to take; and I promised them all to give an answer by the end of this month.
The auction houses look promising, but if the economy turns sour before they put all of my items up for auction, I assume the prices would suffer. But the jeweler's offer is much lower than what I could get if all goes will with the auction process.
There's certainly something to be said for getting paid quickly...
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