To answer it, we have to first decide which type of worth or value we are talking about because jewelry has different values in different contexts. The main types of value are: intrinsic value, resale value, and appraised value.
The intrinsic value of jewelry is the simplest and easiest to understand. The equation for intrinsic value is:. The metal gold, silver, platinum, etc.
So, gold jewelry value, in this context, is largely determined by the current spot price of gold. Intrinsic value can be viewed as the recycle value of jewelry.
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Imagine the jewelry as a pile of metal and gemstones, not as a whole piece of jewelry. Some other names for intrinsic value are: cash value, cash wholesale value, and scrap value.
Assume a ring is made out of 5 grams of 14k gold and it has a 0. This would be the full spot price for the gold. The diamond price is more complicated.
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It is basically the common wholesale price modified by the cut grade of the gem. The wholesale price is a dynamic price that changes daily and is influenced by the source selected.
One of the most popular diamond price guides is Rapport. Once the initial price is determined, the last step is to adjust the price by the cut grade of the individual diamond.
Some used jewelry has a resale value that is higher than its intrinsic value. This price includes the intrinsic value plus the workmanship to create the jewelry.
Furthermore, if the jewelry is desirable in the market place, then a design premium is added. The equation for resale value is:.
Appraised value is the most confusing value partly because, on the surface, it seems to be the simplest. Most people are aware of jewelry appraised value.
But, the key to understanding appraised value is that this value is only theoretical.
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It is not stating what the jewelry is worth, but what it would cost to replace the item in new condition. Jewelry appraisals are the documents that deal with jewelry worth.
There are actually a few different kinds of appraisals, but when most people talk about jewelry appraisals they mean insurance appraisals check out our article about jewelry appraisal types.
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This is the heart of the problem of what jewelry is worth. The purpose of a jewelry insurance appraisal is to detail what it would cost to replace a jewelry item if it is lost, stolen, or damaged.
Because that is how much it would cost to replace the Toyota Camry with a new Toyota Camry. When this is done in the jewelry world, people come to a false understanding that their jewelry is worth what the appraisal value states.
Just like the Toyota Camry, the jewelry may be used and out of date. In many cases, the jewelry is only worth the intrinsic value.
Another big point of confusion with jewelry values is that the value of a used piece of jewelry can be dramatically different from what it cost new.
The cost of a new jewelry item includes the intrinsic value and like resale value above the cost of workmanship which could be 2 to 5 times the value of the gold and gems alone.
Even before the work begins, there is the value added by the jewelry designer. This can double the cost of the finished jewelry, or it can have a negligible impact.
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There are still more costs to consider with new jewelry. There is the cost of bringing it to market which can include: wholesale costs, import costs, marketing costs, transportation costs, and more.
Finally ask: is the jewelry store a high end retailer that can get a two or three times mark up over wholesale cost? Are the sales people receiving a high or low commission?
What are the overhead costs where the jewelry is being sold? What is the regulatory and taxation environment like? Here is an example breakdown of how some of these costs can look.
This is a bit exaggerated, but it is just meant to show how much the final price can vary.
With all of the possible variations, it is easy to see that the price paid has little correlation to the intrinsic value of an item of jewelry.
If it is a high end jewelry store with a lot of overhead and added value, then the jewelry price could be 5 to 10 times more than the intrinsic value.
If it is a discount jewelry store, then the price over intrinsic value could be from 1 to 3 times. So, how much is your jewelry worth? It is definitely worth its intrinsic value.
Every other price just depends on the situation. Feel free to come inand our gemologists will be happy to give you a free value appraisal of your jewelry.
Posted on: June 19, Category: Jewelry Information. Hi Cristian, thanks for commenting.
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As you know there are so many factors that could influence the price of a ring like diamond quality, is it one or several that add up to 1 carat, condition, design, etc.
If you can email us some pictures and any paperwork that you have for the ring, we should be able to give you a good ballpark value.
I have an 18K white gold pendant necklace willed to me by my late grandmother.
I would like to sell it somehow in order to share its value between my sisters and me by choosing new pieces that would honor her memory, but that more practical for our daily use.
The diamond is 1. It is IGI certified with good polish and very good symmetry. Measurements of the stone would be 5. I would be happy to help get you the most possible for the necklace.
Can you email us some good pictures of it and the IGI cert or if you are local to Sacramento bring it by the store anytime.
However this one is used but in great condition. It does have a few tiny scratches on the heart that can only be seen with a magnifying glass.
Could you give me a ballpark figure?
23.02.2020 – March 28, at pm. Thank you for all your help you made what could of been a difficult task to accomplish super easy with all your variety and great prices. I just tested this with 20 people and not a single person could pick out which was more expensive.
I could email a photo if you wanted. Thank you!
Hello Mary, that sounds like a lovely necklace. Pricing estate Tiffany and Co. Hello David, thanks for reaching out.
Feel free to contact us if you have additional questions. Does old costume jewelry have any value? And if so who will buy it in Paulding County Georgia.
I could send pictures of it if that would help.
Feel free to bring the set in to our shop some time and our gemologists can take a look at it for you. right hand ring designs with round diamond stone Their high quality images are catching up to James Allens’ and their prices are amazing.
Hi Mandy, good question. My best advice would be to search for similar pieces online especially on eBay to see if you can find a market for them.
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I have a diamond ring just over 1 carat set in a 14kt gold band and matching band with diamonds. What is a general estimate on resale value.
Hello Michelle, that sounds like a pretty ring. That said, a really quick rough estimate is it will resell between percent of the original purchase price.
Feel free to contact us if you would like to discuss it further. Thanks, Debbie. Hi Debbie, thanks for reaching out.
That sounds like a beautiful ring.
Unfortunately, without seeing it in person and knowing more details gram weight, carat weight and quality of stone, etc. Feel free to email us some pictures and details, and we can go from there.
I have a gold bracelet that is 18k Many thanks in advance. Hi Det, thanks for reaching out. But, we would have to see and test it in person to give you an accurate price that day.
I have a stud earring that says. Do you know the value please? Hello Sylvia, thanks for commenting. But, feel free to swing by the store anytime for an accurate value appraisal.
The diamonds I have been told are fine cut and are round classic no inclusions. Mikimoto Fresh water pearls.
Hi Dyanna, thanks for commenting, and sorry for the delayed response. Wow, that sounds like a lovely set of pearl earrings. I would have to see a picture of this one to give you a ballpark price.
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