where to sell jewellery

[GingerWizard]

Where would you sell some jewellery that is worth about 4k+ ?

I have inherited a couple of items due to the passing of a relative. I approched a local independant jewlers and they said replace value would be 1.5 k and 4.5 k (two rings) and gave me the third degree about how i acquired them. ( this made me feel quite uncomfotable tbh) so whats the best way to sell them? Do jewelers just buy off punters, do i need a proper valuation (i was quoted loosly 125 notes to have this done) What sort of documentation would i need to provide?. Its quite a painful thing and i would like the minimum of fuss. Has anyone had any expirence in this?

Ta

Gwiz

[randlemarcus]

Jewellers are worse than car dealers for the percentage margin on second-hand items (apologies to any PH jewellers who need to make a living).

Get them to do an insurance appraisal, to give buyers confidence, and sell privately. Might as well use Ebay to publicise it.

[Cheib]

randlemarcus said:

Jewellers are worse than car dealers for the percentage margin on second-hand items (apologies to any PH jewellers who need to make a living).

Percentage mark up on new items is gob smacking too!

[condor]

Take it to an auction house with a reserve on it?
The amount of daytime TV shows seem to imply it's easy

[DonkeyApple]

Cheib said:

Percentage mark up on new items is gob smacking too!

So are the costs of security of shop and also the home and your insurance.

Added to that, you can't just rent or use just any retail property.

Setting up a jewellers properly and running it safely is hugely expensive.

Mark ups are large but margins are still small.

To the OP, your key lies in whether the jeweller is viewing your items as scrap or for resale.

The key if you don't want scrap values is to look for a jewellers that specialises in 'antique' pieces rather than your normal shop that focusses on selling new.

Alternatively, you have the specialist auction market.

I would also hazard that the value you have, if it was say from probate may well be the insurance value. This could be more than a multiple of technical sale value.

[GingerWizard]

Donkeyapple, thankyou for your response, you seemingly know about these things so can you answer me this, what documentation do i need to provide. The estate is being settled as we speak and my father is sorting out the probabte situation with regards to the bonds + shares and sale of house. These items where given to me as it was the wish of the relative but it was a verbal agreement (that the whole family is fully aware of) As such they are not noted in the will. After the third degree that i was given at the last place about my acquistion of these two items I would like to avoid the same thing again.

many thanks

Gwiz

[DonkeyApple]

GingerWizard said:

Donkeyapple, thankyou for your response, you seemingly know about these things so can you answer me this, what documentation do i need to provide. The estate is being settled as we speak and my father is sorting out the probabte situation with regards to the bonds + shares and sale of house. These items where given to me as it was the wish of the relative but it was a verbal agreement (that the whole family is fully aware of) As such they are not noted in the will. After the third degree that i was given at the last place about my acquistion of these two items I would like to avoid the same thing again.

many thanks

Gwiz

A jeweller would like to see documentation regarding proof of ownership ideally so as they are comfortable they are not buying stolen goods.

Usually the probate valuation is perfect. I'd imagine that an insurance valuation is also fine as it shows legitimacy if someone is putting them as items on their household insurance.

I wouldnt feel wierd if a jeweller asks you about this. Lots of people approach them to sell items which are not theirs to sell.

The hard thing though is the value. To get anything much above scrap they do need to be easily saleable for the jeweller. This is why you need to try and find one that clearly trades in jewellery similar to yours.

As you can imagine, a branded watch or a nice plain engagement ring is at the easier end to sell but things like broaches tend to be much harder and priced accordingly. If there is not clear craftsmen ship then sadly it may have more value as scrap to be turned into something more saleable and shiny and new.

The problem is that if they are not items that you see you or your wife using or holding on to for your children then the chances are that a jeweller wouldn't like the risk of trying to sell them on and would deal a scrap.