If you’re looking for a good deal on estate sale items, blog after blog will tell you jewelry is one of the best hidden treasures out there. If you’re thinking of having an estate sale, we cannot stress enough the importance of having your jewelry appraised, especially if you aren’t working with a company to handle the sale on your behalf.
Why Spend the Money?
You may wonder why you’d want to spend money on an appraisal. Isn’t it just a glorified opinion? Not at all! While it’s true that an appraisal is an estimate of an item’s value, that value is determined by an expert who uses tried-and-true—and traceable—methods to come up with the cost.
An appraiser’s opinion factors in not only the fair market value of the item (i.e. what a willing buyer and seller would spend and accept, respectively) but also their professional knowledge of what’s in style and what materials are currently fetching a good price in the market. A good appraiser won’t overvalue your jewelry to keep you happy. They will give you realistic expectations of what your piece is worth, and will guide you in determining a fair selling price.
Haven’t I Done This Before?
Many folks think they know the estate price of their jewelry based on an insurance appraisal. It’s important for you to remember that insurance and estate appraisals can be very different. Insurance appraisals factor in the replacement value of your jewelry, meaning they consider how much it would cost for you to go out and buy that piece of jewelry brand new in the event of loss or damage.
Estate appraisals, on the other hand, don’t consider the piece brand new, and won’t factor in the replacement value. Since both the insurance and estate values should be based on the fair market value, you may not see much of a difference. However, since the condition of your jewelry and market price of the materials can influence its worth, it’s better to be safe and have a professional look it over.
We at Heritage Estate Sales know how important the appraisal process is in making sure your jewelry is priced fairly. That’s why our services include free verbal appraisals and estate consultations. Give us a call today to find out more about our appraisal process, or to see if Heritage is the right estate sale company for you.