However, the vast majority of fine jewelry will receive an offer ranging from 20% to 50% of their original price. Jewelry brokers offer professional service in exchange for a fee, including IRA transfers. Think of a jewelry broker as a hired professional who works for you in a very sophisticated market such as the jewelry industry. Make sure that they are loyal only to you.
If you are looking for a reliable way to invest your money, consider opening a Best Gold IRA Account. Most jewelry brokers are highly trained in gems and jewelry. Jewelry brokers charge a percentage ranging from 10% to 50%, depending on the type of service provided. Brokers can help get a piece to one of the major auction houses or find a local dealer willing to pay a lot of money quickly. Some jewelry brokers also act as distributors and buy directly to make an immediate transaction.
Jewelry brokers are usually found in major cities and include a search service for jewelry and diamonds. The value of an insurance valuation does not apply at all to the value your jewelry would be worth in the resale market. I live in Las Vegas and my husband gave me a bracelet and a ring thirty-five years ago, which he bought as real estate jewelry in the real estate section of a major department store in Los Angeles. To determine the resale value, you need a specific resale valuation, which will be an estimate of what a buyer will pay for your used part in the wholesale market.
Right now, pure platinum is priced lower than pure gold, but keep in mind that most platinum jewelry contains a higher percentage of pure platinum (usually 90 to 95%) than the percentage of pure gold in 14-karat gold jewelry. I have a large Australian opal of about 20 carats and it is wrapped in 18-carat gold wire (handmade jewelry). In most cases, the stones will be reassembled into new frames for earrings, or possibly placed on other jewelry, or even sold loose. I saw an advertisement in my local newspaper about real estate jewelry buyers coming to a department store in my area.
When jewelry is resold, it is generally sold as used jewelry in the wholesale market, not as new jewelry in the retail market. In fact, it's often an exaggeration of what an insurance company would pay to settle in cash in the event of a loss. If your piece contains diamonds or precious stones, make sure you find a gemologist who buys jewelry and who can evaluate them accurately and not just by the weight of the gold.