QuestionMr Foard,
A few years ago i inherited a small lot of jewelry from a relative that has passed on, that i decided to tuck away in a box in case of emergencies since none of it was significant in the heirloom sort of way. Well, it just so happens it is that time i hoped would never come, and i need to sell them quickly. Most of it is not worth too much but there is a ring in there that I found retailed around $1300, its 14k white gold with 3 diamonds set in it. I am not really the sharpest talker when it comes to negotiations and am clueless to the resale value of something like this ring. I don't want someone to see my lack of expertise in the value of what I'm selling and get taken advantage of. I am curious to what you'd think something like this could resale for without actually seeing it and assuming it was in good shape, and the best places you would think would pay top dollar for something like this. Thank you for your time and expertise.
Sincerely, Daniel
AnswerG'day Daniel and many thanks for your query
The question of price is always a sticky point because while the trade advocate a 'Recommended Retail Price' or the Insurance Industry talks about 'Insurance Replacement' neither of them are in fact - 'REAL'.
You see the cold hard facts are that there is no such thing as a fixed price for anything in life - including jewelry.
It is ALWAYS what a WILLING BUYER is prepared to pay to a WILLING SELLER. All the rest are simply - 'Guides'.
On the open second hand market an item may sell for as low as 10% of the 'Appraisal Valuation' or $130 bucks if you wanlked into a pawn broker on the Las Vegas Strip and are desperate - to a more 'average price' of say 25% to 40% on places like eBay or your local second-hand store.
You might get more if it were special or Antique - or owned by Paris Hilton - but generally the most you could expect would be 60% or even up as high as 70% from someone who
R E A L L Y wants it.
Remember a 'Valuation Appraisal' is only for INSURANCE.
Stores sell items for up to 50% off - OFF WHAT?
Try eBay for something similar. You have time on your side which means you are NOT desperate to sell.
This is called a 'FORCED SALE'
Look around until you find your willing buyer.
Ebay is always worth looking at - as is the Antique Jewelry Fair at: http://www.antique-jewelry-fair.com/
Hope this helps....
One last thing - don't discard the other items in the box. Very often we find it is the things you least expect that are worth the most. Get someone to look them all over and do this more than once. PLUS NEVER SELL TO THEM...
