Jewellery - what to do?

Do you have a local auction house where you live. If you have jewellery that’s inherited it could be art deco or similar so worth more than just the weight in gold as it’s collectable.

The price of gold alters each day it’s worth your while checking this so you get the best price. If you could go to the jewellery quarter in Birmingham you will get a better price than you would in your local jewellers.

I’d visit a couple of jewellers that have second hand sections. They will give you a valuation, then you can go with the best one.
I’ve sold bits of broken and unwanted gold jewellery and bought a piece that I’d wear. Usually I’ve been pleasantly surprised by the amount.

Thank you.

I’d second the auction house route. If you have one locally, see if they have a site that shows what recent lots have sold for. It will give you an idea of what your pieces might sell for. Then you can enquire about their next valuation day.

Sady for most of us our jewellry has very little value above the price of its raw components, whatever its sentimental value.

By the way the people to avoid are those advertising in papers or putting leaflets through your door. Go to a reputable jeweller or an auction house and you will get the best value. This will always be well beow its selling price in a shop.

I agree try a specialist jewellery auction house. Some offer free valuations so you can decide if it’s worth it. Otherwise you could try a pawnbroker.

I’m in the same boat - a local jeweller offered me £700 for a gold chain, but was selling an identical one (second hand) for £2K! However, with auction house fees of 25-20% I’d need to get over £850 for it, but I suppose you’d be allowed to set a reserve figure. Jewellery has always been overpriced (in my view), as there’s an huge mark up and insurance valuations tend to be so ‘wild’ that they must encourage fraud in some cases.

I've recently had my jewellery valued (for unsurance) and was told that it is the settings that dictate the value.

My mother in law's beautiful engagement ring is, currently, worth quite a bit less than a simple diamond ring bought for our Ruby anniversary because it is considered old fashioned.

Purely from my own experience and having done both I would recommend an auction house for more valuable pieces, but place a reserve price on them , and a local jeweller ( preferably not one of a chain) for odd bits of gold, broken items etc. If you are unsure of the value you could get a valuation, prior to auction to help you decide on the reserve, although the auction house would probably advise. Lastly don’t rush into anything, and walk away from any situation where you feel pressured to sell.

Sold mine to cash cow and it paid for double bed and mattress for my spare room and bedside table. Silver didn't fetch much but my few items of gold did .

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I've sold various bits and pieces of jewellery and have been very happy with the payment. I also sold a ring recently at a specialist jewellers and it turned out to be Georgian and worth far more than I thought.

You will be surprised how much it adds up, my wife had some of her mums jewelry after her sister had taken what she wanted.
It was mostly damaged nothing special, but a couple of pieces she wanted remodeled so she took them to a friend in the Jewelry Quarter in Birmingham. The damaged items were taken to a dealer and she got £2000 back, I’m sure the friend got top price she was only expecting a few hundred.

If it's old jewellery I would go to a reputable auction house or a very good jeweller rather than a local jeweller who may not recognize it as a historic piece.