When you inherit jewellery from a family member or someone you know, you may not be aware of the history or value of the piece unless the person who gave t to you told you about it. Many people inherit jewellery items that have been left to them and have no idea of their worth, and their jewellery may be worth a little or a lot, depending on its quality.
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If you have recently been left some jewellery and you are not sure how much it’s currently worth or what to do with it, below are some ways you can find out its value. Finding out how much your jewellery would cost may help you decide what to do with it.
Take It To A Shop That Buys Jewellery
Even if you do not want to sell your jewellery, you can take it to a shop that specialises in buying jewellery and see what they will offer you for your items. You can find them online and you can schedule an appointment to visit their premises and let them assess your jewellery.
The valuation of your jewellery will be based on the scrap value of the precious metals and gemstones that the jewellery contains. If the piece was bought from a jewellery store that sells the best quality pink diamonds in Australia as well as in other countries, it would be easier to trace.
If the jeweller is older, there may be times your jewellery would be not be as valuable as you think; older gems could be of a lower quality than ones used in modern jewellery. However, at least you will have an idea of your jewellery’s value, and if you want some quick money, you can sell it to them or you can try and sell it privately and see if you can get more for your inheritance.
Getting It Appraised For Insurance Purposes
If you have no intention of selling the jewellery, you may want to get it appraised for insurance purposes if anything happens to it. The appraisal will often be higher than if you took the items to a shop that buys gold and gemstones, as the value they give would be for replacing the jewellery.
Once they have appraised your jewellery, you will have more of an idea of its value, although that does not mean you will be able to sell it for the amount they have appraised it and is purely for insurance purposes. If you are going to add this to your household insurance, you will need to give the appraisal to them to provide you with a quote for insurance, and the assessment will need to come from a company certified to do appraisals.
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Keep It Or Sell It?
When you have an idea of the worth of the jewellery you have inherited, you will eventually need to decide what to do with it. If you are going to wear the jewellery and it is a style and taste that you like, you may want to keep it. However, if it is not something you would ever wear, you may as well sell it and put the money towards something you like. You can pay off some bills, put it towards a holiday, or use the money you get to do some repairs around your home.