Designer Jewelry: How to Price Your Pieces for Resale

Are you in a fix and looking to make some extra cash? One of the easiest ways to achieve this is by selling your jewelry. But what’s the resale value of pre-owned jewelry? Assessing the true value of your cherished pieces can be tricky and requires more than a mere surface glance.

With the price of precious metals and ornaments constantly changing, it can be heart-wrenching to sell your piece for way less than it is. Here is an extensive guide to help you navigate the jewelry resale market. With these key steps, you can properly determine your designer jewelry resale value and choose the best marketplace and price for your valuables.

Take Stock of Your Jewelry

The designer jewelry resale value differs depending on your type of precious ornament. You can start by determining if you have any worthwhile jewelry. There are several details to look for to get a hint of your jewelry’s value.

Identifying Valuable Metals

Precious metals and gemstones may be in the form of a ring, bracelet, necklace or earring in your collection. They often have superficial markings that help identify their purity and the type of metal present:

• Gold pieces may have the word “karat” or the letter “K” present. This indicates the level of gold purity. 24K jewelry is 100% gold and is very soft and bright yellow. 18K has 75% gold while 10K ornaments have the minimum standard for gold in the U.S. at 41.7%. It is highly durable but less vibrant. The remaining percentage of the alloy comprises other metals that determine the jewelry’s strength and color. Adding copper produces rose gold that has a reddish color. Meanwhile, the presence of nickel or silver creates white gold.
• Silver jewelry may have the marking “.925” indicating it has 92.5%  pure silver. Interestingly sterling silver with gold plating is marked “Vermeil.”
• Platinum ornaments may have the word “plat” on them.
• A “HGP” or “GF” stamp indicates that your piece isn’t pure gold but is gold-plated.

Gemstone Identification

Some jewelry pieces have markings to specify the type of gemstone:

• “D” or “Dia:” diamond
• “E” or “Emer:” emerald
• “R” or “Ruby:” ruby
• “S” or “Sap:” sapphire

The engraving may be alongside the carat weight or in a separate location. Notably, renowned brands like Tiffany and Cartier have their stamp on their jewelry.

Test Your Jewelry

The surface markings aren’t always reliable and may be absent or fade with older pieces. Luckily, there are several tests you can perform at home to evaluate the jewelry.

The Magnet Test

Ordinarily, silver and gold aren’t magnetic. Plated jewelry has metal that you can identify using a magnet. Simulated gold and silver pieces comprise copper, brass and other base metals called pot metal. The magnetic test won’t work on them as they are non-magnetic. Notably, many chain clasps or earring posts are steel-based and will attract magnets. You’ll have to confirm if the entire piece is magnetic since the rest of the item may be gold.

The Skin Test

One of the best methods to spot fake ornaments is through the skin test. If your jewelry causes any skin irritation then it may not be genuine silver or gold.  Fake jewelry can also turn your skin green. Seemingly valuable pieces with a high copper content react with your skin’s natural acids and leave a green discoloration.

The Ceramic Test

This evaluation involves dragging the jewelry across the surface of an unglazed ceramic plate. An authentic piece of gold jewelry will leave a gold streak while plated jewelry leaves a black mark.

The Eye Test

In this test, you look for signs of tarnishing or green specs on your jewelry. The corrosion of brass or copper reveals a green hue.

Evaluate Current Resale Market Prices

To determine your designer jewelry resale value, you’ll have to distinguish it from the following:

 1. Jewelry Retail Value

If the jewelry came from a designer jewelry store, the final price tag is associated with the total expenses incurred to get it to that final stage:

• Mining tools
• Miners’ wages
• Overhead costs of maintaining the facility
• Cutting and shaping of each gemstone by different people
• Jewelry design
• Trade shows or auctions
• Colored gemstone and diamond dealers
• Distributors and shipping

Once a store acquires the jewelry it will have to pay for rent, salaries, advertising, merchandise, capital investment and utilities. The price is hiked between the mines and the market to cover the costs of all the processes.

 2. Jewelry Insurance Appraisal Value

An insurance appraisal is the highest monetary amount that can cover the cost of replacing your property with another one that meets the following similar conditions:

• Age
• Quality
• Brand
• Origin
• Appearance
• Provenance
• Condition

The replacement needs to happen within a reasonable period and in an appropriate, relevant market. Jewelry appraisers sometimes overvalue this amount. This allows insurance to set high premiums for pieces that may be worth a lot of money.

 3. Jewelry Resale Value

This is the price of your luxury pieces on the second-hand market. The markup for new luxury jewelry is about over 250%. Pre-owned jewelry is less valuable in the eyes of the buyer contributing to a resale value of about 20-50% of the original retail price. The final resale price will vary depending on the following factors:

• Brand: Luxury names retain their value better in the second-hand market.
• Market Value: Whether your jewelry is branded or not, its salability in the current market greatly impacts its resale value. Items that the buyer considers desirable will have a higher resale value.
• Condition: Taking care of your jewelry ensures it is in excellent shape for the second-hand market, positively impacting its resale price.
• Documentation: Pre-owned jewelry that has its original purchase documents and even packaging tends to command a better resale price. Collectors consider the designer piece’s papers and boxes valuable and may end up paying more.

Determine How to Sell Your Jewelry

By now you’ve assessed your jewelry and know its potential resale value. What’s left is to decide how to sell it.

Private Party

With this option, you utilize your local network of friends, family and social media contacts to find potential buyers. It costs little to nothing to list your jewelry on social media. You also leverage the popularity of your profile to get buyers that meet your valuation. For your safety, you can meet buyers in public spaces or use popular courier services to deliver the jewelry.

Online Jewelry Reseller like The RealReal

Instead of going through the hassle of selling jewelry by yourself, why not sell to a jewelry specialist buyer like The RealReal? With our expert appraisers and gemologists, we can get a premier deal for your pieces. Our reputation for honesty means you’ll receive ethical offers that optimize the return on your jewelry. Sign up today at the RealReal to get the real worth of your precious pieces.