Often, when people ask, “How much is my gold jewelry worth?” they wonder how much they can get from selling their inherited, antique, or fine pieces. However, in their quest to find this particular price, they are met with a range of values and left feeling more confused than ever.
At The Jewelers & Loan Co., we want to make it as easy as possible for people to understand how to sell their jewelry for top dollar. Today, we’re sharing insight into the different types of jewelry values, including appraisal prices, retail prices, pre-owned prices, wholesale prices, and intrinsic value, and why your final selling price may differ from these other values.
Why Is the Retail Price for Jewelry So Much Higher Than Wholesale Prices?
First, let’s take a moment to discuss why jewelers pay less for jewelry than their customers. Jewelry stores inflate their retail prices to cover common business expenses, such as rent, utilities, and wages. They may also raise the price depending on demand in the marketplace and the piece’s specific brand or markings. For these reasons, a piece of jewelry’s retail price is often much higher than the wholesale price.
Why Is My Resale Offer Lower Than the Jewelry’s Retail Price?
Now, let’s look at why your jewelry’s pre-owned price may be lower than its original retail price. The value of jewelry naturally depreciates over time. The ring, necklace, or bracelet often experiences a great deal of wear and tear, driving down its desirability. Additionally, fashion trends change, and styles become less popular as a result. In most instances, jewelry only retains its intrinsic value (or the value of its raw materials), so you will likely be quoted a resale price much lower than the piece’s retail value.
It’s important to note that some antique and vintage jewelry can be highly collectible. When this is the case, you may be able to receive an amount of money that far exceeds its intrinsic or retail value. You will want to work with a reputable jewelry buyer to ensure you receive a price that matches its worth.
Why Is My Resale Price Lower Than the Jewelry Appraisal?
If you had your jewelry appraised, you might be shocked to learn that you only get a fraction of that appraised value if you sell. Many people are confused by this difference in the pricing because they fail to understand that the appraised value is not an indication of the jewelry’s worth but of what it would cost to replace the item in new condition. In most cases, an insurance company wouldn’t even pay the full appraisal price if the jewelry is lost or stolen, so why would you expect to receive that same price when selling a piece of jewelry secondhand?
Find Out What Your Jewelry Is Worth at The Jewelers & Loan Co.
When you sell your gold jewelry for cash at The Jewelers & Loan Co., you don’t have to worry about being ripped off. We rely on the most up-to-date and reliable market comparisons to provide you with the highest price for your jewelry. If you’re interested in learning more about what your piece of jewelry is worth in terms of its intrinsic and resale values, come by our shop today! Our specialists will be happy to provide a free, no-obligation value appraisal.