Choosing Business Goals

Estate Jewelry Appraisals And Sales

12 October 2021 by Wade Wheeler

Jewelry that is part of an estate is usually passed down to surviving heirs. Upon inheriting estate jewelry, a new owner may decide to have the pieces appraised. With insight into how much each piece is worth, decisions can be made whether to keep the pieces or seek jewelry buyers.

Estate Jewelry

The title 'estate jewelry' may give someone the impression that the jewelry pieces that are part of a collection are old and valuable. Although many fine pieces of jewelry can be obtained through an estate inheritance, this is not always the case. Each collection of jewelry that a former owner amassed should be cleaned, categorized, and appraised.

A jewelry appraiser can provide estimates that will educate a new owner about the age of a particular piece, the current market value of the jewelry, and the types of materials that were used to construct distinct pieces. An appraiser will let an heir know whether or not their collection will be likely to bring in more money by selling pieces independently or in groups.

Sales Tactics

If other personal possessions that a recently deceased person owned will be sold at a public auction or estate sale, jewelry can be sold during the same event. An estate sale may involve selling items at set prices. The heir/heirs who will be orchestrating an estate sale can come up with the prices that they would like to sell items for. With the aid of appraisal amounts, preparing prices that coincide with the value of jewelry pieces will be possible.

An auction that is being held at an auction house will allow a rigid or flexible pricing schedule. The person who is selling estate jewelry can set a reserve price. A reserve price is a predetermined price that a seller is willing to accept for an item that is being auctioned off. If nobody agrees to pay the minimum amount, the jewelry will not be exchanged with an interested buyer.

Before items are going to be sold through an auction, the owner of the estate jewelry will need to meet with an auctioneer. All of the items that will be sold should be cleaned and categorized. Upon providing reserve prices for the items, the auctioneer will decide in what order the jewelry items will be presented to the attendees of the auction. If no reserve price will be set, each piece of estate jewelry will be sold to the highest bidder. 

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