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When you open your jewellery box, do you wonder how much it’s all worth? By the value of your jewellery I mean the price you could sell it for now, rather than the price you actually bought it for.
Trying to get that number is no simple task, simply because there are a number of factors that you have to take into account. You have to remember though that when you bought that lovely piece of silver jewellery, you payed the price that the shop was selling it for, which is not the price it’s worth.
When you buy jewellery from a store, you have to pay the price that the manufacturer charged the store, plus a mark up fee that the store puts on to make a profit. This figure is very difficult to come across, but what is even harder is trying to get the figure that the manufacturer puts on the item. The manufacturer of the piece will put on their own mark up so that they make a profit on the materials and man power it took to make the piece.
Because of all those factors, you never actually pay the true value of the jewellery, so what is your jewellery really worth? The main factor to look at when trying to value your jewellery is the value of the actual materials that are used to make it. Say you have some silver gemstone jewellery or silver pendants. You can weigh the materials and once you have the weights, you can find the scrap value for these metals which will allow you to figure out the raw materials value. You should also look at other materials that are on the piece, jewels are a big one, a local jeweller will be able to value these for you.
The price of the raw materials will often come as a shock to you, this is because the value of the raw materials will only be around 10% of the actual price you payed for it. However, there are a range of other factors that will have an effect on the value.
When selling jewellery, sentimental value also comes into account, a piece of jewellery that means something to you will be worth more than something that you don’t care much about. Another one would be whether the jewellery was made by a popular or famous name, this will add even more value to the piece. This value is hard to work out because the way the manufacturer become popular varies, it could be the quality of work, or if a celebrity has been seen wearing it.
Overall, unless than manufacturer has gained reputation which increases the jewellery value, your jewellery will be worth less than the retail price that you original payed. Unfortunately that the way the manufacturer and the jewellery store makes their money.
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