I’m not talking about sentimental value. That value is what keeps you from selling them. I mean the monetary value.
This is something that many people ignore, but that we should all know. After all, over the years, many pieces are piled up in the jewelers of each house: special occasions, gifts, legacies… We have them there, we look at them, we take care of them, but we cannot say their exact monetary value. Not even approximate. Sometimes we are not even aware of what we have.
Well, this is fixed with an official jewelry appraisal. A cataloged valuation of all your pieces, if possible with photographs, indicating their monetary value.
“Why do I want to do this if I don’t intend to sell them?” Well, for a lot of reasons:
- To make you insurance, in case the flies. Then come the troubles.
- In view of any inheritance or distribution of assets.
- So that, if you hand over your jewel for any type of modification, you can be sure that they will return your jewel.
- In case they steal it from you, and the police find them, to be able to recover them (somehow you have to prove that they are your jewels, your word without proof is not enough).
- Out of curiosity. Doesn’t it really intrigue you to know what you have there?
Where can I go to find out the value of the jewels?
There are different companies that are dedicated to appraising and valuing jewelry. Searching the internet for “jewelry appraisal” you will find many. For reasons of trust, the Jewelry Appraisers section of the Spanish Gemological Institute can be a good place to start.
When what you have to value are stones of great value, it is good to go to specialized gemologists, whose meticulous reports take into account the slightest inclusion in your stones, which are thus perfectly documented as your property.
But… what are the appraisal criteria for these jewels?
This part is a bit more complex, let’s see it. For starters, when you go to appraise your jewelry there are three “types” of value you can get.
- Liquidation Value. Refers to the value of raw materials, without further ado: the metal used, the gem… It does not take into account the manufacture.
- Greater Value. Also known as “manufacturing cost”. It includes the Liquidation Value, but adds the cost of production and even the markup of the part manufacturer.
- Replacement Value. This is the standard cost in a store, for the public, and also includes the retailer’s margin.
From here, the criteria that are followed depend, on the one hand, on the price of metals (set daily by SEMPSA – Spanish Society of Precious Metals), on gems (according to specialized publications) and labor (according to the official tables of the sectors involved in jewelry, such as AETA, the Association of Setters, or the Spanish Gemological Institute itself).
Then the weight of the gems (approximate when it comes to gems already set), their color and purity, the type of cut, or the certification, if applicable, are taken into account. It has, among many other aspects.
It is a complex world, and it also has a value especially for inheritance, property partitioning, or insurance purposes. The market value that a certain jewel can achieve is different, depending on its history or age, or its design.
Aren’t you curious to know what exactly do you keep in your jewelry box?