Selling Your Inherited Jewelry Collection

26 April 2021
 Categories: Business, Blog

It is often the case that individuals may find themselves inheriting jewelry collections that they may not be able to use or keep. If you are finding yourself facing this type of challenging situation, you may not be sure of how you should go about selling these items for a fair price.

Consider The Benefits Of Selling The Jewelry At Auction

Individuals may assume that their only option for selling these jewelry pieces will be to take them to a jewelry shop or buying service. However, these options can provide individuals with relatively slow prices for the relative value of the jewelry items. A better solution may be to use an auction service to sell the collection. By showcasing these pieces of jewelry in an environment where buyers have to compete against each other, you may find that you can get a much better price for the pieces that are in your collection.

Always Have Your Antique Jewelry Assessed By A Professional

Before you can decide on a solution for selling your jewelry items, you will need to understand the value of these pieces. To help you effectively ascertain the value of these pieces, the collection should be thoroughly reviewed by a professional that has expertise in assessing antique jewelry pieces. Often, the value of the items in these collections can be surprising to the owner. For example, a piece of jewelry that looks fairly degraded may actually be extremely rare and valuable. Without the report from the appraisal service, you may be unaware of this when assessing the best options for selling it. These appraisals can be especially important when you are auctioning the jewelry items, as they will verify to buyers that what they are buying is authentic.

Understand The Payment Process For The Auction Service That You Choose

Every auction service will have its own process for paying individuals that have sold items through them. This is due to the need for these services to collect payment from the buyers so that it can be transferred to the seller. Typically, purchases that occur for a higher amount may have slightly longer to clear, as it can take longer for financial institutions to transfer extremely large sums. In most cases, you will receive your money in as little as a couple of weeks following the auction of the item. Before choosing an auction service, you may want to discuss this with them so that you can know what to expect when you sell your items through them.

Selling antique jewelry at an auction can be a great way to exchange your inherited jewelry for their real worth.