When you take your jewelry to the jewelry store to sell, you can calculate beforehand what your item might be worth before you ever step into the shop. There are just a few simple things to consider. For example, is your used jewelry still a popular style? Will a jewelry buyer in Chicago be impressed? Was it produced by a brand name company? While a jewelry store that has been around for a while will be likely to treat you fairly, you can still find out what you’ll likely get from a piece of jewelry by considering jewelry’s style before you go in. If you’re selling your grandmother’s engagement ring, there’s a good chance it will be of greater interest to antique shops than jewelry shops.
In truth, a jeweler’s claim that they pay the highest price around for gold may be true. Moreover, you can check the price of precious metals and calculate how much the jeweler can pay. First of all, the cash value or scrap value is the price of the metal found in your jewelry. It’s often a substantial amount. It’s the price a precious metal recycles at. For example, the price of 10-carat gold can be quite a lot if it weighs an ounce. An ounce of gold priced at $850 dollars the other day. A gram of gold in this example has a recycling value of approximately $27. That quote is what is called the recycling quote. Your grandmother’s engagement ring may get a recycling quote for the diamond while the rest of the ring can bring in what the market will bear.
After the recycle price is determined, the jewelry is appraised for its workmanship and style, and this can add substantially to the price of a piece of jewelry. If it comes from a famous name in jewelry, the workmanship and style will both be big selling points, so the price should increase above the recycle price. To a jewelry buyer Chicago can trust, average workmanship and style probably won’t have much of exchange value, and you will simply get the recycling value. On the other hand, if you bring in a Tiffany, it will give any jeweler pause. Whatever brand or piece, consider these factors before you sell your jewelry. If you want a fair appraisal of your jewelry, try Chicago Gold Gallery or visit their Website.
