26 Mar Chasing After Your Trade-In Value: How Much Is Your Jewelry Really Worth?
Contrary to popular opinion, not everyone is necessarily looking to sell their beloved jewelry items for cash. Rather, others are looking to trade their jewelry in an effort to find their newest favorite piece before they even leave the shop.
And that’s exactly what a trade-in is: an alternative to selling where you can instead receive another item from within the store of equal value.
The only question, then, is how to find out how much your jewelry is actually worth.
When You’re Investigating Values
Believe it or not, there are two different values that may come into play when determining how much your jewelry is worth for a trade-in: intrinsic value and market value.
“‘Intrinsic value’ is a term used by investors to denote the fundamental value of an asset or investment, as determined through different analyses depending on the type of asset in question,” as explained by Forbes.
In other words, a jewelry’s intrinsic value is its baseline value, largely based on the combined value of its metal and gems. As it is “fundamental,” this number is not likely to change over time.
Market value, however, is a much more flexible measurement. This is because the whims of the jewelry market — be it with regard to silver, gold, or other such precious items — can change on a daily basis.
And as the market value of the jewelry’s individual components fluctuates over time, so too will the total value of the overall jewelry item.
It’s All About The Appraisal
So you know what different types of values may come into play come time to approach the jeweler’s counter, but do you know how much your jewelry is valued for, specifically?
The short answer: You probably don’t. But that’s why jewelry appraisals are an integral part of preparing to trade-in your collection! Without undergoing a certified appraisal process, it can be difficult to determine whether or not you’re being provided with an accurate reflection of your jewelry’s true value.
Specifically, an appraisal will provide you with your jewelry’s current market value. When searching for an appraiser, however, be sure to specifically look for local professionals who are certified by or associated with one or more of the following:
- The National Association of Jewelry Appraisers
- The International Society of Appraisers
- The American Society of Appraisers
- The Gemological Institute of America (GIA)
Trading With Local Trust
Come time to trade-in your prized collection, you don’t want to trust just any jeweler that opens their door to you. Instead, you’ll want to trust your locally-owned and operated jeweler who knows your community.
More specifically, you’ll want to visit Hemming Jewelers, Jacksonville’s #1 independent jeweler!
Not only do we have our own professional on-site appraiser who is a longstanding member of the National Association of Jewelry Appraisers as well as a diploma recipient from GIA, but with our team, you have more options than simply trading in.
If you’re looking to sell your jewelry for cash, we can help with our gold buying services.
Are you ready to learn more or get started with your appraisal today? Then contact us by calling (904) 354-5959! We look forward to providing you with certified services.