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A Guide to Selling Unwanted Jewellery

October 26, 2023

Unearth the Hidden Treasures: A Guide to Selling Unwanted Jewellery

So, you’ve stumbled upon a box of jewellery or found yourself with pieces you no longer wear. The big question on your mind is, could any of this be worth a significant sum, and if so, where should you go to sell it?

Let’s walk you through some steps to help you.

Step 1: Magnet Test

Start by using a magnet to identify the precious metals. A strong magnet can help you weed out non-precious metal items. Place the magnet against the metal part of the jewellery. If it sticks, you’re likely dealing with steel or iron. While platinum alloyed with cobalt may show slight attraction, it won’t be strong enough for the magnet to pick it up.

Step 2: Check the Stamped Markings

For the jewellery that passed the magnet test, take a closer look with a magnifier (like a 10x power loupe) to find markings. Here are some common markings for precious metals:

  • 925 – Sterling silver (92.5% silver)
  • 14K, 585, or 583 – Gold alloy with at least 58.3% gold
  • 18K or 750 – Gold alloy with 75% gold
  • 10K, 416, or 417 – Gold alloy with at least 41.6% gold
  • 9K or 375 – Gold alloy with at least 37.6% gold (common in British Commonwealth countries)
  • 22K, 916, or 917 – Gold alloy with at least 91.6% gold
  • 950 – 95% platinum (some gold jewellery may be stamped 950 but have a gold colour)
  • Pt or Plat with a numerical number – a platinum alloy
  • Pd or PD with a numerical number – a palladium alloy

Step 3: Sort Your Jewellery

Organize your jewellery based on metal content and the type of gemstones it contains. This will make it easier for potential buyers and appraisers to determine the value. If you’re unsure, professionals can help for a fee, based on the time required.

Evaluating the Value

To determine the potential selling prices, consult with an appraiser or gem consultant familiar with the jewellery you want to sell. Keep in mind that most gems require testing for identification. In some cases, the metal value might outweigh the stone price, but for high-value gems, major lab reports from institutions like GIA are essential for selling.

While formal written appraisals aren’t necessary, they can be helpful. Additionally, consider having the consultant note basic information about each piece, along with high and low estimated selling prices. This knowledge is crucial before selling your jewellery.

Explore Your Selling Options

Holloway Diamonds might be interested in your jewellery if it meets their high standards. Check with any local auction houses to see if they’re keen on auctioning your items.

Consider Remodeling

Alternatively, if your jewellery holds sentimental value or features beautiful stones in outdated settings, think about having them remodelled into pieces you’d love to wear.

Remember, knowledge is power when it comes to selling jewellery. With the right information, you can make informed decisions and unlock the true worth of your precious pieces.

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