Among all other difficulties and challenges, the rare yet significant one is to evaluate the price of antique pieces. jewelry appraisal estimates a hefty amount if the prices are determined properly. But, there are instances that people often sell these antique pieces’ way less than it should be sold. Also, people lack knowledge about how to evaluate the actual price of these items. In this article, you’ll get to know about the things which you need to consider for evaluating a certain antique piece.
Estimating the value of a jewelry piece
To estimate the accurate value of a jewelry piece it needs your detailed knowledge and several years of experience combined. The value of jewelry is determined on the basis of various factors like the global economy, local jewelry market, commodity prices, the number of buyers available and the number of sellers available in the market. The changes in the situation are constant. The price of jewelry can be $1000 on a certain condition and can be 10x of it depending on a certain condition. The price fluctuation works on the basis of the above-mentioned facts.
So, how exactly are you going to determine the value of an item?
There are four standards like estate value retail, replacement price, intrinsic value, wholesale estate value, estate retail value. These standards should be taken into account if you want to determine the actual worth of an antique piece.
- Replacement value
Replacement value is based on the price that would cost if you replace the antique jewelry item with current jewelry in the market. If there is another item like the one you own, then replacement value is made on the basis of the price of the current item. Of course, the price won’t match but this standard should be taken into consideration.
- Intrinsic value
Intrinsic value is the simplest way to understand a jewelry price. The intrinsic value is the worth of raw materials that were used to make the item. The value is combined worth of gem value and metal value. Other factors like brand value, market value are not taken into consideration in intrinsic value. Have a look at how intrinsic value is calculated.
The cost of the gem in wholesale – the cost of re-polishing or re-cutting.
Using the above factors, the price doesn’t become much impressing after determining the intrinsic value. So, it might not be the best solution if you’ve something truly worthy.
- Retail value of used items
You can’t deny the fact that everyone wants to save their money. No matter how rich they’re still people will be drawn more towards the places where it’ll be cheap to buy a product. The same rule applies when you’re selling an antique piece. If your product value is a way to higher than the current market, then you’ll be a wild goose chase to search for a buyer.
- The wholesale value of used items
Determining the wholesale value of a used item is the best way to decide the value of the antique piece. The price will be lesser than the retail value but if the jewelry is in a resalable position then you’ll get a chance to win a hefty amount of money for this.
Judging the price on your own might be difficult if you don’t possess the necessary knowledge. So, don’t make yourself a fool in the market. Find out the actual value of your beloved item through old jewelry appraisal services. They’ve got a range of professionals to guide you along with this process.