What’s my jewelry really worth?
(Should I sell it?)
(Where would I start?)
Want an expert on your side?
In my Broker’s Price Opinion, I recommend your jewelry’s selling price and what my commission will be. There is almost always more than one way to sell it, so I cover the options. The Broker’s Price Opinion is not an appraisal. It is a discussion about pricing, rendered orally, not in writing, and is based on your needs and expectations.
I know estate jewelry: what sells, in which market, and for how much money. How do I know? I’ve spent my life in the jewelry business. I was born into a family-owned store. When I opened my own business in 1977, I made estate jewelry my specialty.
In that time, I have sold millions of dollars of jewelry for more than one thousand owner-clients: trusts and estates, heirs, lawyers, banks, charitable foundations, and private owners. From dealing with so many estate jewelry buyers and sellers, I know what outcomes to expect regarding time and money.
No one can always offer everyone the best solution for selling every kind of jewelry. Starting from this perspective, I help everyone with jewelry to sell, whether I sell it for you or suggest how to market it on your own. To me, either way constitutes success. My goal is to enable you to take the next step that is right for you.
While the Broker’s Price Opinion is not an appraisal, it is an important valuation service. As a prospective broker, I am allowed to work as your advocate. Together, we strategize to achieve your goals based on your wishes and market realities.
The fee for the Broker’s Price Opinion is $75 per half-hour. If we agree to a consignment, I may waive some or all of this fee.
My broker’s price opinion includes:
- Your item’s likely selling price if I sell it through quick liquidation in the jewelry trade (usually one week or less) and my commission percentage.
- Your item’s likely selling price if I sell it to an ultimate consumer through long-term consignment (usually 6-12 months) and my commission percentage.
- Your item’s market position, based on its quality, style, and condition.
- How to price and present your item to its best advantage if you sell it independently, including cleaning and photographing it as time allows.
The next step: the consignment process
If we agree on your item’s selling price, how long I have to sell it, and my commission percentage, we complete my written consignment agreement, which includes these terms and your item’s description. Your item is fully insured while I have custody of it and in transit if shipped elsewhere.
I pay you as soon as it is sold to a trade buyer or right after the expiration of any short-term return privilege extended to a private buyer (no longer than 30 days). I
I divulge how much I have sold your jewelry for. If it is for less than our original agreement, I will always get your approval before any such sale happens. If it is for more, I pass along the additional amount to you based on our agreed-upon commission. In either case, I provide a new written consignment agreement for us to execute.
How my jewelry consignments work
Immediate sales (trade liquidation)
The “fast nickel” approach gives fast results but almost always less money than from ultimate consumers.
In most cases, you are paid in less than one week. Unusual items may take a little longer to find the best buyer.
Your items are shipped via insured overnight mail to the best out-of-state buyer for the particular piece. These are wholesale manufacturers and dealers, refiners of precious metals, and occasionally retail jewelers.
Commission schedule for trade sales
Under $1,000 = 40%
$1,001 to $5,000 = 30%
$5,001 to $10,000 = 25%
$10,001 to $50,000 = 20%
Over $50,000 = 15%
Both schedules are guidelines; I set commissions on a case-by-case basis.
Retail sales (long-term consignment)
The “slow dime” approach gives more money but almost always slower results than from trade buyers.
Consignment agreements are usually for six to twelve months. You are paid in no longer than 30 days from the date of the sale.
I sell estate jewelry mostly to my established customers and clients in the Oklahoma market. I have sold it all over the U.S. through my online Ruby Lane and eBay shops.
Commission schedule for retail sales
Under $1,000 = 50%
$1,001 to $2,500 = 40%
$2,501 to $5,000 = 35%
$5,001 to $10,000 = 30%
$10,001 to $50,000 = 25%
Over $50,000 = 20%
Questions I’m often asked
Why do you charge to look at my jewelry?
I put you in a better position to sell your jewelry even if I don’t become your broker. Knowledge is power. My fee covers the time it takes to analyze, price, and discuss your jewelry.
How long does consultation take?
It depends on the items. Simple, small items go quickly. Larger, more complex pieces take longer. Some items may require additional study time to estimate correctly.
What if we spend more than 30 minutes?
I pro-rate my fee for additional time in 10-minute increments. If you have more than one item, it’s a good idea to prioritize them before you come. You can set a time limit, whether we cover everything or not.
How do you price my jewelry?
There are two ways to do this. The first is to estimate the wholesale cost to a jeweler to reconstruct your item based on gemstones, precious metal content, and labor. The other is to find items similar to yours in the market and see how they’re priced and, if possible, how much they’re selling for.
Will you make an offer to buy my jewelry?
I do not buy outright. I only broker. You can always search online for businesses that buy jewelry. I give you years of experience that may result in more money, but I always encourage owners to explore all their options.
Is the Broker’s Price Opinion an appraisal?
No, it’s my immediate impression of how much money I can sell your jewelry for. An appraisal is an opinion of “value,” considering as many prices as possible. An appraiser is objective and cannot act as your advocate, but a broker can and should help you achieve the highest price for your item.
“Dealing with Scott could not have been a more satisfying experience. Not only am I confident that I obtained the best possible price for my diamond, I am completely assured of his honesty, integrity and exemplary professionalism...Scott has earned my trust and I recommend his services to anyone who has a diamond they are interested in selling.”
— paul paladino
