If you own a valuable piece of jewelry then you must be aware of its value. Most people who get jewelry from their grandparents or in the form of a gift aren’t aware of the actual price of their jewelry and when they go to the market to sell it, they get easily scammed.
But then there are those people who think that understanding the value of their jewelry is nothing less than a mystery since there are various factors that affect the overall price of the jewelry. Well, calculating the worth of your jewelry is not rocket science and you won’t have to spend an entire day, considering many factors to find the resale value or current market price.
With the advancement of technology, now we have a long list of methods through which you can easily calculate the overall value of your jewelry without any hassle. So, in this blog post, we are going to discuss some simple methods to calculate the real value of your jewelry and avoid getting scammed.
The most common method
If you want to follow the traditional method of calculating the value of your jewelry then you have to do the following things:
Check the hallmark
The first thing you should do is check the hallmark on your Miami gold jewelry. The hallmark will give you information about the type of metal that has been used in the piece and what is the actual quantity of the metal.
There are different types of hallmarks used on jewelry pieces and each one has its own set of information. Reading the hallmark is not difficult as everything is clearly mentioned in it.
Look at the prongs
The actual value of jewelry is also determined by how the pieces have been put together as it gives an idea about the construction. Looking at the prongs gives you an idea about the actual value of the jewelry.
If you have a piece of jewelry in which the stones have been glued together then you can be sure that the Miami gold jewelry is just fancy jewelry and you are not going to get even a single penny for it.
Weigh the piece
This is the most important thing that you need to do for knowing the value of your jewelry as without the weight, no one can tell you how much is your jewelry worth. This becomes more important if you have jewelry in the form of a chain or bangle.
Gold and silver are heavier metals, especially in comparison to pewter and brass. If you own a thick gold chain that feels light in comparison to a thinner gold chain then you can there are maximum chances that the jewelry is fake or hollow. Trying to sell such pieces of jewelry isn’t going to offer you any benefit.
Solid gold is always smooth and they remain heavy throughout the process. You can check your gold jewelry to ensure that the entire jewelry looks like this. Weighing the jewelry can give you a hint about its authenticity.
Check for damage
If you are sure that you have estate jewelry then you can check it for damage. Well, it might be true that this isn’t the only indication of the actual value of your jewelry but you should check for damage before getting your jewelry appraised.
The modern methods of calculating the value of the jewelry
The internet and digitization have made it easy to calculate the actual value of your jewelry and these calculators might not give you the exact price that you can get after selling the jewelry but they can give you an idea of how much your jewelry deserves.
You just have to search for ‘jewelry value calculator’ on the internet and you will get a long list website offering advanced jewelry value calculators. In those calculators, you have to simply enter the weight of your jewelry, its type, its shape (in the case of a diamond), size in karats, and other information.
After entering all this information, you just have to click on the calculate button and you will get a rough estimate of the actual value of your jewelry. And the best part about these calculators is, you don’t have to pay even a single penny for them.
Even when you visit the website of an online lender, you can easily see such calculators on their specific page. With time, the calculators are becoming accurate and soon, we will be able to get rid of the traditional method of calculating the value of jewelry and use only these advanced calculators.
The new method of calculating your jewelry’s worth might not be 100% accurate but if you want an estimate then you can use them.