How to sell 1920s Tiffany ring set?

[skystrick]

Hi all,

I inherited a matching Tiffany wedding and engagement ring set from the 1920s. Both consist of diamonds and emeralds; please see photos below. They were appraised in January 2013 at $35,250 for the wedding ring and $2,500 for the engagement ring, by a GIA jewelry appraisal serivce.

I want to sell these rings. What's the best way for me to do this? I live in North Carolina, so I don't have a Sotheby's or Christie's office nearby, and I can't imagine people pay $35k on eBay for something where they could be so easily ripped off. But at the same time, I don't want to sell to a "we buy used jewelry!" place for 50%-or-less of the value.

Please advise an ignoramus?

Thanks!









P.S - Here is some info from the appraisal of the wedding ring (verbatim):
"Platinum emerald and diamong ring. Containing set in the center, bar set quare cut emerald flanked on each side by nine bead set round single cut diamonds, prong set old mine cut diamond the between a "v" shape, set with twelve bead set round single cut diamonds. Set on each of the sides a total of forty-eight bead set single cu diamonds. Stamped: Tiffany. Circa 1920s.
Square Cut Emerald
Approx. Measurement 7.50 x 6.80 x 4.50 mm
Approx. Weight 1.60 ct.
Color: Medium green
Brilliance: Good
Color Intensity: Good
Two Old European Cut Diamonds
Approx. Measurement 6.20-6.20 x 4.00 mm and 6.20-6.20 x 3.90 mm
Approx. Total Weight 1.90 ct. tw
Clarity: VS-1/VS-2, Color: H range
Ninety Round Single Cut Diamonds
Approx. Diameter 1.40 to 1.60 mm
Approx. Total Weight 1.50 ct. tw.
Clarity: VS-1/VS-2, Color: 5.1 grams
Ring Weight: 5.1 grams
Graded insofar as mounting permits"

 

[distracts]

Do you have any of the original paperwork? I thiiink you can still have if verified by Tiffany if you inherited it, but I have no idea how that works. That could definitely make a difference to how much you get. If you are trying to consign it, I would assume the vendor may know more about that.

I would start looking around at high-end independent jewelers near you that may do consignments. You can also consign with companies that sell online like jewelsbygrace.com. Some other people may have other suggestions, but that's one I know people here have used.

 

[skystrick]

Do you have any of the original paperwork?

No, I just have the appraisal. The paperwork wasn't found among my mother's estate (or if it was, it was thrown out). This would have been purchased back in 1987, so there's not a lot of old paperwork still hanging around.

 

[kenny]

Appraised value probably means what Tiffany would sell it for today.
You are not Tiffany.
Don't expect anything near $32K.
Maybe half or a bit above.

Gems/jewelry is not a commodity like gold or silver with one universally-agreed-to price regardless of who's selling and where.
The 'value' is not the price you are entitled to as a private party selling a used ring.
You could buy something at Cartier today in Manhattan, fly to Detroit and walk into a pawn shop.
Do you expect they give you anything near what you paid at Cartier?
Of course not.

IMO appraisals are bogus.
I even get an 'appraisal' from the vendor with new diamonds stating it's worth 20 to 40% OVER what I just paid for it.
GMAB!

If you really want support for the value of the emerald and those two larger diamonds have them removed from the setting.
Send the emerald to AGL in NY.
Send the diamonds to GIA in NY or CA.
Note, these labs do not offer a valuation, just the best opinion on the earth of what the gems actually are, in the form of a grading report.

I'd list it on
www.loupetroop.com
www.idonowidont.com
www.diamondbistro.com

Good luck.

 

[JulieN]

Just wanted to say it is beautiful.

 

[denverappraiser]

Appraised value probably means what Tiffany would sell it for today.
You are not Tiffany.
Don't expect anything near $32K.
Maybe half or a bit above.

Gems/jewelry is not a commodity like gold or silver with one universally-agreed-to price regardless of who's selling and where.
The 'value' is not the price you are entitled to as a private party selling a used ring.
You could buy something at Cartier today in Manhattan, fly to Detroit and walk into a pawn shop.
Do you expect they give you anything near what you paid at Cartier?
Of course not.

IMO appraisals are bogus.
I even get an 'appraisal' from the vendor with new diamonds stating it's worth 20 to 40% OVER what I just paid for it.
GMAB!

If you really want support for the value of the emerald and those two larger diamonds have them removed from the setting.
Send the emerald to AGL in NY.
Send the diamonds to GIA in NY or CA.
Note, these labs do not offer a valuation, just the best opinion on the earth of what the gems actually are, in the form of a grading report.

I'd list it on
www.loupetroop.com
www.idonowidont.com
www.diamondbistro.com

Good luck.

I rather specifically disagree with the last part of this. Exactly what you need is an appraisal. You're looking for sound professional advice based on completely unsupported information and it's entirely possible that your $32k expectation is seriously out of line. Your source for that number is not good. It's certainly possible that you'll want to do lab work on the stones but I sort of doubt it. It's definitely not the first step. It's also conceivable that you're going to want to consign them to a dealer who does well with this sort of thing. It's a specialty niche and the skilled sellers do quite a bit better both in terms of speed and realized prices than the amateurs. If the best way to promote it is to have lab work on the stones, let THEM deal with the lab. Don't worry about it if there's not a dealer in your town. Again, this is a specialty sort of item and be prepared to ship it. Your appraiser can explain the process but the USPS registered mail service is very secure.

 

[baby monster]

As Denver Appraiser noted, you may need to ship to an appraiser or antiques dealer to get the best return. You can either consign or sell. There are recommended PS antique vendors like Lang Antiques.

 

[MarionC]

I use a Pricescope appraiser, Kim Piracci, in Chapel Hill who got me in touch with a reputable auction house. Their gemologist comes to a hotel in the area to look at things for their catalog. Your items would do very well, I would think.

Kim Piracci 1709 Legion Road, Suite 113, Chapel Hill, NC, US; 919-260-3686

Also, just thought of this. I mailed a ring to David Atlas for an appraisal recently. You don't worry about using the post office for sending out your rings, and David is well-known here.

 

[Travelgal]

Wow. What an amazing ring. Stunning. Have you contacted Lang Antiques (langantiques.com), Trumpet and Horn (trumpetandhorn.com), Erstwhile Jewelry (Erstwhilejewelry.com), or Shreve Crump and Low (http://www.shrevecrumpandlow.com)? All are high end antiques retailers. I am not sure how much they would offer you on price, but you could at least have a frame of reference if you decide to list it yourself.

 

[RandG]

These are special pieces, particularly the engagement ring. As Tiffany signed pieces, their value is more significant than your typical estate jewelry. If it were me, I would source a vendor who specializes in premium signed jewelry. Many of the top dealers who buy these types of pieces will send you a pre-paid fed-ex or UPS label, and offer to return ship the items should you not reach concurrence on a price. Just work that out in advance of shipping your items. Circa, Beladora, Fred Leighton, and Fabrikant (Fabon5th) are just a few high end dealers I would stick to for something this special. As for valuation, I would keep any numbers you've collected to yourself and allow your prospective buyers to make an offer. Avoid questions like, "what are you hoping to get for it" by telling dealers you want a fair market offer on the piece or you're happy to sit on it until you do. Keep all offers under your hat. The market will tell you what its worth. If you're not liking the numbers, then I would chase a cert. I prefer GIA for something like this. Don't waste money on an appraisal unless its for your own insurance related purposes. Savvy buyers will ignore 99.9% of the appraisals out there as worthless.

Over the last 10 years Tiffany has made an effort to re-acquire their own vintage pieces. You may want to contact the NYC store and ask for someone in the archive department to see if they have interest. A Tiffany emerald from that period may be of value to them.

Finally, if you can't sell to a wholesale enterprise, take another look at ebay. Right now, the international market for signed jewelry is at an all time high and buyers from places like Asia love ebay. I would take advantage of casting a wide net. Just make sure you list well, with great pictures and description. Having the pieces serviced by Tiffany in advance, with a receipt in hand, will effectively authenticate your items and make them more valuable to a buyer.

Good luck!

 

[HeartingDiamonds]

I agree with Neil above - in cases like these, an appraisal is even more important.

I would also contact T&Co in NYC directly. If you send them the ring, they can actually go back to their archives and date and authenticate the ring (I used this service last year, and the cost was $450+) for you. Trust me, whatever you pay for this paperwork is worth every dime.

Signed pieces like yours command a premium beyond the the sum of its individual components (value of the diamonds, the emerald, metal, etc) so that is another critical factor.

May I add - I think the ring is simply STUNNING.

Good luck!

 

[denverappraiser]

These are special pieces, particularly the engagement ring. As Tiffany signed pieces, their value is more significant than your typical estate jewelry. If it were me, I would source a vendor who specializes in premium signed jewelry. Many of the top dealers who buy these types of pieces will send you a pre-paid fed-ex or UPS label, and offer to return ship the items should you not reach concurrence on a price. Just work that out in advance of shipping your items. Circa, Beladora, Fred Leighton, and Fabrikant (Fabon5th) are just a few high end dealers I would stick to for something this special. As for valuation, I would keep any numbers you've collected to yourself and allow your prospective buyers to make an offer. Avoid questions like, "what are you hoping to get for it" by telling dealers you want a fair market offer on the piece or you're happy to sit on it until you do. Keep all offers under your hat. The market will tell you what its worth. If you're not liking the numbers, then I would chase a cert. I prefer GIA for something like this. Don't waste money on an appraisal unless its for your own insurance related purposes. Savvy buyers will ignore 99.9% of the appraisals out there as worthless.

Over the last 10 years Tiffany has made an effort to re-acquire their own vintage pieces. You may want to contact the NYC store and ask for someone in the archive department to see if they have interest. A Tiffany emerald from that period may be of value to them.

Finally, if you can't sell to a wholesale enterprise, take another look at ebay. Right now, the international market for signed jewelry is at an all time high and buyers from places like Asia love ebay. I would take advantage of casting a wide net. Just make sure you list well, with great pictures and description. Having the pieces serviced by Tiffany in advance, with a receipt in hand, will effectively authenticate your items and make them more valuable to a buyer.

Good luck!

Rand. The point of professional advice is NOT to get a document that can then be used as a sales tool. That's the problem with the 'appraisal' he has now. I agree that, for professional buyers, a seller supplied valuation document is mostly useless although it might contain some useful grading details. That's fine, ignore what you want, but you aren't the client. It's not for your benefit and, in most cases, there's no merit to even showing you the report. For a seller wishing to empower themselves with accurate and useful information from an unconflicted source that's working for THEM, rather than trying to buy from them, It can be EXTREMELY useful. Most sellers are at a serious competitive disadvantage and a competent appraisal levels the information playing field. Not to pick on the concept of Internet forums here, but advice from anonymous strangers working from a single photo is NOT the same thing. Bids (or not) from potential buyers is not the same thing.

 

[RandG]

These are special pieces, particularly the engagement ring. As Tiffany signed pieces, their value is more significant than your typical estate jewelry. If it were me, I would source a vendor who specializes in premium signed jewelry. Many of the top dealers who buy these types of pieces will send you a pre-paid fed-ex or UPS label, and offer to return ship the items should you not reach concurrence on a price. Just work that out in advance of shipping your items. Circa, Beladora, Fred Leighton, and Fabrikant (Fabon5th) are just a few high end dealers I would stick to for something this special. As for valuation, I would keep any numbers you've collected to yourself and allow your prospective buyers to make an offer. Avoid questions like, "what are you hoping to get for it" by telling dealers you want a fair market offer on the piece or you're happy to sit on it until you do. Keep all offers under your hat. The market will tell you what its worth. If you're not liking the numbers, then I would chase a cert. I prefer GIA for something like this. Don't waste money on an appraisal unless its for your own insurance related purposes. Savvy buyers will ignore 99.9% of the appraisals out there as worthless.

Over the last 10 years Tiffany has made an effort to re-acquire their own vintage pieces. You may want to contact the NYC store and ask for someone in the archive department to see if they have interest. A Tiffany emerald from that period may be of value to them.

Finally, if you can't sell to a wholesale enterprise, take another look at ebay. Right now, the international market for signed jewelry is at an all time high and buyers from places like Asia love ebay. I would take advantage of casting a wide net. Just make sure you list well, with great pictures and description. Having the pieces serviced by Tiffany in advance, with a receipt in hand, will effectively authenticate your items and make them more valuable to a buyer.

Good luck!

Rand. The point of professional advice is NOT to get a document that can then be used as a sales tool. That's the problem with the 'appraisal' he has now. I agree that, for professional buyers, a seller supplied valuation document is mostly useless although it might contain some useful grading details. That's fine, ignore what you want, but you aren't the client. It's not for your benefit and, in most cases, there's no merit to even showing you the report. For a seller wishing to empower themselves with accurate and useful information from an unconflicted source that's working for THEM, rather than trying to buy from them, It can be EXTREMELY useful. Most sellers are at a serious competitive disadvantage and a competent appraisal levels the information playing field. Not to pick on the concept of Internet forums here, but advice from anonymous strangers working from a single photo is NOT the same thing. Bids (or not) from potential buyers is not the same thing.

Having bought and sold a fair number of signed pieces at auction, wholesale and the open market, I stand by my advice to the poster, with no emotion, bias or vested interest in the question posed. Clearly, she shares your viewpoint as she did obtain an appraisal. Advising her to get yet another appraisal is hardly helpful, but will certainly force her to invest more cost in the piece, and unnecessarily. The market is pretty transparent as to the value of each component. The variant here is that its a Tiffany signed deco piece, with some market driven premium attached. By seeking interest and offers from a wide group of reputable buyers such as those posed (in addition to contacting Tiffany), I think she will begin to get a feel for value, which may or may not be consistent with the appraisal she has in hand. There are also past auction results which can be researched and used to help in her negotiations. And despite we are all "strangers" I think coming to this forum, to gain access to a wide variety of independent advice is a good place to start.

 

[diamondseeker2006]

What is the nearest large city from where you are? I am in NC, too. I of course agree with getting a valid appraisal or assessment from Tiffany, but once you do, even if you get offers from vendors, I wish you'd give jewelry lovers here a chance to bid because those vendors will resell with a hefty markup.

 

[bbziggy]

Hi,
Just thought this might be interesting to you. I just saw this ring on First Dibs website today from the seller BERGANZA. I included the ring description. I think yours is a much more unique setting too. Just for a bit of comparison.

 

[BloomsburyHouse]

I sell a lot of premium Tiffany Jewellery, as an antique piece I don't believe that certificates are what will sell the ring. I would recommend going the consignment route with a specialist vendor of pre owned/antique Tiffany pieces or sending a few pictures to Bonhams or Christies to see if they what they think.

FYI Berganza is notoriously expensive. I agree that your appraisal is not an indication of what its worth. Appraisals can be quite random or in some cases deliberately misleading (when the appraiser is taking a percentage of the valuation)

 

[diamondseeker2006]

Ditto on the Berganza price being crazy.

 

[skystrick]

Thanks for all the replies! Based on the input I received here, I'll be contacting some high-end consignment firms soon.

Thanks again.