Inherited diamond necklace and earrings - value?

[pricescoperocks]

My wife inherited a necklace and a pair of earrings and we're curious if you guys can help us figure their value. My wife took them to a local guy and he said the necklace was 18kt gold with probably a .5kt diamond (also a red gem on the other side behind the diamond) and he offered 300 Euros. She didn't get much into the earrings with him but he mentioned that there wasn't much gold but that the stones were heavy. I kind of doubt the earrings contain real diamonds since they're so large but it's certainly possible. They don't seem to sparkle like most diamonds I've seen.

 

[duker]

For such a cheap price, I would buy it from you...

I am pretty sure that your jewels are more valuable than 300 euros. Depending the grade of the diamond, that could be the price of the diamond alone...

 

[rubybeth]

Impossible to say without knowing stats on the stones. You can find out gold scrap value fairly easily by calling around to places that buy gold. As for resale value, pieces of jewelry are really only 'worth' what people will pay you for them. If someone will pay you $1,000 or $20, that's what it's 'worth.'

 

[pricescoperocks]

Is eBay the best way to sell them? If so, how can we gather enough information to sell them on eBay?

 

[Lane03]

Get an appraisal from a neutral person (one who only does appraisals and doesn't buy/sell). Then you will have a better idea of what they are worth. Impossible to appraise from pictures unless you have information on the diamonds (4 c's).

 

[denverappraiser]

The first step in any valuation assignment is to define 'value'.

The question answered by the jeweler was: What will YOU give me for them? `I'm going to presume this was answered correctly but it may have been part of some negotiation process so maybe he would give more. Would someone else give you more? That's going to depend on the details of the metal and the stones. Maybe. You can run around and collect bids from various buyers, which is usually free, or you can find an independent appraiser who can tell you what you have and who will estimate what you can get for it.

With most appraisals, by the way, this is NOT the definition of value being used. The more standard def is something like what you would reasonably expect it to cost to replace the piece with another of like kind and quality at retail, new, locally. Obviously this is a very different question. If this isn't what you're looking for and it's what your appraiser provides they are, at best, giving you the correct answer to the wrong question.

 

[kenny]

Step one, which is free, is I'd take em to a pawn shop or jeweler with a diamond tester.
Borrow their loupe and try to find inclusions.

 

[pricescoperocks]

OK, what sort of info do we need to get from the appraiser in order to sell them on eBay? What should we expect to pay the appraiser for this?

 

[GreenBling]

@pricescoperocks, are there places in your country where they just buy the gold by weight and purity? suspect just the gold chain worth over 200 euro.

 

[denverappraiser]

OK, what sort of info do we need to get from the appraiser in order to sell them on eBay? What should we expect to pay the appraiser for this?

Assuming the earrings aren't diamonds, what ebay buyers generally want to know for this sort of thing is the weight of the piece(s), the quality of the gold (18k or whatever), as many decent pictures as you can arrange, and the feedback volume and ratio of the seller. If the stones are diamonds they will want all of the above plus as many specs as you can provide on the diamonds and the identity of the grader or lab you used.

 

[pricescoperocks]

OK, my plan is to find an appraiser in my area, have him appraise the necklace and earrings, and use that info to list the items on eBay.

How much should I expect to pay for the appraisal?

Is it safe to just drop the stuff off and pick it up later?

 

[denverappraiser]

Step one, which is free, is I'd take em to a pawn shop or jeweler with a diamond tester.
Borrow their loupe and try to find inclusions.

I rarely agree with Kenny on appraisal matters but in this case I do. Start by confirming that you actually have diamonds and that you actually have 18k. Assuming it is gold and are not diamonds, the extra you get on ebay for having an appraisal is unlikely to justify the cost of the appraisal.

 

[denverappraiser]

Step one, which is free, is I'd take em to a pawn shop or jeweler with a diamond tester.
Borrow their loupe and try to find inclusions.

I rarely agree with Kenny on appraisal matters but in this case I do. Start by confirming that you actually have diamonds and that you actually have 18k. Assuming it is gold and are not diamonds, the extra you get on ebay for having an appraisal is unlikely to justify the cost of the appraisal.

 

[pricescoperocks]

I wouldn't know where to begin with a loupe. I'm sure the necklace is a diamond. Should that justify the cost of an appraisal?

 

[denverappraiser]

I wouldn't know where to begin with a loupe. I'm sure the necklace is a diamond. Should that justify the cost of an appraisal?

The amount your realize WITH an appraisal is not likely to be very different from the amount your realize WITHOUT an appraisal unless the issue is the grading on the stones but it changes how you write the ad and possibly your sales strategy. Pawnshops and their ilk aren't a very reliable source for grading information but they WILL tell you if your stones are diamonds or not, they'll probably tell you the approximate size, and they'll tell you what THEY are willing to pay. Armed with that, you should be able to make an estimate of whether it's worth your trouble to pursue more detailed information. Around here it costs about $100 but I have no idea about appraisers in your neighborhood. If they aren't diamonds or if the diamonds are below about 0.25cts, the ebay bids are likely to be pretty much gold value only. If they are diamonds, the earrings look like they would be worth the trouble. What those stones are is an important question.

 

[pricescoperocks]

Understood, I will take them to a pawn shop to get started. Thank you for your guidance.

 

[pricescoperocks]

We ended up at a jewelry store which doesn't buy jewelry and were helped by a very nice woman who used a little electronic diamond tester to show us that the earrings are not diamonds but the necklace is. What should be my next move? Is eBay without an appraisal the right choice for both items? It seems like a shame to sell the diamond necklace without knowing how fine the diamond is.

 

[denverappraiser]

An appraisal would probably provide you useful information that would help you answer your questions and I think it would probably be of value to you for that reason but as an advertisement tool on ebay, I don't think it's likely an appraisal report will increase the price you get on ebay by enoughto justify the cost. Talk to a jeweler or similar professional buyer who DOES buy and get a bid for them. If you then want to list them on ebay and see if you can get more than that, have at it. Use that bid as your reserve or just skip it and use the one you've got if you don't want to take the time. Be aware of the fees associated with ebay including paypal and shipping/insurance selling when you set your pricing. FWIW, the picture doesn't look like a 0.50ct size stone. If you've got a ruler or something you can measure with, a half carater is usually a smidge over 5mm wide.

 

[Christina...]

I was going to mention that the stone doesn't look like a .5 as well. At least from the picture you posted it doesn't. If you plan to list on ebay it's going to be very important that the stone is the size you list it as or you are going to have a very unhappy buyer. I would take it to another jeweler and ask if they can measure the stone for you and give an approximate weight, if they also believe that it's .5 then go ahead and list it as approximately .5cts. On the other hand, if they tell you it's .2cts and another jeweler said .5, then I would seek out a third opinion before listing.

edit: you may want to ask what type of cut it is as well. Old cuts are very popular right now, so if the stone is an OEC you may want to list it that way.