Inheriting jewelry can bring sentimental value, financial value and plenty of uncertainty.
You may recognize your grandmother’s diamond ring or your father’s favorite watch, but other pieces may leave you wondering what they are, whether they’re valuable and what you should do with them. When an estate contains multiple pieces of fine jewelry, diamonds, watches or precious metals, those questions can become even more complicated.
Should you keep the jewelry? Insure it? Divide it among family members? Or sell pieces that no one plans to wear?
Before making those decisions, take the time to understand what you actually inherited.
At Pacific Jewelry Buyers in Marina del Rey, we help individuals and families evaluate jewelry, diamonds, watches and precious metals so they can make informed decisions about their inherited valuables.
Contact Pacific Jewelry Buyers to evaluate and sell your valuables today. Walk-ins welcome.
Start by Keeping the Jewelry Together
When several family members will eventually divide an estate, it can be tempting to choose pieces immediately.
Wait until you understand the collection.
Keep jewelry, watches and related documents together while you identify and evaluate the items. This makes it easier to see the estate as a whole and reduces the chance that something important gets separated from its paperwork or accessories.
Look for jewelry boxes, receipts, previous appraisals, diamond grading reports, gemstone certificates and watch documentation.
A small envelope tucked inside a jewelry box could contain information that helps identify a stone or piece of jewelry.
Don’t Assume You Know What’s Valuable
Appearance can be misleading.
A large piece isn’t automatically valuable, and a small or understated piece isn’t necessarily inexpensive.
Several factors can influence the value of estate jewelry, including:
- Precious metal content
- Diamond or gemstone quality
- Designer or maker
- Craftsmanship
- Age and provenance
- Condition
- Rarity
- Current market demand
A signed designer bracelet, for example, may deserve a very different evaluation from an unsigned bracelet containing a similar amount of gold.
The same applies to diamonds, gemstones and luxury watches.
Before deciding which pieces are “important,” have the collection properly evaluated.
Look for Jewelry Hallmarks and Maker’s Marks
Small markings can provide useful clues about inherited jewelry.
Gold jewelry may contain marks such as 10K, 14K, 18K, 22K, 585 or 750. Platinum and sterling silver have their own identifying marks.
You may also find a maker’s mark or designer signature.
Don’t worry if you can’t find one.
Jewelry markings can become difficult to read over time, and some pieces require professional testing and examination to determine exactly what they contain.
Avoid scratching, filing or performing DIY acid tests on jewelry yourself. A professional can evaluate the piece using appropriate testing methods without relying on guesswork.
Find Any Existing Jewelry Appraisals
If the person who owned the jewelry insured it, you may find previous appraisal documents.
Keep them.
An appraisal can provide useful information about a piece’s materials, gemstones, measurements, manufacturer or identifying characteristics.
However, don’t assume an old appraisal tells you what the jewelry would sell for today.
This is one of the most important distinctions to understand when handling inherited jewelry.
Insurance Value and Resale Value Are Not the Same Thing
Suppose you inherit a diamond ring with an appraisal stating that it’s worth $15,000.
Does that mean you can sell it for $15,000?
Not necessarily.
Different valuations serve different purposes.
An insurance appraisal may estimate the amount necessary to replace an item through an appropriate retail market if it were lost, stolen or damaged.
Resale value considers what the item may realistically command when sold in the secondary market.
Those numbers can be very different.
That’s why you should determine why you need a valuation before relying on a particular number.
If you plan to keep and insure the jewelry, you may need an appropriate current appraisal. If you plan to sell it, you need to understand its current market value from a buyer’s perspective.
Decide Which Pieces Have Sentimental Value First
Financial value isn’t the only value that matters.
Before selling inherited jewelry, identify pieces that carry strong personal or family significance.
Maybe several grandchildren remember the same necklace. Perhaps a ring has passed through multiple generations. A watch may have belonged to someone who wore it every day.
Once a sentimental piece leaves the family, getting it back may be impossible.
Separating sentimental decisions from financial ones can make the estate process easier.
You can then focus your evaluation on pieces the family genuinely may want to sell, insure or divide.
Get Valuable Jewelry Evaluated Before Dividing an Estate
Dividing jewelry based only on appearance can create problems.
Imagine two siblings dividing an estate. One chooses a diamond ring while another chooses three gold bracelets because the items appear roughly equivalent.
A professional evaluation might reveal that their values differ substantially.
Understanding the jewelry’s value before dividing it can help families make more informed decisions and create a more equitable distribution.
This becomes particularly important when an estate includes diamonds, designer jewelry, luxury watches or unusual gemstones.
Don’t Forget About Designer Jewelry
Some inherited jewelry has value beyond its diamonds and precious metals.
Pieces from established luxury jewelry houses may command strong demand in the secondary market. The designer, collection, age, condition and desirability of a particular piece can all affect its value.
If you find signed jewelry, keep any original boxes, receipts, certificates or other documentation with it.
Don’t automatically treat designer jewelry as scrap gold simply because you no longer want to wear it.
Have the entire piece evaluated first.
Have Inherited Diamonds Properly Evaluated
Diamonds require more than a quick look at their size.
Professional evaluation considers characteristics such as carat weight, cut, color and clarity, along with other factors that can affect desirability and value.
If you find a diamond grading report from an established gemological laboratory, keep it with the stone or jewelry.
No paperwork?
That doesn’t mean the diamond lacks value. An experienced professional can examine the stone and determine the next appropriate step.
Keep Boxes and Papers With Luxury Watches
If the estate includes a Rolex or another luxury watch, search for everything associated with it before deciding to sell.
Look for:
- Original box
- Warranty card or papers
- Purchase receipt
- Service records
- Extra bracelet links
- Accessories
These items can provide useful information and may influence the desirability of certain watches.
Don’t pay to polish or repair an inherited luxury watch before having it evaluated. Alterations that seem helpful aren’t always the best choice from a resale perspective.
Should You Clean Inherited Jewelry Before an Evaluation?
You don’t need to make inherited jewelry look brand new before bringing it to a professional.
Gentle cleaning may be appropriate for some pieces, but aggressive polishing, chemical cleaning or DIY restoration can create unnecessary risks, particularly when you don’t know exactly what you’re handling.
Leave questionable or delicate pieces alone.
A professional can examine their condition first and advise you appropriately.
Should You Keep, Insure or Sell Inherited Jewelry?
Once you understand the collection, the decision becomes much easier.
You might choose to keep and insure a valuable piece that has strong sentimental meaning.
You might divide several pieces among family members once everyone understands their relative values.
And you might sell jewelry, diamonds or watches that no one in the family wants to keep.
There isn’t one correct answer for an entire estate.
Often, the best solution involves all three.
Selling Inherited Jewelry in Los Angeles
If you decide to sell inherited jewelry, choose a buyer who can evaluate more than the weight of the gold.
Fine jewelry can contain value in its diamonds, gemstones, designer name, craftsmanship and desirability in addition to its precious metal content.
At Pacific Jewelry Buyers, we evaluate fine and estate jewelry, diamonds, luxury watches and precious metals individually so you can better understand what you have.
That knowledge gives you the ability to decide whether selling makes sense for you.
Have Your Inherited Jewelry Evaluated at Pacific Jewelry Buyers
You don’t need to know whether a piece is valuable before bringing it in. That’s what the evaluation process helps determine.
Pacific Jewelry Buyers serves clients in Marina del Rey and throughout the greater Los Angeles area who want to better understand their inherited and estate jewelry.
Bring the jewelry you recognize and the pieces you don’t. Bring old appraisals, boxes, receipts and certificates if you have them. We’ll help you identify what matters and understand your options.
Whether you ultimately decide to keep, insure, divide or sell your inherited jewelry, start by finding out what you actually have.
Learn More About Selling Your Estate Jewelry
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