DIAMOND APPRAISALS AND VALUE OF DIAMOND TO
SELL A DIAMOND TO ESTATE BUYERS NEW YORK.
The Reality of Appraisals
Selling A Diamond, Selling Diamond Jewelry or Selling A Fine Watch can be a bit confusing due to the value placed on the item on a jewelry appraisal. Due to the nature of an appraisal, please realize that you will not get paid the price as outlined on the appraisal for the following reasons.
Typically Diamond Appraisals, Jewelry Appraisals, and Watch Appraisals are written for your protection in the event of theft, loss, or damage and establish a retail value for your Insurance Company to cover for losses that you may incur. Even though appraisals are a very important document that may help protect you from loss, they can be a bit misleading when determining the actual cash value of your item. What this means is that when you are interested in Selling A Diamond, Selling Jewelry, or Selling A Watch, these items cannot be sold for the appraised amount.
Jewelry Appraisals are written to account for the Retailers Markup (as much as 3 times cost), manufacturing/labor costs, and the fact that many Insurance Companies only pay 60-
The retail markup on diamonds, jewelry and fine watches can be quite significant. Often times a piece of jewelry is marked up three times actual cost by high end retail stores. Although larger diamonds are not marked up this much, the dollar amount of markup is usually significant. When we purchase diamonds, we can only pay our customers competitive pricing to the traditional wholesale market. Unfortunatley, this is often much less than what was paid for the diamond at a retail jewelry store.
To Sell A Diamond it is often very helpful if the diamond is GIA certified. This document outlines all the details of the stone so that an accurate value can be established. Although Diamond are typically in the same condition as when they were purchased, it is important to know that fancy shapes of diamonds such as Pear Shape, Princess Cut, Oval, Marquise, Cushion, Emerald Cut, etc. can go in and out of fashion. Although still valuable, the market demand does influence how much you will get paid for fancy shaped diamonds.
Selling Estate Jewelry on the other hand is different than Selling A Diamond. Since jewelry items are subject to wear and tear and therefore, this wear and tear is typically discounted. Unless a piece of jewelry has significant provenance, or is a signed piece such as Cartier, Graff, Tiffany and Company, etc. we must calculate the value of jewelry as the sum of its parts, for example, the weight of the gold plus the value of the diamond(s).
When you wish to Sell A Watch many factors influence the price. A watch that includes the original box and all paper documents such as owner's manual, title certificate, warranty card, etc. is typically worth more than the watch alone. The overall condition of the watch is relatively important, however, Estate Buyers of New York has the ability to re-
There are no government guidelines, state laws, or other rules for appraising jewelry, and therefore it is difficult to provide a true cash value of your item based on a retail appraisal. Estate Buyers of New York will pay you the actual value of your diamond, jewelry or watch based on our own strict laboratory evaluation. We are happy to provide you with a value range based on the information you submit and that we are able to gather during a telephone consultation.