Inherited Jewelry? Here’s What to Do Next

Have you inherited jewelry recently? Whether it’s a single ring or an entire jewelry collection, figuring out what to do with inherited jewelry can be overwhelming. Some items may have sentimental value, some may be quite valuable, and some may have little to no financial value at all. Where should you start?

Here’s what to do next if you have inherited jewelry.

1. Consider Sentimental Value First

First, take a look at your inherited jewelry items and consider which may have sentimental value. You may find that you wish to keep an item or a few, or you may find that you don’t have any strong attachment to any particular item.

Since these items are inherited from a family member, you should consider sentimental value first before considering their monetary value.

If you wish to actually wear one of the inherited items, you may be able to get it resized by a local jeweler.

2. Organize and Photograph the Jewelry

If you have a bigger jewelry collection on your hands, now is a good time to go through it. As for how to organize inherited jewelry, the easiest method is to sort it into categories (rings, earrings, bracelets, etc.). Then, create a written inventory of what you have.

Handle the jewelry with care, and if possible, gently wipe down items with a soft microfiber cloth to remove any dust or grime.

While you’re examining each item, keep an eye out for hallmarks such as:

• 10k, 14k, 18k, or 24k: These indicate that the item is likely made of gold, and the specific marks denote its purity
• .925 or Sterling: These indicate that the item is likely made out of silver
• Brand/designer hallmarks: These indicate the specific jeweler that produced the item (for instance Rolex, Cartier, or Tiffany & Co). Certain brands carry a higher resale value than others

Remember that not all jewelry is hallmarked, so don’t be surprised if you don’t see any of these indicators. But if you do, take note when you’re making your inventory.

Next, take photos of each item to document your items.

3. Determine Financial Value

Next, take steps to figure out the approximate financial value of your items. The value of jewelry is based on:

• Intrinsic value, which refers to the melt value of precious metals (gold/silver/platinum) and any gemstones/diamonds
• Brand/designer value, which refers to the premium associated with specific high-end brands like Cartier or Tiffany
• Collectible value, which refers to the premium that a collector may be willing to pay for a rare item (like a vintage watch)
• Condition, which refers to the physical condition/quality of the item and any blemishes or imperfections it has

The easiest way to estimate jewelry inheritance value is to go to a local coin shop or jeweler that buys secondhand jewelry from the public. They can evaluate your items, and provide a cash offer for specific items or the whole collection.

If you’re in the Seattle area, visit Bellevue Rare Coins to get a no-obligation offer for your jewelry. We have locations in Bellevue, Tacoma, Issaquah and Lynnwood and have been a trusted jewelry buyer in the area for over 45 years!

If you’re not in the Seattle area, search online for reputable jewelry buyers near you. Check reviews to make sure you’re working with a trusted buyer – and call ahead to confirm that they buy jewelry items.

If you don’t want to sell but still want to evaluate the value of your jewelry, you can utilize online tools to help estimate value – but keep in mind that the actual buy price will vary a lot depending on the item’s condition and the market environment.

Keep in mind that most secondhand jewelry will sell for as little as 20-50% of the original purchase price, sometimes even less – so original retail value is not a good guide of the current value.

4. Decide What to Keep and What to Sell

Finally, it’s time to make some decisions about which items you will sell and which you will hold on to.

This may depend both on the value of items as well as their financial value. Some items may have little to no resale value, which means you might want to simply keep them or give them away. Others may have substantial monetary value, in which case you’ll want to shop around to find a buyer with a good offer.

Jewelry buyers can include certain jewelers (but not all), coin shops, pawn shops, and we-buy-gold places. It’s recommended to avoid pawn shops and opt for coin shops instead, as pawn shops tend to offer the lowest payouts.

When selling jewelry, make sure you work with a trusted local buyer. It’s not recommended to sell items online on auction platforms due to the risk of scams (not to mention the selling fees).

If you’re in the Seattle or Tacoma area, come to Bellevue Rare Coins to sell your jewelry. We make the process simple and stress-free, with easy cash offers, same-day payouts, and appointments available to fit your busy schedule.