Estate Jewelry 101
HOW VALUE IS DETERMINED
​
When a loved one passes, the family is often left with the daunting task of dividing items from the estate equitably amongst themselves. In terms of inherited estate jewelry, the first step is to get an accurate valuation from a certified jewelry appraiser. The four most common standards used to assess the value of a piece of estate jewelry are replacement value, estate retail value, estate wholesale value, and intrinsic value.
While many estate jewelry pieces hold a special sentimental value to a family member, this does not figure into the appraised monetary value. The age and style of the piece may affect its value, however. It can become a collector’s item or go out of style. Other factors such as today’s stone and precious metal prices, quality of workmanship and the particular manufacturer or designer may increase or lower the current value. GLGC has skilled and qualified professionals to provide the most accurate valuations.
To find out more about the services Great Lakes Gem provides, and to schedule an estate jewelry appraisal from our certified professional, click on a link:
​
Replacement Value
A replacement value appraisal is calculated by how much an insurance appraisal determines it would cost to replace the jewelry item with a new one. It is not the value of the piece you have, but the piece you are replacing it with. It has nothing to do with its actual market value. Replacement value is the least accurate way to determine value when dividing inherited jewelry.
Estate Retail Value
The estate retail value of your jewelry estimates the price an item would sell to a customer who wants to purchase used jewelry – usually to save money. In this scenario, the used jewelry will be worth less than if the same piece were brand new. eBay, Craigslist, and LetGo are a few classified ad sites that sell used jewelry.
Estate Wholesale Value
The estate wholesale value of jewelry is the price that a used jewelry dealer is willing to pay jewelry. The jeweler will have to price the piece lower than the estate retail value in order to make money on the resale of the item. Compared to the estate retail value, the estate wholesale value is usually easily converted into cash. This makes it an ideal standard to use for valuing your inherited jewelry.
Intrinsic Value
How much are the materials that go into your inherited jewelry worth – the metals and gems? This is how the intrinsic value of your jewelry is determined. The price is based on the cash wholesale price of the gem less the cost for re-cutting or re-polishing the gem if necessary. Style, condition, brand, and demand are no factor in the determining the price. The intrinsic value standard yields the lowest price for your jewelry.
Heirloom Value
This a value that only the family can determine. What is the worth of a piece of jewelry as determined by personal sentimental factors? It can be valuable to some but not to others. It can have a value and importance that goes far beyond the appraised price. A professional jewelry appraiser has no way of factoring in the heirloom value to the cost of the jewelry.
To find out more about the services Great Lakes Gem provides, and to schedule an estate jewelry appraisal from our certified professional, click on a link:
​
​
​
​
​
​
​
THE DIFFERENCE BETWEEN ESTATE, VINTAGE &
ANTIQUE JEWELRY
​
Great Lakes Gem Company appraises, buys, and sells estate, antique, and vintage jewelry. There is a difference between these classifications of jewelry and that difference will factor into the value of the piece when it is appraised. In general, the older the piece, the more valuable, though style and condition will play an important role as well.
Estate Jewelry
Estate jewelry refers to jewelry and timepieces that are part of the 'estate' of a deceased person or that has been sold or used. Even a recent piece is considered estate jewelry as long as it is pre-owned. It does not have to be antique or vintage. Many dealers limit the term “estate” to jewelry made within the last 30 years.
​
Vintage Jewelry
Vintage jewelry refers to any piece that is at least 20 to 30 years old. Anything made before 1990, for instance, is considered vintage. Vintage covers mass produced pieces over a wide range of time and many, many different styles. This includes “Retro Era” jewelry, glamorous, Hollywood-inspired 1940’s jewelry, Jacqueline Kennedy inspired 60’s jewelry, and the dramatic, bold jewelry of the 1980’s.
​
Antique Jewelry
Antique jewelry is any piece of jewelry that is in the neighborhood of 100 years old or older. Therefore, pieces from the early 1920’s can now be considered antique. According to Empire Jewelers in Nassau County, New York, popular antique jewelry created in historic eras that are still commonly found in the U.S. through estate sales are from the rare Georgian Era (1714-1837), in which every piece was hand-crafted and therefore very valuable. The Victorian years provided jewelry fashion with three distinct eras that include Early Romantic Victorian (1837-1850), Grand Mid-Victorian (1860-1880) and Late Aesthetic Victorian (1885-1990). The simplified jewelry of the Arts & Crafts Movement (1894-1923) was a hand-made jewelry artisan’s rebellion to the Industrial Revolution, while at the same time Art Nouveau Jewelry (1895-1915) was popularized by the famous French jeweler LaLique. Edwardian Era-jewelry, named after Queen Victoria’s son, Edward was popular during 1901-1910, followed by the visually forward Art Deco Style (1920-1935.)
​
To find out more about the services Great Lakes Gem provides, and to schedule an estate jewelry appraisal from our certified professional, click on a link:
​
