For over 30 years, Keno Brothers Jewelers has been trusted in the community for the highest grade of South Florida Jewelry Appraisal in the area. Looking for more information? Contact us directly to speak with our certified jewelry appraisers today. Highest prices paid when you sell your jewelry to Keno Bros.
The guidelines listed below are helpful when you are trying to sell your jewelry, sell your certified diamonds, sell Rolex watches, sell Patek Philippe watches or selling your gold or silver in South Florida.
These jewelry items are priced at the highest end of the scale. This is “High Asking Price” of brand new jewelry, as sold at retail establishments, without any discounts factored into the sale. Unfortunately for consumers, some retailers will issue appraisals with unrealistically high values.
These so-called “Feel Good” appraisals enable those retailers to artificially deep-discount their jewelry from their highly inflated appraised values; their objective is to make their customers “feel good” about their purchases by offering huge (and fake) discounts.
Many new jewelry items are sold with a discount from retail merchants; this is the “actual retail selling price”.
While reasonable discounting is good marketing, it is unfortunate that some unscrupulous retailers unethically “inflate” values to unrealistic high levels, then offer substantial “discounts” to create the illusion of “fantastic deals”.
This is the price at which Merchants obtain diamonds, gems, new jewelry and watches, etc. directly from their suppliers.
Oftentimes, suppliers offer retailers special options not available to the general public, such as: guarantees, exchanges, pay-later, special terms, etc. Wholesale values may be half (or less) of actual retail.
The price at which pre-owned jewelry exchanges hands, with neither being under compulsion to buy or sell is the Fair Market Value. A good example is where one acquaintance sells their used watch to another acquaintance; both parties get a “good deal”.
The Seller realizes a somewhat higher price than what an actual “dealer” can pay, and the Buyer gets a somewhat better deal than if purchased from a dealer. In this transaction, there may be no “middle man” and thus savings are realized by both the Seller and the Buyer.
Attempting to sell your own jewelry to strangers, should be done with caution. Therefore, persons seeking “quick sale, quick payment” may find a “liquidation sale-value” to be their safest, most convenient and best option.
For sellers not in need of a quick settlement sale this option can net a higher return. A “Reserve” price is agreed upon between Seller and Buyer. Items left “on consignment” at the jewelry store must then be sold at or above the agreed upon reserve.
The Consignee (jeweler) then collects a commission after the items are sold and the Consignor is paid. Any items not sold at or above the reserve within the specified time frame, are returned to the Consignor as “no sale”.
In this case the Jeweler acts as an “Agent” on behalf of the Seller. For services provided, the Jeweler earns a commission upon successful auction sale of customers’ jewelry. Services offered by the Jeweler may include: preparation of items for auction (photography, editing), refurbishment of items (polishing, repair, sizing, gems replacement), appraisals, writing descriptions for listing, customer fulfillment (handling correspondence, packing and shipping items, payment collection and disbursement), etc.
Start to finish might take a few weeks; an auction pits multiple bidders against each other to drive up final selling prices. For Sellers who are not in a great hurry, but still want a time certain sale date, then sale at auction can be a desirable option.
This is the “Immediate Payment” price, paid on the spot by the dealer of an established jewelry buying office. The Liquidator (professional buyer) immediately advances all funds to the Seller in exchange for the unwanted items. Liquidation value is often the best option for seller, when this person needs funds immediately and has no intention or time to market and sell at a higher value. Other reasons to sell at this value, but not limited too, is items that are no longer in fashion or in vogue.
Worn and damaged items, estate inheritance reasons, divorce settlements, or afraid of the security aspects of having items around without jewelry insurance, etc. Liquidation value is usually 20-25% of retail, but can be more or less depending on the item.