How we value jewellery before buying
Above First we weigh the jewellery, for us, that's the easy bit. But the
scales are extremely accurate. Gravity isn't as accurate, so the scales are calibrated
for our shop, if moved they must be adjusted.
Below Examining gems, identifying them, and checking condition and quality
We test diamonds, to find out if they are natural or lab-grown.
Click here to see how the test works
We buy gold, silver and platinum jewellery, including gemset
items and coins. We buy foreign gold for resale, we can get it
hallmarked. We also buy scrap.
Bring the jewellery to us. We'll need half an hour to
value the items, perhaps longer if they are complicated or the shop is busy;
we'll tell you how long we need when you come. When the valuation is ready
we can text your phone.
If there was any documentation (stone certificates etc) do bring
it, the information could increase the value of the jewellery.
There is no charge for
these valuations.
Do I need to
produce identification?
Yes, we need something with your name and address. A
driver's license is great. Or a recent
utility bill, or a letter from a major corporation, or various
forms issued by the government. You cannot use your passport,
because it doesn't have your address.
If you have the original receipt for the jewellery do bring it. It helps
to establish the item's value, and is an extra proof that you
own the piece.
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Do I
have to make an instant decision?
No. You need time to think, and get other offers. We
normally honour a quotation for 30 days. However we might have
to change the offer (up or down) if ther's a change in the gold price.
We do not operate a buyback scheme. You can
pawn the jewellery,
which gives you the option to buy it back within 6 months. But
you will have to pay interest on the loan
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Will I get what I
paid for it?
It's very unlikely we will pay you the full retail
value.
To sell jewellery, we incur expenses. First we polish and perhaps
repair the item. Then our staff have to sell it, that takes time
and costs us money! The premises are costly, and we need a very high
level of security. The local council charges us rates, and the government takes a
cut (VAT) on everything we sell.
Second-hand goods aren't as
desirable to the public as new.
But some customers have told us we offered more than they paid.
So you may be lucky, enjoying the jewellery and making a profit!
Over 80% accept our offer.
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Dealers may not offer a fair
price
Many places are keen to buy your gold, do not trust
them to offer a fair price. Compare prices before you decide
where to sell.
We checked out offers around our town, and were
shocked at the range of prices offered.
One dealer offered £70 on the same day we offered
£100! But increased his offer to £90 when he realised his
offer was not going to be accepted. Morale: Shop around, and if somebody
increases their offer, do
not assume their final price is fair.
But the worst was the door to door buyer who offered
£18. Luckily the householder was suspicious, but he accepted
our offer of £100!
Buyer Beware used to be the motto, but
in this case it's Seller Beware. Check several dealers to
ensure you get the best price.
How to Get the Best Price when Selling
Look after your jewellery
It's probably a bit late, if you're already thinking
of selling. Jewellery in good condition is worth more.
Gemstones can be damaged, and deep scratches in the metal are
hard to remove. We can get jewellery repaired, but it increases
our expenses, so you will get less.
Buy wisely
People normally prefer new jewellery and pay more for it. So buy
second-hand! That way you will buy at a bargain price, and get
more of your money back if you decide to sell. Vintage jewellery can be worth
more than new, but it's too complicated to discuss here.
Get more than the Scrap Value
Some buyers only pay for the scrap gold content of your jewellery.
This is not fair to you. Visit a shop which sells secondhand
jewellery. We know how much we can get for your
jewellery by selling it and will give you more than we'd pay for scrap.
What about selling
privately?
First you'll have to find somebody prepared to buy it, and
that's not easy. We often have jewellery on sale for months
before finding a buyer.
If you try this, you should set your price above what we pay, but
don't expect as much as our selling prices.
Your buyer has to trust you.
We guarantee
everything we sell including second-hand goods, and our expertise
means people know we correctly identify what we sell.
Also by buying from a shop, customers know the law protects them as well. Selling
takes work, decide for yourself if it's justified.
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Sell through a local auction?
Prices can vary wildly, dependant on both the item and those
attending the sale. The auction house will advise. You will have
to wait some time before you get your money, and do ask about
insuring the item during viewing, as there is always the risk of
loss.
Sell through an Internet auction.
We tried this before opening our online shop in 2014. The results
were a disaster! We
normally got less than we would pay (after allowing for the
charges). Things change. Check out an auction, and see what
sort of interest there is in similar pieces from private sellers.
Buyers do prefer to buy from businesses, and enjoy legal protection, also they've
built their reputation online.
Summary
The more work put into selling, the more you get. We add value
to everything we sell, and get good prices. We always need more jewellery,
so we pay fairly. If you are prepared to invest time and money,
you will probably get more than we pay, but is it good use of your time?
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