Selling Jewellery

[chokkie]

Hi everyone, my mother in law sadly passed away about 10:days ago, and whilst clearing out her flat, we found some jewellery which is probably worth a bit. The family would prefer to sell these pieces, but we are not sure of the best way in which to start the ball rolling. As you can appreciate we are a bit fearful of being ripped off, and would prefer to avoid having it all formally valued (which we would have to pay for of course). Any thoughts folks? Cheers Chox.

[douglas9401]

This coud be a starting place.

https://www.naj.co.uk/best-way-to-get-an-honest-gold-valuation

[sanmac]

If you don't get it valued you will have absolutely no idea if you are getting "ripped off".

[Buenchico]

>>> . . . and would prefer to avoid having it all formally valued (which we would have to pay for of course)

Not necessarily. It depends upon what you mean by 'formally'. Most auction houses will give you a verbal valuation of items entirely free of charge. (Obviously, they're hoping that you'll go on to sell those items through them but there's no obligation to do so). It's only when you require a written valuation (e.g. for insurance purposes) that a fee is levied.

That applies not only to local auction houses but also to the 'big boys' too. For example, I've walked into Bonham's prestigious international auction house on New Bond Street in London (without an appointment) and asked to have some timepieces valued. Within minutes I was chatting to the same expert that people queue for hours to see on the Antiques Roadshow. He was happy to give me his time and a full appraisal of the items that I'd shown him. (Similarly, I've accompanied a friend into Sotheby's famous auction rooms, again without an appointment, to get an on-the-spot valuation of a vase. Once again, we were met by a famous face, who was happy to give of her time).

So seek out an auction house that offers jewellery for sale (either in specialist auctions or in general ones). You'll at least get a free valuation of the jewellery and you might end up selling it there, as selling by auction (where people are bidding against each other for your items) avoids any possibility of getting ripped off.

[chokkie]

Thanks guys, for all your suggestions, much appreciated. Very helpful indeed. Cheers, Chox

[bednobs]

no-pne will be able to sell her stuff without probate or LOA, will they?

[bednobs]

also did she have a will? if so, who does the jewellery go to. It doesnt particularly matter what "the family" think ought to happen

[smurfchops]

Don’t forget, if you sell at auction, you will have around 15% commission to pay plus VAT. Why not go on Dickinsons Real Deal??? Cash in hand !!!

[brian j john]

You don't say if there might be any precious stones involved , the gold content would only be worth scrap value which changes daily .

[brian j john]

A precious stone is another matter

[jennyjoan]

when I was knocked down 2017 I knew that if I had have died family wouldn't have realised I had some serious pieces of gold (3 pieces)

I was getting a lot of dental work done and so I sold the pieces to the pawnbrokers - I got £2,000. Which paid towards my dental work.

Pawnbrokers for me every time - don't get me wrong - you could probably get better somewhere else but that suited me. Good luck

[tonyav]

Minimum price scrap value at the pawnbrokers, jj.

[Tuvok]

Go to an independent jeweller.

[William51]

I would take it for a valuation with no commitment to sell at two or three big high street jewellers and then decide whether or who to sell it to.