How to sell your unnecessary jewelry at auction

If you have old and unnecessary jewelry at home, perhaps they have a certain value, and you store a treasure that can be successfully sold at the auction.According to the calculations of the Bonhams auction house, forgotten jewelry and stones unclaimed by the owners with a total value of about 50 million euros are dusting in the British houses, and only 9.5 million euros are lurking them in the vicinity of London.

The sale of jewelry at the auction may be a profitable business, since people like to invest in material values, including jewelry.“Many clients tell us that they just forgot about the jewelry, inherited after the death of an elderly relative,” says Jean Ghika, the head of the Bonhams jewelry department in the UK.“Many did not know how valuable their jewelry are,” he continues.

Among jewelry sold for quite impressive amounts, a brooch that languished in the closet before was sold for 97,250 euros, as well as earrings with pearls and diamonds, which brought their owner after trading at the auction 157200 euros.

If these facts did not force you to immediately go to sort out the contents of the caskets and boxes of bedside tables, read on how to set your goods at the auction.The first step is to evaluate your product with one or more jewelry houses in order to find out whether you should part with it.This can be done both personally and via the Internet.After evaluating the goods with the auction house, an agreement is concluded, according to which he establishes his commission and undertakes to sell the goods.Auction houses can orient you regarding the auction that is most suitable for your decoration and can even offer to sell your goods abroad if there is more demand there.

A preliminary assessment of the cost of jewelry put up for auction is intended only for potential buyers.The final price of jewelry that fall into the headlines of newspapers, as a rule, is much more predicted initially.

But, it is worth remembering that many items are sold at a price of a much lower pre -sale assessment.

If you decide to sell a jewelry at the auction, its declared starting price will be set at the lower estimate level equal to the minimum summary between the seller and the auction house.The owner of the jewelry also pays a commission of the auction house, which is also specified in advance and is deducted from the final price of the product.

If the exposed product was not sold, the auction house usually pays the minimum price of the product or, if the seller’s seller desires, they try to sell it at the next auction.