The value of jewelry is all over the place. A piece that looks like a simple ring or chain can be worth thousands, and others that you might think are extremely valuable can be worth a few dollars. So the question of what your jewelry is worth is not as simple as it may seem. If you’re looking to sell jewelry in Phoenix, there are few things that you can consider to assess its value.
The Item’s Weight
Typically, silver and gold are heavier metals compared to their fake counterparts such as pewter and brass. If your jewelry feels much lighter, it could be that it’s fake or hollow metal. Solid precious metal jewelry is heavy, very smooth, and consistent throughout. Also, if your jewelry has experienced heavy wear, the solid part showing through should not change in color. The longer and heavier your jewelry is, the more valuable it is.
Intrinsic Value Vs. Resale Value
The intrinsic value of jewelry is the metal value plus the gem value. Some other names for intrinsic value are scrap value, cash wholesale value, cash value, or recycle value. These are values of raw materials based on current market rates. In this context, the value of gold jewelry will be determined by the current spot price of gold or the gemstones by the cut grade.
Current spot price refers to the current global price of gold, silver and platinum. Similar to items like stocks, the trading price of precious metals fluctuates daily. We update our prices daily according to this to ensure you’re always getting the fairest price for your jewelry.
New Vs. Used
The value of a used piece can be different from what it costs new. The price of new jewelry is calculated based on the intrinsic value of the precious metal or gem and the cost of workmanship, which can double the cost of the finished jewelry. There are also other costs, including marketing costs, wholesale costs, transportation costs, import costs, and more. If the jewelry store is a high end one, this is another factor that could get a markup over the wholesale costs. The value of an item sold to a jewelry pawn shop will be calculated based on the melted/intrinsic value.
Due to this, the retail price of new jewelry is often far higher than what the resale price will be after the jewelry has been used. In the used jewelry market, most jewelry buyers are paying based solely on the value of the precious metals. There are exceptions for jewelry pieces made by high-end designers because they’re worth far more than just the weight of the gold or silver, however this is not the case most of the time.
Value Your Jewelry in Avondale, AZ
Generally, jewelry buyers in Phoenix will value your jewelry based on its intrinsic value. If you’re curious about how much your jewelry is worth or wish to sell it for cash, feel free to come to West Valley Pawn and Gold. We will be happy to give you a free appraisal of your piece.