You don’t have to know the exact value of the jewelry you’re selling, but it’s a good idea to know what your pieces are generally worth. First, asses your jewelry, and consider if other people would be interested in buying and wearing your pieces. Remember, just because a piece has value to you personally, doesn’t mean others will feel the same. Be honest before putting effort into selling it. Obviously, the better condition your jewelry is in, the more likely it’ll sell. If a valuable piece looks too worn, consider selling it for the gems and/or the gold and silver it contains.

Next, make sure it’s clean.  

Unless otherwise instructed by an antique collector or an appraiser, you should clean the jewelry to make it look as appealing as possible. If you aren’t sure how to safely clean a piece of jewelry consult with an expert first, or you could end up damaging it. Generally, the safest way to clean most jewelry is to gently scrub it with mild soap and warm water, using a soft-bristled toothbrush. Toothpaste can work on hard gemstones such as diamonds, but it can scratch gold and softer gemstones. Never use chlorine to clean gold or gemstones. Ammonia is safe to use on hard gemstones but is too abrasive for many gemstones.

Understand how gold is valued.

The purity of gold jewelry is indicated by its karat stamp. Most gold jewelry, especially antique pieces, are 14-karat, which means they’re only about 58 percent pure and you’ll only receive about half its current gold value. A 24-karat gold piece is pure gold and will be worth approximately the current price of gold per ounce. If there’s no karat stamp on the gold piece, it’s usually because it’s not real gold. In some instances, the karat stamp may have worn off. A quick way to test if a gold piece is real is to place it next to a magnet; if it sticks, then it’s not real gold.

Just as you should know how gold is valued, the same goes for precious gemstones. You’ll need official certification to know exactly how much your gem is worth. If you don’t have certification, research what type it is and its general popularity and market value.

Get the pieces appraised in person.

It’s best to get your jewelry appraised in person by a reputable appraiser at an established jeweler. It’s smart to shop around and get your jewelry appraised at more than one location. Once you have some jewelry stores or pawn shops in mind, call ahead and make sure the appraiser is Gemological Institute of America (GIA) educated. The GIA is the industry standard for gem and precious metal appraisals. A GIA-educated appraiser should abide by the strictest industry ethics and methods to ensure that a seller is given the fair market price for the piece being sold.

With gold jewelry, for example, an appraiser will quote you a price based on the weight of the gold content — indicated in karats — also taking into account the current market price, and minus a handling fee. If it contains precious or semi-precious gems, that should increase the value.

Realize the market fluctuates.

The price of gold and silver changes daily based on various factors, including market demand, manufacturing supply, and the financial markets. It’s important to understand that the price you are quoted for a piece applies to the day that the piece is appraised and is based on the market value in the industry at that time.

By Mitch Kushner, third-generation jeweler and owner of Empire Pawn of Nassau in East Meadow, NY.

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