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Ask Your Goldsmith:
Advice for Selling Personal Jewellery

"Mr. Reinsch,

I was visiting your web site and read that you offer advice for people who want to sell their jewelry.

I have a diamond ring (1.27 kt solitaire) appraised approx. 10 years ago at $7,700 and a jade necklace at a $1,000. I would like to sell them both but I am not sure what would be the best approach. Plus I know I would need an updated appraisal.

Do you do appraisal? If you don't do appraisal, perhaps you can give me a name.

Also I was hoping you could take a look at the items and give me your opinion concerning what I should do. I thought I would ask first instead of coming directly to your store.I look forward to your reply. Thank you.

Carole


Hi Carole,

Thank you for your Inquiry and the confidence you have in me to answer your important questions!

Our Appraiser is Donald Mackay, at 21 Dundas Square (416-363-7073). He is the one of most knowledgeable and very honest appraisers we have run into in the last 40 years!

What quality is the solitaire? You forgot to mention. If you tell me that, I will find out my cost to buy from the importers, so you will see where you stand to sell it to other stores or dealers or privately.

Best would always be to sell it private, for at least the jewellers' cost or slightly more. The generous jewelers would give you at MOST half of what their cost is.

I do not buy jewellery from people, I only give you straight advice! So look up your appraisal and even if it's an old one, it would give you the exact quality from that last appraiser. Then I can find out the true cost to me or any other jeweller. The importer makes another 30% on me as manufacturer and even more on the retailers. And when you bring the item to a pawnbroker, they will give you generously 10 cents on the dollar,if they made enough for the day on others already!

I just give you advice, because I would like you to know at least one goldsmith who is not interested in taking jewellery in for next to nothing from people who are ignorant of the facts or hard up for money due to circumstances and problems in their life! I like to at least help and be somewhat of a samaritan.

Greetings from
Hartmut


For more information, please read my other articles about Buying and Selling Jewellery, About Old Gold and Taking Care of Your Jewellery.


Have a Question? Get the Answer! info@westyorkjewellers.com


Sincerely,

Hartmut Reinsch
President
West York Jewellers
January 2003